The Heating Equipment Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Heating Equipment Market?
The market size of the heating equipment has seen a robust growth in recent years. It is projected to increase from $41.37 billion in 2024 to $44.28 billion in 2025. The compound annual growth rate (CAGR) is expected to be 7.1%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Heating Equipment Industry?
The Heating Equipment Global Market Report 2025 predicts that by 2029, the market size will grow to $57.08 billion. This growth represents a compound annual growth rate (CAGR) of 6.6%.
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What are the Key Growth Drivers Fueling the Heating Equipment Market?
The key drivers in the heating equipment market are:
• Emphasis on smart and connected heating solutions
• Integration of heat pumps and geothermal heating systems
• Adoption of district heating and combined heat and power (chp) systems
• Customization of heating solutions for unique building needs
Global Market Segmentation: Identifying Major Heating Equipment Industry Segments
The heating equipment market covered in this report is segmented –
1) By Product: Heat Pumps, Furnaces, Boilers, Unitary Heaters, Other Products
2) By Technology: Air Source, Water Source, Ground Source
3) By Application: Residential, Commercial, Industrial
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What are the Emerging Trends Shaping the Future of the Heating Equipment Market?
The key trends in the static and rotating equipment market are:
• The market for heating equipment is shifting towards smart and connected heating solutions.
• The integration of heat pumps and geothermal heating systems is being prioritized to improve efficiency.
• The focus is moving towards hybrid heating systems for optimal efficiency, along with the adoption of district heating and combined heat and power systems.
• Heightened demand for custom heating solutions, biofuels and biomass heating systems are being noticed as major forecasted trends.
Who Are the Top Competitors & Leading Players in the Heating Equipment Market?
Major companies in the heating equipment market are:
• Danfoss A/S
• United Technologies Corporation
• Trane Technologies plc
• Lennox International Inc.
• Robert Bosch GmbH
• Johnson Controls
• Emerson Electric Co.
• Honeywell International Inc.
• Siemens AG
• Daikin Industries Ltd.
• Uponor Corporation
• Mitsubishi Electric Corporation
• Nortek Inc.
• Pentair plc
• Nexans S.A.
• Carrier Global Corporation
• Lucky Gold star Electronics Inc.
• Panasonic Holdings Corporation
• Samsung Electronics Co. Ltd.
• Whirlpool Corporation
• Rheem Manufacturing Company
• A.O. Smith Corporation
• Bradford White Corporation
• Navien Inc.
• Rinnai Corporation
• Viessmann Werke GmbH & Co. KG
• Fujitsu General Ltd.
• Gree Electric Appliances Inc. of Zhuhai
• Haier Group Corporation
• Midea Group Co. Ltd.
• Nortek Global HVAC LLC
• Ruud Manufacturing Company
• Goodman Manufacturing Company L.P.
• York International Corporation
Regional Dominance: Which Area Leads the Global Heating Equipment Market?
Europe was the largest region in the heating equipment market in 2024
