Air Heating Appliance Market Analysis - 2027
Global air heating appliance market size was valued at $12,583.7 million in 2019, and is projected to reach $16,894.6 million by 2027, registering a CAGR of 5.1% from 2020 to 2027. 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.
By Type
Space Heating Appliance segment is projected to grow at a significant CAGR
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.
By Fuel Type
Gas Powered Heating Appliance segment holds dominant position in 2019
The global air heating appliance market is segmented on the basis of type, fuel type, end-user industry, and region. By type, the market is categorized into a space-heating appliance, and water heating appliance. Depending on fuel type, it is fragmented into gas-powered heating appliance, oil-powered heating appliance, electricity-powered heating appliance, and solar energy powered heating appliance. Based on end-user, the market is categorized into residential, commercial, and industrial. Region wise, the air heating appliance market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific dominated the market in 2019, accounting for the highest share, and LAMEA is anticipated to maintain this trend throughout the forecast period.
By Region
Asia-Pacific holds a dominant position in 2019 and LAMEA is expected to grow at a significant rate during the forecast period.
Competition Analysis
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.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging air heating appliance market trends and dynamics.
- In-depth air heating appliance market analysis is conducted by the constructing market estimations for the key market segments between 2019 and 2027.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global air heating appliance market forecast analysis from 2020 to 2027 is included in the report.
- The key players within air heating appliance market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the air heating appliance industry.
Air Heating Appliance Market Report Highlights
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Analyst Review
The air heating appliance market has witnessed significant growth in the past few years due to increasing urban population, industrialization, and stringent government norms for installing high energy efficient air heating appliance.
An increase in industrialization has led to surge in demand for heating equipment in various industries like mining and power generation. Increase in energy bills and stringent regulations considering the environmental norms have enforced various commercial organizations and industries to install heating equipment in their operating areas. In addition, surge in demand for remote access control systems, which are easy to operate fosters 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 has also increased the demand for heating equipment in the market.
However, the presence of substitute products and competition from domestic manufacturers have been projected to hamper the growth of the global air heating appliance market. Increase in government initiatives in terms of improving the energy efficiency in industries such as automotive, power, and mining is anticipated to provide the lucrative opportunities for the growth of the air heating appliance market.
Rise in urbanization & industrialization in developing countries are the key trends in the air heating appliance market.
High initial costs and, fluctuating raw material prices are the effecting factors for air heating appliance market.
To get latest version of air heating appliance market report can be obtained on demand from the website.
The product launch is key growth strategy of air heating appliance industry players.
The air heating appliance market size was valued at $12,583.7 million in 2019.
Based on type, the space heating appliance segment holds the maximum market share of the air heating appliance market in 2019.
The top ten market players are selected based on two key attributes - competitive strength and market positioning
The applications of air heating appliance include residential, industrial, and commercial spaces.
The air heating appliance market is projected to reach $16,894.6 million by 2027.
The company profile has been selected on factors such as geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
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