Press release
Increasing Construction Activities Drive Growth In The Water-Based Heating And Cooling Systems Market: A Significant Driver Propelling The Water-Based Heating And Cooling Systems Market In 2025
Water-Based Heating And Cooling Systems
What Is the Water-Based Heating And Cooling Systems Market Size and Projected Growth Rate?
The water-based heating and cooling systems market will grow from $34.89 billion in 2024 to $37.78 billion in 2025 at a CAGR of 8.3%. This growth is driven by changing climate conditions, growth in industrial sectors, an increase in retrofit and renovation projects, the need to mitigate the urban heat island effect, and a higher demand for HVAC systems in commercial buildings.
The water-based heating and cooling systems market is projected to reach $51.28 billion by 2029 at a CAGR of 7.9%. The growth is fueled by awareness of energy efficiency, rising demand for sustainable building solutions, urbanization, and government incentives. Key trends include renewable energy integration, smart technologies, and innovations in HVAC systems.
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What Are the Major Segments in the Water-Based Heating And Cooling Systems Market?
The water-based heating and cooling systems market covered in this report is segmented -
1) By Component: Heat Pump, Convector Heater, Radiator, Boiler, Chiller, Air Handling Unit (AHU), Cooling Tower, Expansion Tank
2) By Cooling Type: Direct Cooling, Indirect Cooling
3) By Implementation Type: New Construction, Retrofit
4) By End-User: Residential, Commercial, Industrial
Subsegement:
1) By Heat Pump: Ground Source Heat Pump, Air Source Heat Pump, Water Source Heat Pump
2) By Convector Heater: Hydronic Convector Heater, Electric Convector Heater
3) By Radiator: Panel Radiator, Column Radiator, Towel Radiator
4) By Boiler: Gas-Fired Boiler, Electric Boiler, Biomass Boiler, Oil-Fired Boiler
5) By Chiller: Air-Cooled Chiller, Water-Cooled Chiller
6) By Air Handling Unit (AHU): Packaged AHU, Modular AHU
7) By Cooling Tower: Open-Circuit Cooling Tower, Closed-Circuit Cooling Tower
8) By Expansion Tank: Diaphragm Expansion Tank, Bladder Expansion Tank
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What Are The Driving Water-Based Heating And Cooling Systems Market Evolution?
The rise in construction activities is expected to contribute to the growth of the water-based heating and cooling systems market. The construction industry is expanding due to urbanization, population growth, and government investment in infrastructure. Water-based heating and cooling systems are essential for energy efficiency and providing consistent indoor temperatures in both residential and commercial buildings. For example, the United States Census Bureau reported a rise in construction operations from $2.01 trillion in May 2023 to $2.14 trillion in May 2024. Therefore, the growing construction activities are propelling the water-based heating and cooling systems market.
Which Firms Dominate The Water-Based Heating And Cooling Systems Market Segments?
Major companies operating in the water-based heating and cooling systems market are Samsung Electronics, LG Electronics, Panasonic Corporation, Midea Group, Mitsubishi Electric Corporation, Haier Smart Home Co. Ltd., Gree Electric Appliances Inc., Daikin Industries Ltd., Johnson Controls International Plc, Carrier Corporation, Trane Technologies Plc, Danfoss Group, Kingspan Group, Lennox International Inc., A.O. Smith Corporation, Viessmann Group, Rheem Manufacturing Company, IMI Plc, Fujitsu General Global, Uponor Corporation, Weishaupt AG, Ferroli S.p.A., BDR Thermea Group, Vaillant Group, Bosch Thermotechnology
What Trends Are Driving Growth in The Water-Based Heating And Cooling Systems Market?
Companies in the water-based heating and cooling systems market are focusing on products like Combined Heat and Power (CHP) Solutions to improve energy efficiency and reduce emissions. Bloom Energy, a US-based green energy company, launched the Bloom Energy Server in August 2023, an advanced CHP solution that produces clean electricity and high-temperature steam, helping industrial and commercial customers reduce energy costs and carbon emissions.
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Which Is The Largest Region In The Water-Based Heating And Cooling Systems Market?
North America was the largest region in the water-based heating and cooling systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the water-based heating and cooling systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Water-Based Heating And Cooling Systems Market?
2. What is the CAGR expected in the Water-Based Heating And Cooling Systems Market?
3. What Are the Key Innovations Transforming the Water-Based Heating And Cooling Systems Industry?
4. Which Region Is Leading the Water-Based Heating And Cooling Systems Market?
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