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Global Heating Equipment Market to be Driven by Increasing Energy-Efficient Heating System in the Forecast Period of 2021-2026

Heating Equipment Market

The new report by Expert Market Research titled, ‘Global Heating Equipment Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives in-depth analysis of the global heating equipment market, assessing the market based on its segments like product, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.

Get a Free Sample Report with Table of Contents – https://www.expertmarketresearch.com/reports/heating-equipment-market/requestsample

The key highlights of the report include:

Market Overview (2016-2026): –

• Historical Market Size (2020): USD 35.1 Billion
• Forecast CAGR (2021-2026): 5.8%

Technological advancements, as well as government attempts to increase energy efficiency across industries, are driving the heating equipment market. In the approaching years, it is also projected that rising construction expenditures will increase product demand. Initiatives like as the United States’ Leadership in Energy and Environmental Design (LEED) are expected to aid the sector’s development. Due to an increase in industrial sector restoration and remodelling, demand for industrial furnaces is expected to expand in the future years in the United States. The presence of a strong legislative structure pertaining to HVAC systems and building rules is also predicted to accelerate market expansion throughout the forecast period. The worldwide market is fiercely competitive, and large corporations are focusing their efforts on lowering the overall cost of the item by taking advantage of high technological prices and assembly expenses.

Industry Definition and Major Segments

Heating equipment is a device that uses thermal energy to heat houses, offices, or other places of living. It is frequently found as part of the HVAC system (heating, ventilation, air conditioning).

Read Full Report with Table of Contents – https://www.expertmarketresearch.com/reports/heating-equipment-market

The industry can be divided based on product as:

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

The industry can be broadly categorised based on application into:

• Residential
• Commercial
• Industrial

Based on region, the market is segmented into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Market Trends

The market is likely to be driven by government programs to improve energy efficiency across industries, as well as technical advances, increasing the number of energy-efficient heating systems installed. Over the next few years, rising construction spending is expected to contribute to increased product demand. Initiatives in the United States, such as Leadership in Energy and Environmental Design (LEED), are also expected to help the industry flourish. The demand for industrial furnaces in the United States is likely to rise in the coming years as the industrial sector undergoes more refurbishment and repair. In addition, the country’s strict regulatory environment is likely to propel market expansion over the projection period. The worldwide market is fiercely competitive, and large corporations are focusing on lowering overall product costs by leveraging significant technological costs and high installation costs. As a result, corporations are spending in research and development to develop efficient technologies, remote monitoring devices, and control systems in order to increase their market position. Government programs that promote the green transition, such as the Climate Action Programme (COP21), are expected to boost the development of energy-efficient products. For air conditioners and heat pumps, manufacturers must adhere to the US Department of Energy’s (DOE) energy-saving guidelines. Increasing disposable income levels in both established and developing nations has resulted in an increase in demand for technologically advanced systems and pleasant housing solutions, which is expected to continue to grow. Furthermore, increasing the number of renovation operations as a result of easy credit or financial assistance is expected to boost the market growth.

Key Market Players

The major players in the market are Danfoss A/S, Carrier [United Technologies Corporation], Ingersoll-Rand plc [NYSE: IR], Lennox International, Inc., Rotex Heating Systems GmbH [Daikin Industries, Ltd.], Robert Bosch GmbH, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

Media Contact

Company Name: Claight Corporation
Contact Person: Shira Ellis Business Consultant
Email: sales@expertmarketresearch.com
Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: https://www.expertmarketresearch.com

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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