New York, October 26, 2021 (GLOBE NEWSWIRE) – Unit heaters market: key information
According to our new research study on “Unit heaters market Size, Share and Forecast to 2028 – COVID-19 Impact and Global Analysis by Installation (Horizontal Unit Heater, Vertical Unit Heater and Hanging Unit Heater), Application (Commercial, Industrial and Residential) and Product Type (Gas, Hydronic, Electric and others) “, the market is expected to reach US $ 5,417.1 million by 2028, compared to US $ 3,740.3 million in 2021; it is expected to grow at a CAGR of 5.4% during the period of forecast from 2021 to 2028.
Heating Appliances Market: Competitive Landscape and Key Developments
Airtherm; Armstrong International Inc; Morris beacon; Dunham-Bush Limited; KING ELECTRIC MFG. CO; Kroll Energy GmbH; Reznor CVC; Thermon Industries, Inc .; Trane; and Turbonics, Inc. are among the major players featured in this market research. In addition to these players, several other essential market players have also been studied and analyzed to get a holistic view of the global Fan Heaters market and its ecosystem.
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In 2021, Reznor HVAC has redesigned its range of all product unit heaters. Redesigned fan heaters include changes in technological advancements, changes in the direction of airflow, and aesthetic design appeal. The integration of these features helps end users to enjoy reliability, convenience, and safe and secure operation.
The leading manufacturers of fan heaters are focused on offering energy efficient products that provide optimal heating, have low maintenance and operating costs, and operate with low emission levels. For example, Modine Manufacturing Company launched a new air heater named Affinity, which features a dual heat exchanger, energy extractor, and separate combustion chamber, thus emitting fewer levels of CO2 and increasing overall heating efficiency.
Growing demand for low noise operations, increasing integration of electric heaters with solar panels, increasing use of sensors to automatically regulate temperature, and high efficiency at low cost are the factors driving the global heat sink market. unitary. In addition, increasing demand for energy efficient equipment in food and beverage, manufacturing, chemicals, pharmaceuticals, oil and gas, and other sectors is driving the growth of the market. air heaters. According to the US Energy Information Administration (EIA), the manufacturing sector accounted for about 77% of industrial energy use. In addition, the increasing replacement and maintenance of fan heaters is driving the demand for energy efficient fan heaters around the world.
At the end of the first quarter and throughout the second quarter of 2020, the majority of manufacturing facilities around the world were operating with minimal staff or temporarily halted manufacturing, and the supply chain for components and rooms has been disrupted due to the COVID-19 pandemic. In addition, construction activities declined in 2020 and the trend is expected to prevail in 2021. However, construction of health and public safety facilities increased in 2020. Industries that install higher volumes of HVAC systems have been affected to varying degrees of degree by the COVID-19 pandemic. Hotels, the hospitality industry and restaurants have struggled over concerns over limiting the spread of the virus, even after they reopened. Besides the commercial sector, the residential HVAC system industry has also seen a decline in sales. In addition, as the economies react, restrictive measures are lifted and vaccination campaigns have started, the fan heater market is expected to accelerate.
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The flourishing of the commercial sector to stimulate the growth of the unit heaters market:
The commercial sector includes buildings, shopping malls, hotels, restaurants, motels, hospitals, commercial facilities and community places. It plays an essential role in the growth of GDP in developing and developed countries. For example, in the recent report released by the Department of Business, Energy, and Industrial Strategy, the real estate sector contributed 71% of the UK’s total GDP in 2019, registering an annual growth rate of 1.4%. According to the US Department of Commerce, the commercial sector is among the top three contributors to the country’s GDP in 2021, contributing 3.8% of the country’s GDP. In addition, business investment in the United States is increased by 3% from 2020 to 2021.
According to the recent report published by Canadian Real Estate Wealth, the Canadian real estate sector invested US $ 36.9 billion in 2020, which is US $ 3.7 billion more than the investments made in 2019. The European Union focuses on the development of new clinics. and hospitals in 2021-2027. In addition, there has been an increase in the number of hospitals due to the high number of COVID-19 patients and increased government spending for more giant hospitals for COVID care in 2020 and 2021 across the world. . These hospitals require a constant heat flow for various operations such as cleaning, sterilization of drinking water and disinfection. Additionally, cold regions such as Europe and North America require high heating output in commercial buildings during winters. These factors are boosting the demand for air heaters leading to the growth of the air heaters market.
Unit heaters market: installation overview
On the basis of installation, the unit heaters market is segmented into horizontal unit heaters, vertical unit heaters and hanging unit heaters. The horizontal unit heaters segment dominated the unit heaters market in 2020. Horizontal unit heaters are used in applications where there is a low ceiling area. These radiators are designed to provide upward or downward airflow, and an air deflector controls the direction of the flow. Many small industries prefer horizontal unit heaters due to their low weight and sweeping effect outside the walls. These heating elements are sufficient to heat the small area and are directed towards the walls to provide a wiping result. The airflow from each unit supports the other unit to maximize the flow of warm air into the room. These heaters are available in different sizes, shapes and materials. For example, Trane offers a specially designed horizontal air heater with a stamped venturi that ensures even air distribution. Horizontal fan heaters are mainly used in commercial and industrial heating due to their ability to adjust the heat duration (short or long) and increase or decrease the mounting height. The main manufacturers are focused on providing low temperature horizontal fan heaters with the latest technology, specially designed for small areas. Modine Manufacturing launched its compact and lightweight low temperature hydronic water heaters with small motors and fans and high efficiency 4 row coils.
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Key Questions To Ask For The Unit Heaters Market:
- What are the reasons for the growth of the heating devices market?
- What are the market opportunities for the Heating Appliances market?
- Which installation segment is expected to dominate the market during the forecast period?
- Which application dominated the unit heaters market during the forecast period?
- Who is the key player in the unit heaters market?
- Which region dominated the heating appliances market during the forecast period?
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