PUBLISHER: The Business Research Company | PRODUCT CODE: 1664367
PUBLISHER: The Business Research Company | PRODUCT CODE: 1664367
Heating equipment, excluding warm air furnaces, refers to devices that utilize an energy source to heat either air or a liquid, providing warmth for various purposes. These devices find applications in industrial and commercial operations, including the purification of solvents through distillation, extraction processes using rotary evaporators, and the determination of physical parameters such as boiling point, melting point, flashpoint, and more.
The primary types of heating equipment, excluding warm air furnaces, include fireplaces, wood-burning stoves, supplemental heaters, low-pressure steam, hot water boilers, and furnaces. Fireplaces are open areas built into the structure of a home where a contained fire generates heat, creating a cozy atmosphere, and waste gases and smoke are safely expelled through a chimney. Businesses engaged in the heating equipment industry may be involved in new construction projects or retrofits. These heating solutions find use in various applications, including households, commercial establishments, and industrial settings.
The heating equipment(except warm air furnaces)market research report is one of a series of new reports from The Business Research Company that provides heating equipment(except warm air furnaces)market statistics, including heating equipment(except warm air furnaces)industry global market size, regional shares, competitors with heating equipment (except warm air furnaces)market share, detailed heating equipment(except warm air furnaces)market segments, market trends and opportunities, and any further data you may need to thrive in the heating equipment(except warm air furnaces)industry. This heating equipment (except warm air furnaces) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The heating equipment (except warm air furnaces) market size has grown strongly in recent years. It will grow from $52.19 billion in 2024 to $56 billion in 2025 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to energy efficiency regulations, population growth and urbanization, industrialization and commercial construction, government incentives and subsidies, consumer preferences for comfort.
The heating equipment (except warm air furnaces) market size is expected to see strong growth in the next few years. It will grow to $71.38 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to renewable energy integration, smart home integration, environmental sustainability standards, rising demand for retrofitting, global climate change concerns, market expansion in developing regions. Major trends in the forecast period include technological integration for efficiency, technological advancements, hydronic heating systems, decentralized heating solutions, advanced materials and design, electrification of heating.
The anticipated growth in the heating equipment (except warm air furnaces) market is driven by the increasing number of residential construction projects. Residential projects involve the construction of houses, apartments, and high-rise buildings, and heating equipment is crucial for controlling temperature and humidity in these projects. The primary aim is to provide thermal comfort and maintain acceptable indoor air quality. Consequently, the surge in both residential and commercial construction projects contributes to the rising demand for heating equipment (except warm air furnaces). For example, as of January 2023, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported a 12.8% increase, with 1.4 million residential houses constructed compared to January 2022. Therefore, the growth in residential construction projects acts as a driving force for the heating equipment market.
The growth of the heating equipment (except warm air furnaces) market is further fueled by the increasing emphasis on energy efficiency. Energy efficiency involves optimizing the utilization of energy resources to achieve desired outputs with minimal waste or energy loss. Heating equipment plays a crucial role in this scenario by offering enhanced thermal efficiency, supporting zoning, implementing proper insulation and building sealing, reducing reliance on conventional energy sources, and minimizing environmental impact. As of December 2022, the European Union aimed to enhance energy efficiency, setting a target of at least 32.5% by 2030. This emphasis on energy efficiency serves as a key driver for the growth of the heating equipment market.
Product innovations are a significant trend gaining traction in the heating equipment (excluding warm air furnaces) market. Leading companies in this sector are introducing innovative products to maintain their competitive edge. For example, in November 2022, Rondo Energy, a US-based company specializing in heating equipment, launched two models featuring a groundbreaking Rondo Heat Battery (RHB), namely the RHB100 and RHB300. The RHB provides zero-carbon heat for steel, cement, chemical manufacturing, and low-temperature food processing by storing heat energy at temperatures up to 1500°C for hours or even days. The Rondo heat battery utilizes low-cost technology that allows for rapid charging, high temperatures up to 1500°C, boasts a long service life, and enhances site efficiency.
Leading companies in the heating equipment (excluding warm air furnaces) market are concentrating on air-to-water heat pumps to boost their revenues. An air-to-water heat pump is a device that utilizes ambient air to either reject or absorb heat for heating or cooling, depending on its mode of operation. For example, in May 2023, Daikin Industries Ltd., a Japan-based company specializing in air conditioning, heating, ventilation, and refrigeration systems, introduced an air-to-water heat pump. This model features a reversing function that allows the chiller to switch between heating and cooling modes based on the temperature requirements of the process or space. With a coefficient of performance (COP) of 3.12 in heating mode and a seasonal coefficient of performance (SCOP) of 3.31, the device offers a heating capacity of 91.2 kW and a cooling capacity of 23.58 tons. The heat pump is equipped with a brazed plate evaporator that minimizes refrigerant pressure drops, maintains low discharge pressure, supports continuous fan speed modulation, features a large condenser coil surface area for optimal heat transfer, and utilizes high-efficiency scroll compressors.
In June 2022, Enerquip, LLC, a U.S.-based designer and fabricator of stainless-steel heat exchangers, acquired American Heating Company, Inc. (AHC). This strategic acquisition enables Enerquip to combine efforts and efficiencies, marking its entry into the industrial carbon steel market. American Heating Company Inc., based in the U.S., specializes in designing and manufacturing industrial heating equipment.
Major companies operating in the heating equipment (except warm air furnaces) market include Heatstar Limited, Red Dot Corporation, Thermal Solutions Products LLC, New Yorker Boiler Company Inc., DTE Biomass Energy Inc., Bard HVAC, Fulton Thermal Corporation, John Zink Company LLC, Toyotomi Co. Ltd., ECR International Inc., Daikin Industries Ltd., Ingersoll-Rand plc, Lennox International Inc., Robert Bosch GmbH, A.O. Smith Corporation, ABB Ltd., Bosch Thermotechnology Corp., Bradford White Corporation, Burnham Holdings Inc., Carrier Corporation, Danfoss A/S, Emerson Electric Co., Ground Heaters Inc., Honeywell International Inc., HTP Comfort Solutions LLC, Johnson Controls International plc, Laars Heating Systems Company, Lochinvar LLC, Mitsubishi Electric Corporation
North America was the largest region in the heating equipment (except warm air furnaces) market in 2024. The regions covered in the heating equipment (except warm air furnaces) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the heating equipment (except warm air furnaces) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The heating equipment (except for warm air furnaces) market consists of sales of heating boilers, heating stoves, floor and wall furnaces, wall and baseboard heaters, and heating units. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Heating Equipment (Except Warm Air Furnaces) Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on heating equipment (except warm air furnaces) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for heating equipment (except warm air furnaces) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The heating equipment (except warm air furnaces) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.