North America & Europe Unit Heater Market

The North America & Europe unit heater market was valued at US$ 2.38 billion in 2022 and is expected to reach US$ 3.75 billion by 2030; it is estimated to register a CAGR of 5.9% from 2022 to 2030.

North America & Europe Unit Heater Market Introduction

Unit heaters are available in various sizes and shapes. The next-generation unit heaters are designed to emphasize comfort, ease of use, automated operations, and remote control. Currently, unit heaters are integrated with warning indicators, fireproof materials, and explosion-proof features to make them user-friendly. Major manufacturers such as Qbino and Armstrong are working on incorporating intelligent technologies in their unit heaters. Heating equipment offered by Qbino features easy scheduling, remote access, energy tracking, color touchscreen, and sensor technologies. Such incorporation of technologies is expected to drive North America & Europe unit heater market growth during the forecast period.

The major stakeholders in the North America & Europe unit heater market ecosystem include hardware & component providers, unit heater manufacturers, government organizations, industry associations, regulatory bodies, distributors & resellers, and end customers. Component and hardware providers offer various components & parts to unit heater manufacturer providers. There are several peripheral stakeholders in the North America & Europe unit heater market which play a crucial role in enabling the technology advancements and adoption of unit heaters. Some of these stakeholders include government organizations, industry associations, and regulatory bodies among others. For instance, Air-Conditioning, Heating, and Refrigeration Institute (AHRI) is one of the key organizations which helps in developing codes and standards related to HVAC which directly impact the unit heater market developments and advancements. The increasing spending on developing commercial, residential, and industrial infrastructure in developing countries and upgradation of existing infrastructure in developed regions is projected to drive the demand for unit heaters among end-customers in coming years. Distributors and retailers in this market supply the unit heaters through both online and offline channels to end users which include commercial, industrial, and residential sectors.

As per the US Bureau of Economic Analysis (BEA), in 2020, 501 commercial real estate transactions were completed in the US. According to the recent Canadian Real Estate Wealth report, the Canadian real estate sector invested US$ 58.5 billion in 2022, nearly matching the investments made in 2021. The European Union is focusing on developing new clinics and hospitals during 2021–2027. Furthermore, there has been an increase in the number of hospitals due to the high number of COVID-19 patients and the rise in government spending for establishing more jumbo hospitals for COVID-19 care in 2020 and 2021 across the globe. These hospitals require a constant flow of heat for various operations, such as cleaning, drinking water sterilization, and sanitization. Moreover, cold regions such as Europe and North America require a high heating flow in commercial buildings during winter. These factors bolster the demand for unit heaters, thereby leading to the growth of the North America & Europe unit heater market.

North America & Europe Unit Heater Market Segments

The North America & Europe unit heater market is segmented based on product type, installation, application, and geography. Based on product type, the North America & Europe unit heater market is segmented into gas fired, hydronic, electric, and others. Based on installation, the market is segmented into horizontal unit heater, vertical unit heater, and suspended unit heater. Based on application, the North America & Europe unit heater market is segmented into commercial, industrial, and residential. Based on geography, the market is segmented into North America and Europe.

Hydronic unit heaters are mainly designed for horizontal and vertical (downward) airflow delivery. They use hot water or steam with low output and increased airflow for high-ceiling applications. The features of such heaters include versatile hanging systems, static and dynamically balanced fans, and enclosed motors. Hydronic unit heaters offer high-flow air circulation and provide extreme heat in a short time over large areas such as manufacturing plants, factories, large commercial and industrial spaces, warehouses, and stores. Such features and wide range of applications promote the growth of the segment in the North America & Europe unit heater market.

North America & Europe Unit Heater Market Major Sources and Companies Listed

Airtherm (Mestek Inc), Armstrong International Inc, Beacon Morris, Modine Manufacturing Co, KING ELECTRICAL MFG CO, Kroll Energy GmbH, Reznor HVAC (Nortek), Thermon Industries Inc, Trane Inc, and Turbonics Inc are among the key North America & Europe unit heater market players profiled during this market study. Various other companies are also introducing new technologies and offerings, helping the North America & Europe unit heater market players to expand their business in terms of revenue.

Reasons to Buy Report

• To understand the North America & Europe unit heater market landscape and identify market segments that are most likely to guarantee a strong return.
• To stay ahead of the race by comprehending the ever-changing competitive landscape for the North America & Europe unit heater market share.
• To efficiently plan M&A and partnership deals in the North America & Europe unit heater market analysis by identifying market segments with the most promising probable sales.
• To make knowledgeable business decisions from the perceptive and comprehensive analysis of the market performance of various North America & Europe unit heater market segments.
• To obtain revenue forecast for the market by various segments from 2023 to 2030 in US$.