Heating Equipment Market Size, Wood-Burning Stoves Market, Space Heaters Market, Steam Boiler Market, Industrial Boilers Market
What is the Current Market Scenario and Future Outlook for the Global Heating Equipment Market (Except Warm Air Furnaces)?
The global heating equipment (except warm air furnaces) market has experienced robust growth in recent years, escalating from $52.19 billion in 2024 to $56 billion in 2025 at a compound annual growth rate (CAGR) of 7.3%. Factors contributing to this growth include energy efficiency regulations, population growth and urbanization, industrialization and commercial construction, government incentives and subsidies, and consumer preferences for comfort.
The market is projected to continue its rapid ascent over the next few years, expected to reach $71.38 billion in 2029 at a CAGR of 6.3%. 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, and market expansion in developing regions. Technological advancements, the rise of hydronic heating systems, decentralized heating solutions, the use of advanced materials, and design and electrification of heating are the key trends within the forecast period.
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What are the Major Driving Factors Behind the Heating Equipment Market Growth?
The expansion of the global heating equipment market can be attributed to the increasing number of residential construction projects. Heating equipment, which is essential for maintaining temperature and humidity levels in residential buildings, sees heightened demand with each new residential project. Notably, in January 2023, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported that 1.4 million residential houses were built, reflecting an increase of 12.8% compared to January 2022. This surge in residential construction projects bolsters the heating equipment market.
What are the Key Segments in the Heating Equipment Market?
– By Type: Fireplaces, Wood-Burning Stoves, Supplemental Heaters, Low-Pressure Steam, Hot Water Boilers, Furnaces
– By Business Type: New Construction, Retrofits
– By Applications: Household, Commercial, Industrial
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What are the Major Companies in the Heating Equipment Market?
Significant players in the heating equipment (except warm air furnaces) market encompass Heatstar Limited, Red Dot Corporation, Thermal Solutions Products LLC, New Yorker Boiler Company Inc., DTE Biomass Energy Inc., Bard HVAC, Fulton Thermal Corporation, John Zink Company LLC, Toyotomi Co. Ltd., ECR International Inc., Daikin Industries Ltd., Ingersoll-Rand plc, Lennox International Inc., Robert Bosch GmbH, A.O. Smith Corporation, ABB Ltd., Bosch Thermotechnology Corp., Bradford White Corporation, Burnham Holdings Inc., Carrier Corporation, Danfoss A/S, Emerson Electric Co., Ground Heaters Inc., Honeywell International Inc., HTP Comfort Solutions LLC, Johnson Controls International plc, Laars Heating Systems Company, Lochinvar LLC, Mitsubishi Electric Corporation.
What Current Trends are Affecting the Heating Equipment Market Growth?
A defining trend in the heating equipment market is product innovation, with major companies introducing novel products to maintain their market foothold. For example, in November 2022, Rondo Energy, a US-based heating equipment provider, launched the Rondo Heat Battery (RHB), a revolutionary heat storage device, with two models (RHB100 and RHB300). The RHB delivers zero-carbon heat for various industrial processes and can store heat energy at temperatures up to 1500°C for hours or even days, enhancing operational efficiency significantly.
Which Region Dominates the Heating Equipment Market?
As of 2024, North America held the largest share in the heating equipment (except warm air furnaces) market. Other regions analyzed in the heating equipment market report include Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.
How Does The Heating Equipment (Except Warm Air Furnaces) Market Report 2025 Aid Market Participants?
The heating equipment (except warm air furnaces) is a device that heats air or liquid to provide warmth by using an energy source. It plays a pivotal role in various industrial and commercial operations, including the purification of solvents by distillation, extraction using rotary evaporators, and determination of physical parameters like boiling point, melting point, flashpoint, among others. The Heating Equipment (Except Warm Air Furnaces) Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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