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(Construction.IndustryNews247.Com, August 03, 2018 ) 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.
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The global heating equipment (except warm air furnaces) manufacturing market was valued at $16 billion in 2017. Among regional markets, Western Europe was the largest geographic region accounting for more than two-fifth of the global market. The market saw a growth as the heating equipment manufacturers are increasingly integrating IOT technology with heating equipment due to growing demand for real time insights. 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.
The market in the report is segmented into: heating boilers, heating stoves, floor & wall furnaces, wall & baseboard heating units and others.
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The USA was the largest country in the market, accounting for more than one-third of the global heating equipment (except warm air furnaces) manufacturing market share. This was mainly due to high number of manufacturing establishments and activity in the country. The country’s large population and government initiatives also boosted the market for construction and energy generation. The USA was followed by India and China as the next largest countries in the market.
The top five competitors in the market are: Daikin Industries followed by Ingersoll-Rand, Lennox International, Robert Bosch and United Technologies. Daikin Industries is a Japanese multinational air conditioning manufacturing company headquartered in Osaka. It has operations in Japan, China, Australia, India, Philippines, Southeast Asia, Europe, North America, and South America. Daikin is the inventor of variable refrigerant volume systems (or VRV by Daikin air conditioning, other manufacturers remarked this as VRF) and an innovator in the split system air conditioning market.
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