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Steady Expansion Forecast for Warm Air Heating Equipment Market, Projected to Reach $166.48 Billion by 2029
Warm Air Heating Equipment
Warm Air Heating Equipment Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, the market size of warm air heating equipment has seen significant expansion. It's projected to rise from $128.95 billion in 2024 to $135.86 billion in 2025, with a compound annual growth rate (CAGR) of 5.4%. The growth witnessed in the historical period is due to factors such as energy efficiency, environmental regulations, economic conditions, and the replacement cycle.
Warm Air Heating Equipment Market Size Forecast: What's the Projected Valuation by 2029?
Anticipated to witness substantial expansion in the upcoming years, the market size of warm air heating equipment is projected to reach $166.48 billion by 2029, increasing at a compound annual growth rate (CAGR) of 5.2%. Factors contributing to this growth during the predicted period encompass building efficiency standards, energy expenditures, and worldwide economic situations. The key trends that are expected to shape this period include the adoption of smart heating systems, the transition towards electrification and heat pumps, hybrid systems, customizations and zoning, as well as considerations for health and comfort, and industry collaboration.
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What Are the Drivers Transforming the Warm Air Heating Equipment Market?
The warm air heating equipment market is likely to grow as a result of strategies aimed at limiting carbon emissions. Nations around the world are putting efforts into decarbonizing the environment in order to foster sustainability and enhance global living conditions. Warm air heating devices, such as heat pumps, contribute to lowering carbon emissions by harnessing renewable energy sources. Samsung Electronics Co. Ltd, a South Korean appliance firm, unveiled an environmental strategy in September 2022, which includes achieving net-zero carbon emissions by 2050, investing in renewable energy, promoting resource circularity, and fostering the development of technologies to address climate change and support sustainability. In a similar vein, Pfizer Inc, a US-based pharmaceutical firm, announced its goal in June 2022 to meet the voluntary Net-Zero Standard by 2040, pledging to decrease GHG emissions by 95% and value chain emissions by 90% from 2019 figures by that year. Consequently, actions taken by companies to lower their carbon emissions are helping to spur on the growth of the warm air heating equipment market.
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What Long-Term Trends Will Define the Future of the Warm Air Heating Equipment Market?
Businesses are focusing their efforts on creating smart devices that will cater to the needs of the emerging connected smart homes and offices. The global shift towards connected devices in homes and firms has industry leaders embarking on the development of smart devices for optimized interconnectivity and preventative maintenance. For example, in June 2022, Trane Technologies (NYSE), an American company specializing in thermal heating equipment, unveiled the Ascend Air-to-Water Heat Pump Model ACX. Marking the company's first air-to-water pump solution, it offers both electrical heating and cooling. It is a trailblazer in offering an approach to decarbonization via electrification. The product features advanced energy-saving technology and melds smoothly into existing systems, reducing dependence on fossil fuels and promoting ecological sustainability. The heat pump's design enables it to function effectively in a variety of climates, bolstering its adaptability and efficiency. Trane's devotion to sustainable practices is reflected in its latest Precedent rooftop units, which are designed to boost performance while integrating older systems to improve operational efficiency.
Which Segments in the Warm Air Heating Equipment Market Offer the Most Profit Potential?
The warm air heating equipmentmarket covered in this report is segmented -
1) By Product Type: Dehumidifiers, Heat Pumps, Humidifying Equipment
2) By Capacity: Small, Medium, Large
3) By Application: Residential, Commercial, Industrial
Subsegments:
1) By Dehumidifiers: Refrigerant Dehumidifiers, Desiccant Dehumidifiers, Thermoelectric Dehumidifiers
2) By Heat Pumps: Air Source Heat Pumps, Ground Source Heat Pumps, Water Source Heat Pumps
3) By Humidifying Equipment: Steam Humidifiers, Evaporative Humidifiers, Impeller Humidifiers, Ultrasonic Humidifiers
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Which Firms Dominate the Warm Air Heating Equipment Market by Market Share and Revenue in 2025?
Major companies operating in the warm air heating equipment market include Danfoss, Daikin, Mitsubishi Electric Corporation, WOLF GmbH, Johnson Controls Inc., Honeywell International Inc., Haier Group (China), Hitachi Appliances Inc. (Japan), Viessmann Werke GmbH & Co. KG, Bosch Thermotechnology, Carrier, Lucky Goldstar Electronics, NIBE Group, Lennox International Inc., Trane Technologies plc, Rheem Manufacturing Company, Goodman Manufacturing Company L.P., Fujitsu General Limited, Samsung Electronics Co. Ltd., Nortek Global HVAC LLC, Modine Manufacturing Company, Amana Corporation, Bryant Heating & Cooling Systems, American Standard Companies Inc., Armstrong Air Conditioning Inc., Broan-NuTone LLC, Burnham Holdings Inc., ClimateMaster Inc., Dunkirk Boilers, ECR International Inc., Friedrich Air Conditioning Co. Ltd., Heat Controller Inc., Heil Heating & Cooling Products, International Comfort Products LLC
Which Regions Offer the Highest Growth Potential in the Warm Air Heating Equipment Market?
Asia-Pacific was the largest region in the warm air heating equipment market in 2024. North America was the second largest region in the warm air heating equipment market analysis. The regions covered in the warm air heating equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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