Global Heating Equipment Market Size & Outlook, 2025-2030
The global heating equipment market size was estimated at USD 136,891.4 million in 2024 and is projected to reach USD 216,296.4 million by 2030, growing at a CAGR of 8% from 2025 to 2030.
Revenue, 2024 (US$M)
$136,891.4
Forecast, 2030 (US$M)
$216,296.4
CAGR, 2025 - 2030
8%
Report Coverage
Worldwide
Global heating equipment market, 2018-2030 (US$M)
Related Markets
Global heating equipment market highlights
- The global heating equipment market generated a revenue of USD 136,891.4 million in 2024 and is expected to reach USD 216,296.4 million by 2030.
- The market is expected to grow at a CAGR (2025 - 2030) of 8% by 2030.
- In terms of segment, heat pump accounted for a revenue of USD 105,422.6 million in 2024.
- Heat Pump is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2024.
- Country-wise, Norway is expected to register the highest CAGR from 2025 to 2030.
Global data book summary
| Market revenue in 2024 | USD 136,891.4 million |
| Market revenue in 2030 | USD 216,296.4 million |
| Growth rate | 8% (CAGR from 2025 to 2030) |
| Largest segment | Heat pump |
| Fastest growing segment | Heat Pump |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Heat Pump, Unitary Heaters, Space Heating Boilers, Warm Air Furnace |
Other key industry trends
- In terms of revenue, the North America accounted for 22.7% of the global heating equipment market in 2024.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, Norway is the fastest growing regional market and is projected to reach USD 1,821.2 million by 2030.
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Heating Equipment Market Scope
Heating equipment market segmentation & scope
Heating Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Midea Group | View profile | 10001+ | Beijiao, Guangdong, China, Asia | https://midea-group.com |
| Rheem Manufacturing | View profile | 5001-10000 | Atlanta, Georgia, United States, North America | http://www.rheem.com |
| Trane Technologies PLC Class A | View profile | 40000 | 170/175 Lakeview Drive, Airside Business Park, Swords County, Dublin, Ireland | https://www.tranetechnologies.com |
| Lennox International Inc | View profile | 12600 | 2140 Lake Park Boulevard, Richardson, TX, United States, 75080 | https://www.lennox.com |
| Haier | View profile | 10001+ | Qingdao Shi, Shandong, China, Asia | http://haier.com/in |
| Robert Bosch Engineering & Business Solutions | View profile | 10001+ | Bangalore, Karnataka, India, Asia | http://www.bosch-india-software.com |
| Carrier Global Corp Ordinary Shares | View profile | 53000 | 13995 Pasteur Boulevard, Palm Beach Gardens, FL, United States, 33418 | https://www.corporate.carrier.com |
| Daikin Industries Ltd | View profile | 107127 | Umeda Center Building, 2-4-12, Nakazaki-Nishi, Kita-ku, Osaka, Japan, 530-8323 | http://www.daikin.com |
| LG Electronics Inc ADR | View profile | 35111 | Twin Tower 128, Yeoui-daero, Yeongdeungpo-gu, Seoul, Korea, Republic of, 07336 | https://www.lge.co.kr |
| Danfoss A/S | View profile | 10001+ | Nordborg, Syddanmark, Denmark, Europe | https://www.danfoss.com |
| Samsung Electronics Co Ltd | View profile | 124804 | 129, Samsung-ro, Yeongtong-gu, Gyeonggi-do, Suwon-si, Korea, Republic of, 443-742 | https://www.samsung.com |
| Emerson Electric Co | View profile | 67000 | 8000 West Florissant Avenue, P.O. Box 4100, St. Louis, MO, United States, 63136 | https://www.emerson.com |
| Panasonic Holdings Corp | View profile | 230025 | 1006, Oaza Kadoma, Kadoma-shi, Osaka, Japan, 571-8501 | https://holdings.panasonic |
| Mitsubishi Electric Corp | View profile | 149134 | Tokyo Building, 2-7-3, Marunouchi, Chiyoda-ku, Tokyo, Japan, 100-8310 | https://www.mitsubishielectric.com |
| Johnson Controls International PLC | View profile | 102000 | One Albert Quay, Cork, Ireland, T12 X8N6 | https://www.johnsoncontrols.com |
| Hitachi Ltd | View profile | 322525 | 6-6, Marunouchi 1-chome, Chiyoda-ku, Tokyo, Japan, 100-8280 | http://www.hitachi.com |
| Fujitsu Ltd | View profile | 124055 | Shiodome City Center, 1-5-2 Higashi-Shimbashi, Minato-ku, Tokyo, Japan, 105-7123 | http://www.fujitsu.com |
Global heating equipment market size, by regions, 2018-2030 (US$M)
Top 10 countries: Heating equipment market size, 2024 (US$M)
Global heating equipment market share, by product, 2024 & 2030 (%, US$M)
Heating equipment market: Opportunity assessment by country
Global heating equipment market, by region, 2024 (US$M)
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