The global air heating appliance market size was valued at $12,583.7 million in 2019, and is projected to reach $16,894.6 million by 2027, registering a CAGR of 5.1% from 2020 to 2027. Air heating appliances are installed to sustain an appropriate temperature at the desired level. These appliance converts the fuel into energy, i.e., heat. It includes all piping, components, wiring, and controls required to be part of the device by the applicable standard referred to in the building code. The growing need for energy-efficient heating equipment in the market fuels the demand for air heating appliance. Moreover, the technological development in air heating appliance and its mechanical systems offers desired heating of the environment and also fulfill the need for cost-efficiency.
Factors such as rapid urbanization and industrialization are anticipated to cater to the growth of the air heating appliance market. In addition, rise in need for installation of energy efficient heating appliances drive the market growth. However, competition from domestic manufacturers and fluctuation in foreign currencies’ influence over profit margins hamper the market growth. Furthermore, government initiatives to support air heating appliance products offer lucrative opportunities for the growth of the air heating appliance market.
The global air heating appliance market is segmented on the basis of type, fuel type, end-user industry, and region. By type, the market is categorized into a space-heating appliance and water heating appliance. Depending on fuel type, it is fragmented into gas-powered heating appliance, oil-powered heating appliance, electricity-powered heating appliance, and solar energy powered heating appliance. Based on end user, the market is categorized into residential, commercial, and industrial. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific dominated the market in 2019, accounting for the highest share, and LAMEA is anticipated to maintain this trend throughout the forecast period. This is attributed to increase in population, urbanization, and industrial growth.
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The key companies profiled in the report include Alfa Laval Corporate AB, Daikin Industries, Ltd, Danfoss A/S, Emerson Electric Co., General Electric Company, Ingersoll-Rand Plc, Johnson Controls International Plc, Lennox International Inc, Robert Bosch Gmbh, and Vaillant Group.
Key players dealing in air heating appliance market have adopted product launch, product development, and acquisition to sustain the intense competition. For instance, in June 2017, Daikin Industries acquired Airmaster Corporation Pty Ltd, based in Australia, deals in air conditioning, and heating systems. The acquisition is done for $76 million. The acquisition aimed to improve the product portfolio of heating systems.
KEY BENEFITS FOR STAKEHOLDERS
The report provides an extensive analysis of the current and emerging air heating appliance market trends and dynamics.
In-depth market analysis is conducted by constructing market estimations for the key market segments between 2019 and 2027.
Extensive analysis of the air heating appliance market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global air heating appliance market forecast analysis from 2020 to 2027 is included in the report.
The key market players within air heating appliance market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the air heating appliance industry.
GLOBAL AIR HEATING APPLIANCE MARKET SEGMENTS
– Space Heating Appliance
– Water Heating Appliance
BY FUEL TYPE
– Gas Powered Heating Appliance
– Oil Powered Heating Appliance
– Electricity Powered Heating Appliance
– Solar Energy Powered Heating Appliance
– North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
o Latin America
o Middle East
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– Alfa Laval Corporate AB
– Daikin Industries, Ltd
– Danfoss A/S
– Emerson Electric Co.
– General Electric Company
– Ingersoll-Rand Plc
– Johnson Controls International Plc
– Lennox International Inc
– Robert Bosch Gmbh
– Vaillant Group