Warm Air Heating Equipment Market Size, Share, Trends, Growth, and Industry Analysis, By Product Type (Heat Pumps and Humidifying Equipment), By Fuel Type (Electric Powered, Gas-Powered, Hybrid, and Solar Powered), By Application (Air to Air and Air to Water), By Implementation (New Construction and Maintenance), By End-User Industry (Residential, Commercial, and Industrial), By Business Type (Original Equipment Manufacturer (OEM) and Aftermarket), Regional Insights and Forecast to 2031
The Global Warm Air Heating Equipment Market size was valued at USD 136 billion and is estimated to reach USD 195.26 billion by 2031 and is expected to be growing at a CAGR of 7.5 % throughout the forecast period.
Econ Market Research’s report on Warm Air Heating Equipment studies the past and current opportunities of growth and trends to get a clear picture of the growth indicators of the market for the forecast period 2023 to 2031. The report also offers the revenue generated by the Warm Air Heating Equipment market considering 2021 as the historical year, 2022 as the base year, and 2031 as the forecast year. The report also consists of the compound annual growth rate (CAGR) for the Warm Air Heating Equipment market over the forecast period.
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The global warm air heating equipment market is experiencing significant growth and will grow considerably in the next few years. Warm air heating equipment is extensively used to keep the interior space of a building comfortable for its occupants. In temperate and cold zones of the earth, the use of warm air heating equipment is a necessity. thus being a key driver in the growth of the warm air heating equipment market throughout the forecast period. The warm air heating equipment is available in a wide range of varieties with respect to size, capacity, and fuel used, which increases its application and makes it suitable in various conditions. The warm air heating equipment is used in industries and warehouses as well, which further positively influences the growth of the market for warm air heating equipment.
COVID-19 Impact analysis
The COVID-19 pandemic has shut down the production of various products in the warm air heating equipment industry, which has been attributed to the lockdown in countries worldwide. This has hampered the growth of the market in the last few months and is likely to continue in 2021. COVID-19 had affected the sales of warm air heating equipment in the second quarter of 2020, as the demand witnessed a steep decline due to restrictions in construction activities. Major players in the real estate industry decreased the construction of residential and commercial buildings in the wake of reduced demand due to COVID-19.
Warm Air Heating Equipment Market REPORT SCOPE & SEGMENTATION
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Report Attribute |
Details |
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Projected Market Value (2031) |
195.26 billion |
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Estimated Market Value (2022) |
136 billion |
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Base Year |
2022 |
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Forecast Years |
2023 - 2031 |
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Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Product Type, By Fuel, By Application, By Implementation, By End-User Industry, By Business Type, & Region |
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Segments Covered |
By Product Type, By Fuel, By Application, By Implementation, By End-User Industry, By Business Type, & Region |
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Forecast Units |
Value (USD Billion), and Volume (Units) |
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Quantitative Units |
Revenue in USD million/billion and CAGR from 2023 to 2031 |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
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Countries Covered |
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
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Report Coverage |
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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Delivery Format |
Delivered as an attached PDF and Excel through email, according to the purchase option. |
Top Impacting Factors
Heating equipment is a necessity in cold regions, and the exponential increase in demand during the winter season is the major driver of the growth of the warm air heating equipment market. Modern warm air heating equipment has a faster warm-up time and heats the required space quickly; this equipment also eliminates the need for radiators, which increases the usable space in the room, which further increases its desirability for the users. Warm air equipment is renowned for its silent operations, thus not causing any hindrance to the user. Modern warm air heating equipment provides electronic controls such as thermostats and can also filter up to 95% of airborne particles, further increasing its demand. The high initial cost of installation of a warm air heating system and its inability to heat domestic water are the major restraints on the growth of the warm air heating equipment market. The increasing initiative by governments towards the decarbonization of the environment and the advancements in efficiency of warm air heating equipment will ensure steady growth of the warm air heating equipment market throughout the forecast period.
Market Trends
NIBE Group, a Sweden-based company that develops intelligent and energy-efficient indoor comfort solutions for all kinds of building spaces, acquired WATERKOTTE GmbH, a Germany-based manufacturer of advanced heat pump systems. This acquisition is predicted to increase the footprint of NIBE Group in the European heat pump market.
The key players in the industry are committed to developing smart devices with improved connectivity. For instance, in October 2020, Daikin Applied expanded its portfolio of Smart Source, which are compact heat pumps that provide a broader range of applications, making them ideal for new construction and retrofit projects with a limited budget.
Development of more efficient products that contribute to the decarbonization of the environment and are eligible for grants and subsidies provided by various governments is another strategy adopted by the leading players in the industry.
Daikin, a global HVAC manufacturer, has expressed its support for Europe’s Green Deal and believes that constant innovations in heat pump technology will help decarbonize Europe by 2050.
Regional Analysis
The Asia-Pacific was the largest region in the warm air heating equipment market in 2022. North America was the second-largest region in the global market for warm air heating equipment. The regions covered in the global warm air heating equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Competitive Landscape
The report provides a competitive landscape on both the quantitative and qualitative research of the market for warm air heating equipment. The report also provides detailed insights on the development methods used by the key market players. The report offers deep research on the key market players and details on the competitiveness of these players. The main business strategies used by these players, such as mergers and acquisitions (M&A), collaborations, affiliations, and contracts, are also discussed and analysed in the report. For each competitor, the report studies their global presence, service offerings, competitors, and specifications. The main players covered by the study on the global warm air heating equipment market are:
Key Benefits of the Report
Warm Air Heating Equipment Market Report Segmentation
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ATTRIBUTE |
DETAILS |
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By Product Type |
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By Fuel Type |
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By Implementation |
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By Application |
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By End User Industry |
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By Business Type |
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By Geography |
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Customization Scope
Pricing
The Report Answers Questions Such As:
Research Methodology
Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region. The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.
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Primary Research
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Secondary Research
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Top-Down Approach & Bottom-Up Approach
In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.
In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.
This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.
Market Analysis & size Estimation
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Quality Checking & Final Review
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