is likely to witness a CAGR of 2.5% during the forecast period. The major factors such as growing industrialization and urbanization across emerging economies, technical advancements, flexibility of fuel options, and sustainable network integration are expected to fuel the market growth over the forecast period.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Based on the category type, the market is segmented as heating and cooling. The heating segment is estimated to account for the major share of the market during the forecast period on account of rapid technological advancements and growing share of electricity aiding heat supply along with ongoing integration of renewable energy networks.
Based on the application type, the market is segmented as industrial, residential, and service sector. Residential application is estimated to witness high growth in the market during the forecast period. Factors such as ongoing integration of home energy management systems and rising population escalating real estate investments are expected to fuel the overall industry growth over the forecast period.
In terms of regions, the Middle East is estimated to dominate the market with Saudi Arabia being the growth engine of the region during the forecast period. Rapid urbanization and infrastructural expansion are the key factors fueling the regional market growth. North America, Europe, and Asia-Pacific are also expected to offer substantial growth opportunities over the forecast period.
Leading Players Covered in the Heating & Cooling Market Report:
· Goodman Global, Inc.
· Ingersoll Rand, Inc.
· Johnson Control
· Rheem Manufacturing Company
· Trane Technologies Inc.
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