Dublin, Dec. 19, 2024 (GLOBE NEWSWIRE) -- The "Asia-Pacific Heating Equipment Market: Focus on Application, Product Type, Fuel Type, and Country - Analysis and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific heating equipment market is projected to reach $95.85 billion by 2033 from $48.91 billion in 2023, growing at a CAGR of 6.96% during the forecast period 2023-2033
The worldwide trend toward sustainability is influencing the APAC heating equipment market more and more, spurring investment in cutting-edge heating solutions. This encompasses both the increasing use of alternative technologies like heat pumps and solar heating as well as improvements to more conventional systems like boilers and furnaces. Regulations and incentives are being developed throughout the region to promote the use of high-efficiency heating systems as a result of the emphasis on environmental sustainability and energy efficiency.
Modern heating systems are becoming more and more necessary in major APAC economies like China, India, Japan, and South Korea due to rapid urbanization, industrial growth, and increased energy consumption. To encourage the use of energy-efficient heating solutions, governments throughout the region are putting strict laws and incentives into place. Initiatives such as Japan's energy-efficiency subsidies and China's Renewable Energy Law promote the adoption of low-emission heating solutions.
APAC's heating equipment market is also expanding as a result of the rise in smart city efforts and the construction of green buildings. Modern heating systems will likely be adopted more quickly as the region shifts to sustainable energy use, making the APAC heating equipment market a major contributor to the worldwide shift to sustainable energy solutions.
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different applications of the heating equipment products available in the market, which is poised for significant expansion with ongoing technological advancements, increased investments, and growing awareness of sustainable heating equipment solutions. Therefore, the heating equipment business is a high-investment and high-revenue generating model.
Competitive Strategy: The key players in the Asia-Pacific heating equipment market analyzed and profiled in the study include heating equipment manufacturers. Additionally, a comprehensive competitive landscape such as partnerships, agreements, and collaborations are expected to aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and heating equipment market penetration.
Some of the prominent names in this market are:
- DAIKIN INDUSTRIES, Ltd.
- LG Electronics
- SAMSUNG ELECTRONICS CO., LTD.
- Hitachi, Ltd.
- FUJITSU GENERAL
- Midea Group
- Mitsubishi Electric Corporation
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 74 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $48.91 Billion |
| Forecasted Market Value (USD) by 2033 | $95.85 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Asia Pacific |
Key Topics Covered:
1 Markets
1.1 Trends: Current and Future Impact Assessment
1.1.1 Trends: Overview
1.1.2 Rising Focus on IoT- Enabled Heating Equipment Market
1.1.3 Focus on Energy Efficiency
1.2 Supply Chain Overview
1.2.1 Value Chain Analysis
1.2.2 Market Map
1.3 Research and Development Review
1.3.1 Patent Filing Trend (by Country, by Year)
1.4 Regulatory Landscape
1.5 Market Dynamics: Overview
1.5.1 Market Drivers
1.5.1.1 Rapid Expansion of Global Construction Projects
1.5.1.2 Environmental Consequences of the Greenhouse Effect
1.5.1.3 Incorporation of Renewable Energy Sources
1.5.2 Market Restraints
1.5.2.1 High Initial Capital Expenditure
1.5.2.2 Fluctuations in Energy Costs
1.5.3 Market Opportunities
1.5.3.1 Investment in Sustainable and Energy Efficient Heating Equipment Products
1.5.3.2 Rise in Partnerships and Collaborations Globally
2 Regions
2.1 Regional Summary
2.2 Drivers and Restraints
2.3 Asia-Pacific
2.3.1 Regional Overview
2.3.2 Driving Factors for Market Growth
2.3.3 Factors Challenging the Market
2.3.4 Application
2.3.5 Product
2.3.6 Asia-Pacific (by Country)
2.3.6.1 China
2.3.6.2 India
2.3.6.3 Japan
2.3.6.4 South Korea
2.3.6.5 Rest-of-Asia-Pacific
3 Markets - Competitive Benchmarking & Company Profiles
3.1 Next Frontiers
3.2 Geographic Assessment
3.2.1 Overview
3.2.2 Top Products/Product Portfolio
3.2.3 Top Competitors
3.2.4 Target Customers
3.2.5 Key Personnel
3.2.6 Analyst View
3.2.7 Market Share, 2022
4 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/de6zbh
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