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Commercial Heating Equipment Market Trends

Report ID: GMI9737
Published Date: Jun 2024
Report Format: PDF

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Commercial Heating Equipment Market Trends

Rising energy costs and growing environmental concerns are pushing businesses to invest in equipment’s including boilers, heat pumps, water heaters and radiant heating systems that minimizes fuel consumption and lowers emissions. Additionally, smart controls and building automation systems are gaining traction, allowing for optimized heating schedules and remote monitoring, leading to further energy savings. Moreover, the industry is moving toward building the cost effective and sustainable energy solutions, which in turn will offer significant opportunities for business expansion.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of commercial heating equipment was crossed USD 57.5 billion in 2023 and is estimated to grow at 8.5% CAGR during 2024 to 2032, driven by stringent regulatory mandates and regimes concerning energy efficiency & carbon emissions.

The heat pump segment in the commercial heating equipment market will reach over USD 40 billion by 2032, owing to its higher efficiency, environment friendliness, and limited installation costs.

Asia Pacific commercial heating equipment market size is set to surpass USD 30 billion by 2032, driven by ongoing government support and promotions for adoption of energy efficient appliances.

A.O. Smith, Ariston Holding N.V, BDR Thermea Group, Carrier Corporation, Cleaver-Brooks, DAIKIN INDUSTRIES, Ltd, Danfoss, Emerson Electric Co, Fulton Boiler Works, Goodman Manufacturing Company, Honeywell International Inc, and Johnson Controls International among others.