Global Heating Equipment Market
Dublin, Jan. 20, 2023 (GLOBE NEWSWIRE) -- The "Heating Equipment Global Market Report 2022: Ukraine-Russia War Impact" report has been added to ResearchAndMarkets.com's offering.
The global heating equipment market is expected to grow from $34.73 billion in 2021 to $37.76 billion in 2022 at a compound annual growth rate (CAGR) of 8.7%. The heating equipment market is expected to grow to $47.88 billion in 2026 at a CAGR of 6.1%.
The main types of heating equipment are heat pumps, furnaces, boilers, unitary heaters, and others. A heat pump is a device that uses electric or mechanical methods to move heat from one location to another. Heat pumps are used to make the warm space warmer and the cool space cooler by transferring heat from one to the other. The different technologies include water source, and ground source that are used in residential, commercial, and industrial applications.
The growing demand from the construction industry is expected to propel the growth of the heating equipment market going forward. The construction sector refers to the organizations that deals with creating, maintaining, and repairing infrastructures. The growing construction industry uses heating equipment such as heat pumps to provide heating and cooling in large as well as medium-sized buildings.
For instance, in June 2021, according to a report published by Canada's national statistical agency, the investment in building construction increased from $14,294 million in April 2019 to $19,273 million in April 2021. Furthermore, in the 2022 US Construction Cost Trends report, the US total construction spending has increased by 16% since the pandemic's onset. Therefore, growth in the global construction industry is driving the growth of the heating equipment market.
Technological advancements are a key trend gaining popularity in the heating equipment market. Major companies operating in the market are using advanced technologies such as machine learning to sustain their position in the market.
For instance, in October 2019, Shell, a US-based oil company, and PassivSystems, a UK-based home technology company, launched B-Snug. This new intelligent hybrid heating system prioritises the usage of electric heat pumps over traditional boilers to reduce greenhouse gas emissions with PassivSystems' technology platform and machine learning technology.
B-Snug's unique features handle a conventional home gas boiler and an air source heat pump in tandem, continuously monitoring the interior's temperature and local weather predictions to automatically transition between the two as needed.
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1) By Product: Heat Pumps; Furnaces; Boilers; Unitary Heaters; Other Products
2) By Technology: Air Source; Water Source; Ground Source
3) By Application: Residential; Commercial; Industrial
Key Topics Covered:
1. Executive Summary
2. Heating Equipment Market Characteristics
3. Heating Equipment Market Trends And Strategies
4. Heating Equipment Market - Macro Economic Scenario
5. Heating Equipment Market Size And Growth
6. Heating Equipment Market Segmentation
7. Heating Equipment Market Regional And Country Analysis
8. Asia-Pacific Heating Equipment Market
9. China Heating Equipment Market
10. India Heating Equipment Market
11. Japan Heating Equipment Market
12. Australia Heating Equipment Market
13. Indonesia Heating Equipment Market
14. South Korea Heating Equipment Market
15. Western Europe Heating Equipment Market
16. UK Heating Equipment Market
17. Germany Heating Equipment Market
18. France Heating Equipment Market
19. Eastern Europe Heating Equipment Market
20. Russia Heating Equipment Market
21. North America Heating Equipment Market
22. USA Heating Equipment Market
23. South America Heating Equipment Market
24. Brazil Heating Equipment Market
25. Middle East Heating Equipment Market
26. Africa Heating Equipment Market
27. Heating Equipment Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Heating Equipment Market
29. Heating Equipment Market Future Outlook and Potential Analysis
United Technologies Corporation
Trane Technologies plc
Lennox International Inc.
Robert Bosch GmbH
Emerson Electric Co.
Honeywell International Inc.
Daikin Industries Ltd.
Mitsubishi Electric Corporation
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