Unit Heater Market Scope, Overview, and Analysis by 2031
The unit heater market size is projected to reach US$ 6.33 billion by 2031 from US$ 4.16 billion in 2023. The market is expected to register a CAGR of 5.4% during 2023–2031. Energy conservation efforts are likely to remain a key trend in the market.
Unit Heater Market Analysis
Top unit heater manufacturers are now developing energy-efficient products to achieve effective heating with reduced maintenance and operational costs, as well as a reduction in emissions. For example, Modine Manufacturing Company has introduced a new unit heater called Affinity. Some of its advanced features include a power exhauster, dual heat exchanger, and separated combustion chamber, all of which reduce CO2 emissions and increase heating efficiency in general. Growing demands for silent operation, functioning of electric heaters linked directly with solar panels, and automatic temperature change through the implementation of sensors are some of the factors driving the global market for unit heaters, while the manufacturers are also coming up with new designs in motors with low-noise fans and integrating thermostats, screen displays, and remote-control options. Moreover, various states in the US are adopting energy efficiency standards for unit heaters, as recommended by the US Department of Energy, thereby promoting the production of energy-efficient unit heaters. Hazloc Heaters has engineered an explosion-proof electric air heater for use in harsh environments and is certified under US and Canadian standards. This provides a spark-resistant fan assembly with quality per AMCA 99-10.
Unit Heater Market Overview
A unit heater is a self-contained heater installed in a commercial, industrial, or residential context to provide focused heating. The heaters are specially designed to effectively create and spread their heat in some square or round area, usually a warehouse, workshop, or garage. Most of them consist of a fan or blower that forces air over a heat exchanger and then discharges heated air into the space. Some of the energy sources used to power unit heaters include electricity, natural gas, or propane. Wall-mount and ceiling-suspended attachments are available for these units to save space. Their compactness and versatility qualify them for a wide range of space heating applications with cost-effective and reliable solutions.
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Unit Heater Market: Strategic Insights
Market Size Value in US$ 3,740.3 million in 2021 Market Size Value by US$ 5,417.1 million by 2028 Growth rate CAGR of 5.4% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Unit Heater Market: Strategic Insights
| Market Size Value in | US$ 3,740.3 million in 2021 |
| Market Size Value by | US$ 5,417.1 million by 2028 |
| Growth rate | CAGR of 5.4% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Unit Heater Market Drivers and Opportunities
Integration of Smart Technologies with Unit Heaters
The unit heaters have been designed in different sizes and configurations, whereas the new generation is focused on comfort, ease of operation, automation, and remote control. The new unit heaters have warning indicators fitted with fire-resistant materials and explosion-proof features to guarantee the safety of the users. Some intelligent technologies are being added by the best manufacturers, such as Qubino and Armstrong, into their unit heaters. The heating equipment from Qubino provides convenient scheduling, remote accessibility, energy monitoring, color touchscreen, and sensor capabilities. Other companies, such as Goodman Manufacturing Company, are focusing their attention on incorporating the Internet of Things and Artificial Intelligence into their unit heaters. Amana, a leading manufacturer of heating, ventilation, and air conditioning equipment, is making great efforts to introduce intelligent communication technology in unit heaters that can automate their operations and increase consumer comfort.
Further, smart thermostats, Bluetooth connectivity, Wi-Fi connectivity, and intelligent circuitry are some of the features that will augment demand for smart unit heaters in the coming years. For example, the infusion of AI and machine learning into unit heaters makes them smart to analyze the patterns of use among their consumers in order to find out the optimum time usage, thus avoiding human operation. Therefore, the trend to incorporate smart technologies into unit heaters is driving the growth of the unit heater market.
Expansion of the Construction Industry
The growth in the construction industry is contributing significantly to the demand for unit heaters. The formation of new healthcare centers and hospitals within the European Union will, at large, drive the demand for heating solutions. The rise of new structures brings with it a pressing need for efficient and reliable heating systems, thus opening up a rather profitable opportunity for the unit heater market to be applied in such budding healthcare facilities and hospitals. This trend presents a good opportunity for the unit heater market to meet the rising heating demands of such newly built healthcare infrastructures, which would complement the overall growth of the construction industry and the changing healthcare sector dynamics of the European Union.
Unit Heater Market Report Segmentation Analysis
Key segments that contributed to the derivation of the unit heater market analysis are installation and product type.
- Based on installation, the market is segmented into horizontal unit heater, vertical unit heater, and suspended unit heater. The horizontal unit heater segment held a significant market share in 2023.
- In terms of product type, the market is segmented into gas fired, hydronic, electric, and others. The gas fired segment held a significant market share in 2023.
Unit Heater Market Share Analysis by Geography
The geographic scope of the unit heater market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
In Europe, technological advances, high industrialization, well-established infrastructure in construction, and a relatively high standard of living—particularly in Western Europe and the Nordic countries—favor market growth. Further, the cold climates for extended periods in this region contribute to the prominence of unit heaters, thus making it a considerable market for advanced HVAC systems. North America holds a significant share of the unit heater market owing to the large-scale investments made by the commercial sector, further aided by high awareness about energy-efficient heating solutions. Additionally, the Asia Pacific region is anticipated to experience notable traction and attractive growth rates attributed to rapid urbanization, industrialization, and increasing disposable incomes, fostering heightened demand for heating solutions across various sectors.
Unit Heater Market Report Scope
Unit Heater Market News and Recent Developments
The unit heater market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the unit heater market are listed below:
- Modine (NYSE: MOD), a leader in innovative heating solutions in the HVAC industry, has announced the launch of the MEW, a new corrosion-resistant electric unit heater that is designed to be used in non-hazardous washdown and corrosive environments. This new unit provides a heating option for use in farming and agriculture, food and beverage production, car wash, oil and gas, petrochemical and dairy industries.
(Source: MODINE MANUFACTURING COMPANY, Company Website, February 2024)
Unit Heater Market Report Coverage and Deliverables
The “Unit Heater Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Unit heater market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Unit heater market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Unit heater market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the unit heater market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Installation, Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The market is projected to record a CAGR of 5.4% during 2023–2031.
The market is expected to reach a value of US$ 6.33 billion by 2031.
Airtherm, Armstrong International Inc., Beacon Morris, Dunham-Bush Limited, KING ELECTRICAL MFG. CO, Kroll Energy GmbH, Reznor HVAC, Thermon Industries, Inc., Trane, and Turbonics, Inc. are key players in the market.
Energy conservation efforts are a key trend in the market.
Integration of smart technologies with unit heaters is driving the market.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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