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Heating Equipment (Except Warm Air Furnaces) Market Growth Analysis: How Will Revenue Expand During The Forecast Period?
The heating equipment (except warm air furnaces) market size has experienced robust growth over recent years. It is forecast to expand from $55.79 billion in 2025 to $58.73 billion in 2026, at a compound annual growth rate (CAGR) of 5.3%. The growth observed in prior periods can be attributed to the expansion of industrial processing facilities, a heightened demand for precise temperature control, an increase in laboratory testing activities, the widespread adoption of boiler-based heating solutions, and various industrial safety requirements.
The market size for heating equipment (except warm air furnaces) is anticipated to achieve robust expansion over the next few years, reaching $75.05 billion by 2030, with a compound annual growth rate (CAGR) of 6.3%. This expansion during the forecast period is largely due to industrial decarbonization initiatives, the replacement of legacy heating systems, the uptake of high-efficiency boilers, growth in chemical and pharmaceutical processing, and the automation of industrial heating. Significant trends expected in the forecast period encompass an increasing demand for process heating equipment, the broadening of laboratory heating applications, the adoption of energy-efficient boiler systems, a rise in use for industrial fluid heating, and the modernization of heating infrastructure.
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Heating Equipment (Except Warm Air Furnaces) Market Expansion Supported By Key Demand Factors
A growing volume of residential construction projects is anticipated to drive the heating equipment (except warm air furnaces) market in the coming period. These residential projects specifically involve the erection of houses, apartments, and high-rise buildings. Heating equipment serves to manage temperature and humidity within these residential settings, with the objective of ensuring thermal comfort and acceptable indoor air quality. Therefore, an uptick in both residential and commercial construction schemes directly boosts the demand for the heating equipment (except warm air furnaces) market. As an illustration, in January 2023, figures from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development revealed that 1.4 million residential houses were constructed, representing a 12.8% rise compared to January 2022. Consequently, the rising number of residential construction projects acts as a key driver for the heating equipment (except warm air furnaces) market.
Heating Equipment (Except Warm Air Furnaces) Market Segments: Where Are The Largest Growth Opportunities?
The heating equipment (except warm air furnaces) market covered in this report is segmented –
1) By Equipment Type: Boilers and Hydronic Heating Equipment, Steam Heating Equipment, Electric Process Heating Equipment, Thermal Fluid (Hot Oil) Heating Systems, Laboratory and Analytical Heating Equipment, Supplemental and Temporary Heating Equipment
2) By Energy Source: Electric, Natural Gas, Oil, Biomass, Other Energy Sources
3) By Application: Industrial Process Heating, Laboratory and Analytical Heating, Commercial Building Heating, District and Institutional Heating, Other Applications
4) By End-Use Industry: Chemicals and Petrochemicals, Pharmaceuticals and Biotechnology, Food and Beverage Processing, Oil and Gas, Power Generation, Research and Academic Laboratories, Commercial and Institutional Facilities, Other End-Use Industries
Subsegments:
1) By Boilers and Hydronic Heating Equipment: Hot Water Boilers, Condensing Boilers, Combi Boilers, Commercial and Industrial Hydronic Systems
2) By Steam Heating Equipment: Low-Pressure Steam Boilers, Steam Radiators and Heat Exchangers, Steam Distribution and Control Equipment
3) By Electric Process Heating Equipment: Immersion Heaters, Circulation Heaters, Cartridge and Band Heaters
4) By Thermal Fluid (Hot Oil) Heating Systems: Thermal Fluid Heaters, Heat Transfer Oil Systems, Indirect Fired Heating Systems
5) By Laboratory and Analytical Heating Equipment: Heating Mantles, Hot Plates and Stirrers, Heating Baths (Oil, Water, Sand), Rotary Evaporator Heating Units
6) By Supplemental and Temporary Heating Equipment: Electric Space and Infrared Heaters, Portable Industrial Heaters, Temporary Construction and Event Heaters
#Heating Equipment (Except Warm Air Furnaces) Market Growth Trends: What Is Influencing The Future Outlook?
Leading companies in the heating equipment (except warm air furnaces) market are concentrating on air-to-water heat pumps to boost their market revenues. An air-to-water heat pump is a system that utilizes ambient air to either release or absorb heat for heating or cooling purposes, depending on its operational setting. For instance, in May 2023, Daikin Industries Ltd., a Japan-based firm specializing in air conditioning, heating, ventilation, and refrigeration systems, introduced an air-to-water heat pump. This unit features a reversing function, allowing the chiller to switch between heating and cooling modes based on the temperature demands of the process or space. With a coefficient of performance (COP) of 3.12 in heating mode and a seasonal coefficient of performance (SCOP) of 3.31, the device offers a heating capacity of 91.2 kW and a cooling capacity of 23.58 tons. The heat pump incorporates a brazed plate evaporator designed for low refrigerant pressure drops, low discharge pressure, continuous fan speed modulation, a large condenser coil surface area for excellent heat transfer, and high-efficiency scroll compressors.
Heating Equipment (Except Warm Air Furnaces) Market Major Participants And Competitive Dynamics
Major companies operating in the heating equipment (except warm air furnaces) market are Thermal Solutions Products LLC, New Yorker Boiler Company Inc., Bard HVAC, Fulton Thermal Corporation, John Zink Company LLC, Toyotomi Co. Ltd., ECR International Inc., Daikin Industries Ltd., Robert Bosch GmbH, A.O. Smith Corporation, Bosch Thermotechnology Corp., Bradford White Corporation, Burnham Holdings Inc., Carrier Corporation, Danfoss A/S, Emerson Electric Co., Honeywell International Inc., HTP Comfort Solutions LLC, Johnson Controls International plc, Laars Heating Systems Company, Lochinvar LLC, Mitsubishi Electric Corporation
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Heating Equipment (Except Warm Air Furnaces) Market Regional Analysis And Leading Geography
North America was the largest region in the heating equipment (except warm air furnaces) market in 2025. The regions covered in the heating equipment (except warm air furnaces) market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.