The global warm air heating equipment market is experiencing significant growth and will grow considerably in next few years. Warm air heating equipment are extensively used to keep the interior space of a building comfortable for its occupation. In temperate and cold zones of the earth, the use of warm air heating equipment is a necessity. Thus, being a key driver in the growth of warm air heating equipment market throughout the forecast period. The warm air heating equipment are available in a wide range of variety with respect to size, capacity and fuel used, which increases its application and makes it suitable in various conditions. The warm air heating equipment are used in industries and warehouses as well, which further positively influence the growth of warm air heating equipment market. The major players in the industry are determined to develop more efficient warm air heating equipment by reducing its carbon footprint.
Description
The warm air heating equipment work by passing air through a heat exchanger which is powered by gas or electricity. The air once heated is blown into rooms via vents provided in the floor, walls or ceiling. Efficient warm air heating equipment such as heat pumps reduce carbon footprint of the building by using renewable energies. This system is suitable for small properties as it requires less space compared to radiators or wall mounted heaters. As warm air heating equipment, heat air directly, the warm-up time is relatively shorter and requires less maintenance, these factors assure the steady growth of warm air heating equipment market throughout the forecast period.
COVID-19 Impact analysis
- COVID-19 pandemic has shut-down the production of various products in the warm air heating equipment industry attributed to the lockdown in countries worldwide. This has hampered the growth of the market from the last few months and is likely to continue during 2021.
- COVID-19 had affected the sales of warm air heating equipment in the second quarter of 2020 as the demand witnessed a steep decline due to restrictions in construction activities. Major players in the real estate industry decreased the construction of residential and commercial buildings in the wake of reducing demand due of COVID-19.
- The major demand for warm air heating equipment was previously noticed from countries in temperate and cold zones including the U.S., China, U.K., Germany, Canada, France and Russia which are negatively affected by the spread of the COVID-19, thereby decreasing the demand for warm air heating equipment.
- The decrease in income due to COVID-19, directly affected the spending of masses and the work from home system adopted by various corporates has further decreased the demand for warm air heating equipment.
- COVID-19 pandemic also negatively affected the warm air heating equipment manufacturing units due to the restrictions laid on factory operations. Manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19.
- With the increasing vaccination drives and leniency in social restrictions, the demand for warm air heating equipment in commercial and industrial sector has increased, which is a boost for the industry.
Top Impacting Factors
The heating equipment are a necessity in cold regions, and the exponential increase in the demand during the winter season are the major driver in the growth of warm air heating equipment market. A modern warm air heating equipment have a faster warm up time and heat the required space quickly, these equipment also eliminate the need for radiators which increases the usable space in the room, which further increases its desirability for the users. Warm air equipment are renowned for their silent operations, thus not causing any hinderance to the user. Modern warm air heating equipment provide electronic controls such as thermostats and can also filter up to 95% air borne particles further increase its demand. The high initial cost of installation of a warm air heating system and its inability to heat domestic water are the major restraints in the growth of the warm air heating equipment market. The increasing initiative by governments toward the decarbonization of the environment and the advancements in efficiency of warm air heating equipment will ensure steady growth of the warm air heating equipment market throughout the forecast period.
Market Trends
- NIBE Group, a Sweden-based company, that develops intelligent and energy efficient indoor comfort solutions for all kinds of building spaces, acquired WATERKOTTE GmbH, a Germany based manufacturer of advanced heat pump systems. This acquisition is predicted to increase the footprint of NIBE Group in the European heat pump market.
- The key players in the industry are committed towards developing smart device with improved connectivity. For instance, in October 2020, Daikin Applied, expanded its portfolio of SmartSource, which are compact heat pumps that provide a broader range of application making it ideal for new construction and retrofits projects with a limited budget.
- Development of more efficient products that contribute to the decarbonization of the environment and which are eligible for grants and subsidies provided by various governments is another strategy adopted by the leading players in the industry.
- Daikin, a global HVAC manufacturer has expressed its support for Europe’s Green Deal and believes that constant innovations in heat pump technology will help decarbonize Europe by 2050.
Key Benefits of the Report
- This study presents the analytical depiction of the warm air heating equipment industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the warm air heating equipment market share.
- The current market is quantitatively analyzed to highlight the warm air heating equipment market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed warm air heating equipment market analysis based on competitive intensity and how the competition will take shape in coming years.
Key Market Segments
- By Product Type
- Heat Pumps
- Humidifying Equipment
- By Fuel Type
- Electric Powered
- Gas-Powered
- Hybrid
- Solar Powered
- By Implementation
- New Construction
- Maintenance
- By Application
- By End User Industry
- Residential
- Commercial
- Industrial
- By Business Type
- Original Equipment Manufacturer (OEM)
- Aftermarket
- By Region
- North America
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Honeywell International Inc.
- Haier Group
- Daikin Industries, Ltd.
- Bosch Thermotechnik GmbH
- NIBE Group
- Johnson Controls Inc.
- Mitsubishi Electric Corporation
- Hitachi Appliances, Inc.
- Danfoss
- AB Electrolux