The need for energy efficient heating
equipment has led to the development of mechanical systems which could
provide the required heating environment in a cost effective manner.
With rapid growth in technology the heating equipment are providing
efficient solutions to reduce carbon emissions in an economical manner.
These systems can be classified as either self-contained unit packages
or as central systems. The self-contained packages are usually used in
residential and small commercial spaces. The central heating systems are
used in large commercial building where access to outside air is
restricted. The market for heating equipments is directly influenced by
many building standards. The ISO is one such environmental standard
which has established principles related to building designs. The market
for heating equipment is anticipated to rise at a substantial pace in
the future due to increasing demand for effective heating solutions and
demand from the replacement market.
The need for energy efficient
solutions is the primary driver encouraging investment in the heating
equipment market. The increasing energy bills and strict environmental
regulations have forced many industrial and commercial organizations to
install effective heating equipment in their premises. The increasing
need for remote access control systems has also attracted investment in
this market. Investment in heating equipments has further escalated with
the development of advanced heating equipment which has sensors that
can be controlled from remote location. Lack of product differentiation
is increasing competition among the various market players and this acts
a major restraint for companies to enter the heating equipment market.
However, the development of new product segments in this market would
provide growth opportunities in the future years.
The market for heating equipment can
be segmented on the basis of components utilized in this market. The
broad segments of this market are heat pumps, boilers, warm air
furnaces, zone heating equipment and humidifiers. The market can also be
segmented based upon end user applications which include residential,
commercial and industrial spaces. Residential and small commercial
spaces usually install small units known as self contained packages to
fulfill their energy needs. Large commercial complexes employ central
control heating equipments to satisfy their energy requirements. The
central systems are complex structures, but are more effective and low
maintenance systems compared to self contained packages.
Asia Pacific is the leading region to
invest in the heating equipment market. The growing industrial and
commercial requirements in this region are the major consumer of heating
equipment in this region. The recovery of the construction industry is
another favorable factor encouraging investment in the heating
equipments market. China, India and Japan are the major industrial
nations which are investing in heating equipment. The economic recovery
of Europe will further provide growth opportunities for this market. The
replacement of old analog systems with energy efficient systems is a
major segment which is attracting many market players to invest in this
region. Growth in North America is anticipated to be stagnant as this is
a mature market when compared to other regions.
Some of the major players in the
heating equipment market are Honeywell International Inc., LG
Electronics Inc., Siemens Building Technologies AG, Whirlpool
Corporation, Emerson Electric Company, Panasonic Corporation, Electrolux
AB, Haier Group Company, Daikin Industries Ltd. and Hitachi Ltd.
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This research report analyzes this
market on the basis of its market segments, major geographies, and
current market trends. Geographies analyzed under this research report
include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of
current trends in the market, industry growth drivers, and restraints.
It provides market projections for the coming years. It includes
analysis of recent developments in technology, Porter’s five force model
analysis and detailed profiles of top industry players. The report also
includes a review of micro and macro factors essential for the existing
market players and new entrants along with detailed value chain
analysis.
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