San Francisco 10 September
2018: The global heating equipment market is expected to reach USD 48.58 billion by 2025,
according to a new report by Grand View Research, Inc. Mandatory government
regulations and incentives provided on energy saving solutions in the
commercial as well as industrial sector is projected to boost the demand for
heating equipment.
Growing disposable
income coupled with low-interest rates in several countries has given companies
more cash in hand to upgrade their capital equipment in offices, production
facilities, and stores. Low-interest rates are expected to augment the growth
of this market as it makes it easier to invest in costly equipment upgrades.
Rapidly growing space
and water heating requirement in North America, Europe, and Asia Pacific is
projected to boost the demand for heating equipment in these regions.Industrial
buyers focus on factors such as energy and operational cost savings, maintenance
cost, and product lifespan. However, residential buyers seek energy-saving
solutions at economical prices.
Access Research Report
of Heating Equipment
Market@ www.grandviewresearch.com/industry-analysis/heating-equipment-market
Further key findings from the report suggest:
· Technological upgradations and development
of energy efficient solutions are anticipated to drive market demand
· Heat pumps were the largest product segment
and accounted for over 40% of total revenue in 2015. Heat pumps are of the most
efficient as compared to other fuel, gas, and other electric heating systems.
Furnaces are expected to witness the highest growth of 5.8% over the forecast
period.
· Industrial was the largest application
segment with demand share exceeding 55% in 2015. It is also expected to witness
the highest growth of 5.7% over the forecast period.
· The growing demand for space and water
heating products is expected to aid products growth in residential sector
· Europe led the global industry with demand
share estimated at 38.5% in 2015. The favorable regulatory scenario is expected
to drive the regional market.
· Asia Pacific is projected to witness the highest
growth of 6.2% on account of increasing manufacturing activities in China and
India
· Acquiring certifications such as ENERGY
STAR, AHRI, and CEE is expected to benefit manufacturers as customer prefer
solutions that help reduce their energy consumption cost
· Companies work continuously with their
supply base to ensure sourcing of quality raw materials at reasonable prices
· Companies pursue cost reductions through
strategies such as consolidating purchases, bidding among potential suppliers,
and global strategic sourcing
· Major companies identified in this industry
include Danfoss, United Technologies Corporation, Ingersoll-Rand Plc, Lennox
International, Inc., Daikin Industries Ltd., Johnson Controls, Robert Bosch
GmbH among others
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/hvac-and-construction-technologies
Grand View Research has
segmented the heating equipment market on the basis of product, application,
and region:
Global Product Outlook (Revenue, USD Million, 2014 -
2025)
·
Heat pumps
·
Furnaces
·
Boilers
·
Unitary heaters
·
Others
Global Application Outlook (Revenue, USD Million, 2014 -
2025)
·
Residential
·
Commercial
·
Industrial
Regional Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
UK
o
France
o
Russia
·
Asia Pacific
o
China
o
India
o
Japan
·
Central & South America
o
Brazil
·
Middle East & Africa
o
Saudi Arabia
Access Press Release of
Heating Equipment Market@ www.grandviewresearch.com/press-release/global-heating-equipment-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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