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Canada Heating equipment production 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
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.