Apr 28, 2022 SOURCE: BusinessWire

Worldwide Hot Water and Heating Equipment Industry to 2027 - Key Drivers, Restraints and Trends - ResearchAndMarkets.com

The "Global Hot Water and Heating Equipment Market - Analysis By Product Type, End-User, By Region, By Country (2022 Edition): Market Insights and Forecast with Impact of COVID-19 (2022-2027)" report has been added to ResearchAndMarkets.com's offering.

The Global Hot Water and Heating Equipment Market was valued at USD 50.2 Billion in the year 2021.

Companies Mentioned

AO Smith
Bosch
Ariston Thermo
Rinnai Corporation
Whirlpool Corporation
Noritz Corporation
Bajaj Electricals
Haier
Lennox International
Havells India Ltd.

With the increased disposable income in highly populated countries such as China, Japan, and India, the adoption of Furnaces is high. The advancements in Hot Water and Heating Equipment and increased use of electronics devices drive the Hot Water and Heating Equipment market.

Furthermore, the increasing penetration of Hot Water and Heating Equipment in Furnaces and Heat Pumps and the Residential sector will further propel the market in the coming years. Factors such as the higher concentration of OEMs and ODMs across industries, including consumers and Services in the APAC region will significantly drive Hot Water and Heating Equipment market growth in subsequent years.

The Heat Pump product type of Hot Water and Heating Equipment in the Market witnessed growth at a noteworthy rate over the past few years and expected in the forecast period due to the imperative role being played because of the factors such as the higher concentration of heating equipment manufacturing companies. During 2022-2027, Hot Water and Heating Equipment Market is anticipated to grow at an increased rate of intensifying government regulations in various parts of the world.

The Residential sector of Hot Water and Heating Equipment is expected to hold a larger market share of the Hot Water and Heating Equipment Market than Insourcing in the segment. Moreover, increasing demand for new comfortability and security in customers in the world has been anticipated to propel thrust in the demand of Hot Water and Heating Equipment in the future.

Amongst the regions, the Asia Pacific accounts for a large regional share in the global Hot Water and Heating Equipment market in 2027. Key factors driving the robust growth rate of the Asia Pacific region include rising urban population, disposable income, increasing electronic technologies activities in different countries, the rise in the demand to improve quality by eliminating errors and reducing variability for better comfortability while carrying and storing the good in a storage place is a major factor driving the Hot Water and Heating Equipment market growth in the Asia Pacific Region.

Scope of the Report:

The report presents the analysis of the Hot Water and Heating Equipment Market for the historical period of 2017-2021 and the forecast period of 2022-2027.
The report analyses the Hot Water and Heating Equipment Market by Value (USD Million).
The report analyses the Hot Water and Heating Equipment Market By Product Type (Heat Pump
The report provides a comprehensive analysis of the global Hot Water and Heating Equipment market, segmented By Product Type (Heat Pumps, Unitary Heaters, Furnaces, Others), By End User Type (Residential, Non-Residential).
The major regional markets (America, Asia-Pacific, Europe and, the Middle East, and Africa) have been analyzed, along with country coverage of the US, Germany, and China.
The market dynamics such as growth drivers, market trends, and challenges are analyzed in-depth.

Key Topics Covered:

1. Report Scope and Methodology

2. Strategic Recommendations

3. Hot Water and Heating Equipment Market: Product Overview

4. Global Hot Water and Heating Equipment Market: An Analysis

4.1 Market Size, By Value, Year 2017-2021

4.2 Impact of COVID-19 on Hot Water and Heating Equipment Market

4.3 Global Hot Water and Heating Equipment Market: Growth & Forecast

5. Global Hot Water and Heating Equipment Market: Segment Analysis

6. Global Hot Water and Heating Equipment Market Segmentation, By End User Type (Value)

7. Global Hot Water and Heating Equipment Market: Regional Analysis

8. Americas Hot Water and Heating Equipment Market: An Analysis (2017-2027)