Global Heat Interface Unit Market estimated to grow at a CAGR of 6.73% to reach a value of US$513.511 million by 2025
Knowledge Sourcing Intelligence announces the publication of a new report on “Global Heat Interface Unit Market – Forecast from 2020 to 2025” to their offering.
Heat Interface Units are majorly installed in large complexes or apartments which consist of multiple dwelling units. Here, a central boiler provides domestic hot water and heating to the whole complex or apartment. Rapid urbanization is one of the key factors driving the growth of the market.
According to the report, the Global Heat Interface Unit Market is projected to increase at a CAGR of 5.29% over the forecast period 2019-2025. The market is poised to grow at a moderate CAGR throughout the forecast period on account of the rapid urbanization and the significant growth in residential construction during the coming years. Furthermore, the growing concerns towards the conservation of energy, especially in the developed economies is also projected to propel the demand for these systems throughout the forecast period. The rising focus on renewable energy is anticipated to propel the investments in R&D by manufacturers for developing solutions with integrated renewable energy systems. Moreover, the low costs associated with these systems both in terms of investments and ongoing maintenance is also one of the prime factors which is amplifying the adoption of these systems across the residential sector and add up to the growth of the market during the next five years.
The global heat interface unit market has been classified into the function, control type, application, and geography. The growing construction sector across the globe on account of rising disposable income and rising government initiatives to boom the residential construction and infrastructural development owing to the improving economic conditions are expected to be the key drivers to amplify the demand for these systems for the construction industry and add up to the growth of the market during the coming years. For instance in the United States, the total value of construction including the public and private for both residential and non-residential sectors has increased from USD$ 788,332 million in 2011 to USD$1,303,469 million by 2019 (Source: US Department of Commerce). Similarly, in the Middle East region, the government of the major countries like Saudi Arabia and UAE have their main focus in the development of commercial infrastructure which is indicated from the fact, there are various initiatives taken by the government of major countries like Saudi Vision 2030, UAE Vision 2021 and UAE Vision 2023 that include the construction of new hotels, airports, and metros which are also anticipated to positively impact the growth of the market during the forecast period and beyond.
The major players covered as part of the report are Dutypoint, Heatrae Sadia, ELCO Heating Solutions, Thermal Integration Ltd, Rhico, Intatec Limited, and Honeywell among others.
View a sample of the report or purchase a complete study at https://www.knowledge-sourcing.com/report/global-heat-interface-unit-market
In this report the Global Heat Interface Unit market has been segmented based on the following:
- Heating Only
- Heating with Domestic Hot Water Production (DHW)
By Control Type
- Proportional Hydraulic
- Middle East and Africa
- North America
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