The recent research titled 'Global Hot Water and Heating Equipment Market' examines the major trends, challenges, growth drivers, opportunities, and threats that exist in this market.
Pune, India, April 21, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global hot water and heating equipment market size was worth USD 50.2 billion in 2021 and is anticipated to garner notable returns by the year 2027.
This study, which includes conclusions from Porter's Five Forces model and PEST analysis, assists investors in finding profitable investment locations, thereby increasing revenue creation. Moving on, the market is divided into three categories: type terrain, application scope, and regional landscape. Data on each segment's growth rate and industry stake throughout the forecast period is entailed in the report.
It then delves deep into the competitive dashboard, revealing details about the strategies utilised by industry partakers to improve their position in the business horizon.
The industry is primarily driven by widespread use of furnace in densely populated areas, as well as technological developments, and rising use of electronic gadgets.
For the unversed, the devices used to warm or maintain the desired temperature in an enclosed space are referred to as heating equipment. It is usually centralised for air, heat, and forced displacement ventilation, and comprises of a heat pump that distributes hot water, steam, or air through the ducts. Boilers, heat pumps, furnaces, and space heaters are some prevalent types of heating equipment.
Increasing penetration of furnaces and heat pumps across residential sector, and customer desire for improved comfort and security are expected to boost the industry trends over the forecast years.
The market is expected to develop at a faster rate between 2022 and 2027 as government rules for energy conservation in various regions of the world become more stringent.
Market segment overview:
Based on product type, worldwide hot water and heating equipment market is divided into furnaces, unitary heaters, heat pumps, and others. Among these, the heat pump segment held a significant share in recent past and is expected to expand substantially over the forecast period, due to the higher concentration of heating equipment manufacturing firms.
In terms of end-user scope, the industry is branched into non-residential and residential. Among these, the residential segment is predicted to amass notable returns by 2027.
Regional scope:
The key revenue contributing geographies are North America (U.S., Canada, Mexico), Europe (UK, Germany, Italy, France), and Asia Pacific (China, India, Japan)
Among these, Asia Pacific industry is slated to grow significantly through 2027, owing to increasing disposable income of individuals, growing urban population, and surging popularity of electronic technologies in different countries. Also, emphasis on improving quality by eliminating errors & reducing inconsistency for better comfortability while storing and carrying the good in a storage place, and rising concentration of ODMs and OEMs in the region are positively swaying the industry dynamics.
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Havells India Limited, Lennox International Inc., Haier Group Corporation, Bajaj Electricals Ltd., Noritz Corporation, Whirlpool Corporation, Rinnai Corporation, Ariston Holding NV, Robert Bosch GmbH, and A. O. Smith Corporation are the major players affecting the global hot water and heating equipment market trends. These behemoths are undertaking strategies like collaborations & partnerships, mergers & acquisitions, and innovative launches to strengthen their position in the market.
Global Hot Water and Heating Equipment Market, by Product Type (Revenue, USD Million, 2017-2027)
Furnace
Unitary Heaters
Heat Pumps
Others
Global Hot Water and Heating Equipment Market, by Application Type (Revenue, USD Million, 2017-2027)
Residential
Non-Residential
Global Hot Water and Heating Equipment Market, Geographical Fragmentation (Revenue, USD Million, 2017-2027)
North America
U.S.
Canada
Mexico
Europe
Italy
UK
France
Germany
Asia Pacific
China
India
Japan
Global Hot Water and Heating Equipment Market, Company Profiles (Revenue, USD Million, 2017-2027)
Havells India Limited
Lennox International Inc.
Haier Group Corporation
Bajaj Electricals Ltd.
Noritz Corporation
Whirlpool Corporation
Rinnai Corporation
Ariston Holding NV
Robert Bosch GmbH
A. O. Smith Corporation
Table of Content:
1. Report Scope and Methodology
1.1 Scope of the Report
1.2 Research Methodology
1.3 Executive Summary
2. Strategic Recommendations
3. Hot Water and Heating Equipment Market: Product Overview
4. Global Hot Water and Heating Equipment Market: An Analysis
4.1 Market Size, By Value, 2017-2021
4.2 Impact of COVID-19 on Hot Water and Heating Equipment Market
4.3 Global Hot Water and Heating Equipment Market: Growth & Forecast
5. Global Hot Water and Heating Equipment Market: Segment Analysis
5.1 Global Hot Water and Heating Equipment Market Segmentation, By Product Type (Value)
5.2 Competitive Scenario of Hot Water and Heating Equipment Market: By Product Type (2021 & 2027)
5.3 By Heat Pumps- Market Size and Forecast (2017-2027)
5.4 By Unitary Heaters- Market Size and Forecast (2017-2027)
5.5 By Furnaces- Market Size and Forecast (2017-2027)
5.6 By Others- Market Size and Forecast (2017-2027)
6. Global Hot Water and Heating Equipment Market Segmentation, By End User Type (Value)
6.1 Competitive Scenario of Global Hot Water and Heating Equipment Market: By End User Type (2021 & 2027)
6.2 By Residential- Market Size and Forecast (2017-2027)
6.3 By Non-Residential- Market Size and Forecast (2017-2027)
7. Global Hot Water and Heating Equipment Market: Regional Analysis
7.1 Competitive Scenario of Global Hot Water and Heating Equipment Market: By Region (2021 & 2027)
8. Americas Hot Water and Heating Equipment Market: An Analysis (2017-2027)
8.1 Americas Hot Water and Heating Equipment Market by value: Size and Forecast (2017-2027)
8.2 Americas Hot Water and Heating Equipment Market: Growth and Forecast
8.3 Americas Hot Water and Heating Equipment Market: Prominent Companies
8.4 Market Segmentation By Product Type (Heat Pumps, Unitary Heaters, Furnaces, Others)
8.5 Market Segmentation By End User Type (Residential, Non-Residential)
9. Europe Hot Water and Heating Equipment Market: An Analysis (2017-2027)
9.1 Europe Hot Water and Heating Equipment Market by value: Size and Forecast (2017-2027)
9.2 Europe Hot Water and Heating Equipment Market: Growth and Forecast
9.3 Europe Hot Water and Heating Equipment Market: Prominent Companies
9.4 Market Segmentation By Product Type (Heat Pumps, Unitary Heaters, Furnaces, Others)
9.5 Market Segmentation By End User Type (Residential, Non-Residential)
10. Asia Pacific Hot Water and Heating Equipment Market: An Analysis (2017-2027)
10.1 Asia Pacific Hot Water and Heating Equipment Market by value: Size and Forecast (2017-2027)
10.2 Asia Pacific Hot Water and Heating Equipment Market: Growth and Forecast
10.3 Asia Pacific Hot Water and Heating Equipment Market: Prominent Companies
10.4 Market Segmentation By Product Type (Heat Pumps, Unitary Heaters, Furnaces, Others)
10.5 Market Segmentation By End User Type (Residential, Non-Residential)
11. Global Hot Water and Heating Equipment Market Dynamics
11.1 Global Hot Water and Heating Equipment Market Drivers
11.2 Global Hot Water and Heating Equipment Market Restraints
11.3 Global Hot Water and Heating Equipment Market Trends
12. Market Attractiveness and Strategic Analysis
12.1 Market Attractiveness Chart of Global Hot Water and Heating Equipment Market - By Product Type (2027)
12.2 Market Attractiveness Chart of Global Hot Water and Heating Equipment Market - By End User Type (2027)
12.3 Market Attractiveness Chart of Global Hot Water and Heating Equipment Market - By Region (2027)
Global Industrial & Residential Heating Market will witness an annual deployment of over 2 million units by 2026. Economic escalation along with ongoing urbanization and industrialization is positively influencing the installation for these units. Growing heating & cooling demand coupled with the rapid penetration of intermittent sustainable energy supply are raising various questions about grid reliability. Moreover, extreme climatic conditions owing to increasing surface temperature across the South Asian nations and the Europe has led to positive business scenario for leading industry players. Shifting focus toward the adoption of an effective heating technology will further escalate the business growth. In addition, significant fund allocation toward widespread installation of heating systems in industrial & residential establishments will positively sway the industry potential.
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