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Top Factor Driving Heating Equipment (Except Warm Air Furnaces) Market Growth in 2025: Residential Construction Boom Is A Catalyst For Surging Demand In The Heating Equipment Market
Heating Equipment (Except Warm Air Furnaces) Market
The growth of the heating equipment market (excluding warm air furnaces) is anticipated to escalate, thanks to the surge in residential construction projects. Such projects comprise the building of houses, apartments and tall buildings. Utilized to regulate temperature and humidity within a residential development, the purpose of heating equipment is to ensure a thermally comfortable environment and maintain a good standard of indoor air quality. Consequently, an uptick in residential and commercial construction projects heightens the demand for the heating equipment (excluding warm air furnaces) market. Take, for example, January 2023 data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, which reveals 1.4 million residential dwellings were built, a rise of 12.8% compared to January 2022. Therefore, the burgeoning number of residential construction ventures propels the heating equipment (excluding warm air furnaces) market.
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What growth opportunities are expected to drive the heating equipment (except warm air furnaces) market's CAGR through 2034?
In the past few years, the market size of heating equipment (except warm air furnaces) has seen robust growth. It is projected to increase from $52.19 billion in 2024 to $56 billion in 2025, with a compound annual growth rate (CAGR) of 7.3%. This growth over the historic period is due to several factors, including energy efficiency regulations, population growth and urbanization, industrialization and commercial construction, government incentives and subsidies, as well as consumer preferences for comfort.
Anticipated robust expansion is forecasted for the heating equipment (excluding warm air furnaces) market in the coming years. The market is predicted to escalate to $71.38 billion by 2029 with a compound annual growth rate (CAGR) of 6.3%. Factors contributing to this projected growth during the forecast period include the incorporation of renewable energy, smart home integration, observance of environmental sustainability norms, increased retrofitting demand, concerns relating to global climate change, and market proliferation in emerging regions. The forthcoming period is also expected to witness a variety of trends such as enhanced efficiency through technological integration, progression in technology, hydronic heating systems, the adoption of decentralized heating solutions, usage of advanced materials and design, and the transition toward electric heating.
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What are the emerging trends shaping the future of the heating equipment (except warm air furnaces) market?
Innovations in products are emerging as a crucial trend in the heating equipment (except warm air furnaces) industry. A key strategy utilised by prominent firms in the heating equipment (except warm air furnaces) sphere is the introduction of novel products to maintain market standing. To illustrate, Rondo Energy, an American heat equipment company, unveiled two innovative models in November 2022. These include a game-changing Rondo Heat Battery (RHB), namely models RHB100 and RHB300. These RHB units provide zero-carbon heat for various processes such as steel and cement production, chemical manufacturing, and low-temperature food processing, since they can store heat energy at up to 1500°C for extended periods. The Rondo heat battery integrates an affordable technology that allows for speedy charging, high temperatures of up to 1500°C, durable lifespan, and promotes onsite efficiency.
Which growth-oriented segments of the heating equipment (except warm air furnaces) market are leading the industry's development?
The heating equipment (except warm air furnaces) market covered in this report is segmented -
1) By Type: Fireplaces, Wood-Burning Stoves, Supplemental Heaters, Low-Pressure Steam, Hot Water Boilers, Furnaces
2) By Business Type: New Construction, Retrofits
3) By Applications: Household, Commercial, Industrial
Subsegments:
1) By Fireplaces: Traditional Fireplaces, Electric Fireplaces, Gas Fireplaces, Pellet Fireplaces
2) By Wood-Burning Stoves: Traditional Wood Stoves, Modern Wood Stoves, Cook Stoves
3) By Supplemental Heaters: Electric Space Heaters, Infrared Heaters, Ceramic Heaters
4) By Low-Pressure Steam: Steam Boilers, Steam Radiators, Steam Traps
5) By Hot Water Boilers: Conventional Hot Water Boilers, Combi Boilers, Condensing Boilers
6) By Furnaces: Gas Furnaces, Oil Furnaces, Electric Furnaces
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What regions are leading the charge in the heating equipment (except warm air furnaces) market?
North America was the largest region in the heating equipment (except warm air furnaces) market in 2024. The regions covered in the heating equipment (except warm air furnaces) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What companies are at the forefront of innovation in the heating equipment (except warm air furnaces) market?
Major companies operating in the heating equipment (except warm air furnaces) market include Heatstar Limited, Red Dot Corporation, Thermal Solutions Products LLC, New Yorker Boiler Company Inc., DTE Biomass Energy Inc., Bard HVAC, Fulton Thermal Corporation, John Zink Company LLC, Toyotomi Co. Ltd., ECR International Inc., Daikin Industries Ltd., Ingersoll-Rand plc, Lennox International Inc., Robert Bosch GmbH, A.O. Smith Corporation, ABB Ltd., Bosch Thermotechnology Corp., Bradford White Corporation, Burnham Holdings Inc., Carrier Corporation, Danfoss A/S, Emerson Electric Co., Ground Heaters Inc., Honeywell International Inc., HTP Comfort Solutions LLC, Johnson Controls International plc, Laars Heating Systems Company, Lochinvar LLC, Mitsubishi Electric Corporation
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What Is Covered In The Heating Equipment (Except Warm Air Furnaces) Global Market Report?
• Market Size Forecast: Examine the heating equipment (except warm air furnaces) market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the heating equipment (except warm air furnaces) market for a structured understanding.
• Key Players Overview: Analyze major players in the heating equipment (except warm air furnaces) market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the heating equipment (except warm air furnaces) market.
• Segment Contributions: Evaluate how different segments drive overall growth in the heating equipment (except warm air furnaces) market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the heating equipment (except warm air furnaces) market.
• Industry Challenges: Identify potential risks and obstacles affecting the heating equipment (except warm air furnaces) market.
• Competitive Landscape: Review strategic developments in the heating equipment (except warm air furnaces) market, including expansions, agreements, and new product launches.
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