Asia Pacific Unit Heater Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Installation (Horizontal Unit Heater, Vertical Unit Heater, and Suspended Unit Heater), Application (Commercial, Industrial, and Residential), and Product Type (Gas Fired, Hydronic, Electric, and Others)
Market Introduction
The unit heater market in APAC is further segmented into India, Japan, Australia, China, South Korea, and the Rest of APAC. China, South Korea, and India are the leading HVAC manufacturing countries in the region. Rising disposable income in developing countries, especially in South Korea, India and China, is leading to a large client base for HVAC systems, including unit heaters, which is driving the market growth in the region. China is a leading manufacturing hub for unit heaters, while South Korea, Japan, and India are among significant contributors to the regional market growth. Various APAC countries are characterized by the mass production of HVAC systems required for residential, commercial, and industrial applications. Increasing number of manufacturing facilities in India and China owing to the availability of skilled human resources is driving the HVAC system adoption, which is subsequently bolstering the unit heaters market growth. Moreover, an increase in sales of HVAC systems for the commercial sector and advancements in HVAC sensors support the market growth in the region. Further, the presence of leading HVAC manufacturing companies such as Mitsubishi Electric Corporation and Johnson Controls–Hitachi Air Conditioning is augmenting the market growth. In October 2019, Johnson Controls–Hitachi Air Conditioning Company invested US$ 22.5 million in India to form a new global development manufacturing center for the production of HVAC systems for commercial and residential segments. Advances in design complements modern infrastructure is the major factor driving the growth of the APAC unit heater market.
The COVID-19 outbreak has resulted in a substantial financial loss in the APAC region. The governments in Asia Pacific countries have taken several crucial steps to contain the spread of virus by imposing lockdown and physical distancing norms, which has negatively affected the manufacturing sector. In addition, China has significantly higher number of HVAC system manufacturers. The lockdown measures and physical distancing norms imposed by the Chinese government during Q1 has reflected huge fall in supply of HVAC systems, which ultimately resulted in decimation in revenue generation in the unit heater market in 2020. However, during later period of Q4 of 2020, the region experienced increase in adoption of unit heaters as infection rate were reduced and economic activities started to gain pace.
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Market Overview and Dynamics
The unit heater market in APAC is expected to grow from US$ 923.11 million in 2021 to US$ 1,462.08 million by 2028; it is estimated to grow at a CAGR of 6.8% from 2021 to 2028. Major unit heater manufacturers are focusing on offering energy-efficient products that offer optimal heating, exhibit low maintenance and operational costs, and operate with decreased emission levels. For instance, Modine Manufacturing Company launched a new unit heater named Affinity, which features a dual heat exchanger, power exhauster, and separated combustion chamber, thereby emitting less CO2 levels and increases the overall heating efficiency. Rising demand for low-noise operations, integration of electric heaters with solar panels, growing use of sensors to automatically adjust the temperature, and elevated efficiency at lower costs are the factors driving the growth of the unit heaters market. The manufacturers are focusing on the implementation of new motor designs with low-noise fans, and the integration of thermostat, remote control option, and screen display in unit heaters. Further, increase in demand for energy-efficient equipment in the food & beverages, manufacturing, chemicals, pharmaceutical, oil & gas, and other sectors is boosting the unit heater market growth.
Key Market Segments
The APAC unit heater market is segmented on the basis of installation, application product type, and country. By installation, the APAC unit heater market is bifurcated into horizontal unit heater, vertical unit heater, and suspended unit heater. The horizontal unit heater segment dominated the market in 2020 and vertical unit heater segment is expected to be the fastest growing during the forecast period. On the basis of application, the unit heater market is segmented into commercial, industrial, and residential. The commercial segment dominated the market and industrial segment is expected to be the fastest growing during the forecast period. On the basis of product type, the unit heater market is segmented into gas fired, hydronic, electric, and others. The hydronic segment dominated the market and electric segment is expected to be the fastest growing during the forecast period.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the unit heater market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Armstrong International Inc.; Dunham-Bush Limited; Kroll Energy GmbH; Reznor HVAC; Thermon Industries, Inc.; and Trane are among others.
Reasons to buy report
- To understand the APAC unit heater market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC unit heater market
- Efficiently plan M&A and partnership deals in APAC unit heater market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC unit heater market
- Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.
APAC Unit Heater Market Segmentation
APAC Unit Heater Market -By Installation
- Horizontal Unit Heater
- Vertical Unit Heater
- Suspended Unit Heater
APAC Unit Heater Market -By Application
- Commercial
- Industrial
- Residential
APAC Unit Heater Market -By Product Type
- Gas Fired
- Hydronic
- Electric
- Others
APAC Unit Heater Market -By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Unit Heater Market -Company Profiles
- Armstrong International Inc.
- Dunham-Bush Limited
- Kroll Energy GmbH
- Reznor HVAC
- Thermon Industries, Inc.
- Trane
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 APAC Unit Heater Market – By Installation
1.3.2 APAC Unit Heater Market – By Application
1.3.3 APAC Unit Heater Market – By Product Type
1.3.4 APAC Unit Heater Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Unit Heater Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. APAC Unit Heater Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Surging Demand for Energy Efficient Unit Heaters
5.1.2 Booming Commercial Sector
5.2 Key Market Restraints
5.2.1 Carbon Emission Concerns
5.3 Key Market Opportunities
5.3.1 Advances In Design Complements Modern Infrastructure
5.4 Future Trends
5.4.1 Integration of Smart Technologies with Unit Heaters
5.5 Impact Analysis of Drivers and Restraints
6. Unit Heater Market – APAC Analysis
6.1 APAC Unit Heater Market Overview
6.2 Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
7. APAC Unit Heater Market Analysis – By Installation
7.1 Overview
7.2 Unit Heater Market, By Installation (2020 and 2028)
7.3 Horizontal Unit Heater
7.3.1 Overview
7.3.2 Horizontal Unit Heater: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Vertical Unit Heater
7.4.1 Overview
7.4.2 Vertical Unit Heater: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Suspended Unit Heater
7.5.1 Overview
7.5.2 Suspended Unit Heater: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
8. APAC Unit Heater Market Analysis – By Application
8.1 Overview
8.2 Unit Heater Market, By Application (2020 and 2028)
8.3 Commercial
8.3.1 Overview
8.3.2 Commercial: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Industrial
8.4.1 Overview
8.4.2 Industrial: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Residential
8.5.1 Overview
8.5.2 Residential: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
9. APAC Unit Heater Market Analysis – By Product Type
9.1 Overview
9.2 Unit Heater Market Breakdown, by Product Type, 2020 & 2028
9.3 Gas-Fired
9.3.1 Overview
9.3.2 Gas-Fired Market Revenue and Forecast to 2028 (US$ Million)
9.4 Hydronic
9.4.1 Overview
9.4.2 Hydronic Market Revenue and Forecast to 2028 (US$ Million)
9.5 Electric
9.5.1 Overview
9.5.2 Electric Market Revenue and Forecast to 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others Market Revenue and Forecast to 2028 (US$ Million)
10. APAC Unit Heater Market – Country Analysis
10.1 Overview
10.1.1 APAC: Unit Heater Market, by Key Country
10.1.1.1 Australia: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 Australia: Unit Heater Market, by Installation
10.1.1.1.2 Australia: Unit Heater Market, by Application
10.1.1.1.3 Australia: Unit Heater Market, by Product Type
10.1.1.2 China: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 China: Unit Heater Market, by Installation
10.1.1.2.2 China: Unit Heater Market, by Application
10.1.1.2.3 China: Unit Heater Market, by Product Type
10.1.1.3 India: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 India: Unit Heater Market, by Installation
10.1.1.3.2 India: Unit Heater Market, by Application
10.1.1.3.3 India: Unit Heater Market, by Product Type
10.1.1.4 Japan: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.1 Japan: Unit Heater Market, by Installation
10.1.1.4.2 Japan: Unit Heater Market, by Application
10.1.1.4.3 Japan: Unit Heater Market, by Product Type
10.1.1.5 South Korea: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.5.1 South Korea: Unit Heater Market, by Installation
10.1.1.5.2 South Korea: Unit Heater Market, by Application
10.1.1.5.3 South Korea: Unit Heater Market, by Product Type
10.1.1.6 Rest of APAC: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.6.1 Rest of APAC: Unit Heater Market, by Installation
10.1.1.6.2 Rest of APAC: Unit Heater Market, by Application
10.1.1.6.3 Rest of APAC: Unit Heater Market, by Product Type
11. APAC Unit Heaters Market - COVID-19 Impact Analysis
11.1 Overview
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
13. Company Profiles
13.1 Armstrong International Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Dunham-Bush Limited
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Reznor HVAC
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Trane
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Kroll Energy GmbH
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Thermon Industries, Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. APAC Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. APAC Unit Heater Market, by Country – Revenue and Forecast to 2028 (USD Million)
Table 3. Australia: Unit Heater Market, by Installation – Revenue and Forecast to 2028 (US$ Million)
Table 4. Australia: Unit Heater Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 5. Australia: Unit Heater Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. China: Unit Heater Market, by Installation – Revenue and Forecast to 2028 (US$ Million)
Table 7. China: Unit Heater Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 8. China: Unit Heater Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. India: Unit Heater Market, by Installation – Revenue and Forecast to 2028 (US$ Million)
Table 10. India: Unit Heater Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 11. India: Unit Heater Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 12. Japan: Unit Heater Market, by Installation – Revenue and Forecast to 2028 (US$ Million)
Table 13. Japan: Unit Heater Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 14. Japan: Unit Heater Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 15. South Korea: Unit Heater Market, by Installation – Revenue and Forecast to 2028 (US$ Million)
Table 16. South Korea: Unit Heater Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 17. South Korea: Unit Heater Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of APAC: Unit Heater Market, by Installation – Revenue and Forecast to 2028 (US$ Million)
Table 19. Rest of APAC: Unit Heater Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 20. Rest of APAC: Unit Heater Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 21. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Unit Heater Market Segmentation
Figure 2. APAC Unit Heater Market Segmentation – By Country
Figure 3. APAC Unit Heater Market Overview
Figure 4. Horizontal Unit Heater Segment Held the Largest Market Share Based on Installation
Figure 5. Commercial Segment Held the Largest Market Share Based on Application
Figure 6. Hydronic Segment Held the Largest Market Share Based on Product Type
Figure 7. China to Show Great Traction During Forecast Period
Figure 8. APAC – Pest Analysis
Figure 9. Expert Opinion
Figure 10. APAC Unit Heater Market Impact Analysis of Drivers and Restraints
Figure 11. APAC Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. APAC Unit Heater Market Revenue Share, by Installation (2020 and 2028)
Figure 13. APAC Horizontal Unit Heater: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. APAC Vertical Unit Heater: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. APAC Suspended Unit Heater: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. APAC Unit Heater Market Revenue Share, by Application (2020 and 2028)
Figure 17. APAC Commercial: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. APAC Industrial: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. APAC Residential: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. APAC Unit Heater Market Breakdown, by Product Type (2020 and 2028)
Figure 21. APAC Gas-Fired Market Revenue and Forecast to 2028(US$ Million)
Figure 22. APAC Hydronic Market Revenue and Forecast to 2028(US$ Million)
Figure 23. APAC Electric Market Revenue and Forecast to 2028(US$ Million)
Figure 24. APAC Others Market Revenue and Forecast to 2028(US$ Million)
Figure 25. APAC: Unit Heater Market, by Key Country-Revenue 2020 (US$ Million)
Figure 26. APAC: Unit Heater Market Revenue Share, by Key Country (2020 and 2028)
Figure 27. Australia: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. China: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. India: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Japan: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. South Korea: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Rest of APAC: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
- Armstrong International Inc.
- Dunham-Bush Limited
- Kroll Energy GmbH
- Reznor HVAC
- Thermon Industries, Inc.
- Trane
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the APAC Unit Heater market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the APAC Unit Heater market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the Unit Heater market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution