The global heating & cooling market is poised for robust growth in the wake of stringent measures being implemented to curb carbon emissions. Large scale suburban migration and industrial expansion across developing economies have supported the adoption of efficient heating and cooling systems across residential as well as commercial spaces. The integration of cogeneration technologies in buildings has led to the adoption of renewable energy-based heating & cooling practices.
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- Pages: 1050
- Tables: 2339
- Charts / Figures: 9
- Companies covered: 15
- Countries covered: 20
Along with this, technological advancements, fuel flexibility, minimal thermal losses, sustainable network deployment as well as strict energy efficiency mandates are expected to augment heating and cooling market dynamics over the forecast period. Proliferating in the HVAC industry would further generate favorable business opportunities to the market.
The global heating and cooling market surpassed USD 1 trillion. The study further predicts that by 2025, the market would denote an annual consumption of 60 Exa-Joule.
Listed below are some of the ongoing trends in global heating & cooling market:
Rising dependency on DH (district heating) units
The heating industry includes a comprehensive range of end-use applications and technologies. District heating is one such heating technique which is gaining traction of late. The method effectively utilizes fuel and exhibit low thermal losses. The need for operational protection from leakages through restraining conveyance losses have been fueling the demand for efficient district heating infrastructure across industrial units. Integration of biomass aided DH units have resulted in an environment-friendly & energy efficient operational scenario across chemical plants.
Demand for heating & cooling solutions across the U.S.
Burgeoning demand for space heating & cooling units along with increasing consumer spending on the residential & commercial front is expected to augment U.S. heating & cooling market growth. Favorable initiatives to aid energy efficiency and stern norms to curb CO2 emissions may complement regional industry expansion. In 2018, government authorities pledged over 25% reduction in emissions from the energy sector compared to the past decade. With increasing focus on carbon emission, studies suggest that the U.S heating & cooling market may register growth at a rate of over 2% by 2025.
Adoption of HVAC systems across residential spaces
Soaring demand for efficient heating & cooling solutions has supported the adoption of HVAC systems across the residential sector. Increasing investment in real estate and advent of green building reforms has supported the integration of energy management systems (HEMS). Rapid surge in urban population and incorporation of decentralized generating systems is likely to influence heating & cooling industry outlook in the forthcoming time.
Currently, Johnson Control, Danfoss, Siemens are the leading market players operating in heating & cooling industry. These companies are focusing on robust technology and research to develop cutting edge heating and cooling systems. Global focus on adopting sustainable technologies has encouraged manufacturers to develop technologically advanced and cost-effective HVAC systems. Ongoing industrial expansion and large-scale suburban migration across Asia Pacific, Middle East and Africa have stimulated the demand for space and water heating & cooling systems. Companies have aligned their focus towards these regions to be at the forefront of the industry.
Partial Table of Contents (ToC) of the report:
Chapter 4 Global Heating & Cooling Market, By Category
4.1 Global heating & cooling market share by category, 2018 & 2025
4.2.1 Global market from heating, 2014 - 2025
4.2.2 Global market from heating, by region, 2014 - 2025
4.2.3 Global heating market from source
126.96.36.199.1 Global heating market from electricity, 2014 - 2025
188.8.131.52.2 Global heating market from electricity, by region, 2014 - 2025
184.108.40.206 District Heating
220.127.116.11.1 Global heating market from district heating, 2014 - 2025
18.104.22.168.2 Global heating market from district heating, by region, 2014 - 2025
22.214.171.124 Biofuel & Waste
126.96.36.199.1 Global heating market from biofuel & waste, 2014 - 2025
188.8.131.52.2 Global heating market from biofuel & waste, by region, 2014 - 2025
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Heating & Cooling Market's annual consumption to hit 60 EJ by 2025: Global Market Insights, Inc.