Heating Equipment Market was valued at USD xx billion in 2018 and is projected to reach around USD xx billion by 2025, at a CAGR of 32.13 % during the forecast period.
Scope of Global Heating Equipment Market Reports –
Heating equipment is an appliance used for maintaining temperatures levels to appropriate level by using thermal energy within residential, industrial or commercial platforms. Industrial process heating operations are responsible for more energy demand than any other of the manufacturing sector accounting for nearly 70% of manufacturing sector process energy. Growing demand for heating equipment’s from several industrial sectors such as steel mills, metal fabrication, food & beverage has significantly influenced the growth of global heating equipment market in the last few years.
Key Players for Global Heating Equipment Market Reports-
LG Electronics
Honeywell International Inc.
Siemens Building Technologies AG
Whirlpool Corporation
Emerson Electric Company
Panasonic Corporation
Electrolux AB
Haier Group Company
Daikin Industries Ltd.
Hitachi Ltd
Others
Global Heating Equipment Market Dynamics –
The global heating equipment market is growing at a significant pace. Growing preference for energy efficient solutions has been one of the major factors driving the global heating equipment market. New laws and attractive incentives from government bodies are actively promoting integration of renewable and efficient heating and cooling technologies in different sectors. Increasing adoption of advanced technology in to achieve lower energy consumption in industrial sectors has accelerating the growth of global heating equipment market. The growth was also credited to the development of high efficiency solutions of heating equipment’s. However, installations of such systems have relatively high cost which is major restraint of the market. In future, innovations in automation technology might offer several market opportunities for the key players. Furthermore, HVAC technologies would change the way of heating to homes and business purposes.
Heating Equipment Market Key Segments:
By Product
By Application
Scope of Global Heating Equipment Market Reports –
Heating equipment is an appliance used for maintaining temperatures levels to appropriate level by using thermal energy within residential, industrial or commercial platforms. Industrial process heating operations are responsible for more energy demand than any other of the manufacturing sector accounting for nearly 70% of manufacturing sector process energy. Growing demand for heating equipment’s from several industrial sectors such as steel mills, metal fabrication, food & beverage has significantly influenced the growth of global heating equipment market in the last few years.
Key Players for Global Heating Equipment Market Reports-
LG Electronics
Honeywell International Inc.
Siemens Building Technologies AG
Whirlpool Corporation
Emerson Electric Company
Panasonic Corporation
Electrolux AB
Haier Group Company
Daikin Industries Ltd.
Hitachi Ltd
Others
Global Heating Equipment Market Dynamics –
The global heating equipment market is growing at a significant pace. Growing preference for energy efficient solutions has been one of the major factors driving the global heating equipment market. New laws and attractive incentives from government bodies are actively promoting integration of renewable and efficient heating and cooling technologies in different sectors. Increasing adoption of advanced technology in to achieve lower energy consumption in industrial sectors has accelerating the growth of global heating equipment market. The growth was also credited to the development of high efficiency solutions of heating equipment’s. However, installations of such systems have relatively high cost which is major restraint of the market. In future, innovations in automation technology might offer several market opportunities for the key players. Furthermore, HVAC technologies would change the way of heating to homes and business purposes.
Heating Equipment Market Key Segments:
By Product
- Heat pumps
- Furnaces
- Boilers
- Unitary heaters
- Others
By Application
- Residential
- Commercial
- Industrial