New York, June 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Heating Equipment (Except Warm Air Furnaces) Global Market Report 2023" - https://www.reportlinker.com/p06463992/?utm_source=GNW
A, Bard HVAC, Fulton Thermal Corp., John Zink Company LLC, Toyotomi Co.Ltd., ECR International Inc., Daikin Industries Ltd., Ingersoll-Rand PLC, Lennox International, Inc., and Robert Bosch GmbH.
The global heating equipment(except warm air furnaces) market is expected to grow from $43.57 billion in 2022 to $47.10 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%.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 heating equipment(except warm air furnaces) market is expected to reach $57.99 billion in 2027 at a CAGR of 5.3%.
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.
Heating equipment (except for warm air furnaces) is a device that heats either the air or a liquid to provide warmth, using an energy source. This equipment is used to perform industrial and commercial operations such as purification of solvents by distillation, extraction using rotary evaporators, and determination of physical parameters such as boiling point, melting point, flashpoint, and others.
North America was the largest region in the heating equipment (except warm air furnaces) market in 2022. The regions covered in heating equipment (except for warm air furnaces) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of heating equipment (except warm air furnaces) are fireplaces, wood-burning stoves, supplemental heaters, low-pressure steam, hot water boilers, and furnaces.The fireplace is an open area built into the structure of a home where a fire can be safely contained to generate heat and provide a relaxing atmosphere, while waste gases and smoke are allowed to leave via a chimney.
The various business types include new construction and retrofits. These are used in various applications such as household, commercial, and industrial.
The increasing number of residential construction projects is expected to propel the growth of the heating equipment (except warm air furnaces) market going forward.Residential projects refer to the construction of houses, apartments, and high-rise buildings.
Heating equipment is used to control the temperature and humidity in a residential project and the goal is to provide thermal comfort and acceptable indoor air quality, as a result, an increase in the number of residential and commercial construction projects increases the demand for heating equipment (except warm air furnaces) market. For instance, in January 2023, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, 1.4 million residential houses are constructed, a 12.8% above compared to January 2022. Therefore, the increasing number of residential construction projects drives the heating equipment (except warm air furnaces) market.
Product innovations are a key trend gaining popularity in the heating equipment(except warm air furnaces)market.Major companies operating in heating equipment(except warm air furnaces) are introducing innovative products to sustain their position in the market.
For instance, in November 2022, Rondo Energy, a US-based company operating in heat equipment, launched two models that include a revolutionary Rondo Heat Battery (RHB), the RHB100 and RHB300.The RHB delivers zero-carbon heat for steel, cement, chemical manufacturing, and to low-temperature food processes as it stores heat energy at temperatures up to 1500°C for hours or days.
Rondo heat battery includes low-cost technology that delivers fast charging, high-temperature up to 1500°C, possesses long service life, and enables site efficiency.
In June 2022, Enerquip, LLC, a US-based designer, and fabricator of stainless-steel heat exchangers and sanitary vessels, acquired American Heating Company, Inc. (AHC) for an undisclosed amount. Through this acquisition, Enerquip, LLC brings the benefit of combining the efforts and efficiencies of two businesses, including the entrance of Enerquip into the industrial carbon steel market. American Heating Company Inc., is a US-based designer and manufacturer of industrial heating equipment.
The countries covered in the heating equipment (except for warm air furnaces) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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(except warm air furnaces)market research report is one of a series of new reports 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.
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