The Heating Equipment Market size is estimated at USD 42.88 billion in 2024, and is expected to reach USD 55.40 billion by 2029, growing at a CAGR of 5.26% during the forecast period (2024-2029).
The requirement for energy-efficient heating equipment has resulted in the development of mechanical devices that can deliver cost-effective heating, assisting the market's expansion. With quick technological advancement, heating equipment provides cost-effective choices for lowering carbon emissions, boosting the heating equipment market forward. These systems are classified as either self-contained packages of units or core systems.
The competitive rivalry in the Global Heating Equipment Market is fragmented in nature due to high competition. The high owing to the presence of some key players such as Easco Boiler Corporation, Robert Bosch GmbH, Daikin industries ltd, Klima-Therm, Johnson Controls and many more.
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