The North America heating equipment market in North America was valued at US$ 7,610. 8 million in 2019 and is projected to reach US$ 11,839. 8 million by 2027; it is expected to grow at a CAGR of 6. 0% from 2020 to 2027.
New York, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Heating Equipment Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product and End-user" - https://www.reportlinker.com/p06004209/?utm_source=GNW
There is a huge demand for air conditioning systems in the US, which ultimately drives the demand for heating equipment due to its energy quality, low installation cost, and ease of maintenance.In addition, companies are inventing air-cooling methods to make them more efficient and powerful.
Amazon has recently been equipped a thermal storage tank to regulate temperature and humidity in the data center. These innovations in air conditioning would continue to grow over the forecast period, thereby driving the North America heating equipment market.
Based on end user, the industrial segment led the North America heating equipment market in 2019.The demand for industrial heating equipment would increase during the forecast period.
Heating systems are commonly used in the mining, automotive and food & beverages industries.More investment is expected to have a positive impact on the market in the coming years as the US manufacturing sector grows.
Favorable government policies and fiscal refunds are projected to increase commodity demand in the manufacturing sector while installing energy-saving equipment.District heating systems would become popular in the coming years.
Growth in the industrial segment is also expected to be driven by rising commodity demand for refining, production, and smelting.
Manufacturing and supply chains have been disrupted by a lockdown and bans on transport in many countries.There has been economic stagnation and uncertainty in the manufacturing sector.
In addition, school and workplace closures also reduced the commercial demand for heating appliances. However, major growth is expected over the next few years from the efforts of key players in product creation and innovation.
The overall North America heating equipment market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the North America heating equipment market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the North America heating equipment market. Carrier Global Corporation; Daikin Industries, Ltd.; Danfoss; Emerson Electric Co.; Haier Group Corporation; Johnson Controls, Inc.; Lennox International, Inc.; Panasonic Corporation; Robert Bosch GmbH; and Trane Technologies are among key players operating in the North America heating equipment market.
Read the full report: https://www.reportlinker.com/p06004209/?utm_source=GNW
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