Heating Equipment (Except Warm Air Furnaces) Market Expected to Achieve 5.9% CAGR by 2029: Growth Forecast Insights

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How Large Will the Heating Equipment (Except Warm Air Furnaces) Market Size By 2025?
In the recent past, the market size for the heating equipment (excluding warm air furnaces) has seen robust growth. It is set to expand from $52.73 billion in 2024 to $55.79 billion in 2025, maintaining a compound annual growth rate (CAGR) of 5.8%. The remarkable growth in the historical period can be credited to factors like energy efficiency rules, population increase and urbanization, industrial growth and commercial infrastructure development, government benefits and grants, and consumer inclination towards comfort.

How Big Is the Heating Equipment (Except Warm Air Furnaces) Market Size Expected to Grow by 2029?
The market for heating equipment, excluding warm air furnaces, is projected to experience significant growth in the coming years, escalating to a worth of $70.22 billion by 2029, with a CAGR of 5.9%. The predicted growth during the forecast period is influenced by factors such as renewable energy integration, smart home technology, environmental sustainability norms, increased retrofitting demand, concerns over global climate change, and market development in emerging regions. Key emerging trends during this period are expected to be the inclusion of efficiency improving technology, technological advancements, the use of hydronic heating systems, decentralised heating solutions, innovative materials and designs, and heating electrification.

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Which Key Market Drivers Powering Heating Equipment (Except Warm Air Furnaces) Market Expansion and Growth?
The growth of the heating equipment market (excluding warm air furnaces) is projected to be driven by the rise in residential construction projects. These projects include the construction of houses, apartments, and skysers. The purpose of heating equipment is to regulate temperature and maintain suitable humidity levels in such developments to ensure a comfortable thermal environment and good indoor air quality. This results in an increase in demand for such heating equipment as the number of residential and commercial build projects rises. For instance, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported in January 2023 that there was a construction of 1.4 million residential units, signifying a jump of 12.8% compared to January 2022. Consequently, the increasing prevalence of residential construction projects is propelling the growth of the heating equipment market (except warm air furnaces).

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Which Fast-Growing Trends Are Poised to Disrupt the Heating Equipment (Except Warm Air Furnaces) Market?
The surge in product innovations is a growing trend within the heating equipment sector (except warm air furnaces). Major players in the sector are strategically launching innovative goods to maintain their market position. For instance, in November 2022, Rondo Energy, a U.S.-based heat equipment organization, unveiled two pioneering models - the RHB100 and RHB300, which are part of the thrilling Rondo Heat Battery (RHB) series. This novel technology provides zero-carbon heat for industries such as steel, cement, chemical manufacturing, and low-temperature food processes, as it has the capacity to store energy at temperatures reaching 1500°C for extended durations. The value-added aspects of the Rondo heat battery include affordable technology, rapid charging, extreme temperature up to 1500°C, a long lifespan, and enhanced site efficiency.

What Are the Emerging Segments in the Heating Equipment (Except Warm Air Furnaces) Market?
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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Who Are the Global Leaders 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

Which are the Top Profitable Regional Markets for the Heating Equipment (Except Warm Air Furnaces) Industry?
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

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