The global Heating Equipment Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
Global Heating Equipment Market is expected to reach USD 48.58 billion by 2025. Heating Equipment is used to ensure comfort in winter or colder climates by using thermal energy within office or home. Exclusively used heating system comprises active solar heating, electric resistance heating, furnaces and boilers, wood and pellet heating, radiant heating, and portable heating.
Key Players:
- Danfoss
- United Technologies Corporation
- Ingersoll-Rand Plc
- Lennox International Inc.
- Daikin Industries, Ltd.
- Johnson Controls Inc.
- Robert Bosch GmbH
- Honeywell International Inc.
- Uponor Corporation
- Emerson Electric
- LG Electronics
- Will & Hahnenstein
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Growth Drivers:
The Heating Equipment Market is estimated to grow at a significant CAGR over the forecast period as the scope and its applications are rising enormously across the globe. Growing infrastructure in emerging countries, steady economic growth and rapid urbanization, and expansion of commercial sector are documented as the major factors estimated to enhance the growth in the years to come. Heating Equipment Market is segmented based on product type, end user, and region.
Application Outlook:
- Residential
- Commercial
- Industrial
The industrial sector may account for the substantial market share of Heating Equipment and is estimated to continue its dominance in the years to come. This may be because of growing demand for heating equipment’s in manufacturing plants, roads, food processing plants, and bus stations. In addition, the residential sector is estimated to lead the overall market in future.
Product Outlook:
- Heat pumps
- Furnaces
- Boilers
- Unitary heaters
Heat pumps sector may account for the substantial market share of Heating Equipment and is estimated to lead the overall market in the years to come. It is a two-way air conditioner that helps to extract heat from cold outdoors with use of dischargers and electrical system. The sector is also estimated to grow at the highest CAGR in future.
Regional Outlook:
Globally, Europe accounted for the substantial market share of Heating Equipment in 2016 and is estimated to lead the overall market in the coming years to come. The reason behind the overall market growth could be government initiatives and policies to reduce energy consumption and rising use of enhanced technology.
Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the foremost period. The aspects that may be ascribed to the growth comprise rapidly developing automotive industries and construction sector. The developing countries like India and China are the major consumers of Heating Equipment in this region.
The key players of Heating Equipment industry are United Technologies, Daikin Industries, Robert Bosch, Ingersoll-Rand, Lennox International, Johnson Controls, Will &Hahnenstein, LG Electronics, Honeywell International, Mitsubishi Electric, and Emerson. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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