The air heating appliance market size is expected to reach US$ 17.5 illion by 2030, registering a CAGR of 5.6% from 2021 to 2030.
Air heating appliances are required to maintain an appropriate temperature at the desired level, by using thermal energy. These appliances are components used in the heating system. The demand for energy-efficient heating equipment in the market has increased over traditional heating equipment, which has led to the technological development of mechanical systems. This can provide desired heating of the environment and also fulfill the need for cost-efficiency.
The air heating appliances include two types of heating appliances, space heating appliances and water heating appliances. Space heating appliances and water heating appliances are mostly found in residential and commercial applications. Mostly small space heating appliances are used in residential buildings. The water heating appliances are used in large commercial buildings where outside air is restricted and temperature inside the building needs to be maintained at a certain level. The heating equipment market is dependent on various standards of buildings. ISO for instance is an environmental standard, which must be considered while installing heating equipment in the buildings. The space heating and water heating appliances not only operate on electric power but also use solar energy and fuels such as gas and oil. The efficiency of the heating system is often increased by using residual heat from the exhaust for preheating or heating up low-grade appliances. Water heating efficiency is important in heavy industries, which depends on pumps, heat exchangers, pipe insulations, and radiators. Heating equipment manufacturing companies are focusing on technological developments, which are energy-saving and reduce their dependency on fossil fuels. Asia-Pacific has a huge market for solar-based energy appliances. India and China have many heavy manufacturing industries, which use these furnaces and boilers. Extreme cold weather regions in Europe, which include Germany, the UK, parts of Russia, and similar cities in the U.S. such as Alaska and Seattle have the largest market share for heat pumps and unitary heaters. However, there is a rise in the need for boilers and furnaces in the U.S. as well, which in turn is expected to boost the air heating appliance market growth.
An increase in industrialization has led to surge in demand for heating equipment in various industries such as mining and power generation. An increase in energy bills and strict regulations considering the environmental norms have enforced various commercial organizations and industries to install heating equipment in their operating areas. In addition, the surge in demand for remote access control systems, which are easy to operate has considerably led to foster the growth in investments of the market by the commercial, industrial, and residential end users. This growth in investments of the market has led to the development of advanced heating equipment that has various sensors and that can be operated from remote locations. Development in the infrastructure of residential, commercial, and industrial buildings have also surged the demand for heating equipment in the air heating appliance market.
However, the market has increased competency among various players such as Ingersoll-Rand, United Technologies, and Johnson Controls, owing to lack of product type differentiation depending on the working principle and features among their product types. This factor is a major restraint for companies. In addition, duplication of the existing products and substitutes in the local market has hampered the growth of the air heating appliance market to an extent. However, increase in investments has led to research of more advanced technology with an objective to develop distinct products such as room heaters and boilers. The trend shows that these factors are expected to fuel the growth of the market during the forecast period. An increase in government initiative in terms of improving energy efficiency in various industries such as power, mining, and automotive is anticipated to provides lucrative opportunities for the growth of the air heating appliance market during the forecast period.
Based on type, the space heating appliance segment contributed to more than two-thirds of the total market share in 2020, and is anticipated to rule the roost by 2030. The same segment would also grow at the fastest CAGR of 5.6% during the forecast period.
Based on end user, the residential segment accounted for nearly two-fifths of the total market revenue in 2020, and is expected to retain its dominance by the end of 2030. At the same time, the commercial segment would manifest the fastest CAGR of 6.1% from 2021 to 2030.
Based on geography, Asia-Pacific garnered the highest share in 2020, holding nearly half of the global market. Simultaneously, the market across LAMEA would showcase the fastest CAGR of 6.3% by 2030. The other two regions studied in the report include North America and Europe.
Key companies profiled in the air heating appliance market report include Alfa Laval Corporate AB, Daikin Industries, Ltd, Danfoss A/S, Emerson Electric Co., General Electric Company, Ingersoll-Rand Plc, Johnson Controls International Plc, Lennox International Inc, Robert Bosch GmbH, and Vaillant Group.
Global Market Segments
By Fuel Type
The report provides revenue of the global air heating appliance market for the period 2017–2030, considering 2021 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global market during the forecast period. The global air heating appliance market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2021 to 2030.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted air heating appliance market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global air heating appliance market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global air heating appliance market.
The report delves into the competitive landscape of the global air heating appliance market. Key players operating in the global air heating appliance market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global air heating appliance market that have been profiled in this report.
The air heating appliance market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to air heating appliance market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of air heating appliance market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new air heating appliance market. These factors have benefited the growth of the global market for air heating appliance. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for air heating appliance.
In this study, the years considered to estimate the market size of air heating appliance are as follows:
• History Year: 2016-2020
• Base Year: 2020
• Estimated Year: 2021
• Forecast Year 2021 to 2030
Major highlights of report:
• Figures related to sales volume, market remuneration, and segmental shares
• Featuring market dynamics
• Growth prospects and expansion graph
• PROCON study of direct & indirect sales channels
• Profiles of prominent traders, dealer, and distributors in the industry
Geographical landscape: North America, Europe, Asia-Pacific, South America, Middle East and Africa
• Industry forecasts based on region and at country level
• Data about sales volume recorded, industry share held, and profit margins amassed
• Overall remuneration and estimated growth rate for each regional market
Major Key Points Covered in Report:
Executive Summary: It includes key trends of the air heating appliance market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the air heating appliance market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the air heating appliance market.
Market Segments: This part of the report discusses about product, application and other segments of the air heating appliance market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
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