The global air heating appliance market size was US$ 12,929.4 million in 2021. The global air heating appliance market is forecast to grow to US$ 17,194.6 million by 2030 by growing at a compound annual growth rate (CAGR) of 6.1% during the forecast period from 2022 to 2030.
Factors Influencing the Market
The demand for energy-efficient heating equipment is growing rapidly. In addition, growing technological advancements in air heating appliances will gain significant traction in the coming years.
Growing industrialization and urbanization in various developing countries will surge the growth of the global air heating appliance market. The growing population and their energy needs are forecast to surge the energy bills. In addition, strict environmental norms have enforced various commercial organizations and industries intending to install heating equipment in their operating areas will surge the growth of the market.
The rising automation across all industrial verticals and demand for remote access control systems will offer ample growth opportunities for the global air heating appliance market. Additionally, the wide applications of air heating appliances in commercial, industrial, and residential spaces will drive the market forward during the study period.
The development of advanced heating equipment will benefit the market during the study period. For instance, Alfa Laval Corporate AB unveiled its new bloc-type Compbloc + heat exchangers in March 2020. Compbloc is considered a highly efficient and reliable technology that has 3-5 times greater thermal efficiency and needs less space to install.
COVID-19 Impact Analysis
The wake of the COVID-19 pandemic posed a significant threat to the global air heating appliance market in the first quarter of 2020. It is owing to the interruptions witnessed by manufacturers due to bans on international trades. It also led to a halt in overall production activities, which decreased the demand for air heating appliances from the end-use sectors.
Regional Analysis
The Asia-Pacific air heating appliance market is forecast to grow at the fastest growth rate. It is due to the growing manufacturing activities majorly in emerging economies. Further, steady economic development and robust construction activity will drive this regional market forward.
Growing urbanization in growing economies like India and China will significantly benefit the regional market. In addition to that, improvements in residential and commercial infrastructure will contribute to the growth of the air heating appliance industry.
Competitors in the Market
Market Segmentation
The global air heating appliance market segmentation focuses on Type, Fuel, End-Users, and Region.
By Type Outlook
By Fuel Type Outlook
By End-Users Outlook
By Region
