District Heating Global Market Report 2023 – By Plant Type (Boiler, Combined Heat and Power (CHP), Others Plant Types), By Heat Source (Coal, Natural Gas, Renewables, Oil and Petroleum Products), By Application (Residential, Commercial, Industrial) – Market Size, Trends, And Global Forecast 2023-2032

The underfloor heating are systems that are used to warm the floor or act as a primary heat source. Underfloor heating works by distributing a lower temperature of warm water through a circuit of pipes under the finished floor. Intelligent thermostats then monitor and control the heat to maintain a consistent temperature throughout the property or individual zones. The main types of underfloor heating are hydronic underfloor heating and electric underfloor heating. A hydronic underfloor heating system consists of a network of pipes running beneath the floor with hot water heated by a boiler flowing through the pipes to heat the substrate and, as a result, the room. Heating cables are used for the comfortable radiant heating of new or refurbished commercial buildings. The installations are of two types: new installations and retrofit installations. Underfloor heating is used in residential, commercial, institutional, and industrial areas. The global underfloor heating market is segmented - 1) By Type: Hydronic Underfloor Heating, Electric Underfloor Heating 2) By Installation: New installations, Retrofit installations 3) By Application: Residential, Commercial, Institutional The global underfloor heating market size grew from $4.95 billion in 2022 to $5.21 billion in 2023 at a compound annual growth rate (CAGR) of 5.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global underfloor heating market is expected to grow to $6.45 billion in 2027 at a CAGR of 5.5%. Strong government support and incentives toward the adoption of underfloor heating solutions are driving the market. Government institutions across the globe are providing grants and incentives for the upgrade of existing heating systems and the adoption of renewable-source based heating systems. For instance, in 2020, the UK government launched The Green Homes Grant, which offers a financial grant of GBP 5,000 or GBP 10,000 to low-income households in the UK that covers labour and materials costs associated with the installation of heating improvement systems. These initiatives or grant schemes by governments are expected to boost the underfloor heating solutions market during the forecast period. Major players in the underfloor heating market are Siemens AG, Mitsubishi Electric Corporation, Pentair plc, Emersion Electric Co, Honeywell International Inc., Uponor Corporation Amuheat, Robert Bosch GmbH, Danfoss, Schneider Electric, Uponor Corporation, Schlüter-Systems Ltd., Polypipe, SALUS North America, Hurlcon Hydronic Heating, Amuheat, ESI Heating and Cooling, and Januaryes Radiant. Strategic partnerships between companies are a recent trend that is gaining popularity in the underfloor heating market. Companies in the underfloor heating market are entering into a strategic collaboration with technology players for the development of technologically advanced underfloor heating products with innovative features. For instance, in January 2020, nVent Electric plc, a Canada-based provider of electric radiant floor heating solutions, entered into a strategic collaboration with MAPEI to develop and launch "MAPEI Mapeheat with Technology from nVent" in the USA market. In February 2021, Polypipe Group, an Italy-based manufacturer of plastic pipes and heating solutions, acquired Nu-Heat for $27 million. With this acquisition, Polypipe is focusing on broadening its market reach in climate management solutions across the globe. Nu-Heat is a UK-based provider of underfloor heating solutions. Western Europe was the largest region in the underfloor heating market share in 2022. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the global underfloor heating market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the underfloor heating market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The underfloor heating market consists of sales of different types of underfloor heating systems include hydronic underfloor heating, electric underfloor heating, heating cables, and heating mats. 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. The underfloor heating market research report is one of a series of new reports from The Business Research Company that provides underfloor heating market statistics, including underfloor heating industry global market size, regional shares, competitors with an underfloor heating market share, detailed underfloor heating market segments, market trends and opportunities, and any further data you may need to thrive in the underfloor heating industry. This underfloor heating 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 ductless heating and cooling systems are used to control air temperature, resulting in better airflow and more comfortable temperatures. These systems are less expensive than installing central heating and air conditioning with no existing ducts and are handier than single-room heaters and window air conditioners. It offers varied control, energy savings, and improved air quality, enabling it to increase the efficiency and comfort of indoor environments. The main types of ductless heating and cooling systems are cooling only split system, heat pump, chilled water system and window air conditioners. The cooling only split system are an HVAC system that includes indoor and outdoor units linked by copper tubing. Split systems have a heat pump or air conditioner installed outside the home and a gas furnace or a fan coil inside. These ductless heating and cooling systems are commonly used in residential, commercial and industrial areas. The global ductless heating and cooling systems market is segmented - 1) By Type: Cooling Only Split System, Heat Pump, Chilled Water System, Window Air Conditioners 2) By Application: Residential, Commercial, Industrial The global ductless heating and cooling systems market size grew from $71.67 billion in 2022 to $77.62 billion in 2023 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ductless heating and cooling systems market size is expected to grow to $111.39 billion in 2027 at a CAGR of 9.5%. The growing number of smart homes is expected to significantly contribute to the growth of the ductless heating and cooling systems market. Smart homes give customers more control over home energy consumption by automating tasks such as regulating temperature, turning on/off lights, opening and shutting window treatments, and adjusting watering based on weather. These facilities ensure to save electricity and reduce power and water bills. For instance, according to a survey by Oberlo, a Lithuania-based software development company, in 2022, nearly 57.4 million households in the US are currently using smart home devices, which is a 6.7% increase from 2021 where the number was 53.8 million households using smart home devices. Therefore, the growing number of smart homes will drive the ductless heating and cooling systems market. Major players in the ductless heating and cooling systems market are Daikin Industries Ltd., Fujitsu General Ltd., Hitachi Ltd., LG Electronics Corp, Johnson Controls International, Carrier Global Corporation, Whirlpool Corporation, Mitsubishi Electric Corporation, Samsung Electronics Co Ltd., Trane Technologies plc, Trane Technologies plc, Electrolux AG, Ingersoll-Rand plc, Emerson Electric Co, Honeywell International Inc., Lennox International Inc., A.O Smith Water Products Company B.V, Nortek Air Solutions, LLC and Haier Smart Home. Technological innovation is a key trend gaining popularity in the ductless heating and cooling systems market. Major companies operating in the ductless heating and cooling systems market are focused on providing technologically-advanced devices to strengthen their market position. These companies are implementing next-generation technologies into their devices and framework, such as automation, Internet of Things, advanced control algorithms, inverter-driven compressors, intelligent valves, and others to provide independent humidity and temperature control while eliminating the need for environmentally hazardous refrigerants. For instance, in March 2021, Carrier, a US-based home appliance company introduced new ductless heating and cooling products that are fully communicative to provide versatility and energy efficiency. These ductless heating and cooling systems market include a wireless remote controller, an optional cable remote controller, a 24V interface, and a Wi-Fi kit. In June 2021, Carrier Global, a US-based home appliances corporation, acquired Guangdong Giwee Group and its subsidiaries, including Guangdong Chigo Heating & Ventilation Equipment Co. Ltd., for an undisclosed amount. With this acquisition, Carrier will access the fast-increasing variable refrigerant flow (VRF) and light commercial markets. Guangdong Giwee Group is a China-based heating, ventilation, and air conditioning manufacturer. Asia-Pacific was the largest region in the ductless heating and cooling system market in 2022. The regions covered in the ductless heating and cooling systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the ductless heating and cooling system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The ductless heating and cooling system market consists of sales of single zone and multi zone 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. The ductless heating and cooling systems market research report is one of a series of new reports from The Business Research Company that provides ductless heating and cooling systems market statistics, including ductless heating and cooling systems industry global market size, regional shares, competitors with a ductless heating and cooling systems market share, detailed ductless heating and cooling systems market segments, market trends and opportunities, and any further data you may need to thrive in the ductless heating and cooling systems industry. This ductless heating and cooling systems 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.

Solar district heating refers to systems, which consist of thermal collectors that capture solar heat to generate hot water. The thermal collector capture energy from the sun into thermal transfer fluid, which is transferred to the mechanical room. In the mechanical room, the heated water is circulated using pipes to transfer heat as the utility to customers, residents, and others. The different types of systems in solar district heating include small systems and large systems. The small solar heating district system refers to systems with less than 1000 m2 of solar collector area and less than 1000 m3 of seasonal thermal energy storage volume. Solar district heating systems are widely used in residential, commercial, and industrial applications. The global solar district heating market is segmented – 1) By System: Small System, Large System 2) By Application: Residential, Commercial, Industrial The global solar district heating market size will grow from $2.85 billion in 2022 to $3.27 billion in 2023 at a compound annual growth rate (CAGR) of 14.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global solar district heating is expected to grow to $5.43 billion in 2027 at a CAGR of 13.5%. The growing adoption of sustainable energy is driving the growth of the solar district heating market. Governments, residents and industries across the globe are focusing on adopting sustainable energy to decrease the dependency on conventional energy consumption and increase the utilization of clean energy such as solar, wind, hydropower, and bioenergy. The growing adoption of sustainable energy is expected to boost the utilization of solar district heating systems, as they offer the most cost-effective heating solutions to commercial, residential, and industrial customers, over the existing heating solutions. According to the International Energy Agency (IEA) Renewable Energy Market Update 2021, Net renewable capacity additions in 2022 are estimated to increase from 269.9GW in 2021 to 279.6GW in 2022. Solar renewable energy expansion to increase from 145W in 2021 to 162GW in 2022. Thus, the growing adoption of sustainable energy is expected to boost the utilization of solar district heating during the forecast period. Major players in the solar district heating market are DESMI, Goteborg Energi, Keppel DHCS, Korea District Heating Corporation, LOGSTOR, Orsted, Shinryo, Statkraft, Arcon-Sunmark, Savosolar, Aalborg, NRG Energy, Alfa Laval, Bosch Thermotechnology Ltd., and Hansen Technologies. Strategic collaborations and partnerships are the key trends in the solar district heating market. The key players in the solar district heating market are entering into a strategic partnership with technology-based companies to develop technologically developed systems and expand their business operations across the globe. For instance, In May 2022 ENGIE Africa, a South African-based natural gas and energy company, inked a collaboration agreement with Gabon's Ministry of Energy. The project's purpose is to electrify off-grid families around the country by selling and delivering high-quality solar home system kits. In April 2020, Greenonetec, a Europe-based manufacturer of collector systems acquired Sunmark for an undisclosed amount. The acquisition is focused on integrating solar businesses in two firms and expanding their collector systems and solar district heating business across Europe and North America. Sunmark is a Europe-based company involved in the development and implementation of solar district heating projects. Western Europe was the largest region in the solar district heating market in 2022. Asia-Pacific is expected to be the fastest-growing region in the solar district heating market share during the forecast period. The regions covered in the solar district heating market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the solar district heating market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The solar district heating market includes revenues earned by entities by providing services such as thermal energy storage, district heating system, and seasonal storage with the aid of solar thermal collectors and flat-plate collectors. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. 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. The solar district heating market research report is one of a series of new reports from The Business Research Company that provides solar district heating market statistics, including solar district heating industry global market size, regional shares, competitors with a solar district heating market share, detailed solar district heating market segments, market trends and opportunities, and any further data you may need to thrive in the solar district heating industry. This solar district heating market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Heating equipment is a device that generates heat to regulate a space's temperature using thermal energy. A freestanding stove, fireplace, or non-electric stove are some heating devices intended to generate heat for a room or indoor area. Heating equipment are also used in laboratories for experiments and other industrial purposes. The main types of heating equipment are heat pumps, furnaces, boilers, unitary heaters, and others. A heat pump is a device that uses electric or mechanical methods to move heat from one location to another. Heat pumps are used to make the warm space warmer and the cool space cooler by transferring heat from one to the other. The different technologies include water source, and ground source that are used in residential, commercial, and industrial applications. The global heating equipment market 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 The global heating equipment market size grew from $36.35 billion in 2022 to $40.16 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The market size of the heating equipment market is expected to grow to $51.08 billion in 2027 at a CAGR of 6.2%. The growing demand for construction industry is expected to propel the growth of the heating equipment market going forward. The construction sector refers to the organizations that deals with creating, maintaining, and repairing infrastructures. The growing construction industry uses heating equipment such as heat pumps to provide heating and cooling in large as well as medium-sized buildings. For instance, in June 2021, according to a report published by Canada’s national statistical agency, the investment in building construction increased from $14,294 million in April 2019 to $19,273 million in April 2021. Furthermore, in the 2022 US Construction Cost Trends report, the US total construction spending has increased by 16% since the pandemic’s onset. Therefore, growth in the global construction industry is driving the growth of the heating equipment market. Major players 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, and Nexans. Technological advancements are a key trend gaining popularity in the heating equipment market. Major companies operating in the market are using new technologies, such as injection technology, to sustain their position in the market. For instance, in January 2021, M-TEC GmbH, an Austrian manufacturer, launched efficient heat pumps for large-scale operations. The power series heat pumps are more efficient due to their larger evaporators, larger fans, and innovative injection technology. In June 2021, Enerquip, a US-based manufacturer of sanitary and industrial heating and cooling solutions, acquired American Heating Co. Inc. for an undisclosed amount. With this acquisition, Enerquip aims to carry on American Heating Company's legacy of delivering a high-quality product in an ethical manner. American Heating Co. Inc. is a US-based manufacturer of heating equipment. Europe was the largest region in the heating equipment market in 2022. The regions covered in the heating equipment market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the heating equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The heating equipment market consists of sales of heat distribution systems, small space heaters, wood and pellet heater. 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. The heating equipment market research report is one of a series of new reports from The Business Research Company that provides heating equipment market statistics, including heating equipment industry global market size, regional shares, competitors with a heating equipment market share, detailed heating equipment market segments, market trends and opportunities, and any further data you may need to thrive in the heating equipment industry. This heating equipment 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.

Heat pumps refer to an apparatus that move heat from a cool space to a warm space, making the cool space cooler and the warm space warmer. The main product types of heat pumps are air source, air-to-air, air-to-water, water source, and ground source. Ground source heat pumps are highly effective space heating and cooling technologies that is extracting heat from the ground. The rated capacity is up to 10 kW, 10–20 kW, 20–30 kW, and above 30 kW. The various end-users involved are residential, commercial, and industrial. The global heat pumps market is segmented - 1) By Product Type: Air Source, Air-to-Air, Air-to-Water, Water Source, Ground Source 2) By Rated Capacity: Up to 10 kW, 10–20 kW, 20–30 kW, Above 30 kW 3) By End User: Residential, Commercial, Industrial The global heat pumps market size will grow from $115.74 billion in 2022 to $127.71 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global heat pumps is expected to grow to $160.04 billion in 2027 at a CAGR of 5.8%. Government regulations and policies to improve energy efficiency are boosting the demand for renewable energy sources, thereby contributing to the growth of the heat pumps market. Heat pumps offer a low carbon footprint, minimal installation time, and reduce energy consumption in the household and industrial applications. Energy efficiency has tremendous potential to boost economic growth and reduce greenhouse gas emissions. The government of various countries is adopting energy conservation policies. For instance, the UK government formed an Energy Efficiency Office embracing various departments to monitor, coordinate, and develop energy conservation policies. Moreover, in the USA, all industries consuming more than one million GJ/A (100) are required to report their energy conservation and consumption efforts to the Department of Energy for seeking guidance on greater efficiency of energy use. Therefore, growing efforts to reduce energy usage is likely to propel the demand for energy-efficient products including the growth of the heat pumps market. Major players in the heat pumps market are Daikin Industries Ltd., Carrier, NIBE, Mitsubishi Electric Corporation, LG, Johnson Controls, Hitachi, Robert Bosch GmbH, Stiebel Eltron, and Ingersoll Rand. The coronavirus outbreak restricted the growth of the heat pumps market. Governments across the world imposed restrictions on the movement of people, resulting in supply chain disruptions. COVID-19 lockdowns forced many industries to shut down or operate with minimum capacity, hampering the revenues of various industries including the HVAC (heating, ventilation, and air conditioning) industry. For instance, Lennox International Inc., a US-based provider of climate control products for air conditioning, heating, ventilation, and refrigeration, depends heavily on a complex global supply chain. The company has manufacturing facilities in Georgia, Arkansas, Mississippi, and South Carolina, and the company’s network includes local and regional distribution stores and centers. The company is also engaged in selling products through contractors and dealers, therefore COVID-19 lockdown restrictions have impacted Lennox’s ability to deliver its products to the customers, thus restraining the market growth of the heat pumps during the period. Major companies operating in the heat pumps industry are focusing on developing new technology for cost-effective heating, which is likely to gain popularity in the heat pumps market. The heat pump manufacturers are developing new pump technology including contractor-friendly designs, higher efficiencies, and innovative two-stage compressors that run at lower speeds, consume less energy, and are cost-effective. For instance, in July 2020, Daikin Industries, Ltd. announced the launch of Daikin SmartSource, Dedicated Outdoor Air System (DOAS). It is a next-generation heat pump technology that allows efficient and cost-effective cooling and heating in all conditions and achieves 49% higher efficiency than other heat pumps. In March 2020, NIBE Industrier AB (NIBE Group), a Sweden-based provider of energy-efficient solutions for homes, acquired WATERKOTTE GmbH for an undisclosed amount. The acquisition of WATERKOTTE GmbH is expected to help NIBE Industrier AB to strengthen its position in the European heat pump market, especially in Germany. Furthermore, WATERKOTTE GmbH will also provide the company with access to handling large projects and heat pumps with higher capacity. WATERKOTTE GmbH is a German-based company engaged in manufacturing and selling advanced heat pumps and integrated sustainable energy solutions for single-family homes and commercial applications. The Asia-Pacific was the largest region in the heat pumps market in 2022. North America was the second largest region in the global heat pumps market share. The regions covered in the global heat pumps market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the heat pumps market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The heat pumps market consists of sales of closed loop, open loop and direct expansion ground-source heat pump. 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. The heat pumps market research report is one of a series of new reports from The Business Research Company that provides heat pumps market statistics, including heat pumps industry global market size, regional shares, competitors with a heat pumps market share, detailed heat pumps market segments, market trends and opportunities, and any further data you may need to thrive in the heat pumps industry. This heat pumps market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The geothermal heat pump refers to a system with high-efficiency renewable energy technology that uses the earth's constant temperature to heat and cool buildings. Geothermal heat pumps are packaged in a single cabinet, which includes a compressor, loop-to-refrigerant heat exchanger, and controls. The main type of geothermal heat pumps includes open-loop geothermal heat pumps and closed-loop geothermal heat pumps. The open-loop geothermal heat pumps refer to a heat pump that uses groundwater, which acts as a refrigerant to transfer thermodynamic energy for heating or cooling. They are widely used in residential, commercial, and industrial applications. The global geothermal heat pump market is segmented - 1) By Technology: Open Loop System, Closed Loop System 2) By Application: Residential, Commercial, Industrial The global geothermal heat pump market size grew from $3.74 billion in 2022 to $4.16 billion in 2023 at a compound annual growth rate (CAGR) of 11.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The the market size of the geothermal heat pump market is expected to grow to $5.74 billion in 2027 at a CAGR of 8.4%. The increasing government initiatives to curb carbon emissions are driving the growth of the geothermal heat pumps market. Governments across the world are launching various initiatives to cut carbon emissions and some countries have made futuristic plans to target net-zero carbon emissions through the utilization of natural resources such as geothermal energy, nuclear energy, and others. Increasing government’s shift toward natural resources is expected to boost demand for geothermal heat pumps as they are increasingly being used for heating and cooling over carbon emissions-producing products such as electricity-powered air conditioning units, thermal-powered power plants and others. For instance, according to International Energy Agency, a France-based autonomous intergovernmental organization, there is a road map for the net-zero carbon emissions by 2050 that requires all governments to significantly strengthen and then successfully implement their energy and climate policies. The number of countries that pledged to achieve net-zero emissions has grown rapidly over the last year and now (as of 2021) covers around 70% of global CO2 emissions. In addition, New Zealand Japan, Canada, and Korea have passed laws committing to achieving net-zero by 2050 whereas Fiji, Ireland, and Chile have proposed legislation. The UK has a legally attached net-zero target by 2050 and new interim targets to reduce emissions by 78% by 2035. Therefore, increasing government initiatives to curb carbon emissions is expected to boost demand for geothermal heat pumps during the forecast period. Major players in the geothermal heat pump market are BDR Thermea, Bosch Thermotechnology, Carrier, Stiebel Eltron, Trane, Vaillant Group, Viessmann, NIBE Energy Systems, Climate Master Inc., Daikin, Dandelion Energy, Glen Dimplex, and Maritime Geothermal. Technological advancement is a key trend gaining popularity in the geothermal heat pump market. The key players operating in the geothermal heat pump market are focusing on developing new technologies with minimal complexities with enhanced operational and performance capabilities. For instance, in October 2021, Bosch Thermotechnik GmbH, a Germany-based manufacturer of energy-efficient heating products and hot water solutions, launched ultra-quiet heat pumps, the QV Series for commercial areas in multiple sizes and horizontal and vertical configurations. The product is based on Bosch-patented compressor encapsulation and offers comprehensive and sound performance combined with delivering a compact cabinet to fit into small spaces in commercial establishments. In January 2022, Energy Machines, a Danish company offering integrated energy systems for buildings acquired Enopsol for an undisclosed amount. With this acquisition, Energy Machines is focused on exapanding its portfolio of energy systems technologies and increases its business presence across the globe. Enopsol is a Danish company engaged in the design and installation of groundwater cooling and heating systems. Asia-Pacific was the largest region in the geothermal heat pump market in 2022, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the geothermal heat pump market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the geothermal heat pump market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The geothermal heat pump market consists of sales of horizontal loop systems, vertical loop systems, well-water loop systems, pond/lake geothermal heat pump systems direct exchange, hybrid systems. 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. The geothermal heat pump market research report is one of a series of new reports from The Business Research Company that provides geothermal heat pump market statistics, including geothermal heat pump industry global market size, regional shares, competitors with a geothermal heat pump market share, detailed geothermal heat pump market segments, market trends and opportunities, and any further data you may need to thrive in the geothermal heat pump industry. This geothermal heat pump market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The ventilation, heating, air-conditioning, and commercial refrigeration equipment refers to equipment used for ventilating, heating, and cooling of commercial buildings. This equipment includes both a central heating unit and a central cooling system. This equipment is used to operate complex environmental systems efficiently. The main types of ventilation, heating, air-conditioning, and commercial refrigeration equipment are HVAC and commercial and industrial refrigeration equipment, commercial fan, and air purification equipment, and heating equipment (except warm air furnaces). The commercial fan and air purification equipment refer to the equipment that is used for the purification of air. The various cAsia-Pacificity includes small, medium, and large. The various end-users are residential, commercial, and industrial. The global ventilation, heating, air-conditioning, and commercial refrigeration equipment market is segmented - 1) By Type: HVAC And Commercial And Industrial Refrigeration Equipment, Commercial Fan And Air Purification Equipment, Heating Equipment (except Warm Air Furnaces) 2) By Capacity: Small, Medium, Large 3) By End-Use: Residential, Commercial, Industrial Subsegments Covered: HVAC Equipment, Commercial And Industrial Refrigeration Equipment, Polystyrene Foam Products, Urethane And Other Foam Product, Air Purification Equipment, Attic And Exhaust fans, Other Commercial Fan And Air Purification Equipment, Heating Boilers, Heating Stoves, Floor And Wall Furnaces, Other Heating Equipment (except Warm Air Furnaces) The global ventilation, heating, air-conditioning, and commercial refrigeration equipment market size grew from $557.38 billion in 2022 to $591.99 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global ventilation, heating, air-conditioning, and commercial refrigeration equipment market is expected to grow to $729.35 billion in 2027 at a CAGR of 5.4%. The ventilation, heating, air-conditioning, and commercial refrigeration equipment manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period. Major companies in the ventilation, heating, air-conditioning, and commercial refrigeration equipment market include Johnson Controls International plc, Gree Electric Appliances Inc., Midea Group co Ltd., Hitachi Ltd., Ingersoll-Rand Plc, Honeywell International Inc., Carrier Corporation, Danfoss GmbH, Atlas Copco AB, and Panasonic Corporation. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the ventilation, heating, air-conditioning, and commercial refrigeration equipment manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and manufacturing activity declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Machinery manufacturers depend heavily on the supply of raw materials, parts, and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of raw materials and components. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the ventilation, heating, air-conditioning, and commercial refrigeration equipment manufacturing market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. Geothermal heating and cooling technology are becoming popular because of the surge in demand for energy-efficient HVAC systems. Geothermal HVAC absorbs heat from the facility and transfers it underground and it uses cool water from the ground to create cool air conditioning in the facility. It consists of an indoor handling unit and a system of pipes underground which requires very low maintenance and lasts longer than traditional HVAC systems. Geothermal heating and cooling systems are now installed in about 50,000 US houses each year, according to the US Department of Energy. The Asia-Pacific was the largest region in The ventilation, heating, air-conditioning, and commercial refrigeration equipment market share in 2022. North America was the second-largest region in the ventilation, heating, air-conditioning, and commercial refrigeration equipment market. The regions covered in the ventilation, heating, air-conditioning, and commercial refrigeration equipment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the ventilation, heating, air-conditioning, and commercial refrigeration equipment market include Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The ventilation, heating, air-conditioning, and commercial refrigeration equipment market consists of sales of ventilation, heating, air-conditioning, and commercial refrigeration equipment, including heating equipment (except warm air furnaces), air-conditioning, and warm air heating equipment. 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. The ventilation, heating, air-conditioning, and commercial refrigeration equipment market research report is one of a series of new reports from The Business Research Company that provides ventilation, heating, air-conditioning, and commercial refrigeration equipment market statistics, including ventilation, heating, air-conditioning, and commercial refrigeration equipment industry global market size, regional shares, competitors with ventilation, heating, air-conditioning, and commercial refrigeration equipment market share, detailed ventilation, heating, air-conditioning, and commercial refrigeration equipment market segments, market trends and opportunities, and any further data you may need to thrive in the ventilation, heating, air-conditioning, and commercial refrigeration equipment industry. This ventilation, heating, air-conditioning, and commercial refrigeration equipment 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.

Boilers, tanks, and shipping containers refer to a type of container made of metal by using a method of manufacturing that includes cutting, forming, and joining metal parts to produce tanks that are used for storage and transportation of goods from one place to another, the processing of liquid material, and the storage of hazardous liquids. The main types of boilers, tanks and shipping containers are power boiler and heat exchanger, metal tank (heavy gauge), metal can, box, and other metal container (light gauge). The power boiler and heat exchanger are used by the powerplants to boil the water into steam. The different product types include refrigerated containers, dry storage containers, special-purpose containers, flat rack containers, and other product types. They are available in different sizes such as small containers, large containers, and high cube containers and are used in residential, commercial, and other applications. The global boiler, tank, and shipping container market is segmented - 1) By Type: Power Boiler and Heat Exchanger, Metal Tank (Heavy Gauge), Metal Can, Box, and Other Metal Container (Light Gauge) 2) By Product Type: Refrigirated Container, Dry Storage Container, Special Purpose Container, Flat Rack Container, Other Product Types 3) By Container Size: Small Containers, Large Containers, High Cube Container 4) By Application: Residential, Commercial, Other Applications The global boiler, tank, and shipping container market size grew from $220.3 billion in 2022 to $238.02 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global boiler, tank, and shipping container is expected to grow to $313.93 billion in 2027 at a CAGR of 7.2%. Rapid advances in wireless technology and miniaturization (which refers to designing smaller components for equipment) is expected to drive innovation in boiler, tank, and shipping container manufacturing thus driving the market during the forecast period. Furthermore, technologies such as 3D printing, artificial intelligence, and big data analytics are being used during the manufacturing process, resulting in higher productivity, lower operating costs, and higher margins. For instance, according to the Compass, the internet traffic is projected to three times from earlier in 2022 and the share of IoT devices is expected to rise 28% by 2025., thus driving the growth of the boiler, tank, and shipping container manufacturing market in the forecast period. Major companies in the boiler, tank and shipping container market include Ball Corporation, China International Marine Containers (Group) Ltd., General Electric Company, Alfa Laval AB, Ardagh Group S.A, Doosan Heavy Industries & Construction Co. Ltd., Pacific International Lines (Private) Limited, BWX Technologies Inc., CIMC Enric Holdings Limited, and A.P. Møller-Mærsk A/S. Many metal and mineral manufacturing companies are using robotics and automation to improve plant efficiency and productivity. Sensors are being used in various machines to access invaluable data for improving efficiencies and reducing potential breakdowns. For instance, according to a report by Boston Consulting Group (BCG), 1.2 million industrial robots are expected to be deployed by 2025, thus indicating a rise in automation and robotics technology adoption to improve productivity and reduce production costs. According to the KPMG report, 16% of executives of global metals companies have already invested in robotics for metal manufacturing, 31% of executives have set plans to possibly invest in robotics for new technology and opportunities, and 42% are willing to invest in robotics shortly. Additionally, the report states, 63% of the executives of metal manufacturing companies are considering investing in automation. Asia-Pacific was the largest region in the boiler, tank, and shipping container market share in 2022. Western Europe was the second largest region in the boiler, tank, and shipping container market. The regions covered in the global boiler, tank, and global shipping container market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the boiler, tank, and shipping container market include Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, Vietnam. The boilers, tanks and shipping containers market consists of sales of dry storage container, open top tanks, and half height containers. 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. The boiler, tank, and shipping container market research report is one of a series of new reports from The Business Research Company that provides boiler, tank, and shipping container market statistics, including boiler, tank, and shipping container industry global market size, regional shares, competitors with a boiler, tank, and shipping container market share, detailed boiler, tank, and shipping container market segments, market trends and opportunities, and any further data you may need to thrive in the boiler, tank, and shipping container industry. This boiler, tank, and shipping container 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.