Market Overview:
The global heating equipment market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for heating equipment from residential, commercial, and industrial applications. In terms of type, the heat pumps segment is expected to lead the global heating equipment market during the forecast period. This can be attributed to their growing popularity among consumers due to their energy-efficient performance and low operating costs as compared to other types of heating equipment such as furnaces and boilers.
Product Definition:
Heating equipment is a type of machinery used to produce heat. It can be used for residential, industrial or commercial purposes. Heating equipment is important because it helps to keep people and property warm in cold weather conditions.
Heat Pumps:
The heat pumps are used to transfer thermal energy from one place to another without using any fuel or electricity. The heat pump is a mechanical device which removes the unwanted heat from one place and brings it to another. It works on the principle of thermodynamics by changing the direction of flow of temperature-sensitive fluids such as steam, hot water, gas or liquid nitrogen.
Furnaces:
A furnace is a closed vessel that contains an open flame and is used to heat materials. The materials can be heated by radiation, convection or conduction. It plays a major role in heating equipment market on account of its ability to control the temperature of the material being processed and also provides safety measures during handling hot objects.
The global furnaces.
Application Insights:
The demand for heating equipment is majorly derived from the residential sector. The growth of this application segment can be attributed to increasing urbanization and rising disposable income in developing countries including China, India, Brazil, and others. In addition to it, the commercial sector also plays a significant role in generating revenue for manufacturers owing to growing construction activities across various industries such as healthcare, retail & consumer goods among others.
Industrial applications include processes such as metalworking and glass manufacturing where extreme heat is required to perform certain operations at optimum levels. Boilers are one of the most used heating equipment types in industrial applications due largely their ability to provide large scale continuous heat production with less energy consumption over other conventional technologies such as gas or steam turbines or nuclear power plants that are used for similar purposes.
Regional Analysis:
Europe dominated the global heating equipment market in 2017 owing to rising demand for energy-efficient products, coupled with government initiatives. The region is expected to witness a moderate growth rate over the forecast period. Increasing construction activities due to growing population are likely to drive regional growth.
Asia Pacific is projected to be one of the fastest-growing regions during the forecast period owing its increasing population and rapid industrialization and commercialization along with improving economic conditions in emerging countries such as China, India, Indonesia, Malaysia Philippines Thailand Vietnam etc. Rising investments by governments for infrastructure development are also expected fuel market growth over next eight years or so.
The Middle East & Africa accounted for a small share of global revenue in 2017 owing their low penetration rates compared other regions; however they have huge potential considering their rapidly developing economies including Saudi Arabia UAE Kuwait etc.
Growth Factors:
- Increasing demand for heating equipment from the construction sector as a result of growing population and rising income levels.
- Rapid urbanization in emerging economies is leading to an increase in the demand for heating equipment in residential buildings.
- Growing awareness about energy-efficient heating systems among consumers is propelling the growth of the market for heating equipment globally.
- The increasing use of renewable sources of energy such as solar and geothermal is providing a fillip to the growth of the global market for heating equipment.
Scope Of The Report
Report Attributes
Report Details
Report Title
Heating Equipment Market Research Report
By Type
Heat Pumps, Furnaces, Boilers, Unitary Heaters
By Application
Residential, Commercial, Industrial
By Companies
Daikin Industries, Ingersoll-Rand, Lennox International, Robert Bosch, United Technologies, Johnson Controls, Danfoss, Uponor, Emerson, Honeywell International, Pentair, Nexans, Siemens, Mitsubishi Electric, Nortek
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
249
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Heating Equipment Market Report Segments:
The global Heating Equipment market is segmented on the basis of:
Types
Heat Pumps, Furnaces, Boilers, Unitary Heaters
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential, Commercial, Industrial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Daikin Industries
- Ingersoll-Rand
- Lennox International
- Robert Bosch
- United Technologies
- Johnson Controls
- Danfoss
- Uponor
- Emerson
- Honeywell International
- Pentair
- Nexans
- Siemens
- Mitsubishi Electric
- Nortek
Highlights of The Heating Equipment Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Heat Pumps
- Furnaces
- Boilers
- Unitary Heaters
- By Application:
- Residential
- Commercial
- Industrial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Heating Equipment Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Heating equipment is any device used to heat a building or room. Common types of heating equipment include furnaces, boilers, and air conditioners.
Some of the key players operating in the heating equipment market are Daikin Industries, Ingersoll-Rand, Lennox International, Robert Bosch, United Technologies, Johnson Controls, Danfoss, Uponor, Emerson, Honeywell International, Pentair, Nexans, Siemens, Mitsubishi Electric, Nortek.
The heating equipment market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Heating Equipment Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Heating Equipment Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Heating Equipment Market - Supply Chain
4.5. Global Heating Equipment Market Forecast
4.5.1. Heating Equipment Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Heating Equipment Market Size (000 Units) and Y-o-Y Growth
4.5.3. Heating Equipment Market Absolute $ Opportunity
5. Global Heating Equipment Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Heating Equipment Market Size and Volume Forecast by Type
5.3.1. Heat Pumps
5.3.2. Furnaces
5.3.3. Boilers
5.3.4. Unitary Heaters
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Heating Equipment Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Heating Equipment Market Size and Volume Forecast by Application
6.3.1. Residential
6.3.2. Commercial
6.3.3. Industrial
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Heating Equipment Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Heating Equipment Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Heating Equipment Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Heating Equipment Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Heating Equipment Demand Share Forecast, 2019-2026
9. North America Heating Equipment Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Heating Equipment Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Heating Equipment Market Size and Volume Forecast by Application
9.4.1. Residential
9.4.2. Commercial
9.4.3. Industrial
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Heating Equipment Market Size and Volume Forecast by Type
9.7.1. Heat Pumps
9.7.2. Furnaces
9.7.3. Boilers
9.7.4. Unitary Heaters
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Heating Equipment Demand Share Forecast, 2019-2026
10. Latin America Heating Equipment Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Heating Equipment Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Heating Equipment Market Size and Volume Forecast by Application
10.4.1. Residential
10.4.2. Commercial
10.4.3. Industrial
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Heating Equipment Market Size and Volume Forecast by Type
10.7.1. Heat Pumps
10.7.2. Furnaces
10.7.3. Boilers
10.7.4. Unitary Heaters
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Heating Equipment Demand Share Forecast, 2019-2026
11. Europe Heating Equipment Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Heating Equipment Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Heating Equipment Market Size and Volume Forecast by Application
11.4.1. Residential
11.4.2. Commercial
11.4.3. Industrial
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Heating Equipment Market Size and Volume Forecast by Type
11.7.1. Heat Pumps
11.7.2. Furnaces
11.7.3. Boilers
11.7.4. Unitary Heaters
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Heating Equipment Demand Share, 2019-2026
12. Asia Pacific Heating Equipment Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Heating Equipment Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Heating Equipment Market Size and Volume Forecast by Application
12.4.1. Residential
12.4.2. Commercial
12.4.3. Industrial
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Heating Equipment Market Size and Volume Forecast by Type
12.7.1. Heat Pumps
12.7.2. Furnaces
12.7.3. Boilers
12.7.4. Unitary Heaters
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Heating Equipment Demand Share, 2019-2026
13. Middle East & Africa Heating Equipment Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Heating Equipment Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Heating Equipment Market Size and Volume Forecast by Application
13.4.1. Residential
13.4.2. Commercial
13.4.3. Industrial
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Heating Equipment Market Size and Volume Forecast by Type
13.7.1. Heat Pumps
13.7.2. Furnaces
13.7.3. Boilers
13.7.4. Unitary Heaters
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Heating Equipment Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Heating Equipment Market: Market Share Analysis
14.2. Heating Equipment Distributors and Customers
14.3. Heating Equipment Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Daikin Industries
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Ingersoll-Rand
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Lennox International
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Robert Bosch
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. United Technologies
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Johnson Controls
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Danfoss
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Uponor
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Emerson
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Honeywell International
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Pentair
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Nexans
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Siemens
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Mitsubishi Electric
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Nortek
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
