Home Heating Equipment Market - Global Home Heating Equipment Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Product Coverage, By Fuel Coverage, By Service Coverage, By Geographic Coverage and By Company)

Home Heating Equipment Market - Global Home Heating Equipment Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Product Coverage, By Fuel Coverage, By Service Coverage, By Geographic Coverage and By Company)


Global Home Heating Equipment Market Forecast: A Shift Towards Sustainability and Efficiency
The global home heating equipment market is on the path to significant growth, with projections indicating a surge from approximately US$4.8 billion in 2022 to a substantial US$7.02 billion by 2030, representing a Compound Annual Growth Rate (CAGR) of 5.6%. Fairfield Market Research's latest report delves into this dynamic market, emphasizing key growth drivers, emerging trends, and the competitive landscape.

Key Trends Fueling Growth in the Home Heating Equipment Market
Demand for Sustainable and Environmentally Friendly Heating: A key trend driving the growth of the home heating equipment market is the increasing demand for sustainable and environmentally friendly heating options. The awareness of climate change and the need to reduce carbon emissions are pushing consumers toward eco-conscious heating solutions.

Embrace of Renewable Energy Sources: Consumers are increasingly turning to renewable energy sources such as solar heating, geothermal heat pumps, and biomass heating systems. These options not only provide comfort but also align with environmental values, reflecting a growing interest in sustainable living.

Energy Efficiency Improvements: Energy efficiency is a significant focus in the home heating service market. Modern insulation materials, high-efficiency furnaces, and smart thermostats are gaining popularity due to their ability to reduce heating costs and energy consumption.

Smart Home Integration: The incorporation of smart home technology is transforming the delivery of heating services. Smart thermostats and heating control systems allow homeowners to remotely monitor and control their heating systems, leading to energy savings and increased convenience.

Heating as a Service (HaaS): An emerging trend, heating as a service (HaaS), allows consumers to subscribe to heating services rather than purchasing and maintaining heating equipment. HaaS providers offer hassle-free heating solutions, including installation, upkeep, and repairs, enabling consumers to access energy-efficient heating systems without high upfront costs.

Major Growth Determinants
Shift Towards Environmentally Sustainable Heating Options: The increasing demand for sustainable and environmentally friendly heating options is a key driver of the home heating equipment market. Consumers are actively seeking alternatives that align with environmental concerns and offer energy efficiency.

Energy Efficiency Improvements: Energy-efficient heating systems, including high-efficiency furnaces and smart thermostats, are gaining popularity as consumers seek cost-effective and environmentally friendly heating solutions. Retrofitting services and energy audits are offered to enhance the efficiency of existing heating systems.

Smart Home Integration: The integration of smart home technology is reshaping the delivery of heating services. Smart thermostats and heating control systems enable remote monitoring and control, leading to energy savings and enhanced convenience, aligning with the trend toward smart homes.

Key Trends and Opportunities to Watch
Demographic Trends: Changing demographics, including urbanization and aging populations, impact the market. Urbanization influences the preference for more efficient and compact heating systems, while older homeowners prioritize convenience and comfort, driving demand for intelligent and automated solutions.

Eco-friendly Packaging: Economic factors, such as income levels and energy prices, affect the market. Rising energy costs may encourage homeowners to invest in energy-efficient systems to reduce heating expenses.

Climate Change and Extreme Weather Events: Climate change-driven extreme weather events increase the demand for reliable and effective heating systems. High-efficiency furnaces, heat pumps, and emergency heating systems gain popularity to withstand severe weather conditions.

Regulatory Landscape
Energy efficiency standards and environmental regulations shape the home heating equipment market. These regulations specify minimum energy efficiency standards and safety requirements for heating systems, promoting the use of cleaner fuels and technologies. Government incentives, tax breaks, and subsidies further encourage the adoption of energy-efficient and environmentally friendly heating systems.

Regional Frontrunners
North America Leads: North America, with its diverse climate zones, remains the largest contributor to the global home heating equipment market. Natural gas is widely used in the United States due to its affordability and dependability.

Asia Pacific Grows: The Asia Pacific region is witnessing growth in the home heating equipment market due to urbanization and housing growth, driving demand for heating services in newly constructed residential communities and commercial structures.

Leading Companies in the Global Home Heating Equipment Market
• Carrier Corporation
• Trane Technologies plc
• Daikin Industries Ltd.
• Lennox International Inc.
• Rheem Manufacturing Company
• Viessmann Group
• NIBE Industrier AB
• Vaillant Group
• Bosch Thermotechnology Ltd.
• Smith Corporation
• BullsEye Plumbing Heating & Air of Colorado Springs
• Advance Ventilation Pvt. Limited
• Multiline Industries Pvt. Ltd.
• Ascent Aircon Pvt. Ltd.
• Global Ac System Jsr Pvt. Ltd.
• Febo Engineering (p) Ltd.
• Johnson Controls International

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1. Executive Summary
1.1. Global Home Heating Equipment Market
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2022
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Global Home Heating Equipment Market Outlook, 2018 - 2030
3.1. Global Home Heating Equipment Market Outlook, by Product, Value (US$ Bn), 2018 - 2030
3.1.1. Key Highlights
3.1.1.1. Furnaces
3.1.1.2. Boilers
3.1.1.3. Heat Pumps
3.1.1.4. Misc.
3.2. Global Home Heating Equipment Market Outlook, by Fuel, Value (US$ Bn), 2018 - 2030
3.2.1. Key Highlights
3.2.1.1. Natural Gas
3.2.1.2. Heating Oil
3.2.1.3. Electricity
3.2.1.4. Biomass
3.2.1.5. Misc.
3.3. Global Home Heating Equipment Market Outlook, by Service, Value (US$ Bn), 2018 - 2030
3.3.1. Key Highlights
3.3.1.1. Repair
3.3.1.2. Replacement
3.4. Global Home Heating Equipment Market Outlook, by Region, Value (US$ Bn), 2018 - 2030
3.4.1. Key Highlights
3.4.1.1. North America
3.4.1.2. Europe
3.4.1.3. Asia Pacific
3.4.1.4. Latin America
3.4.1.5. Middle East & Africa
4. North America Home Heating Equipment Market Outlook, 2018 - 2030
4.1. North America Home Heating Equipment Market Outlook, by Product, Value (US$ Bn), 2018 - 2030
4.1.1. Key Highlights
4.1.1.1. Furnaces
4.1.1.2. Boilers
4.1.1.3. Heat Pumps
4.1.1.4. Misc.
4.2. North America Home Heating Equipment Market Outlook, by Fuel, Value (US$ Bn), 2018 - 2030
4.2.1. Key Highlights
4.2.1.1. Natural Gas
4.2.1.2. Heating Oil
4.2.1.3. Electricity
4.2.1.4. Biomass
4.2.1.5. Misc.
4.3. North America Home Heating Equipment Market Outlook, by Service, Value (US$ Bn), 2018 - 2030
4.3.1. Key Highlights
4.3.1.1. Repair
4.3.1.2. Replacement
4.3.2. BPS Analysis/Market Attractiveness Analysis
4.4. North America Home Heating Equipment Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
4.4.1. Key Highlights
4.4.1.1. U.S. Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
4.4.1.2. U.S. Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
4.4.1.3. U.S. Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
4.4.1.4. Canada Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
4.4.1.5. Canada Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
4.4.1.6. Canada Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
4.4.2. BPS Analysis/Market Attractiveness Analysis
5. Europe Home Heating Equipment Market Outlook, 2018 - 2030
5.1. Europe Home Heating Equipment Market Outlook, by Product, Value (US$ Bn), 2018 - 2030
5.1.1. Key Highlights
5.1.1.1. Furnaces
5.1.1.2. Boilers
5.1.1.3. Heat Pumps
5.1.1.4. Misc.
5.2. Europe Home Heating Equipment Market Outlook, by Fuel, Value (US$ Bn), 2018 - 2030
5.2.1. Key Highlights
5.2.1.1. Natural Gas
5.2.1.2. Heating Oil
5.2.1.3. Electricity
5.2.1.4. Biomass
5.2.1.5. Misc.
5.3. Europe Home Heating Equipment Market Outlook, by Service, Value (US$ Bn), 2018 - 2030
5.3.1. Key Highlights
5.3.1.1. Repair
5.3.1.2. Replacement
5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Europe Home Heating Equipment Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
5.4.1. Key Highlights
5.4.1.1. Germany Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
5.4.1.2. Germany Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
5.4.1.3. Germany Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
5.4.1.4. U.K. Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
5.4.1.5. U.K. Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
5.4.1.6. U.K. Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
5.4.1.7. France Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
5.4.1.8. France Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
5.4.1.9. France Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
5.4.1.10. Italy Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
5.4.1.11. Italy Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
5.4.1.12. Italy Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
5.4.1.13. Turkey Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
5.4.1.14. Turkey Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
5.4.1.15. Turkey Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
5.4.1.16. Russia Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
5.4.1.17. Russia Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
5.4.1.18. Russia Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
5.4.1.19. Rest of Europe Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
5.4.1.20. Rest of Europe Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
5.4.1.21. Rest of Europe Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
5.4.2. BPS Analysis/Market Attractiveness Analysis
6. Asia Pacific Home Heating Equipment Market Outlook, 2018 - 2030
6.1. Asia Pacific Home Heating Equipment Market Outlook, by Product, Value (US$ Bn), 2018 - 2030
6.1.1. Key Highlights
6.1.1.1. Furnaces
6.1.1.2. Boilers
6.1.1.3. Heat Pumps
6.1.1.4. Misc.
6.2. Asia Pacific Home Heating Equipment Market Outlook, by Fuel, Value (US$ Bn), 2018 - 2030
6.2.1. Key Highlights
6.2.1.1. Natural Gas
6.2.1.2. Heating Oil
6.2.1.3. Electricity
6.2.1.4. Biomass
6.2.1.5. Misc.
6.3. Asia Pacific Home Heating Equipment Market Outlook, by Service, Value (US$ Bn), 2018 - 2030
6.3.1. Key Highlights
6.3.1.1. Repair
6.3.1.2. Replacement
6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. Asia Pacific Home Heating Equipment Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
6.4.1. Key Highlights
6.4.1.1. China Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
6.4.1.2. China Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
6.4.1.3. China Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
6.4.1.4. Japan Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
6.4.1.5. Japan Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
6.4.1.6. Japan Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
6.4.1.7. South Korea Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
6.4.1.8. South Korea Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
6.4.1.9. South Korea Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
6.4.1.10. India Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
6.4.1.11. India Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
6.4.1.12. India Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
6.4.1.13. Southeast Asia Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
6.4.1.14. Southeast Asia Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
6.4.1.15. Southeast Asia Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
6.4.1.16. Rest of Asia Pacific Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
6.4.1.17. Rest of Asia Pacific Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
6.4.1.18. Rest of Asia Pacific Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
6.4.2. BPS Analysis/Market Attractiveness Analysis
7. Latin America Home Heating Equipment Market Outlook, 2018 - 2030
7.1. Latin America Home Heating Equipment Market Outlook, by Product, Value (US$ Bn), 2018 - 2030
7.1.1. Key Highlights
7.1.1.1. Furnaces
7.1.1.2. Boilers
7.1.1.3. Heat Pumps
7.1.1.4. Misc.
7.2. Latin America Home Heating Equipment Market Outlook, by Fuel, Value (US$ Bn), 2018 - 2030
7.2.1. Key Highlights
7.2.1.1. Natural Gas
7.2.1.2. Heating Oil
7.2.1.3. Electricity
7.2.1.4. Biomass
7.2.1.5. Misc.
7.3. Latin America Home Heating Equipment Market Outlook, by Service, Value (US$ Bn), 2018 - 2030
7.3.1. Key Highlights
7.3.1.1. Repair
7.3.1.2. Replacement
7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Latin America Home Heating Equipment Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
7.4.1. Key Highlights
7.4.1.1. Brazil Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
7.4.1.2. Brazil Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
7.4.1.3. Brazil Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
7.4.1.4. Mexico Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
7.4.1.5. Mexico Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
7.4.1.6. Mexico Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
7.4.1.7. Argentina Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
7.4.1.8. Argentina Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
7.4.1.9. Argentina Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
7.4.1.10. Rest of Latin America Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
7.4.1.11. Rest of Latin America Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
7.4.1.12. Rest of Latin America Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
7.4.2. BPS Analysis/Market Attractiveness Analysis
8. Middle East & Africa Home Heating Equipment Market Outlook, 2018 - 2030
8.1. Middle East & Africa Home Heating Equipment Market Outlook, by Product, Value (US$ Bn), 2018 - 2030
8.1.1. Key Highlights
8.1.1.1. Furnaces
8.1.1.2. Boilers
8.1.1.3. Heat Pumps
8.1.1.4. Misc.
8.2. Middle East & Africa Home Heating Equipment Market Outlook, by Fuel, Value (US$ Bn), 2018 - 2030
8.2.1. Key Highlights
8.2.1.1. Natural Gas
8.2.1.2. Heating Oil
8.2.1.3. Electricity
8.2.1.4. Biomass
8.2.1.5. Misc.
8.3. Middle East & Africa Home Heating Equipment Market Outlook, by Service, Value (US$ Bn), 2018 - 2030
8.3.1. Key Highlights
8.3.1.1. Repair
8.3.1.2. Replacement
8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Middle East & Africa Home Heating Equipment Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
8.4.1. Key Highlights
8.4.1.1. GCC Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
8.4.1.2. GCC Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
8.4.1.3. GCC Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
8.4.1.4. South Africa Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
8.4.1.5. South Africa Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
8.4.1.6. South Africa Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
8.4.1.7. Egypt Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
8.4.1.8. Egypt Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
8.4.1.9. Egypt Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
8.4.1.10. Nigeria Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
8.4.1.11. Nigeria Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
8.4.1.12. Nigeria Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
8.4.1.13. Rest of Middle East & Africa Home Heating Equipment Market by Product, Value (US$ Bn), 2018 - 2030
8.4.1.14. Rest of Middle East & Africa Home Heating Equipment Market by Fuel, Value (US$ Bn), 2018 - 2030
8.4.1.15. Rest of Middle East & Africa Home Heating Equipment Market by Service, Value (US$ Bn), 2018 - 2030
8.4.2. BPS Analysis/Market Attractiveness Analysis
9. Competitive Landscape
9.1. Manufacturer vs Product Heatmap
9.2. Company Market Share Analysis, 2022
9.3. Competitive Dashboard
9.4. Company Profiles
9.4.1. Daikin Industries Ltd.
9.4.1.1. Company Overview
9.4.1.2. Product Portfolio
9.4.1.3. Financial Overview
9.4.1.4. Business Strategies and Development
9.4.2. Carrier Corporation
9.4.2.1. Company Overview
9.4.2.2. Product Portfolio
9.4.2.3. Financial Overview
9.4.2.4. Business Strategies and Development
9.4.3. Trane Technologies plc
9.4.3.1. Company Overview
9.4.3.2. Product Portfolio
9.4.3.3. Financial Overview
9.4.3.4. Business Strategies and Development
9.4.4. Johnson Controls International plc
9.4.4.1. Company Overview
9.4.4.2. Product Portfolio
9.4.4.3. Financial Overview
9.4.4.4. Business Strategies and Development
9.4.5. Rheem Manufacturing Company
9.4.5.1. Company Overview
9.4.5.2. Product Portfolio
9.4.5.3. Financial Overview
9.4.5.4. Business Strategies and Development
9.4.6. VIESSMANN GROUP
9.4.6.1. Company Overview
9.4.6.2. Product Portfolio
9.4.6.3. Financial Overview
9.4.6.4. Business Strategies and Development
9.4.7. NIBE Industrier AB
9.4.7.1. Company Overview
9.4.7.2. Product Portfolio
9.4.7.3. Financial Overview
9.4.7.4. Business Strategies and Development
9.4.8. Vaillant Group
9.4.8.1. Company Overview
9.4.8.2. Product Portfolio
9.4.8.3. Business Strategies and Development
9.4.9. Bosch Thermotechnology Ltd.
9.4.9.1. Company Overview
9.4.9.2. Product Portfolio
9.4.9.3. Financial Overview
9.4.9.4. Business Strategies and Development
9.4.10. O. Smith Corporation
9.4.10.1. Company Overview
9.4.10.2. Product Portfolio
9.4.10.3. Financial Overview
9.4.10.4. Business Strategies and Development
9.4.11. BullsEye Plumbing Heating & Air of Colorado Springs
9.4.11.1. Company Overview
9.4.11.2. Product Portfolio
9.4.11.3. Financial Overview
9.4.11.4. Business Strategies and Development
9.4.12. Advance Ventilation Pvt. Limited
9.4.12.1. Overview
9.4.12.2. Product Portfolio
9.4.12.3. Financial Overview
9.4.12.4. Business Strategies and Development
9.4.13. Multiline Industries Pvt. ltd.
9.4.13.1. Company Overview
9.4.13.2. Product Portfolio
9.4.13.3. Financial Overview
9.4.13.4. Business Strategies and Development
9.4.14. Ascent Aircon Pvt. Ltd.
9.4.14.1. Company Overview
9.4.14.2. Product Portfolio
9.4.14.3. Financial Overview
9.4.14.4. Business Strategies and Development
9.4.15. Global Ac System Jsr Pvt Ltd
9.4.15.1. Company Overview
9.4.15.2. Product Portfolio
9.4.15.3. Financial Overview
9.4.15.4. Business Strategies and Development
10. Appendix
10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations

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