The Heating Equipment (Except Warm Air Furnaces) by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Heating Equipment (Except Warm Air Furnaces), The heating equipment (except warm air furnaces) market size has grown strongly in recent years. It will grow from $49.2 billion in 2023 to $53.04 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to energy efficiency regulations, population growth and urbanization, industrialization and commercial construction, government incentives and subsidies, consumer preferences for comfort.
The heating equipment (except warm air furnaces) market size is expected to see strong growth in the next few years. It will grow to $69.45 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to renewable energy integration, smart home integration, environmental sustainability standards, rising demand for retrofitting, global climate change concerns, market expansion in developing regions. Major trends in the forecast period include technological integration for efficiency, technological advancements, hydronic heating systems, decentralized heating solutions, advanced materials and design, electrification of heating.
The increasing number of residential construction projects is expected to propel the growth of the heating equipment (except warm air furnaces) market going forward. Residential projects refer to the construction of houses, apartments, and high-rise buildings. Heating equipment is used to control the temperature and humidity in a residential project and the goal is to provide thermal comfort and acceptable indoor air quality, as a result, an increase in the number of residential and commercial construction projects increases the demand for heating equipment (except warm air furnaces) market. For instance, in January 2023, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, 1.4 million residential houses are constructed, a 12.8% above compared to January 2022. Therefore, the increasing number of residential construction projects drives the heating equipment (except warm air furnaces) market.
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The heating equipment (except warm air furnaces) market covered in this report is segmented –
1) By Type: Fireplaces, Wood-Burning Stoves, Supplemental Heaters, Low-Pressure Steam, Hot Water Boilers, Furnaces
2) By Business Type: New Construction, Retrofits
3) By Applications: Household, Commercial, Industrial
Product innovations are a key trend gaining popularity in the heating equipment (except warm air furnaces) market. Major companies operating in heating equipment (except warm air furnaces) are introducing innovative products to sustain their position in the market. For instance, in November 2022, Rondo Energy, a US-based company operating in heat equipment, launched two models that include a revolutionary Rondo Heat Battery (RHB), the RHB100 and RHB300. The RHB delivers zero-carbon heat for steel, cement, chemical manufacturing, and low-temperature food processes as it stores heat energy at temperatures up to 1500°C for hours or days. Rondo heat battery includes low-cost technology that delivers fast charging, high-temperature up to 1500°C, possesses long service life, and enables site efficiency.
The heating equipment (except warm air furnaces) market report table of contents includes:
1. Executive Summary
2. Heating Equipment (Except Warm Air Furnaces) Market Characteristics
3. Heating Equipment (Except Warm Air Furnaces) Market Trends And Strategies
4. Heating Equipment (Except Warm Air Furnaces) Market – Macro Economic Scenario
….
31. Global Heating Equipment (Except Warm Air Furnaces) Market Competitive Benchmarking
32. Global Heating Equipment (Except Warm Air Furnaces) Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Heating Equipment (Except Warm Air Furnaces) Market
34. Heating Equipment (Except Warm Air Furnaces) Market Future Outlook and Potential Analysis
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