The heating equipment (except warm air furnaces) market size has grown strongly in recent years. It will grow from $55.79 billion in 2025 to $58.73 billion in 2026 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to expansion of industrial processing facilities, demand for precise temperature control, growth of laboratory testing activities, adoption of boiler-based heating, industrial safety requirements.
The heating equipment (except warm air furnaces) market size is expected to see strong growth in the next few years. It will grow to $75.05 billion in 2030 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to industrial decarbonization initiatives, replacement of legacy heating systems, adoption of high-efficiency boilers, growth in chemical and pharmaceutical processing, automation of industrial heating. Major trends in the forecast period include growing demand for process heating equipment, expansion of laboratory heating applications, adoption of energy-efficient boiler systems, rising use in industrial fluid heating, modernization of heating infrastructure.
The increasing number of residential construction projects is expected to drive the growth of the heating equipment (except warm air furnaces) market going forward. Residential projects include the construction of houses, apartments, and high-rise buildings. Heating equipment is used to regulate temperature and humidity in these projects, ensuring thermal comfort and acceptable indoor air quality. As the number of residential and commercial construction projects rises, demand for heating equipment (except warm air furnaces) also increases. For instance, in January 2023, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, 1.4 million residential houses were constructed, representing a 12.8% increase compared to January 2022. Therefore, the growing number of residential construction projects is boosting the heating equipment (except warm air furnaces) market.
Major companies in the heating equipment (except warm air furnaces) market are focusing on air-to-water heat pumps to drive revenue growth. Air-to-water heat pumps use ambient air to either absorb or reject heat, depending on the operating mode, for heating or cooling purposes. For instance, in May 2023, Daikin Industries Ltd., a Japan-based manufacturer specializing in air conditioning, heating, ventilation, and refrigeration systems, launched an air-to-water heat pump. The device features a reversing function that allows it to switch between heating and cooling modes based on process or space temperature requirements. With a coefficient of performance (COP) of 3.12 in heating mode and a seasonal coefficient of performance (SCOP) of 3.31, it delivers a heating capacity of 91.2 kW and a cooling capacity of 23.58 tons. The heat pump includes a brazed plate evaporator with low refrigerant pressure drops, low discharge pressure, continuous fan speed modulation, a large condenser coil surface for optimal heat transfer, and high-efficiency scroll compressors.
In July 2024, Bradford White Corporation, a US-based provider of residential, commercial, and industrial water heaters, boilers, and storage-tank products, acquired Heat-flo Inc. for an undisclosed amount. This acquisition provides Bradford White access to Heat-flo’s portfolio of stainless-steel indirect water-heating solutions and hydronic storage tanks for residential, commercial, and industrial applications, enhancing its water- and space-heating capabilities while expanding its customer reach and compliance with evolving regulatory standards. Heat-flo Inc. is a US-based company specializing in stainless-steel indirect water-heating systems, hydronic storage tanks, multi-energy and solar-compatible water-heating solutions, and hydronic and radiant-heating applications.
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.
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. The countries covered in the heating equipment (except warm air furnaces) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The heating equipment (except for warm air furnaces) market consists of sales of heating boilers, heating stoves, floor and wall furnaces, wall and baseboard heaters, and heating units. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 1-3 business days.
The heating equipment (except warm air furnaces) market size is expected to see strong growth in the next few years. It will grow to $75.05 billion in 2030 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to industrial decarbonization initiatives, replacement of legacy heating systems, adoption of high-efficiency boilers, growth in chemical and pharmaceutical processing, automation of industrial heating. Major trends in the forecast period include growing demand for process heating equipment, expansion of laboratory heating applications, adoption of energy-efficient boiler systems, rising use in industrial fluid heating, modernization of heating infrastructure.
The increasing number of residential construction projects is expected to drive the growth of the heating equipment (except warm air furnaces) market going forward. Residential projects include the construction of houses, apartments, and high-rise buildings. Heating equipment is used to regulate temperature and humidity in these projects, ensuring thermal comfort and acceptable indoor air quality. As the number of residential and commercial construction projects rises, demand for heating equipment (except warm air furnaces) also increases. For instance, in January 2023, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, 1.4 million residential houses were constructed, representing a 12.8% increase compared to January 2022. Therefore, the growing number of residential construction projects is boosting the heating equipment (except warm air furnaces) market.
Major companies in the heating equipment (except warm air furnaces) market are focusing on air-to-water heat pumps to drive revenue growth. Air-to-water heat pumps use ambient air to either absorb or reject heat, depending on the operating mode, for heating or cooling purposes. For instance, in May 2023, Daikin Industries Ltd., a Japan-based manufacturer specializing in air conditioning, heating, ventilation, and refrigeration systems, launched an air-to-water heat pump. The device features a reversing function that allows it to switch between heating and cooling modes based on process or space temperature requirements. With a coefficient of performance (COP) of 3.12 in heating mode and a seasonal coefficient of performance (SCOP) of 3.31, it delivers a heating capacity of 91.2 kW and a cooling capacity of 23.58 tons. The heat pump includes a brazed plate evaporator with low refrigerant pressure drops, low discharge pressure, continuous fan speed modulation, a large condenser coil surface for optimal heat transfer, and high-efficiency scroll compressors.
In July 2024, Bradford White Corporation, a US-based provider of residential, commercial, and industrial water heaters, boilers, and storage-tank products, acquired Heat-flo Inc. for an undisclosed amount. This acquisition provides Bradford White access to Heat-flo’s portfolio of stainless-steel indirect water-heating solutions and hydronic storage tanks for residential, commercial, and industrial applications, enhancing its water- and space-heating capabilities while expanding its customer reach and compliance with evolving regulatory standards. Heat-flo Inc. is a US-based company specializing in stainless-steel indirect water-heating systems, hydronic storage tanks, multi-energy and solar-compatible water-heating solutions, and hydronic and radiant-heating applications.
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.
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. The countries covered in the heating equipment (except warm air furnaces) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The heating equipment (except for warm air furnaces) market consists of sales of heating boilers, heating stoves, floor and wall furnaces, wall and baseboard heaters, and heating units. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 1-3 business days.
Table of Contents
1. Executive Summary
2. Heating Equipment (Except Warm Air Furnaces) Market Characteristics
3. Heating Equipment (Except Warm Air Furnaces) Market Supply Chain Analysis
4. Global Heating Equipment (Except Warm Air Furnaces) Market Trends and Strategies
5. Heating Equipment (Except Warm Air Furnaces) Market Analysis of End Use Industries
7. Global Heating Equipment (Except Warm Air Furnaces) Strategic Analysis Framework, Current Market Size, Market Comparisons and Growth Rate Analysis
8. Global Heating Equipment (Except Warm Air Furnaces) Total Addressable Market (TAM) Analysis for the Market
9. Heating Equipment (Except Warm Air Furnaces) Market Segmentation
10. Heating Equipment (Except Warm Air Furnaces) Market Regional and Country Analysis
11. Asia-Pacific Heating Equipment (Except Warm Air Furnaces) Market
12. China Heating Equipment (Except Warm Air Furnaces) Market
13. India Heating Equipment (Except Warm Air Furnaces) Market
14. Japan Heating Equipment (Except Warm Air Furnaces) Market
15. Australia Heating Equipment (Except Warm Air Furnaces) Market
16. Indonesia Heating Equipment (Except Warm Air Furnaces) Market
17. South Korea Heating Equipment (Except Warm Air Furnaces) Market
18. Taiwan Heating Equipment (Except Warm Air Furnaces) Market
19. South East Asia Heating Equipment (Except Warm Air Furnaces) Market
20. Western Europe Heating Equipment (Except Warm Air Furnaces) Market
21. UK Heating Equipment (Except Warm Air Furnaces) Market
22. Germany Heating Equipment (Except Warm Air Furnaces) Market
23. France Heating Equipment (Except Warm Air Furnaces) Market
24. Italy Heating Equipment (Except Warm Air Furnaces) Market
25. Spain Heating Equipment (Except Warm Air Furnaces) Market
26. Eastern Europe Heating Equipment (Except Warm Air Furnaces) Market
27. Russia Heating Equipment (Except Warm Air Furnaces) Market
28. North America Heating Equipment (Except Warm Air Furnaces) Market
29. USA Heating Equipment (Except Warm Air Furnaces) Market
30. Canada Heating Equipment (Except Warm Air Furnaces) Market
31. South America Heating Equipment (Except Warm Air Furnaces) Market
32. Brazil Heating Equipment (Except Warm Air Furnaces) Market
33. Middle East Heating Equipment (Except Warm Air Furnaces) Market
34. Africa Heating Equipment (Except Warm Air Furnaces) Market
36. Heating Equipment (Except Warm Air Furnaces) Market Competitive Landscape and Company Profiles
37. Heating Equipment (Except Warm Air Furnaces) Market Other Major and Innovative Companies
40. Heating Equipment (Except Warm Air Furnaces) Market High Potential Countries, Segments and Strategies
41. Appendix
Executive Summary
Heating Equipment (Except Warm Air Furnaces) Market Global Report 2026 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses heating equipment (except warm air furnaces) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for heating equipment (except warm air furnaces)? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The heating equipment (except warm air furnaces) market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
- The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
- The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
- The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
- The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
- The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
- Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.
Report Scope
Markets Covered:
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 Equipment2) 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 Systems2) 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
Companies Mentioned: 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
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: Word, PDF or Interactive Report + Excel Dashboard
Added Benefits:
- Bi-Annual Data Update
- Customisation
- Expert Consultant Support
Companies Mentioned
The companies featured in this Heating Equipment (Except Warm Air Furnaces) market report include:- 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
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 250 |
| Published | January 2026 |
| Forecast Period | 2026 - 2030 |
| Estimated Market Value ( USD | $ 58.73 Billion |
| Forecasted Market Value ( USD | $ 75.05 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 23 |
