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Heating Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global heating equipment market reached a value of US$ 36.2 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 5.5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Heating equipment refers to the devices used for warming or maintaining the desired temperature in an enclosed space. The equipment is usually centralized for heat, air and forced displacement of ventilation and consists of a heat pump that disseminated hot water, steam or air through the ducts. Some of the commonly available heating equipment includes heat pumps, boilers, furnaces and space heaters. These devices aid in conserving energy and maximizing comfort for the users. As a result, they are widely used across various industries, such as automotive, construction, steel fabrication, food processing and healthcare.

Heating Equipment Market Trends:

Significant growth in the construction industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, the increasing requirement for energy-efficient heating systems is providing a thrust to the market growth. The heating equipment is widely used in countries with extreme cold temperatures to increase the ambient temperatures with minimal impact on the environment. Additionally, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT) and artificial intelligence (AI), are acting as other growth-inducing factors. These technologies enable the user to remotely control the heating equipment through smartphones and wearable devices. Product manufacturers are also developing innovative and self-contained heating equipment units for residential and small business complexes and central heating systems for larger commercial spaces. Other factors, including rapid industrialization, along with the implementation of favorable government policies to promote the construction of sustainable and energy-efficient structures, are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global heating equipment market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on product and application.

Breakup by Product:

  • Heat Pumps
  • Furnaces
  • Boilers
  • Unitary Heaters
  • Others
     

Breakup by Application:

  • Residential
  • Commercial
  • Industrial
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Daikin Industries Ltd., Emerson Electric Co., Honeywell International Inc., Johnson Controls, Lennox International Inc., Mitsubishi Electric Corporation, Panasonic Corporation, Robert Bosch GmbH, Schneider Electric SE, Siemens AG and The Danfoss Group.

Report Coverage:

Report Features Details
Base Year of the Analysis 2020
Historical Period 2015-2020
Forecast Period 2021-2026
Units US$ Billion
Segment Coverage Product, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Daikin Industries Ltd., Emerson Electric Co., Honeywell International Inc., Johnson Controls, Lennox International Inc., Mitsubishi Electric Corporation, Panasonic Corporation, Robert Bosch GmbH, Schneider Electric SE, Siemens AG and The Danfoss Group
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Key Questions Answered in This Report:

  • How has the global heating equipment market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global heating equipment market?
  • What are the key regional markets?
  • What is the breakup of the market based on the product?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global heating equipment market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Heating Equipment Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Product
    6.1    Heat Pumps
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Furnaces
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Boilers
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Unitary Heaters
        6.4.1 Market Trends
        6.4.2 Market Forecast
    6.5    Others
        6.5.1 Market Trends
        6.5.2 Market Forecast
7    Market Breakup by Application
    7.1    Residential
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Commercial
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Industrial
        7.3.1 Market Trends
        7.3.2 Market Forecast
8    Market Breakup by Region
    8.1    North America
        8.1.1 United States
           8.1.1.1 Market Trends
           8.1.1.2 Market Forecast
        8.1.2 Canada
           8.1.2.1 Market Trends
           8.1.2.2 Market Forecast
    8.2    Asia-Pacific
        8.2.1 China
           8.2.1.1 Market Trends
           8.2.1.2 Market Forecast
        8.2.2 Japan
           8.2.2.1 Market Trends
           8.2.2.2 Market Forecast
        8.2.3 India
           8.2.3.1 Market Trends
           8.2.3.2 Market Forecast
        8.2.4 South Korea
           8.2.4.1 Market Trends
           8.2.4.2 Market Forecast
        8.2.5 Australia
           8.2.5.1 Market Trends
           8.2.5.2 Market Forecast
        8.2.6 Indonesia
           8.2.6.1 Market Trends
           8.2.6.2 Market Forecast
        8.2.7 Others
           8.2.7.1 Market Trends
           8.2.7.2 Market Forecast
    8.3    Europe
        8.3.1 Germany
           8.3.1.1 Market Trends
           8.3.1.2 Market Forecast
        8.3.2 France
           8.3.2.1 Market Trends
           8.3.2.2 Market Forecast
        8.3.3 United Kingdom
           8.3.3.1 Market Trends
           8.3.3.2 Market Forecast
        8.3.4 Italy
           8.3.4.1 Market Trends
           8.3.4.2 Market Forecast
        8.3.5 Spain
           8.3.5.1 Market Trends
           8.3.5.2 Market Forecast
        8.3.6 Russia
           8.3.6.1 Market Trends
           8.3.6.2 Market Forecast
        8.3.7 Others
           8.3.7.1 Market Trends
           8.3.7.2 Market Forecast
    8.4    Latin America
        8.4.1 Brazil
           8.4.1.1 Market Trends
           8.4.1.2 Market Forecast
        8.4.2 Mexico
           8.4.2.1 Market Trends
           8.4.2.2 Market Forecast
        8.4.3 Others
           8.4.3.1 Market Trends
           8.4.3.2 Market Forecast
    8.5    Middle East and Africa
        8.5.1 Market Trends
        8.5.2 Market Breakup by Country
        8.5.3 Market Forecast
9    SWOT Analysis
    9.1    Overview
    9.2    Strengths
    9.3    Weaknesses
    9.4    Opportunities
    9.5    Threats
10    Value Chain Analysis
11    Porters Five Forces Analysis

    11.1    Overview
    11.2    Bargaining Power of Buyers
    11.3    Bargaining Power of Suppliers
    11.4    Degree of Competition
    11.5    Threat of New Entrants
    11.6    Threat of Substitutes
12    Price Analysis
13    Competitive Landscape

    13.1    Market Structure
    13.2    Key Players
    13.3    Profiles of Key Players
        13.3.1    Daikin Industries Ltd.
           13.3.1.1 Company Overview
           13.3.1.2 Product Portfolio
           13.3.1.3 Financials
           13.3.1.4 SWOT Analysis
        13.3.2    Emerson Electric Co.
           13.3.2.1 Company Overview
           13.3.2.2 Product Portfolio
           13.3.2.3 Financials
           13.3.2.4 SWOT Analysis
        13.3.3    Honeywell International Inc.
           13.3.3.1 Company Overview
           13.3.3.2 Product Portfolio
           13.3.3.3 Financials
           13.3.3.4 SWOT Analysis
        13.3.4    Johnson Controls
           13.3.4.1 Company Overview
           13.3.4.2 Product Portfolio
           13.3.4.3 Financials
           13.3.4.4 SWOT Analysis
        13.3.5    Lennox International Inc.
           13.3.5.1 Company Overview
           13.3.5.2 Product Portfolio
           13.3.5.3 Financials
           13.3.5.4 SWOT Analysis
        13.3.6    Mitsubishi Electric Corporation
           13.3.6.1 Company Overview
           13.3.6.2 Product Portfolio
           13.3.6.3 Financials
           13.3.6.4 SWOT Analysis
        13.3.7    Panasonic Corporation
           13.3.7.1 Company Overview
           13.3.7.2 Product Portfolio
        13.3.8    Robert Bosch GmbH
           13.3.8.1 Company Overview
           13.3.8.2 Product Portfolio
           13.3.8.3 SWOT Analysis
        13.3.9    Schneider Electric SE
           13.3.9.1 Company Overview
           13.3.9.2 Product Portfolio
           13.3.9.3 Financials
           13.3.9.4 SWOT Analysis
        13.3.10    Siemens AG
           13.3.10.1 Company Overview
           13.3.10.2 Product Portfolio
           13.3.10.3 Financials
           13.3.10.4 SWOT Analysis
        13.3.11    The Danfoss Group
           13.3.11.1 Company Overview
           13.3.11.2 Product Portfolio
           13.3.11.3 SWOT Analysis

List of Figures

Figure 1: Global: Heating Equipment Market: Major Drivers and Challenges
Figure 2: Global: Heating Equipment Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Heating Equipment Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 4: Global: Heating Equipment Market: Breakup by Product (in %), 2020
Figure 5: Global: Heating Equipment Market: Breakup by Application (in %), 2020
Figure 6: Global: Heating Equipment Market: Breakup by Region (in %), 2020
Figure 7: Global: Heating Equipment (Heat Pumps) Market: Sales Value (in Million US$), 2015 & 2020
Figure 8: Global: Heating Equipment (Heat Pumps) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 9: Global: Heating Equipment (Furnaces) Market: Sales Value (in Million US$), 2015 & 2020
Figure 10: Global: Heating Equipment (Furnaces) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Global: Heating Equipment (Boilers) Market: Sales Value (in Million US$), 2015 & 2020
Figure 12: Global: Heating Equipment (Boilers) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: Global: Heating Equipment (Unitary Heaters) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: Global: Heating Equipment (Unitary Heaters) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: Heating Equipment (Other Products) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: Global: Heating Equipment (Other Products) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: Global: Heating Equipment (Residential) Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: Global: Heating Equipment (Residential) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: Global: Heating Equipment (Commercial) Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: Global: Heating Equipment (Commercial) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Global: Heating Equipment (Industrial) Market: Sales Value (in Million US$), 2015 & 2020
Figure 22: Global: Heating Equipment (Industrial) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: North America: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 24: North America: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: United States: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: United States: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: Canada: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 28: Canada: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: Asia-Pacific: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 30: Asia-Pacific: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: China: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 32: China: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 33: Japan: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 34: Japan: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 35: India: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 36: India: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: South Korea: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 38: South Korea: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: Australia: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 40: Australia: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: Indonesia: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 42: Indonesia: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: Others: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 44: Others: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 45: Europe: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 46: Europe: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 47: Germany: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 48: Germany: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 49: France: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 50: France: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 51: United Kingdom: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 52: United Kingdom: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 53: Italy: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 54: Italy: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 55: Spain: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 56: Spain: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 57: Russia: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 58: Russia: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 59: Others: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 60: Others: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 61: Latin America: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 62: Latin America: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 63: Brazil: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 64: Brazil: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 65: Mexico: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 66: Mexico: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 67: Others: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 68: Others: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 69: Middle East and Africa: Heating Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 70: Middle East and Africa: Heating Equipment Market: Breakup by Country (in %), 2020
Figure 71: Middle East and Africa: Heating Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 72: Global: Heating Equipment Industry: SWOT Analysis
Figure 73: Global: Heating Equipment Industry: Value Chain Analysis
Figure 74: Global: Heating Equipment Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Heating Equipment Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Heating Equipment Market Forecast: Breakup by Product (in Million US$), 2021-2026
Table 3: Global: Heating Equipment Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 4: Global: Heating Equipment Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 5: Global: Heating Equipment Market: Competitive Structure
Table 6: Global: Heating Equipment Market: Key Players

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