An increase in continuous and stable energy demands from industries in developing economies, such as China, India, Japan, and Brazil, boosts the market growth.
PORTLAND, OR, UNITED STATES, September 26, 2021 /EINPresswire.com/ — Growth of the industrial heating equipment market is majorly driven by rise in industrialization and urbanization in emerging countries of LAMEA and Asia-Pacific region. In addition, prominent countries such as China, the U.S. and Germany, have a large scale of manufacturing plants that utilize industrial heating equipment.
The industrial heating equipment market was valued at $36.9 billion in 2020, and is expected to reach $64.1 billion by 2030, registering a CAGR of 5.8% from 2021 to 2030.
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The industrial heating equipment market consists of revenue generated by sales of boilers, furnaces and heat pumps in industries such as oil & gas, metal & mining, chemical and other industries. In addition, these industrial heating equipment requires timely maintenance. Revenue generated by sales of spare parts and maintenances is also included in the industrial heating equipment market.
Top 10 Key Market Players
Easco Boiler Corp.
Emerson Electric Co.
Ingersoll Rand Inc.
Johnson Controls, Inc.
Lennox International Inc.
McKenna Boiler Works Inc.
The Danfoss Group
The report provides an extensive analysis of the current and emerging industrial heating equipment market trends and dynamics.
In-depth industrial heating equipment market analysis is conducted by estimations for the key segments between 2021 and 2030.
Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.
The market forecast analysis from 2021 to 2030 is included in the report.
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Key Market Segments
By Product Type
By Fuel Type
By End-user Industry
Oil & gas
Metal & mining
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Source: EIN Presswire