Heating and Cooling Market size to exceed 60 EJ by 2025

Heating & Cooling Market size will surpass an annual consumption of 60 EJ by 2025, as reported in the latest study by Global Market Insights, Inc.
 

The global heating & cooling market is expected to witness growth on account of rising demand for temperature regulation across residential, commercial and industrial establishments. These account for majority of the total primary energy demand across both developed and developing economies. HVAC systems in the current regime have gained impetus owing to large scale suburban migration and industrial expansion across major regions. These units provide effective heating, ventilation and air conditioning across households, industries and service sector deployments.

 

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Strict emission norms to mandate utilization of energy efficient systems

Stringent reforms toward carbon emissions coupled with volatile & extreme climatic conditions across distinct regions will fuel the heating & cooling market growth. Green building standards in alignment with ongoing adoption of sustainable energy sources will augment the industry landscape. The UN Secretary General introduced the initiative concerning zero carbon buildings, during the Climate Action Summit. The initiative aims to aid and leverage governments, civil societies and industries to accomplish commitments for decarbonizing buildings by 2050.
 

Climatic conditions and demographics to play a vital role in fueling demand

Extreme climatic conditions in coalition to rising surface temperatures will boost the demand for cooling infrastructure across equatorial regions. Rise in the number of heating days coupled with global warming concerns will drive the demand for effective & efficient systems. HVAC manufacturers in compliance to stringent energy efficiency mandates & norms have been aligning business strategies to retain their industrial competence. Moreover, technological feasibility, regional proximity, per capita energy consumption in line with the willingness to spend for cooling systems are few indispensable factors fueling the technological demand.
 

Browse key industry insights spread across 1050 pages with 2339 market data tables & 9 figures & charts from the report, “Global Heating & Cooling Market Size By Category (Heating (Source {Electricity, District Heating, Biofuels & Waste, Renewables, Geothermal, Natural Gas, Oil Products, Coal}, Cooling)), By Application (Industrial [Temperature Gradient {High, Medium, Low}, Specification {Energy Intensive (Iron & Steel, Non-Ferrous Metal, Chemical, Non – Metallic Mineral Product, Pulp & Paper), Non-Energy Intensive}], Residential [Specification {Single Family, Multi Family, High Rise}], Service Sector [Specification {Hospitals, Hotels & Restaurants, Sport & Recreation, Shop-Large, Shop-Small, Offices}]), Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2019 – 2025in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/heating-cooling-market
 

Urbanization & industrial expansion favor technological adoption

Ongoing urbanization and industrialization across emerging economies have instigated demographic changes, rise in disposable income and enhanced standard of living which in turn will foster the industry share. Technological enhancements, energy efficiency concord, flexibility of fuel options, lower thermal losses along with rapid sustainable network integration will positively impact the industry outlook. In addition, upsurge in industrial competence amongst HVAC manufacturers supported by increasing demand across niche regional markets will further pave a favorable platform for business expansion.
 

Need for space heating & cooling driving demand across the U.S.

Heating & cooling market across the U.S. is set to grow over 2% by 2025. Increasing demand for effective space cooling & heating solutions in conjunction to the upsurge in residential and commercial consumer expenditure will propel the industry growth. Moreover, government initiatives aligned to promote energy efficiency favored by stringent norms concerning CO2 emissions will positively impact the industry share. The Center for Climate & Energy in 2018, proclaimed that the national energy sector has witnessed a reduction of about 27% in emissions over the last decade.
 

District heating infrastructure to suffice consumption across industrial establishments

Heating & cooling market across industries exceeded USD 300 Billion in 2018. Leak protection and reducing conveyance losses are few prominent parameters driving the demand for district heating (DH) infrastructure across these peripherals. Growing dependency on biomass aided DH units across chemical plants have led to enhanced energy efficiency & minimized environmental impact. In addition, characterizing wood pellets as fuel on account of their ease of processing and abundance will further complement the industry outlook.
 

Companies operating across the industry have aligned focus towards technological collaborations, mergers and joint ventures with an aim to retain their business competence. Moreover, the competitive landscape is expected to gain intensity on account of key participants focusing on strategic alliances with regional utilities. Key participants functioning across the heating and cooling market include Johnson Control, Siemens, Daikin, Trane, Lennox, Rheem, Mitsubishi, Goodman, Haier, Danfoss, Empower, Ingersoll Rand, SNC Lavalin, Fortum, and Veolia.
 

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Global heating & cooling market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD” and “Peta-Joule (PJ)” from 2019 to 2025, for the following segments:

By Category

  • Heating
    • Source
      • Electricity
      • District heating
      • Biofuels & waste
      • Renewables
      • Geothermal
      • Natural gas
      • Oil products
      • Coal
      • Others
  • Cooling

Global Heating & Cooling Market, By Application

  • Industrial
    • Category
      • Heating
        • Source
          • Electricity
          • District heating
          • Biofuels & waste
          • Renewables
          • Geothermal
          • Natural gas
          • Oil products
          • Coal
          • Others
        • Temperature Gradient
          • High
          • Medium
          • Low
        • Specification
          • Energy Intensive
            • Iron & steel
            • Non-ferrous metal industry
            • Chemical industry
            • Non – metallic mineral product industry
            • Pulp & paper industry
          • Non-energy Intensive
      • Cooling
        • Specification
          • Energy Intensive
            • Iron & steel
            • Non-ferrous metal industry
            • Chemical industry
            • Non – metallic mineral product industry
            • Pulp & paper industry
          • Non-energy Intensive
  • Residential
    • Category
      • Heating
        • Source
          • Electricity
          • District heating
          • Biofuels & waste
          • Renewables
          • Geothermal
          • Natural gas
          • Oil products
          • Coal
          • Others
        • Specification
          • Single family
          • Multi family
          • High rise
      • Cooling
        • Specification
          • Single Family
          • Multi Family
          • High Rise
  • Service Sector
    • Category
      • Heating
        • Source
          • Electricity
          • District heating
          • Biofuels & waste
          • Renewables
          • Geothermal
          • Natural gas
          • Oil products
          • Coal
          • Others
        • Specification
          • Hospitals
          • Hotels & Restaurants
          • Sport & Recreation
          • Shop-Large
          • Shop-Small
          • Offices
      • Cooling
        • Specification
          • Hospitals
          • Hotels & Restaurants
          • Sport & Recreation
          • Shop-Large
          • Shop-Small
          • Offices
  • The above information is provided on a regional & country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Austria
    • Belgium
    • Denmark
    • Finland
    • France
    • Germany
    • Italy
    • UK
  • Russia
  • Asia Pacific
    • Japan
    • China
    • Japan
    • South Korea
  • Middle East
    • Saudi Arabia
    • UAE
    • Qatar
    • Oman
    • Kuwait
    • Bahrain
  • Rest of World
     

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