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Heating & Cooling Market Size

  • Report ID: GMI4380
  • Published Date: Nov 2021
  • Report Format: PDF
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Heating & Cooling Market Size

Heating & Cooling Market size exceeded USD 1,000 billion in 2020 and is set to register over 4% CAGR between 2021 and 2027. Heating & cooling units operate on the mechanism in which heat transfers from a warm to a cooler environment alike as water streams from higher levels to lower ones. Stringent regulations pertaining to carbon emissions along with increasing infrastructural spending will foster the industry outlook. Ongoing technological advancements in line with adoption of low energy consumption products will sway the business scenario.

 

Global Heating & Cooling Market
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Heating & Cooling Market Report Attributes
Report Attribute Details
Base Year:2020
Heating & Cooling Market Size in 2020:1,028.5 Billion (USD)
Forecast Period:2021 to 2027
Forecast Period 2021 to 2027 CAGR:4%
2027 Value Projection:1,410 Billion (USD)
Historical Data for:2017 to 2020
No. of Pages:1,175
Tables, Charts & Figures:2,316
Segments covered:Category, Application
Growth Drivers:
  • North America
    • Stringent regulations pertaining to carbon emissions
  • Europe
    • Stern policy framework for green energy buildings
    • Growing focus on the adoption of sustainable systems
  • Asia Pacific
    • Rapid urbanization and industrialization
    • Regulations toward sustainable energy
  • Middle East
    • Rising infrastructural spending
    • Extreme climatic conditions
Pitfalls & Challenges:
  • High capital cost
Learn more about the key segments shaping this market
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Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The global heating & cooling industry size was worth USD 1,000 billion in 2020 and is anticipated to record a CAGR of over 4% up to 2027 due to the imposition of severe regulations regarding carbon emissions and the rising infrastructural spending.

The annual revenue of the industrial heating and cooling market exceeded USD 300 billion in 2020 and will grow with the need for operational safety from leakages and a decline in conveyance losses.

The heating & cooling market share in North America will rise at a CAGR of more than 3% through 2027 due to the surging requirement for efficient cooling & space heating solutions along with the growing residential and commercial consumer spending.

Johnson Controls, Siemens, Daikin, Lennox International, Trane, Rheem Manufacturing, Engie, Mitsubishi Electric, Haier, Danfoss, Empower, Veolia, Goodman, and Fortum, are some major companies in the global heating and cooling industry.

Heating & Cooling Market Scope

  • Heating & Cooling Market Size
  • Heating & Cooling Market Analysis
  • Heating & Cooling Market Share

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    • Base Year: 2020
    • Companies covered: 15
    • Tables & Figures: 2316
    • Countries covered: 20
    • Pages: 1175
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