Industrial & Residential Heating Market Size By Wood & Pellet Heating (Fireplaces, Catalytic Wood Stoves, Masonry Heaters, Boilers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026

Industrial & Residential Heating Market Size

Industrial & Residential Heating Market size was valued at over USD 17 billion in 2019 and annual installation is anticipated to exceed 1 million units by 2026.

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Imagine your home as a cozy haven, where the temperature is just right, even on the chilliest days. That's thanks to your heating system, the unsung hero that keeps your living space comfortable and warm. It's like a master chef for your indoor climate, using thermal energy to maintain a perfect temperature. Heating systems can be found in homes, offices, and other buildings. Sometimes, they're part of a bigger system called HVAC, which also includes ventilation and air conditioning. There are two main types of heating systemsdistributed systems and central heating systems. Think of a distributed system as a team of workers spread throughout a room, each generating heat individually. On the other hand, a central heating system is like a powerhouse, producing heat in one central location and distributing it throughout the building. One common way to generate heat in a central heating system is by burning wood or fuel. That's why you'll often find wood stoves or pellet boilers in these systems. The cost of setting up such a system can vary from $13,000 to $21,000, depending on the design and how you plan to use it. Experts have studied the heating industry closely and have analyzed trends across different countries and regions. They've also considered data from reliable sources like the IEA, DOE, and EPA. So, you can trust that the estimates and forecasts for the heating market are based on solid information.

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Industrial & Residential Heating Market Analysis

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Increasing adoption of sustainable and smart technologies along with growing government initiatives to reduce carbon emission will foster the industrial & residential heating market size. Rising demand for space heating on account of changing surface temperature range will stimulate the business growth. Extreme climatic conditions with high temperatures along with upsurge in urban population will further propel the industry outlook.

Stringent regulatory norms toward energy security along with increasing government focus toward sustainable and smart building technologies will stimulate the industrial & residential heating market demand. Reduced upfront cost and high standard of operations and maintenance are some of the key parameters which will drive the business growth. Further, technological advancement in product design and development along with continuous R&D activities have also instituted favorable business scenario for the industry players.

Stringent regulatory directives pertaining to the soaring carbon emission levels along with rising concerns toward an energy efficient environment will stimulate the demand for heating systems globally. Adoption of sustainable and efficient residential heating systems to achieve the energy conservation plans coupled with the ongoing development of green building technologies will propel the industry outlook. In 2016 the U.S. EPA, launched Central Pollution Standards under the Clean Air Act to monitor and control the carbon and sulphur emission across the nation.

Increasing demand for heating & cooling and the ongoing penetration of intermittent renewable energy supply are also raising questions about grid reliability. Extreme climatic conditions on account of rising surface temperature range across the Europe and South Asian nations has led to favorable business scenario for the industry players. Shifting trends toward the integration of an energy efficient heating mechanism will further stimulate the business outlook. Moreover, significant investment toward widespread deployment of heating systems in residential and industrial establishments will positively impact the business growth.

As more and more people in developing countries are living better, cities are growing quickly and industries are expanding. This is going to make the heating market for homes and businesses around the world much bigger. Governments are also putting money into infrastructure and making rules that say buildings need to be built in a way that doesn't hurt the environment. This will help the heating industry grow even more. In 2017, the United Nations said that more than 55% of the people in the world lived in cities. By 2050, that number is expected to go up to 68%. Heating systems are a good choice because they can be made cheaper if they are made in large quantities, they don't lose much heat, they make the air cleaner, and they can be found easily. This makes them a better choice than other ways to heat homes and businesses.

Wood or pellet fired boiler market share is projected to witness a marginal growth over the forecast timeline on account of increasing electricity demand and rapid industrialization across emerging economies. The expansion of existing residential and industrial facilities along with the ease of product availability will stimulate the product penetration over the forecast timeframe. The demand for efficient steam and hot water generation technologies across cold regions will further drive the business growth.

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The industry has gained sheer growth in the demand for sustainable energy sources subject to the renewable integration targets abided by 195 nations in alignment with the 2015 UN Climate Change Conference. The regulators have implemented favorable policies including tax credits, renewable heat incentives, subsidies, and financial assistance to promote the deployment of clean & efficient energy sources. Furthermore, certain policy enactments in reference to renewable technology adoption will energize the business outlook.

Growing concerns pertaining to harmful GHG emissions have raised the demand for clean & sustainable energy systems across Europe. Ongoing deployment and adoption of sustainable systems to mitigate adverse environmental impacts will stimulate the wood & pellet fired heating appliance installation. The incessant government efforts to reduce carbon emissions have substantially raised the funding toward the deployment of renewable energy technology across the region.

Industrial & Residential Heating Market Share

Eminent leaders are focusing towards the development of strong distribution channels on account of strategic mergers & acquisitions will leading players to increase their share across the industrial & residential heating industry outlook. Key market participants operating across the industry comprise of

• Tulikivi
• Tiileri
• Masonry Heater Builder Ltd.
• FeuerWerkstatt
• Ecco Stove
• Hearth + Timber
• Stove Master
• American Masonry Heaters
• Jotul
• Babcock and Wilcox Enterprises, Inc.
• Hurst Boiler and Welding Co, Inc.
• Forbes Marshall Private Limited
• Mitsubishi Hitachi Power Systems
• NIBE
• Ariston Thermo 

Industrial & residential heating market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units, and ‘USD” from 2015 to 2026, for the following segments

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By Wood & Pellet Heating

• Fireplaces
• Catalytic Wood Stoves
• Masonry Heaters
• Boilers

The above information has been provided for the following regions and country

• North America
  • U.S.
  • Canada
• Europe
  • Denmark
  • Finland
  • Germany
  • Italy
  • Netherlands
  • Russia
  • Spain
  • UK
  • Ukraine
• Asia Pacific
  • China
  • Japan
  • South Korea
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • Oman
  • Kuwait
  • Bahrain
• Latin America
  • Brazil