In this report, Technavio covers the market outlook and growth prospects of the global warm air heater market for 2016-2020. This market is divided into residential and non-residential end-user segments.
The residential sector leads the market, having registered a market share of 57.5%, was valued at USD 1.99 billion in 2015. The growing economic activities in emerging countries combined with government initiatives to provide housing for all will create a significant demand for air heaters. Heating, ventilation, and air conditioning (HVAC) systems are gaining popularity in the consumer goods segment as customers are allocating a considerable household fund share to these systems.
Technavio’s research study segments the global warm air heater market into the following regions:
EMEA: largest warm air heater market
Europe started recovering from the Eurozone crisis in 2013. Since then, the region has been witnessing a rise in construction activities, mainly in the residential sector. Easy credit facilities and changing consumer preferences are boosting the demand for warm air heaters in the region. Additionally, the governments in this region have set strict regulations regarding energy efficiency of heating systems. There is an increased adoption of monitoring systems like building energy management systems (BEMS) to enhance efficiency of equipment. This is resulting in a largescale replacement of traditional heating systems with sustainable systems, which has added an impetus to the market in this region.
The Middle East experiences extreme climatic conditions, where air heaters become a necessity during the night. Rapidly growing population and rising disposable incomes are allowing for easy adoption of these technologies into residential and non-residential buildings. Also, Gulf Cooperation Council (GCC) countries have been investing toward the planning and development of smart and economic cities. Countries like Qatar and Dubai are witnessing a surge in construction of commercial buildings. With these projects being undertaken during the market forecast period, the air heater market will have high prospects in the region.
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Americas: energy-efficient heating systems to drive market
The US is the leader of the warm air heater market in the Americas. The construction industry in the region, combined with efforts to modernize the country’s infrastructure will drive the warm heater market. In the non-residential sector, The Canadian and Latin American markets are also witnessing significant growth owing to the flourishing construction industry. Improving business and residential environments and a need for energy-efficient heating systems will drive market growth.
“Advances in air heaters in the US will benefit from non-residential construction spending and the continued improvements in residential construction activities. Heat pumps and warm air heaters are likely to account for the highest demand by 2020. The demand for heat pumps, having both heating and cooling capabilities, will be supported by the rising sales of non-residential buildings. By contrast, warm air heaters will be extensively used in the residential buildings,” says Gaurav Mohindru, one of the lead analysts at Technavio for unit operations research.
APAC: construction spending drives warm air heater market
“In developing countries like India and China, the real estate industry grew by 49.3% in 2013. Tier 1 and 2 cities in these countries are seeing investments driven by infrastructure development, especially in the residential sector. Nearly 200 million people are likely to shift to urban areas in the next decade, calling for rapid urbanization and infrastructure developments. These factors will positively influence the growth of the HVAC market in APAC,” says Gaurav.
APAC is heavily investing in construction industry, accounting for a majority 45% of the world’s building stock (2014 figures), and represents approximately 40% of the global construction spending. China is the largest construction market in the world, with an additional 1 billion square meters of residential and commercial buildings to be constructed during the forecast period. Other countries such as India, Vietnam, Indonesia, and Singapore will also contribute to the growth of commercial construction in the region.
The top vendors in the global warm air heater market highlighted in the report are:
- Winterwarm Heating Solutions
- Kroll Energy
- Johnson & Starley
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