Industry Overview:
The latest report by IMARC Group, titled “Heating Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the Heating Equipment Market Growth. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global heating equipment market size reached US$ 40.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 53.1 Billion by 2028, exhibiting a growth rate (CAGR) of 4.3% during 2023-2028. Heating equipment refers to devices used for regulating the ambient temperature. Some of the commercially available variants include furnaces, heat pumps, boilers, and space heaters. These systems are usually centralized for heat, air and forced distribution of ventilation. Heating equipment consists of a heat pump, generator, and boiler that transforms and delivers the available heat to a different source, like water or air. These devices aid in conserving energy while ensuring thermal comfort of the inhabitants.
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Global Heating Equipment Market Trends:
The positive growth of the global heating equipment market can be attributed to rapid urbanization, industrialization, and increasing disposable incomes, especially in emerging economies. The escalating demand for smart housing systems and a rise in construction projects are further catalyzing the market growth. Additionally, increasing environmental consciousness and the introduction of favorable initiatives promoting the use of energy-efficient products are fueling the market growth. Moreover, the large-scale integration of appliances with the Internet of Things (IoT) and artificial intelligence (AI) for better control and functionality is inflating the sales of heating equipment across the globe.
Global Heating Equipment Market 2023-2028 Analysis and Segmentation:
Competitive Landscape With Key Players:
- Daikin Industries Ltd.
- Emerson Electric Co.
- Honeywell International Inc.
- Johnson Controls
- Lennox International Inc
- Mitsubishi Electric Corporation
- Panasonic Corporation
- Robert Bosch GmbH
- Schneider Electric SE
- Siemens AG
- The Danfoss Group
Key Market Segmentation:
Product:
- Heat Pumps
- Furnaces
- Boilers
- Unitary Heaters
- Others
Application:
- Residential
- Commercial
- Industrial
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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