Water-Based Heating And Cooling Systems Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Water-Based Heating And Cooling Systems Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UNITED KINGDOM, September 16, 2024 /EINPresswire.com/ -- The water-based heating and cooling systems market has experienced robust growth in recent years, expanding from $32.33 billion in 2023 to $34.89 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to changing climatic conditions, growth in various industrial sectors, a growing number of retrofit and renovation projects, the need to mitigate the urban heat island effect in densely populated areas, increasing demand for heating, ventilation, and air conditioning (HVAC) systems in commercial buildings.
What Is The Estimated Market Size Of The Global Water-Based Heating And Cooling Systems Market And Its Annual Growth Rate?
The water-based heating and cooling systems market is projected to grow strongly, reaching $47.52 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to growing awareness of energy efficiency, stringent environmental regulations, rising demand for sustainable building solutions, urbanization and infrastructure development, government incentives, and rebate programs.
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Growth Driver Of The Water-Based Heating And Cooling Systems Market
The increasing construction activities are expected to propel the growth of the water-based heating and cooling systems market going forward. The construction industry encompasses the processes of building, renovating, and maintaining structures and infrastructure, including residential, commercial, and industrial projects. The construction industry is rising due to increasing urbanization, population growth, and government investments in infrastructure development. Water-based heating and cooling systems are required in the construction industry for their energy efficiency, cost-effectiveness, and ability to provide consistent and comfortable indoor climate control in both residential and commercial buildings.
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Who Are the Leading Competitors in the Water-Based Heating And Cooling Systems Market Share?
Key players in the water-based heating and cooling systems market include Samsung Electronics, LG Electronics, Panasonic Corporation, Midea Group, Mitsubishi Electric Corporation, Haier Smart Home Co. Ltd., Gree Electric Appliances Inc., Daikin Industries Ltd., Johnson Controls International Plc, Carrier Corporation, Trane Technologies Plc, Danfoss Group, Kingspan Group, Lennox International Inc., A.O. Smith Corporation, Viessmann Group, Rheem Manufacturing Company, IMI Plc, Fujitsu General Global, Uponor Corporation, Weishaupt AG, Ferroli S.p.A., BDR Thermea Group, Vaillant Group, Bosch Thermotechnology.
Which Key Trends Are Driving Water-Based Heating And Cooling Systems Market Growth?
Major companies operating in the water-based heating and cooling systems market are developing innovative technology, such as heat pumps, to improve energy efficiency and reduce environmental impact. Heat pumps are a highly efficient technology for heating and cooling buildings that transfer heat rather than generating it and are useful for reducing emissions.
How Is The Global Water-Based Heating And Cooling Systems Market Segmented?
1) By Component: Heat Pump, Convector Heater, Radiator, Boiler, Chiller, Air Handling Unit (AHU), Cooling Tower, Expansion Tank
2) By Cooling Type: Direct Cooling, Indirect Cooling
3) By Implementation Type: New Construction, Retrofit
4) By End-User: Residential, Commercial, Industrial
Geographical Insights: North America Leading The Water-Based Heating And Cooling Systems Market
North America was the largest region in the water-based heating and cooling systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the water-based heating and cooling systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Water-Based Heating And Cooling Systems Market Definition
Water-based heating and cooling systems use water as a medium to transfer heat for both heating and cooling purposes in buildings. They typically involve circulating water through pipes to either absorb heat from or release heat to the environment, providing efficient climate control through radiators, underfloor heating, or fan coil units. These systems are known for their energy efficiency and ability to provide consistent temperature control throughout spaces.
Water-Based Heating And Cooling Systems Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global water-based heating and cooling systems market report covering trends, opportunities, strategies, and more
The Water-Based Heating And Cooling Systems Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on water-based heating and cooling systems market size, water-based heating and cooling systems market drivers and trends, water-based heating and cooling systems market major players, water-based heating and cooling systems competitors' revenues, water-based heating and cooling systems market positioning, and water-based heating and cooling systems market growth across geographies. The water-based heating and cooling systems market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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