Press release
Air Heating Appliance Market Growing Dynamics with Current Outlook to Reach $16.8 billion by 2027
In 2019, the Asia-Pacific region led the global air heating appliance market, contributing approximately 49.4% of the total revenue, followed by Europe and North America. Additionally, the rise in COVID-19 cases in the UK prompted vehicle manufacturers to explore the use of ultraviolet (UV) light for pathogen elimination in heating appliances. For example, in April 2020, Jaguar Land Rover Automatic Plc, a subsidiary of Jaguar Land Rover Limited in the UK, began innovating with UV-C light as a component of heating systems.The global air heating appliance market size was valued at $12.5 billion in 2019, and is projected to reach $16.8 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027.
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The growing urbanization and industrialization in emerging economies like India, China, the U.S., and others are driving the demand for air heating appliances. Moreover, strict environmental regulations have compelled various commercial organizations and industries to install heating equipment in their facilities.
The increasing demand for remote access control systems, which are user-friendly, has spurred greater market investment by commercial, industrial, and residential sectors. This investment growth has led to the development of advanced heating equipment featuring multiple sensors and remote operation capabilities. Additionally, improvements in residential, commercial, and industrial infrastructure have further boosted the demand for heating equipment in the market.
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Top Players:
The key players profiled in the air heating appliance market 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.
The major players in the global air heating appliance companies have adopted partnership, acquisition, product launch, and product development as key developmental strategies to improve the footprint of air heating appliance market. For instance, in January 2018, Lennox International Inc launched a new SL280NV Gas Furnace. It is a highly efficient HVAC system. It is used to create better air inside or outside their homes. It is an eco-efficient furnace, with low NOx emission. It possesses features such as ultra-smart control, environment friendly, comfort, and lower emission.
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Key Findings Of The Study
The report provides an extensive analysis of the current and emerging air heating appliance market trends and dynamics.
Depending on type, the space heating appliance segment dominated the air heating appliance market, in terms of revenue in 2019 and is projected to grow at a significant CAGR during the forecast period.
By end user, the residential segment registered highest revenue in 2019.
Asia-Pacific is projected to register the highest growth rate in the coming years.
The key players within the 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.
The report provides an extensive analysis of the current trends and emerging opportunities of the market.
In-depth air heating appliance market analysis is conducted by constructing estimations for the key segments between 2020 and 2027.
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