San Francisco, Nov 20 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
Browse press release of this report
by Grand View Research: www.grandviewresearch.com/press-release/global-heating-equipment-market
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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