Heating Equipment (Except Warm Air Furnaces) Manufacturing Market Size:
The global heating equipment (except warm air furnaces) manufacturing market was valued at $15.9 billion in 2017. Western Europe was the largest geographic region accounting for $5.7 billion or 36.1% of the global market. The USA was the largest country accounting for $2.4 billion or 15.5% of the global heating equipment (except warm air furnaces) manufacturing market.
Heating Equipment (Except Warm Air Furnaces) Manufacturing Market Overview:
The heating equipment manufacturers are increasingly integrating IOT technology with heating equipment due to growing demand for real time insights. The internet of things is the inter-networking of physical devices embedded with software, sensors and network connectivity which enable these objects to collect and exchange data. Using IOT, heating equipment systems are closely monitored and controlled from remote locations. Real time monitoring, predictive maintenance, remote diagnostics, system adaptation, continuous comfort, increased efficiency, focus on user experience are some of the features of IoT enabled heating equipment.
Western Europe was the largest geographic region in the global heating equipment (except warm air furnaces) manufacturing market, accounting for one-third of the market share.
According to The Business Research Company’s Consultant, Nitin Gianchandani, building automation systems (BASs) are being revived with advanced features to increase energy efficiency at home. BASs are systems that are responsible for monitoring and regulating heating equipment in a building. By embedding with digital communication tools, the heating equipment can be controlled in a better way.
Daikin Industries was the largest competitor in the global heating equipment (except warm air furnaces) manufacturing market, with revenues of $ 17.5 billion for the financial year 2014. Daikin’s growth strategy is called Fusion. Fusion is a strategic management plan that defines the five-year development of the Daikin Group based on Our Group Philosophy and an assessment of the current situation. Quantitative targets are established three years in the future as part of the implementation plan. With an emphasis on management innovation, including structural reforms, goals are set for five years in the future.
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The heating equipment (except warm air furnaces) manufacturing market comprise establishments mainly involved in manufacturing heating equipment (except electric and warm air furnaces), such as heating boilers, heating stoves, floor and wall furnaces, and wall and baseboard heating units. Heating systems are extensively used in the food & beverage, mining and automotive industry.
Heating Equipment (except Warm Air Furnaces) Manufacturing Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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