Warm Air Heating Equipment Market

Warm Air Heating Equipment Market by Product Type (Heat Pumps and Humidifying Equipment), Fuel Type (Electric Powered, Gas-Powered, Hybrid, and Solar Powered), Application (Air to Air and Air to Water), Implementation (New Construction and Maintenance), End-User Industry (Residential, Commercial, and Industrial), and Business Type (Original Equipment Manufacturer (OEM) and Aftermarket): Global Industry Insights, Trends, and Forecast, 2023-2031.

Manufacturing & Construction | March 2022 | Report ID: EMR0044 | Pages: 175

Global Warm Air Heating Equipment Market’s size was valued at USD 136 billion and is estimated to reach USD 195.26 billion by 2031 and is expected to be growing at a CAGR of 7.5 % throughout the forecast period. Econ Market Research’s report on Warm Air Heating Equipment studies the past and current opportunities of growth and trends to get a clear picture of the growth indicators of the market for the forecast period 2023 to 2031. The report also offers the revenue generated by the Warm Air Heating Equipment market considering 2021 as the historical year, 2022 as the base year, and 2031 as the forecast year. The report also consists of the compound annual growth rate (CAGR) for the Warm Air Heating Equipment market over the forecast period.

The global warm air heating equipment market is experiencing significant growth and will grow considerably in the next few years. Warm air heating equipment is extensively used to keep the interior space of a building comfortable for its occupants. In temperate and cold zones of the earth, the use of warm air heating equipment is a necessity. thus being a key driver in the growth of the warm air heating equipment market throughout the forecast period. The warm air heating equipment is available in a wide range of varieties with respect to size, capacity, and fuel used, which increases its application and makes it suitable in various conditions. The warm air heating equipment is used in industries and warehouses as well, which further positively influences the growth of the market for warm air heating equipment.

COVID-19 Impact analysis

The COVID-19 pandemic has shut down the production of various products in the warm air heating equipment industry, which has been attributed to the lockdown in countries worldwide. This has hampered the growth of the market in the last few months and is likely to continue in 2021. COVID-19 had affected the sales of warm air heating equipment in the second quarter of 2020, as the demand witnessed a steep decline due to restrictions in construction activities. Major players in the real estate industry decreased the construction of residential and commercial buildings in the wake of reduced demand due to COVID-19.

Warm Air Heating Equipment Market REPORT SCOPE & SEGMENTATION

Report Attribute

Details

Projected Market Value (2031)

195.26 billion

Estimated Market Value (2022)

136 billion

Base Year

2022

Forecast Years

2023 - 2031

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Product Type, By Fuel, By Application, By Implementation, By End-User Industry, By Business Type, & Region

Segments Covered

By Product Type, By Fuel, By Application, By Implementation, By End-User Industry, By Business Type, & Region

Forecast Units

Value (USD Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2023 to 2031

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Top Impacting Factors

Heating equipment is a necessity in cold regions, and the exponential increase in demand during the winter season is the major driver of the growth of the warm air heating equipment market. Modern warm air heating equipment has a faster warm-up time and heats the required space quickly; this equipment also eliminates the need for radiators, which increases the usable space in the room, which further increases its desirability for the users. Warm air equipment is renowned for its silent operations, thus not causing any hindrance to the user. Modern warm air heating equipment provides electronic controls such as thermostats and can also filter up to 95% of airborne particles, further increasing its demand. The high initial cost of installation of a warm air heating system and its inability to heat domestic water are the major restraints on the growth of the warm air heating equipment market. The increasing initiative by governments towards the decarbonization of the environment and the advancements in efficiency of warm air heating equipment will ensure steady growth of the warm air heating equipment market throughout the forecast period.

Market Trends

NIBE Group, a Sweden-based company that develops intelligent and energy-efficient indoor comfort solutions for all kinds of building spaces, acquired WATERKOTTE GmbH, a Germany-based manufacturer of advanced heat pump systems. This acquisition is predicted to increase the footprint of NIBE Group in the European heat pump market.

The key players in the industry are committed to developing smart devices with improved connectivity. For instance, in October 2020, Daikin Applied expanded its portfolio of Smart Source, which are compact heat pumps that provide a broader range of applications, making them ideal for new construction and retrofit projects with a limited budget.

Development of more efficient products that contribute to the decarbonization of the environment and are eligible for grants and subsidies provided by various governments is another strategy adopted by the leading players in the industry.

Daikin, a global HVAC manufacturer, has expressed its support for Europe’s Green Deal and believes that constant innovations in heat pump technology will help decarbonize Europe by 2050.

Regional Analysis

The Asia-Pacific was the largest region in the warm air heating equipment market in 2022. North America was the second-largest region in the global market for warm air heating equipment. The regions covered in the global warm air heating equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Competitive Landscape

The report provides a competitive landscape on both the quantitative and qualitative research of the market for warm air heating equipment. The report also provides detailed insights on the development methods used by the key market players. The report offers deep research on the key market players and details on the competitiveness of these players. The main business strategies used by these players, such as mergers and acquisitions (M&A), collaborations, affiliations, and contracts, are also discussed and analysed in the report. For each competitor, the report studies their global presence, service offerings, competitors, and specifications. The main players covered by the study on the global warm air heating equipment market are:

  • Danfoss
  • Daikin Industries, Ltd.
  • Honeywell International Inc.
  • Mitsubishi Electric Corporation
  • Hitachi Appliances, Inc.
  • Johnson Controls Inc.
  • Haier Group
  • Bosch Thermotechnik GmbH
  • NIBE Group
  • AB Electrolux

Key Benefits of the Report

  • This study presents an analytical depiction of the warm air heating equipment industry along with current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to market key drivers, restraints, and opportunities, along with detailed analysis of the warm air heating equipment market share.
  • The current market is quantitatively analysed to highlight the warm air heating equipment market's growth scenario.
  • Porter's five forces research demonstrates the market power of suppliers and buyers.
  • The report provides a detailed warm air heating equipment market analysis based on competitive intensity and how the competition will take shape in the coming years.

Warm Air Heating Equipment Market Report Segmentation

ATTRIBUTE

DETAILS

By Product Type

  • Heat Pumps
  • Humidifying Equipment

By Fuel Type

  • Electric Powered
  • Gas-Powered
  • Hybrid
  • Solar Powered

By Implementation

  • New Construction
  • Maintenance

By Application

  • Air to Air
  • Air to Water

By End User Industry

  • Residential
  • Commercial
  • Industrial

By Business Type

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

By Geography

  • North America (USA and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

 

Customization Scope

  • Available upon request

Pricing

  • Available upon request

The Report Answers Questions Such As:

  • What is the potential opportunity for the Warm Air Heating Equipment market
  • What are the major drivers, restraints, and opportunities of the Warm Air Heating Equipment market
  • What is the market share of the leading segments and sub-segments of the Warm Air Heating Equipment market in the forecast period (20232031)
  • How did the Warm Air Heating Equipment market evolve
  • How is each segment of the Warm Air Heating Equipment market expected to grow during the forecast period
  • What is the expected revenue to be generated by each of the segments by the end of 2031
  • What are the key development strategies implemented by the key players to stand out in this Warm Air Heating Equipment market
  • What is the preferred business model used for building Warm Air Heating Equipment
  • Which area of application is expected to be the highest revenue generator in the Warm Air Heating Equipment market during the forecast period
  • Which end-user segment is expected to be the highest revenue generator in this industry during the forecast period
  • What is the potential of Warm Air Heating Equipment market in the emerging countries during the forecast period

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions