Rise in urbanization in developing countries, increase in spending on home remodeling in construction sector demands Air Heating Appliance

PORTLAND, OR, UNITES STATES, February 13, 2023 /EINPresswire.com/ -- The air heating appliance market refers to the market for various types of appliances used to heat indoor air in residential and commercial settings. This market has seen significant growth in recent years, driven by factors such as increasing consumer demand for energy-efficient heating solutions, advancements in technology, and favorable government regulations.

The global air heating appliance market size was valued at $12.5 billion in 2019, and is projected to reach $16.8 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027.

In 2019, Asia-Pacific region dominated the global air heating appliance market, in terms of revenue, accounting for around 49.4% share of the global air heating appliance industry, followed by Europe and North America. Moreover, owing to increase in cases of COVID-19 in the UK, vehicle manufacturers are also focusing on the adoption of Ultraviolet light for killing pathogens in the heating appliance. For instance, in April 2020, Jaguar Land Rover Automatic Plc, a subsidiary of Jaguar Land Rover Limited, based in the UK, is working on new innovation of ultraviolet (UV-c) light as a part of heating systems.

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The increase in urbanization & industrialization in emerging countries such as India, China, the U.S., and others drives the demand for the air heating appliance market. In addition, stringent regulations considering the environmental norms have enforced various commercial organizations and industries to install heating equipment in their operating areas.

Furthermore, surge in demand for remote access control systems, which are easy to operate fosters the growth in investments of the market by the commercial, industrial, and residential end users. This growth in investments of the market has led to the development of advanced heating equipment that has various sensors and that can be operated from remote locations. Development in the infrastructure of residential, commercial, and industrial buildings has also increased the demand for heating equipment in the market.

However, increase in competition among domestic manufacturers and the presence of substitutes and duplicate products are anticipated to hampers the growth of the air heating appliance market. An increase in government initiatives in terms of improving the energy efficiency in various industries such as automotive, power, and mining is projected to provide lucrative opportunities for the growth of the market during the forecast period.

During a lockdown, owing to the coronavirus situation, various manufacturers in the global air heating appliance market to stop their business production due to lockdown implemented in countries such as China, the U.S., India, and others. This break directly impacted the sales of air heating appliance companies. In addition, lack of manpower and raw materials halts the supply of air heating appliances. However, the reopening of production facilities and the introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of air heating appliance companies.

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Key Players:

The key players profiled in the air heating appliance market report include Alfa Laval Corporate AB, Daikin Industries, Ltd, Danfoss A/S, Emerson Electric Co., General Electric Company, Ingersoll-Rand Plc, Johnson Controls International Plc, Lennox International Inc, Robert Bosch GmbH, and Vaillant Group.

The major players in the global air heating appliance companies have adopted partnership, acquisition, product launch, and product development as key developmental strategies to improve the footprint of air heating appliance market. For instance, in January 2018, Lennox International Inc launched a new SL280NV Gas Furnace. It is a highly efficient HVAC system. It is used to create better air inside or outside their homes. It is an eco-efficient furnace, with low NOx emission. It possesses features such as ultra-smart control, environment friendly, comfort, and lower emission.

David Correa
Allied Analytics LLP
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