Press release
Air Heating Appliance Market worth USD 16,894.6 million by 2027
The global air heating appliance market size is expected to grow from USD 11,929.4million in 2020 to USD 16,894.6 million by 2027, at a CAGR of 5.1% during the forecast period. An increase in the need for high-energy-efficient heating appliances in residential and commercial buildings is projected to boost the growth of the heating appliance market. In addition, government initiatives for improving energy efficiency across industrial areas with technological innovation are expected to contribute to the development of the air heating appliance market. Major players such as Daikin Industries, Lennox International, and others are offering energy-efficient heat pumps. For instance, Lennox International offered XP25 heat pumps for commercial purposes. It is a highly energy-efficient heat pump.
Browse 211 market data Tables and 63 Figures spread through 234 Pages and in-depth TOC on "Air Heating Appliance Market Research Report 2021-2027."
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Global Air Heating Appliance Market Segmentation
The overall air heating appliance market has been
segmented into type, fuel, end-users, and regions.
• By Type (Space Heating Appliance and Water Heating Appliance)
• By Fuel Type (Gas-powered Heating Appliance, Oil-powered Heating Appliance, Electricity Powered Heating Appliance, and Solar Energy Powered Heating Appliance)
• By End-Users (Industrial, Residential, and Commercial)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
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The gas-powered heating appliances segment is estimated to hold the largest market share during the forecast period by fuel type
Based on fuel type, the global air heating appliance market is fragmented into the gas-powered heating appliance, oil-powered heating appliances, electricity-powered heating appliance, and solar energy-powered heating appliance market. The gas-powered heating appliance segment was the highest contributor to the market, with a market share of 50.3%, growing at a CAGR of 4.9% during the forecast period. A gas-powered heating appliance is any device that operates on the use of natural gases, propane, and others. These devices are commonly used for space heating, cooking, water heating, and others.
An increase in the use of space heating appliances such as heat pumps or furnaces, specifically in Europe and North America, is estimated to drive the growth of the air heating appliance market. Gas-powered heating appliances are generally used in commercial and residential areas. In addition, the increase in commercial construction buildings, such as hotels, hospitals, airports, and others, is projected to fuel the market's growth.
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The Asia Pacific accounts for the largest market share in the air heating appliance market in 2020
The Asia-Pacific air heating appliance market has been studied across China, India, Japan, South Korea, and the rest of Asia-Pacific. Asia-Pacific accounted for a 49.4% share of the air heating appliance market in 2020. China will have the largest share in the region of the Asia-Pacific air heating appliance market in 2020. The Asia-Pacific air heating appliance market is anticipated to witness a high growth rate due to emerging economies. In Asian countries, air heating appliances are used in several end-use industries such as automotive, metals & mining, electronics, etc. The growth in the electronics and aviation industries is expected to lead toward the development of the market.
With the increase in industrialization, Asia-Pacific is projected to gain considerable monetary value in the air heating appliance market during the study period. Several notable steel-making plants are anticipated to begin projects in India and other regions, estimated to gain value share in the air heating appliance market. For instance, in February 2018, China-based Tsingshan Holding Group initiated work on building a cold-rolling line, which on completion, is anticipated to be one of the major stainless-steel projects in India. The new stainless-steel plant in Gujarat is expected to market products throughout the country and the rest of the Asia region to meet the ever-growing demand for stainless steel and stainless steel products. Thus, all these factors are predicted to contribute toward the growth of the market positively.
This research report includes a study on the development and marketing strategies, product portfolios, and winning design of the leading air heating appliance market companies. It also consists of leading companies such as Danfoss A/S, Daikin Industries, Ltd, Emerson Electric Co., General Electric Company, Johnson Controls International Plc, Alfa Laval Corporate AB, Lennox International Inc, Ingersoll-Rand Plc, Vaillant Group, and Robert Bosch GmbH.
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