Europe Unit Heater Market
No. of Pages: 107 | Report Code: TIPRE00025711 | Category: Electronics and Semiconductor
No. of Pages: 107 | Report Code: TIPRE00025711 | Category: Electronics and Semiconductor
The unit heater market in Europe is further segmented into the US, Canada, and Mexico. Europe is a technologically advanced region owing to factors such as positive outlook toward modern technologies, high GDP per capita, favorable government policies, and vast industrialization capacity. The increasing adoption of heating solutions in commercial and industrial facilities, and the rising installation of connected HVAC systems are the key factors propelling the unit heater market growth. The market players are offering advanced unit heaters for new HVAC systems and retrofit sensing solutions for existing systems to improve their performance. Modine Manufacturing, in 2019, expanded its cabinet unit heater offerings by launching an enhanced HVAC system whose operation is based on an electronically commutated (EC) motor. The new EC motor features high efficiency, lower electricity consumption and heat wastage; and quieter operation with less maintenance needs. The company is offering advanced EC motor for both new and retrofit installation to upgrade the cabinet unit heaters. The presence of prominent companies such as Nortek Global HVAC, Armstrong, Modine Manufacturing Company, Beacon Morris, and Turbonics, Inc. with a strong distribution network in the region further augments the growth of the unit heater market. Flourishment of commercial sector is the major factor driving the growth of the Europe unit heater market.
The European HVAC manufacturers experienced a lower demand rate in 2020. The European unit manufacturers, including unit heater manufacturers had observed difficult times to keep up with scheduled deliveries of their products. This is mainly owing to the significant disruption in the raw material supply chain. The manufacturers witnessed delay in receiving raw materials, which is led the manufacturers to slow down the production pace, which is showcasing the declination trend in revenue generation for unit heaters. The emergence of COVID-19 has negatively impacted the businesses of European HVAC systems manufacturers in 2020. Additionally, the UK, France, Germany, Spain, and others have observed the second and third wave of COVID-19 in 2021, which has again compelled the manufacturers to restrict their production unit workforce. However, with the mass vaccination drive and growth in commercial and industrial activities the unit heaters market experience growth in sales of unit heaters from Q1 of 2021.
Strategic insights for the Europe Unit Heater provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,076.84 Million |
| Market Size by 2028 | US$ 1,521.13 Million |
| Global CAGR (2021 - 2028) | 5.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Installation
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
|
The geographic scope of the Europe Unit Heater refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The unit heater market in Europe is expected to grow from US$ 1,076.84 million in 2021 to US$ 1,521.13 million by 2028; it is estimated to grow at a CAGR of 5.1% from 2021 to 2028. Unit heaters are available in various sizes and shapes. The next-generation unit heaters are designed with a greater emphasis on comfort, ease of use, automated operations, remote control. Currently, unit heaters are integrated with warning indicators, fireproof materials, and explosion-proof to make them user-friendly. Major manufacturers such as Qubino and Armstrong are working on integrating intelligent technologies in their unit heaters. Heating equipment offered by Qubino feature easy scheduling, remote access, energy tracking, color touchscreen, and sensor technologies. Manufacturers such as Goodman Manufacturing Company and Qubino are also focusing on integrating the Internet of Things (IoT) and artificial intelligence (AI) in their unit heaters. Amana—a Heating, ventilation, and air conditioning (HVAC) equipment manufacturing company—is engaged in integrating intelligent communicating technology in unit heaters to automate the operations to offer a better consumer experience with high comfort. Furthermore, the incorporation of smart thermostats, Bluetooth connectivity, Wi-Fi connection, and intelligent circuit boards is further expected to raise the demand for smart unit heaters during the forecast period. For instance, unit heaters integrated with AI and machine learning are better in understanding the consumer usage pattern as well as evaluating the time and duration of the usage, which further eliminates the user's requirement to operate the unit heater physically. Thus, the integration of smart technologies with unit heaters is becoming a significant trend in the unit heater market.
The Europe unit heater market is segmented on the basis of installation, application product type, and country. By installation, the Europe 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.
A few major primary and secondary sources referred to for preparing this report on the unit heater market in Europe 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.
The Europe Unit Heater Market is valued at US$ 1,076.84 Million in 2021, it is projected to reach US$ 1,521.13 Million by 2028.
As per our report Europe Unit Heater Market, the market size is valued at US$ 1,076.84 Million in 2021, projecting it to reach US$ 1,521.13 Million by 2028. This translates to a CAGR of approximately 5.1% during the forecast period.
The Europe Unit Heater Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Unit Heater Market report:
The Europe Unit Heater Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Unit Heater Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Unit Heater Market value chain can benefit from the information contained in a comprehensive market report.
Office No. 1011, First floor, Farena Corporate Park, Magarpatta-Mundhwa road, Pune - 411028, Maharashtra, India
UK+442030260021, US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For Europe Unit Heater Market
