Global Hot Water and Heating Equipment Market � Analysis By Product Type, End-User, By Region, By Country (2022 Edition): Market Insights and Forecast with Impact of COVID-19 (2022-2027)
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Executive Summary
The Global Hot Water and Heating Equipment Market was valued at USD 50.2 Billion in the year 2021. With the increased disposable income in highly populated countries such as China, Japan, and India, the adoption of Furnaces is high. The advancements in Hot Water and Heating Equipment and increased use of electronics devices drive the Hot Water and Heating Equipment market. Furthermore, the increasing penetration of Hot Water and Heating Equipment in Furnaces and Heat Pumps and the Residential sector will further propel the market in the coming years. Factors such as the higher concentration of OEMs and ODMs across industries, including consumers and Services in the APAC region will significantly drive Hot Water and Heating Equipment market growth in subsequent years.
The Heat Pump product type of Hot Water and Heating Equipment in the Market witnessed growth at a noteworthy rate over the past few years and is expected in the forecast period due to the imperative role being played because of the factors such as the higher concentration of heating equipment manufacturing companies. During 2022-2027, Hot Water and Heating Equipment Market is anticipated to grow at an increased rate of intensifying government regulations in various parts of the world.
The Residential sector of Hot Water and Heating Equipment is expected to hold a larger market share of the Hot Water and Heating Equipment Market than Insourcing in the segment. Moreover, increasing demand for new comfortability and security in customers in the world has been anticipated to propel thrust in the demand of Hot Water and Heating Equipment in the future.
Amongst the regions, the Asia Pacific accounts for a large regional share in the global Hot Water and Heating Equipment market in 2027. Key factors driving the robust growth rate of the Asia Pacific region include rising urban population, disposable income, increasing electronic technologies activities in different countries, the rise in the demand to improve quality by eliminating errors and reducing variability for better comfortability while carrying and storing the good in a storage place is a major factor driving the Hot Water and Heating Equipment market growth in the Asia Pacific Region.
Scope of the Report
� The report presents the analysis of the Hot Water and Heating Equipment Market for the historical period of 2017-2021 and the forecast period of 2022-2027.
� The report analyses the Hot Water and Heating Equipment Market by Value (USD Million).
� The report analyses the Hot Water and Heating Equipment Market By Product Type (Heat Pumps, Unitary Heaters, Furnaces, Others).
� The report analyses the Hot Water and Heating Equipment Market By End User Type (Residential, Non-Residential).
� The Global Hot Water and Heating Equipment Market has been analyzed By Region (America, Europe, Asia Pacific, Middle East, and Africa) and By Country (United States, Canada Mexico, Germany, United Kingdom, France, Italy, China, Japan, India).
� The key insights of the report have been presented through the frameworks of SWOT and Porter�s Five Forces Analysis. Also, the attractiveness of the market has been presented by Service, Type, Region, and Country.
� Also, the major opportunities, trends, drivers, and challenges of the industry have been analyzed in the report.
� The report tracks competitive developments, strategies, mergers and acquisitions, and new Type development. The companies analyzed in the report include: AO Smith, Bosch, Ariston Thermo, Rinnai Corporation, Whirlpool Corporation, Noritz Corporation, Bajaj Electricals, Haier, Lennox International, Havells India Ltd.
Key Target Audience
� Hot Water and Heating Equipment Manufacturers and Vendors
� Consulting and Advisory Firms
� Government and Policy Makers
� Regulatory Authorities
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