Unit Heater Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Unit Heater Market Trends and Forecast

The future of the global unit heater market looks promising with opportunities in various applications, such as commercial, industrial, and residential. The global unit heater market is expected to reach an estimated $5.3 billion by 2028 with a CAGR of 5% from 2023 to 2028. The major drivers for this market are growing need for low-cost operations and increasing demand for energy-efficient unit equipment in various applications, such as food and beverage, chemical, manufacturing, and oil and gas industries.

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Unit Heater Market by Segment

The study includes trends and forecast for the global unit heater market by installation, application, product type, and region, as follows:

Unit Heater Market by Installation [Value ($B) Shipment Analysis from 2017 to 2028]:

• Horizontal Unit Heaters
• Vertical Unit Heaters
• Suspended Unit Heaters

Unit Heater Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

• Commercial
• Industrial
• Residential

Unit Heater Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:

• Gas Fired
• Hydronic
• Electric
• Others

Unit Heater Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Unit Heaters Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, unit heater companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the unit heaters companies profiled in this report include:

• Airtherm
• Armstrong International
• Beacon Morris
• Dunham-Bush
• KING ELECTRICAL
• Kroll Energy GmbH
• Reznor HVAC
• Thermon Industries
• Trane
• Turbonics

Unit Heater Market Insights

• Lucintel forecast that hydronic will witness the highest growth over the forecast period due to growing demand for energy-efficient heating solutions in the construction industry.
• Commercial is expected to remain the largest application segment due to the increasing focus towards energy-efficient commercial infrastructure and significant growth in the commercial sector.
• North America will remain the largest region due to increasing construction activities, growing penetration of HVAC systems, and favorable government policies in the region.

Features of the Unit Heater Market

• Market Size Estimates: Unit heater market size estimation in terms of value ($B)
• Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Unit heater market size by various segments, such as by installation, application, product type, and region
• Regional Analysis: Unit heater market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different installations, applications, product types, and regions for the unit heater market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the unit heater market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

• Q1. What is the unit heater market size?
• Answer: The global unit heater market is expected to reach an estimated $5.3 billion by 2028.
• Q2. What is the growth forecast for unit heater market?
• Answer: The global unit heater market is expected to grow with a CAGR of 5% from 2023 to 2028.
• Q3. What are the major drivers influencing the growth of the unit heater market?
• Answer: The major drivers for this market are growing need for low-cost operations and increasing demand for energy-efficient unit equipment in various applications, such as food and beverage, chemical, manufacturing, and oil and gas industries.
• Q4. What are the major segments for unit heater market?
• Answer: The future of the unit heater market looks promising with opportunities in various applications, such as commercial, industrial, and residential.
• Q5. Who are the key unit heater companies?
• Answer: Some of the key unit heater companies are as follows:
  • Airtherm
  • Armstrong International Inc.
  • Beacon Morris
  • Dunham-Bush Limited
  • KING ELECTRICAL MFG. CO
  • Kroll Energy GmbH
  • Reznor HVAC
  • Thermon Industries, Inc.
  • Trane
  • Turbonics
• Q6. Which unit heaters segment will be the largest in future?
• Answer:Lucintel forecasts that hydronic will witness the highest growth over the forecast period due to growing demand for energy-efficient heating solutions in the construction industry.
• Q7. In unit heater market, which region is expected to be the largest in next 5 years?
• Answer: North America will remain the largest region due to increasing construction activities, growing penetration of HVAC systems, and favorable government policies in the region.
• Q8. Do we receive customization in this report?
• Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1.What are some of the most promising, high-growth opportunities for the global unit heater market by installation (horizontal unit heaters, vertical unit heaters, and suspended unit heaters), application (commercial, industrial, and residential), product type (gas fired, hydronic, electric, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?