Canada Heating Equipment Market is set to rise from $460.2 Million in 2016 to $465.5 Million in 2020. Growing infrastructural developments in different industries along with government initiatives are driving the demand for the Heating Equipment in the country. Canada is the fastest growing region for Heating equipment in North America due to the growth of construction activities in the infrastructural and real estate sector. In this region, many leading industries have established their production facilities in the region. This factor enhances the growth of temperature sensors in South Korea. The commercial Heating systems can be used for larger capacity installation with central heating that need various sensors to maintain the required temperature in commercial buildings. A commercial building can be made energy efficient with the help of HVAC sensors in the equipment along with the heating and cooling systems. The factors responsible for the growth of Heating equipment in the commercial segment include strict regulations, reduction in prices, and increase in consumer spending.
Increasing cost of energy, has forced the manufacturers to developed energy efficient devices. The launch of energy efficient products has maximized and made more convenient for the consumer to adopt the technology. Hence, the market is expected continue growing in the coming future. Considering new government rules efficient low carbon heating and is environmental friendly is growing at a good pace and has captured significant market in the residential sector. In commercial sector, the demand for central air conditioners, which establishes cooling towers and chillers is moderately higher due to increase in demand from the construction and refurbishment activity, will lead the market to grow decently
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Industrial boilers market is witnessing tremendous growth due to increasing demand from end user applications in the food, beverages, pharmaceutical and chemical industry. The consumers of industrial boilers are now demanding economic, fuel saving, cleaner emissions and automated operations. Industrial boilers serve various end user industries such as food and beverages, chemical, textile, paper and pulp, etc. The Canadian region has the largest growth potential as many manufacturers are moving their supply chains in that region due to large economies of scale, easy access to raw materials and availability of labor. In Canada, most homes use forced-air Heating systems that deliver warm or cool air from a central heating and/or cooling unit that increases the production of Heating equipment among manufacturers which in turn enhancing the market growth in Canada. Owing to rising trends of comfortable lifestyle the need of Heating technology rising among consumers a it helps to maintain the temperature and provides comfortable temperature that rising the need of Heating equipment among consumers.
The increased activity within the industrial sector, comprising manufacturing facilities (specifically the food industry), hospitals, data centers, and other institutional and industrial facilities rising the need of HVAC equipment in Canada. In 2020, Canada’s leading plumbing and HVAC distributor announces a new partnership with GE Appliances, a Haier company in order to bring new line of heating and cooling products to Canada that rising the adoption of HVAC among consumers.
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Heating Equipment Market Growth Drivers:
Rising Demand for Energy Efficient Water Heaters
Water heater manufacturers are increasingly producing energy-efficient products to reduce carbon footprint and enable energy savings for the consumers. The rise of energy-efficient appliances can be attributed to the stringent government regulations on electric home appliances and advances in technology. The U.S. Department of energy, mandated the industry manufacturers to use new technologies for the development of energy efficient heaters which were rated based on thermal efficiency and standby losses. As energy efficient appliances are designed to utilize minimum energy. More than 80 countries have set standards and labels for energy efficient appliances. For instance, in the USA, an ENERGY STAR certified water heater saves $3500 over its lifetime. With BEE’s Standards and Labelling Program having included water heaters as a mandatory appliance, manufacturers produce more energy-efficient products, in turn reducing energy costs and improving demand for water heaters.
The Major Players in this Market Include
Major players in Heating Equipment Market include Trane, Bosch, Fujitsu, Carrier and UTC among others. In November 2020, Emerson acquired Beverly, MA-based 7AC Technologies Inc., a specialist in providing heating and air conditioning products and services.
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