According to the latest report by IMARC Group, titled “Heating Equipment Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global heating equipment market reached a value of US$ 36.2 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 5.5% during 2021-2026.
Heating equipment refers to devices used for regulating the ambient temperature. Some of the commercially available variants include furnaces, heat pumps, boilers, and space heaters. These systems are usually centralized for heat, air and forced distribution of ventilation. Heating equipment consists of a heat pump, generator, and boiler that transforms and delivers the available heat to a different source, like water or air. These devices aid in conserving energy while ensuring thermal comfort of the inhabitants.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic.
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Global Heating Equipment Market Trends:
The positive growth of the global heating equipment market can be attributed to rapid urbanization, industrialization, and increasing disposable incomes, especially in emerging economies. The escalating demand for smart housing systems and a rise in construction projects are further catalyzing the market growth. Additionally, increasing environmental consciousness and the introduction of favorable initiatives promoting the use of energy-efficient products are fueling the market growth. Moreover, the large-scale integration of appliances with the Internet of Things (IoT) and artificial intelligence (AI) for better control and functionality is inflating the sales of heating equipment across the globe.
Global Heating Equipment Market 2021-2026 Analysis and Segmentation:
Competitive Landscape With Key Players:
- Daikin Industries Ltd.
- Emerson Electric Co.
- Honeywell International Inc.
- Johnson Controls
- Lennox International Inc
- Mitsubishi Electric Corporation
- Panasonic Corporation
- Robert Bosch GmbH
- Schneider Electric SE
- Siemens AG
- The Danfoss Group
Breakup by Product:
- Heat Pumps
- Furnaces
- Boilers
- Unitary Heaters
- Others
Breakup by Application:
- Residential
- Commercial
- Industrial
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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