CHICAGO, June 22, 2023 /PRNewswire/ -- The global water-based heating & cooling systems market is expected to be valued at USD 37.7 billion in 2023 and is projected to reach USD 55.2 billion by 2028; it is expected to grow at a CAGR of 7.9% from 2023 to 2028 according to a new report by MarketsandMarkets. The global demand for energy is growing rapidly, and this is putting a strain on the environment. Water-based heating and cooling systems are a more sustainable option than traditional systems, as they produce fewer emissions. This is driving demand for water-based systems, as businesses and homeowners look for ways to reduce their environmental impact.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=226018313
Browse in-depth TOC on "Water-based Heating & Cooling Systems Market"
189 - Tables
48 - Figures
233 - Pages
Water-based Heating & Cooling Systems Market Report Scope:
Report Coverage | Details |
Market Revenue in 2023 | $37.7 billion |
Estimated Value by 2028 | $55.2 billion |
Growth Rate | Poised to grow at a CAGR of 7.9% |
Market Size Available for | 2019-2028 |
Forecast Period | 2023-2028 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Heating, Cooling, Cooling Type, Implementation Type, Vertical & Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Increase in environmental concerns and aging infrastructure |
Key Market Opportunities | Growing demand for sustainable solutions |
Key Market Drivers | Increasing constructions activities in residential and industry sectors |
Water-based heating systems market for convector heaters to hold the second-highest market share during the forecast period.
Convector heaters are versatile and efficient heating devices that find various applications in residential, commercial, and industrial settings. One major use case of convector heaters is in providing supplementary heating in homes. They are particularly useful in rooms or areas that are not adequately heated by the central heating system, such as basements, garages, or individual rooms with poor insulation. Convector heaters are also commonly used in offices and workplaces to provide localized heat to employees, especially in larger spaces where maintaining a consistent temperature throughout the entire area may be challenging.
Water-based heating & cooling systems industry for industrial vertical to hold the second highest market share during the forecast period.
The application of water-based heating and cooling systems is more complex in industries compared with residential and commercial buildings. Industrial water-based heating and cooling systems have special requirements and require customized solutions. According to the US Energy Information Administration (EIA), industrial buildings consume more energy than residential and commercial buildings. The implementation and execution of energy-saving programs are complex in these buildings due to the different manufacturing activities involved in various industries. Moreover, large-scale enterprises always look for ways to reduce costs by optimizing their energy usage. Industrial buildings require a lot of energy to operate their processes. The systems used in industrial buildings help to reduce costs related to energy. Industrial owners are installing efficient water-based heating and cooling systems in warehouses, control rooms, distribution centers, and production facilities to increase the optimum use of energy in these areas.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=226018313
Water-based heating & cooling systems market for China to hold the highest CAGR during the forecast period.
China is one of the largest consumers of HVAC systems and it has a huge demand for water-based heating and cooling systems with the growing industrialization and urbanization. The booming industrial and manufacturing sectors have made China one of the largest energy consumers in the world. Thus, the government is coming up with various initiatives for promoting energy consumption practices. Moreover, the minimum energy performance standard (MEPS) in the country is expected to reduce CO2 emission levels by ~12% from 2019 to 2050, leading to high demand for water-based heating and cooling systems in the country.
The water-based heating & cooling systems companies includes significant Tier I and II players like Daikin (Japan), Johnson Controls (US), Carrier Global Corporation (US), Trane Technologies (US), Fujitsu (Japan), and others. These players have a strong market presence for water-based heating & cooling systems across various North America, Europe, Asia Pacific, and RoW countries.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=226018313
Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports:
Building Automation System Market Size, Share & Industry Growth Analysis Report by Offering (Facility Management Systems, Security & Access Controls, Fire Protection Systems, BEM Software, BAS Services), Communication Technology (Wireless, Wired), Application and Region - Global Growth Driver and Industry Forecast to 2027
HVAC Controls Market by Component (Sensors, Controllers, and Controlled Equipment), System, Implementation Type (New Construction, Retrofit), Application (Residential, Commercial, Industrial) and Region - Global Forecast to 2027
Smart Home Market Size, Share & Industry Growth Analysis Report by Product (Lighting Control, Security & Access Control, HVAC Control, Smart Speaker, Smart Kitchen and Smart Furniture), Software and Services, Sales Channel and Region - Global Forecast to 2028
Building Management System Market by Software (Facility, Security, Energy, Emergency, Infrastructure Management), Service (Professional, Managed), Application (Residential, Commercial, Industrial), and Geography - Global Forecast to 2023
Energy Harvesting System Market Size, Share & Industry Growth Analysis Report by End-use System, Technology, Component (Transducers, Power Management Integrated Circuits and Secondary Batteries), Application, and Region - Global Growth Driver and Industry Forecast to 2026
About MarketsandMarkets
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/water-based-heating-cooling-systems-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/water-based-heating-cooling-systems.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/water-based-heating--cooling-systems-market-worth-55-2-billion-by-2028---exclusive-report-by-marketsandmarkets-301857764.html
