난방 장비 시장 규모, 점유율, 동향, 예측 : 제품, 용도, 지역별(2025-2033년)

The global heating equipment market size was valued at USD 43.74 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 63.28 Billion by 2033, exhibiting a CAGR of 3.98% during 2025-2033. Europe currently dominates the market, holding a significant market share of around 40.0% in 2024. The market is driven by the increasing demand for energy-efficient equipment due to increased construction activity in residential and commercial sectors. Moreover, enhanced awareness regarding sustainability, combined with advancements in technology is driving market growth. Furthermore, the requirement for efficient heating systems in cold climates, and government support for green energy implementation is further augmenting heating equipment market share.

The market is driven by the growing emphasis on energy efficiency and environmental sustainability. Additionally, continual technological advancements, such as the integration of smart technologies for enhanced control, are fueling demand. Moreover, increased construction activities, particularly in residential and commercial spaces, are contributing to the market expansion. Besides this, the implementation of supportive government initiatives, offering incentives for energy-efficient systems, further supports market growth. According to an industry report, the Indian Gross National Disposable Income (GNDI) for the year 2023-24 is estimated at INR 305.94 Lakh Crore (about USD 36,712,800 Million), reflecting a growth of 11.9%. This inflating disposable income in emerging economies is encouraging consumers to invest in modern heating solutions, which is a significant growth catalyst for the market.

In the United States, the market is experiencing significant growth due to the shift toward energy-efficient and environmentally friendly heating systems, aligning with national sustainability goals. Unpredictable and colder climates across various regions consistently drive the demand for reliable heating systems. For example, in 2024, a cold snap in mid-January impacted much of the Southern Region and the United States. Snow, ice, and exceptionally low temperatures caused 182 stations in every state except Louisiana to report sub-zero temperatures between January 14th and January 18th. Events like these highlight the growing need for dependable heating solutions, reinforcing the market demand for efficient and durable systems. In addition to this, regulatory support, such as tax incentives for energy-efficient installations, is a critical factor in encouraging the adoption of advanced heating technologies.

Heating Equipment Market Trends:

Increasing Urbanization and Industrialization

Rapid urbanization and industrialization are the key drivers propelling the development of the market. As per the WHO reports, over 55% of the world's population is now based in urban locations, which is likely to increase to 68% by the year 2050. With expanding cities and developing industries, the demand for efficient and dependable heating products grows substantially. Urban locations, with their high-density residential and commercial areas, need efficient heating equipment for comfort and security. This, in turn, is providing a boost to heating equipment market growth. Additionally, industrial processes also depend on heat for production and manufacturing and thus require heavy-duty heating equipment. The ongoing migration of populations to urban centers in emerging economies further fuels market demand. Moreover, industrial growth in these regions requires large-scale heating solutions, making this sector a lucrative market for heating equipment manufacturers.

Continual Technological Advancements

The integration of renewable energy sources into heating systems is a significant factor accelerating market expansion. In line with this, advancements in energy efficiency, reduction of emissions, and efficiency in heating are major drivers facilitating the growth of the market. According to the IEA, heat pumps can reduce global CO2 emissions by at least 500 million tonnes by 2030, roughly equivalent to the current yearly emissions from all cars across Europe. Companies are concentrating on making heating systems use less energy, thus lowering costs and environmental impact. Apart from this, continual developments in the field of materials science are giving rise to heating equipment that is less maintenance-intensive and longer-lasting, which is further enhancing the heating equipment market outlook. Additionally, the inclusion of smart technology within heating systems to make them remote-control and automated-friendly is increasing the comfort and efficiency of these systems.

Growing Awareness of Energy Conservation

The increasing awareness regarding energy conservation is an important factor fueling the market expansion. Consumers and businesses are becoming more conscious of their energy usage and its impact on the environment. An industry report shows 68% of building products companies now offer sustainable solutions, with nearly 90% generating revenue from them, a steady rise from 75% in 2020 to 85% in 2022. This awareness prompts a move toward energy-efficient heating solutions, which can dramatically reduce energy usage and lower utility expenses. Governments globally are enforcing policies and incentives to encourage energy conservation, further increasing the adoption of energy-efficient heating systems. Also, the growth of green building initiatives and sustainable construction is fueling the need for heating equipment that complies with green standards. With this, manufacturers are pressured to innovate and supply products that address these changing consumer needs and changing regulation demands.

Government Regulations and Initiatives

As per the heating equipment market research report, stringent government regulations and the implementation of favorable initiatives heavily influence the market growth. Policies aiming at lowering greenhouse gas emissions and addressing climate change are encouraging manufacturers to develop more energy-efficient and environmentally friendly heating systems. In the EU, buildings consume 40% of energy. Regulatory pressure, including the EU Renovation Wave and the updated 2024 Energy Performance OF Buildings Directive, aims to double renovation rates and mandates all new buildings to be net zero by 2030. Governments are enforcing stricter standards on energy consumption and emissions for heating systems, compelling companies to innovate and comply. Additionally, incentives such as tax rebates, grants, and subsidies for the adoption of green heating technologies are stimulating market growth. These government measures not only support environmental sustainability but also push technological innovation in the heating equipment industry, compelling manufacturers to invest in research and development (R&D) to comply with these new requirements and consumer demands.

Heating Equipment Industry Segmentation:

Analysis by Product:

• Heat Pumps
• Furnaces
• Boilers
• Unitary Heaters
• Others

Heat pumps lead the market with around 70.8% of market share in 2024. The segment is driven by the increasing emphasis on energy efficiency and environmental sustainability. Heat pumps are popular due to their capacity to offer heating and cooling while using less energy than traditional systems. Heat pumps, unlike traditional heating systems that use fossil fuels, transfer heat from external sources such air, water, or ground. This reduces greenhouse gas emissions and operational expenses. Increased concern regarding minimizing carbon footprints and increased energy costs is also adding to their popularity. Along with this, ongoing improvements in heat pump technology, including the use of smart controls and enhanced cold climate performance, are also fueling their growth in residential as well as commercial applications.

Analysis by Application:

• Residential
• Commercial
• Industrial

Residential leads the market with around 69.7% of market share in 2024. The segment is driven by the rising demand for convenient living conditions, particularly in areas with harsh weather conditions. Homeowners are looking for efficient, cost-saving, and eco-friendly heating systems. Hence, there is growth in the use of advanced heating systems such as smart thermostats and energy-efficient boilers. The increasing activity in residential building works, combined with heightened consumer concern regarding energy efficiency and a preference for eco-friendliness, also drives this segment further. Additionally, the inclusion of smart technology and IoT devices in residential heating enables users to control and monitor heating remotely, enhancing energy management and minimizing operational expenditure. Besides that, government schemes to install efficient heating systems within houses play a major role in the market situation in this market.

Regional Analysis:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

In 2024, Europe accounted for the largest market share of over 40.0%. The growing need for energy-efficient technology, strict EU legislation on emissions and energy consumption, and requirements for upgrading outdated infrastructure are key factors accelerating market expansion across the region. The cold climate in Europe requires effective heating, resulting in the uptake of sophisticated technologies such as heat pumps. Also, the push for digitalization in domestic settings, via smart thermostats and IoT-supported systems, is further increasing system popularity. Moreover, the emphasis on green building and sustainability in the region also enhances the market, pushing the transition toward renewable energy-based heating solutions. The ability of Europe to maintain a high standard of living also drives the demand for efficient, comfortable, and innovative heating solutions, placing it at the forefront of the market for top-quality, green-friendly products.

Key Regional Takeaways:

United States Heating Equipment Market Analysis

In 2024, the United States holds a substantial share of around 83.20% of the market share in North America. The market is primarily driven by the rapid implementation of strict energy standards, driving upgrades to high-performance systems in residential and commercial buildings. In line with this, the growing adoption of smart home ecosystems integrating intelligent heating controls is supporting market growth. According to an industry report, 45% of U.S. households with internet access own at least one smart home device, while 18% have six or more such devices. Furthermore, rising urban development in colder states, elevating demand for space and water heating solutions, is strengthening market demand. The increasing availability of federal and state tax credits for ENERGY STAR-rated equipment, encouraging faster adoption, is fostering market expansion. The IRS's Energy Efficient Home Improvement Credit offers homeowners up to USD 3,200 annually through 2032 for energy-efficient home improvements, including USD 2,000 for heat pumps and USD 150 for energy audits. Similarly, the growing need for retrofitting and system replacement in aging infrastructure, reflecting aging building stock, is influencing purchasing behavior. Additionally, ongoing innovations in dual-fuel and hybrid systems promoting energy flexibility and cost savings are accelerating product penetration. Moreover, expanding district heating infrastructure across urban centers, supporting large-scale deployment, is shaping the heating equipment market trends.

Europe Heating Equipment Market Analysis

The market in Europe is experiencing growth due to the region's decarbonization agenda accelerating the transition toward low-emission technologies. In accordance with this, rising residential heat pump installations supported by government subsidies are widening the market appeal. According to EHPA, in 2023, 3.02 million heat pumps were sold across 21 European nations, bringing the total to 24 million units. The sector includes over 250 manufacturing sites, represents EUR 7 billion in investment (2022-2025), and offsets emissions equal to removing 7.5 million cars. Similarly, the expanding electrification of heating systems in tandem with renewable integration is reshaping equipment demand across residential and commercial sectors. Furthermore, increasing winter variability, reinforcing the need for resilient, efficient heating infrastructure, is fueling market expansion. Additionally, supportive cross-border energy efficiency programs under EU frameworks promoting standardized technology adoption are enhancing regional alignment. Likewise, the rise in building renovation projects targeting energy upgrades across aging housing stock is bolstering demand for modern heating equipment. Besides this, heightened consumer focus on lifecycle emissions, encouraging the adoption of sustainable heating solutions, is creating favorable market conditions.

Asia Pacific Heating Equipment Market Analysis

The market in Asia Pacific is advancing, attributed to rapid urbanization and infrastructure growth across emerging economies. In addition to this, inflating disposable incomes and a growing middle class are increasing demand for comfort-driven appliances, which is encouraging higher product adoption. Similarly, the heightened emphasis on energy efficiency in densely populated cities, with heating equipment supporting sustainable space management, is enhancing market appeal. The growing integration of HVAC systems in commercial and industrial buildings, streamlining heating solutions, is driving market development. Moreover, supportive policy incentives promoting clean energy transitions, encouraging adoption of low-emission heating technologies, are escalating product penetration. Apart from this, increased regional commitment to global climate targets, pushing investment in eco-friendly heating solutions, is providing an impetus to the market. As such, in 2024, the World Bank authorized a USD 300 Million loan to aid renewable and low-carbon heating in China's Shaanxi province, aiming to reduce emissions, implement pricing reforms, and advance China's carbon neutrality goals by 2060.

Latin America Heating Equipment Market Analysis

In Latin America, the market is gaining momentum due to increasing demand in high-altitude cities, where colder climates necessitate efficient indoor heating solutions. Similarly, rising investments in tourism and hospitality infrastructure across cooler regions are fueling market development. In January 2025, Argentina's Ministry of Tourism, Environment, and Sport announced plans to open 70 new hotels across the country by the end of 2026. Furthermore, heightened awareness of energy efficiency and the cost advantages of advanced technologies encouraging the transition from conventional heating methods, is propelling market growth. Moreover, government-led rural electrification initiatives expanding access to reliable heating solutions in underserved communities are broadening market scope across residential and institutional applications. The World Bank approved a USD 200 Million loan for Bahia's infrastructure program, aiming to install 43 MW of solar on 161 public buildings, and improve electricity access for 30,000 rural customers by 2027.

Middle East and Africa Heating Equipment Market Analysis

The market in the Middle East and Africa is experiencing growth influenced by increasing demand in high-altitude and desert regions requiring efficient indoor climate control. Furthermore, ongoing smart city initiatives and energy-efficient building projects integrating advanced HVAC systems are accelerating product uptake across urban developments. According to Emirates Green Building Council (EGBC), energy-efficient buildings in the UAE can reduce energy use by 20-30%, with the Dubai Electricity and Water Authority (DEWA) projecting annual savings of up to AED 4 Billion (abut USD 1.09 Billion) by 2030 for green-compliant properties. Additionally, rising investments in healthcare and education infrastructure across nations like Saudi Arabia, the UAE, and South Africa are augmenting heating system installations in institutional settings. Besides this, the expansion of industrial operations in sectors such as mining and manufacturing necessitating temperature-regulated environments, is positively influencing the market.

Competitive Landscape:

The major players in the market are actively engaging in various strategic activities to consolidate their market position and address the changing demands of the industry. They are investing significantly in research and development (R&D) to innovate and deliver more energy-efficient, eco-friendly, and technologically sophisticated heating solutions. These firms are also looking to broaden their product offerings to meet a wide variety of applications, ranging from residential to industrial requirements. Strategic alliances, mergers, and acquisitions are prevalent, enabling these players to take advantage of synergies, increase their global presence, and strengthen their market position. As per the heating equipment market forecast, the incorporation of smart technology and IoT features in products will be able to drive market need by providing consumers with sophisticated features like remote monitoring and control. Aside from this, firms are engaged in establishing long-term customer relations, focusing on customer service and post-sales support. Sustainability and compliance with regulatory requirements are also top priorities, as leading players in the industry align their operations with international environmental objectives and regulations.

The report provides a comprehensive analysis of the competitive landscape in the heating equipment market with detailed profiles of all major companies, including

• Daikin Industries Ltd.
• Emerson Electric Co.
• Honeywell International Inc.
• Johnson Controls
• Lennox International Inc.
• Mitsubishi Electric Corporation
• Panasonic Corporation
• Robert Bosch GmbH
• Schneider Electric SE
• Siemens AG
• The Danfoss Group

Key Questions Answered in This Report

• 1.How big is the heating equipment market?
• 2.What is the future outlook of the heating equipment market?
• 3.What are the key factors driving the heating equipment market?
• 4.Which region accounts for the largest heating equipment market?
• 5.Which are the leading companies in the global heating equipment market?

Table of Contents

1 Preface

2 Scope and Methodology

• 2.1 Objectives of the Study
• 2.2 Stakeholders
• 2.3 Data Sources
  • 2.3.1 Primary Sources
  • 2.3.2 Secondary Sources
• 2.4 Market Estimation
  • 2.4.1 Bottom-Up Approach
  • 2.4.2 Top-Down Approach
• 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

• 4.1 Overview
• 4.2 Key Industry Trends

5 Global Heating Equipment Market

• 5.1 Market Overview
• 5.2 Market Performance
• 5.3 Impact of COVID-19
• 5.4 Market Forecast

6 Market Breakup by Product

• 6.1 Heat Pumps
  • 6.1.1 Market Trends
  • 6.1.2 Market Forecast
• 6.2 Furnaces
  • 6.2.1 Market Trends
  • 6.2.2 Market Forecast
• 6.3 Boilers
  • 6.3.1 Market Trends
  • 6.3.2 Market Forecast
• 6.4 Unitary Heaters
  • 6.4.1 Market Trends
  • 6.4.2 Market Forecast
• 6.5 Others
  • 6.5.1 Market Trends
  • 6.5.2 Market Forecast

7 Market Breakup by Application

• 7.1 Residential
  • 7.1.1 Market Trends
  • 7.1.2 Market Forecast
• 7.2 Commercial
  • 7.2.1 Market Trends
  • 7.2.2 Market Forecast
• 7.3 Industrial
  • 7.3.1 Market Trends
  • 7.3.2 Market Forecast

8 Market Breakup by Region

• 8.1 North America
  • 8.1.1 United States
    • 8.1.1.1 Market Trends
    • 8.1.1.2 Market Forecast
  • 8.1.2 Canada
    • 8.1.2.1 Market Trends
    • 8.1.2.2 Market Forecast
• 8.2 Asia-Pacific
  • 8.2.1 China
    • 8.2.1.1 Market Trends
    • 8.2.1.2 Market Forecast
  • 8.2.2 Japan
    • 8.2.2.1 Market Trends
    • 8.2.2.2 Market Forecast
  • 8.2.3 India
    • 8.2.3.1 Market Trends
    • 8.2.3.2 Market Forecast
  • 8.2.4 South Korea
    • 8.2.4.1 Market Trends
    • 8.2.4.2 Market Forecast
  • 8.2.5 Australia
    • 8.2.5.1 Market Trends
    • 8.2.5.2 Market Forecast
  • 8.2.6 Indonesia
    • 8.2.6.1 Market Trends
    • 8.2.6.2 Market Forecast
  • 8.2.7 Others
    • 8.2.7.1 Market Trends
    • 8.2.7.2 Market Forecast
• 8.3 Europe
  • 8.3.1 Germany
    • 8.3.1.1 Market Trends
    • 8.3.1.2 Market Forecast
  • 8.3.2 France
    • 8.3.2.1 Market Trends
    • 8.3.2.2 Market Forecast
  • 8.3.3 United Kingdom
    • 8.3.3.1 Market Trends
    • 8.3.3.2 Market Forecast
  • 8.3.4 Italy
    • 8.3.4.1 Market Trends
    • 8.3.4.2 Market Forecast
  • 8.3.5 Spain
    • 8.3.5.1 Market Trends
    • 8.3.5.2 Market Forecast
  • 8.3.6 Russia
    • 8.3.6.1 Market Trends
    • 8.3.6.2 Market Forecast
  • 8.3.7 Others
    • 8.3.7.1 Market Trends
    • 8.3.7.2 Market Forecast
• 8.4 Latin America
  • 8.4.1 Brazil
    • 8.4.1.1 Market Trends
    • 8.4.1.2 Market Forecast
  • 8.4.2 Mexico
    • 8.4.2.1 Market Trends
    • 8.4.2.2 Market Forecast
  • 8.4.3 Others
    • 8.4.3.1 Market Trends
    • 8.4.3.2 Market Forecast
• 8.5 Middle East and Africa
  • 8.5.1 Market Trends
  • 8.5.2 Market Breakup by Country
  • 8.5.3 Market Forecast

9 SWOT Analysis

• 9.1 Overview
• 9.2 Strengths
• 9.3 Weaknesses
• 9.4 Opportunities
• 9.5 Threats

10 Value Chain Analysis

11 Porters Five Forces Analysis

• 11.1 Overview
• 11.2 Bargaining Power of Buyers
• 11.3 Bargaining Power of Suppliers
• 11.4 Degree of Competition
• 11.5 Threat of New Entrants
• 11.6 Threat of Substitutes

12 Price Analysis

13 Competitive Landscape

• 13.1 Market Structure
• 13.2 Key Players
• 13.3 Profiles of Key Players
  • 13.3.1 Daikin Industries Ltd.
    • 13.3.1.1 Company Overview
    • 13.3.1.2 Product Portfolio
    • 13.3.1.3 Financials
    • 13.3.1.4 SWOT Analysis
  • 13.3.2 Emerson Electric Co.
    • 13.3.2.1 Company Overview
    • 13.3.2.2 Product Portfolio
    • 13.3.2.3 Financials
    • 13.3.2.4 SWOT Analysis
  • 13.3.3 Honeywell International Inc.
    • 13.3.3.1 Company Overview
    • 13.3.3.2 Product Portfolio
    • 13.3.3.3 Financials
    • 13.3.3.4 SWOT Analysis
  • 13.3.4 Johnson Controls
    • 13.3.4.1 Company Overview
    • 13.3.4.2 Product Portfolio
    • 13.3.4.3 Financials
    • 13.3.4.4 SWOT Analysis
  • 13.3.5 Lennox International Inc.
    • 13.3.5.1 Company Overview
    • 13.3.5.2 Product Portfolio
    • 13.3.5.3 Financials
    • 13.3.5.4 SWOT Analysis
  • 13.3.6 Mitsubishi Electric Corporation
    • 13.3.6.1 Company Overview
    • 13.3.6.2 Product Portfolio
    • 13.3.6.3 Financials
    • 13.3.6.4 SWOT Analysis
  • 13.3.7 Panasonic Corporation
    • 13.3.7.1 Company Overview
    • 13.3.7.2 Product Portfolio
  • 13.3.8 Robert Bosch GmbH
    • 13.3.8.1 Company Overview
    • 13.3.8.2 Product Portfolio
    • 13.3.8.3 SWOT Analysis
  • 13.3.9 Schneider Electric SE
    • 13.3.9.1 Company Overview
    • 13.3.9.2 Product Portfolio
    • 13.3.9.3 Financials
    • 13.3.9.4 SWOT Analysis
  • 13.3.10 Siemens AG
    • 13.3.10.1 Company Overview
    • 13.3.10.2 Product Portfolio
    • 13.3.10.3 Financials
    • 13.3.10.4 SWOT Analysis
  • 13.3.11 The Danfoss Group
    • 13.3.11.1 Company Overview
    • 13.3.11.2 Product Portfolio
    • 13.3.11.3 SWOT Analysis