The global heating
equipment market is expected to reach USD 48.58 billion by 2025,
according to a new report by Grand View Research, Inc. Mandatory government
regulations and incentives provided on energy saving solutions in the
commercial as well as industrial sector is projected to boost the demand for
heating equipment.
Growing disposable income coupled with low-interest
rates in several countries has given companies more cash in hand to upgrade
their capital equipment in offices, production facilities, and stores.
Low-interest rates are expected to augment the growth of this market as it
makes it easier to invest in costly equipment upgrades.
Rapidly growing space and water heating requirement in
North America, Europe, and Asia Pacific is projected to boost the demand for
heating equipment in these regions.Industrial buyers focus on factors such as
energy and operational cost savings, maintenance cost, and product lifespan.
However, residential buyers seek energy-saving solutions at economical prices.
Browse full research report on Heating Equipment Market: www.grandviewresearch.com/industry-analysis/heating-equipment-market
Further
key findings from the report suggest:
- Technological upgradations and development of energy efficient
solutions are anticipated to drive market demand
- Heat pumps were the largest product segment and accounted for over
40% of total revenue in 2015. Heat pumps are of the most efficient as
compared to other fuel, gas, and other electric heating systems. Furnaces
are expected to witness the highest growth of 5.8% over the forecast
period.
- Industrial was the largest application segment with demand share
exceeding 55% in 2015. It is also expected to witness the highest growth
of 5.7% over the forecast period.
- The growing demand for space and water heating products is expected
to aid products growth in residential sector
- Europe led the global industry with demand share estimated at 38.5%
in 2015. The favorable regulatory scenario is expected to drive the
regional market.
- Asia Pacific is projected to witness the highest growth of 6.2% on
account of increasing manufacturing activities in China and India
- Acquiring certifications such as ENERGY STAR, AHRI, and CEE is
expected to benefit manufacturers as customer prefer solutions that help
reduce their energy consumption cost
- Companies work continuously with their supply base to ensure
sourcing of quality raw materials at reasonable prices
- Companies pursue cost reductions through strategies such as
consolidating purchases, bidding among potential suppliers, and global strategic
sourcing
- Major companies identified in this industry include Danfoss, United
Technologies Corporation, Ingersoll-Rand Plc, Lennox International, Inc.,
Daikin Industries Ltd., Johnson Controls, Robert Bosch GmbH among others
Browse more reports of this category
by Grand View Research: www.grandviewresearch.com/industry/hvac-and-construction-technologies
Grand
View Research has segmented the heating equipment market on the basis of
product, application, and region:
Global
Product Outlook (Revenue, USD Million, 2014 - 2025)
- Heat pumps
- Furnaces
- Boilers
- Unitary
heaters
- Others
Global
Application Outlook (Revenue, USD Million, 2014 - 2025)
- Residential
- Commercial
- Industrial
Regional
Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Russia
- Asia Pacific
- China
- India
- Japan
- Central &
South America
- Brazil
- Middle East
& Africa
- Saudi Arabia
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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