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.
Browse full research report on Heating Equipment Market http://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: http://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
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Russia
- Asia
Pacific
- China
- India
- Japan
- Central
& South America
- Brazil
- Middle
East & Africa
- Saudi
Arabia
Access press release of this research report by Grand
View Research: http://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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information: www.grandviewresearch.com
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