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Heating Equipment Market by Product (Boilers, Furnaces, Heat Pumps), Technology (Arc Heating, Dielectric Heating, Induction Heating), Application - Global Forecast 2024-2030

Publisher 360iResearch
Published Jun 05, 2024
Length 195 Pages
SKU # IRE18855966

Description

Heating Equipment Market by Product (Boilers, Furnaces, Heat Pumps), Technology (Arc Heating, Dielectric Heating, Induction Heating), Application - Global Forecast 2024-2030


The Heating Equipment Market size was estimated at USD 50.16 billion in 2023 and expected to reach USD 53.41 billion in 2024, at a CAGR 7.23% to reach USD 81.78 billion by 2030.

Heating equipment encompasses a range of devices used in generating and distributing heat in selective areas or throughout an entire building. Heating systems are integral in maintaining indoor temperature control, particularly in harsh winter weather. Global population growth, coupled with rapid urbanization, has led to an increased demand for heating equipment in residential spaces to optimize the temperature in buildings. Stringent regulations and policies by various governments across the globe aimed at reducing carbon footprint are driving demand for energy-efficient heating equipment. However, the high cost of heating equipment installation may impact their use by the end-use industries globally. Moreover, the integration of innovative technologies in heating equipment can increase their operational efficiency and expand their deployment across the end-use sectors globally.

Regional Insights

The Americas region displays a rising preference for energy-efficient and environmentally sustainable heating systems, attributed to increasing energy prices and growing awareness about ecological sustainability. The heating equipment market in Europe, the Middle East, and the African region is rapidly evolving, fueled by the availability of modern infrastructure and concerns over carbon dioxide emissions. Meanwhile, in the EU, substantial investments are committed by the European Investment Bank to boost research and innovation in energy-efficient heating technologies, creating innovative product portfolios. The heating equipment market in the Asia-Pacific region is driven by urbanization and a surge in demand for solar-powered heating systems due to ample sunlight and the growing need to reduce reliance on conventional energy sources. Moreover, stringent regulations and policies by various governments across the Asia-Pacific region aimed at reducing carbon footprint are driving demand for energy-efficient heating equipment. These mandates push Asian manufacturers to increase the energy efficiency rating of their products.

Market Insights
  • Market Dynamics

    The market dynamics represent an ever-changing landscape of the Heating Equipment Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
    • Market Drivers
      • Rapid Increase in Industrialization and Increasing Number of Refineries
      • Rising Government Initiatives Encouraging the Usage of Steam Boiler Systems
      • Growing Demand for Heating Equipment from Various End-Use Industries
      • Market Restraints
        • High Installation and Maintenance Cost of Heating Equipment
        • Market Opportunities
          • Consumer Preference from Traditional Heating Equipment to Electric Heating Equipment
          • Integration of Internet of Things (IoT) and Other Advanced Technologies with Heat Pump Systems and Unitary Heaters
          • Market Challenges
            • Environmental Pollution with the Usage of Heating Equipment
            • Market Segmentation Analysis
              • Product: Rapid adoption of heat pumps as an economical heating equipment
              • Technology: Significant penetration of arc heating technology
              • Application: Expanding use of heating equipment in the industrial sector
              • Market Disruption Analysis
              • Porter’s Five Forces Analysis
              • Value Chain & Critical Path Analysis
              • Pricing Analysis
              • Technology Analysis
              • Patent Analysis
              • Trade Analysis
              • Regulatory Framework Analysis
              FPNV Positioning Matrix

              The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Heating Equipment Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

              Market Share Analysis

              The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Heating Equipment Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

              Recent Developments
              • Carrier Launches Multiple Lines of Commercial High-Temperature Heat Pumps Helping Customers Meet Decarbonisation Goals

                Carrier introduced a line of high-temperature heat pumps for commercial use to assist customers in achieving their decarbonization objectives. The newly launched range of pumps incorporates an upgraded control system, improving energy efficiency and performance. Furthermore, all heat pumps provided by Carrier have received certification from the Air Conditioning, Heating & Refrigeration Institute (AHRI) and are compliant with the ErP Ecodesign Directive standards established by the European Union.

                3U Launches Heat Pump for Residential Applications

                3U introduced a state-of-the-art heat pump specifically designed for residential use. With its advanced features, this heat pump ensures optimal performance and maximum comfort. It supports multiple heating models and incorporates cutting-edge low-temperature control technology.

                EHP Technology Launches Its New Geothermal Heat Mining System

                EHP Technology introduced cutting-edge geothermal heating equipment that offers an environmentally friendly and economical energy solution. The heat pump has advanced inverter technology, enabling optimal performance even in extreme temperatures. Furthermore, this equipment boasts an intelligent hot start system that guarantees swift start-up, rapid warm-up times, and minimal energy usage.
              Strategy Analysis & Recommendation

              The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Heating Equipment Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

              Key Company Profiles

              The report delves into recent significant developments in the Heating Equipment Market, highlighting leading vendors and their innovative profiles. These include A. O. Smith Corporation, AB Electrolux, BEIJER REF AB, Carrier Global Corporation, Daikin Industries, Ltd., Danfoss, Emerson Electric Co., Ferrite Microwave Technologies, Honeywell International Inc., Johnson Controls International PLC, Lennox International Inc., Mitsubishi Electric Corporation, Panasonic Corporation, Rinnai Corporation, Robert Bosch GmbH, Royal DSM, Siemens AG, Systemair AB, Trane Technologies PLC, Uponor Corporation, and Watsco, Inc..

              Market Segmentation & Coverage

              This research report categorizes the Heating Equipment Market to forecast the revenues and analyze trends in each of the following sub-markets:
              • Product
                • Boilers
                • Furnaces
                • Heat Pumps
                • Unitary Heaters
                • Technology
                  • Arc Heating
                  • Dielectric Heating
                  • Induction Heating
                  • Infrared Heating
                  • Power Frequency Heating
                  • Resistance Heating
                  • Application
                    • Commercial
                    • Industrial
                      • Automotive
                      • Chemical
                      • Construction
                      • Food Processing
                      • Manufacturing
                      • Mining
                      • Oil &Gas
                      • Textile
                      • Residential
                      • Region
                        • Americas
                          • Argentina
                          • Brazil
                          • Canada
                          • Mexico
                          • United States
                            • California
                            • Florida
                            • Illinois
                            • New York
                            • Ohio
                            • Pennsylvania
                            • Texas
                            • Asia-Pacific
                              • Australia
                              • China
                              • India
                              • Indonesia
                              • Japan
                              • Malaysia
                              • Philippines
                              • Singapore
                              • South Korea
                              • Taiwan
                              • Thailand
                              • Vietnam
                              • Europe, Middle East & Africa
                                • Denmark
                                • Egypt
                                • Finland
                                • France
                                • Germany
                                • Israel
                                • Italy
                                • Netherlands
                                • Nigeria
                                • Norway
                                • Poland
                                • Qatar
                                • Russia
                                • Saudi Arabia
                                • South Africa
                                • Spain
                                • Sweden
                                • Switzerland
                                • Turkey
                                • United Arab Emirates
                                • United Kingdom


                                Please Note: PDF & Excel + Online Access - 1 Year

Table of Contents

195 Pages
1. Preface
1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders
2. Research Methodology
2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update
3. Executive Summary
4. Market Overview
5. Market Insights
5.1. Market Dynamics
5.1.1. Drivers
5.1.1.1. Rapid Increase in Industrialization and Increasing Number of Refineries
5.1.1.2. Rising Government Initiatives Encouraging the Usage of Steam Boiler Systems
5.1.1.3. Growing Demand for Heating Equipment from Various End-Use Industries
5.1.2. Restraints
5.1.2.1. High Installation and Maintenance Cost of Heating Equipment
5.1.3. Opportunities
5.1.3.1. Consumer Preference from Traditional Heating Equipment to Electric Heating Equipment
5.1.3.2. Integration of Internet of Things (IoT) and Other Advanced Technologies with Heat Pump Systems and Unitary Heaters
5.1.4. Challenges
5.1.4.1. Environmental Pollution with the Usage of Heating Equipment
5.2. Market Segmentation Analysis
5.2.1. Product: Rapid adoption of heat pumps as an economical heating equipment
5.2.2. Technology: Significant penetration of arc heating technology
5.2.3. Application: Expanding use of heating equipment in the industrial sector
5.3. Market Trend Analysis
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter’s Five Forces Analysis
5.6.1. Threat of New Entrants
5.6.2. Threat of Substitutes
5.6.3. Bargaining Power of Customers
5.6.4. Bargaining Power of Suppliers
5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis
5.9. Client Customization
6. Heating Equipment Market, by Product
6.1. Introduction
6.2. Boilers
6.3. Furnaces
6.4. Heat Pumps
6.5. Unitary Heaters
7. Heating Equipment Market, by Technology
7.1. Introduction
7.2. Arc Heating
7.3. Dielectric Heating
7.4. Induction Heating
7.5. Infrared Heating
7.6. Power Frequency Heating
7.7. Resistance Heating
8. Heating Equipment Market, by Application
8.1. Introduction
8.2. Commercial
8.3. Industrial
8.4. Residential
9. Americas Heating Equipment Market
9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States
10. Asia-Pacific Heating Equipment Market
10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam
11. Europe, Middle East & Africa Heating Equipment Market
11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom
12. Competitive Landscape
12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
12.3.1. Carrier Launches Multiple Lines of Commercial High-Temperature Heat Pumps Helping Customers Meet Decarbonisation Goals
12.3.2. 3U Launches Heat Pump for Residential Applications
12.3.3. EHP Technology Launches Its New Geothermal Heat Mining System
13. Competitive Portfolio
13.1. Key Company Profiles
13.2. Key Product Portfolio

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