The unit heater market in North America is expected to grow from US$ 1,236.18 million in 2021 to US$ 1,695.56 million by 2028; it is estimated to grow at a CAGR of 4.6% from 2021 to 2028.
The US, Canada, and Mexico are economies in North America. Major unit heater manufacturers are focusing on offering energy-efficient products that offer optimal heating, exhibit low maintenance and operational costs, and operate with decreased emission levels. For instance, Modine Manufacturing Company launched a new unit heater named Affinity, which features a dual heat exchanger, power exhauster, and separated combustion chamber, thereby emitting less CO2 levels and increases the overall heating efficiency.Rising demand for low-noise operations, integration of electric heaters with solar panels, growing use of sensors to automatically adjust the temperature, and elevated efficiency at lower costs are the factors driving the growth of the unit heaters market. The manufacturers are focusing on the implementation of new motor designs with low-noise fans, and the integration of thermostat, remote control option, and screen display in unit heaters. According to the US Department of Energy, several states in the country are adopting the state efficiency standards for unit heaters, which would further encourage the production of energy-efficient unit heaters. Hazloc Heaters developed an explosion-proof electric air heater for operations in hazardous conditions to meet the US and Canadian certification standards. The heater features spark-resistant fan assembly, which is in the quality standard of AMCA 99-10. Further, increase in demand for energy-efficient equipment in the food & beverages, manufacturing, chemicals, pharmaceutical, oil & gas, and other sectors is boosting the unit heater market growth. According to the US Energy Information Administration (EIA), the manufacturing sector accounted for ~77% of the industrial energy consumption. In addition, the growing replacement and maintenance of unit heaters are driving the demand for energy-efficient unit heaters.During late Q1 and entire Q2, the majority of the manufacturing facilities in North America operated with minimum staff or halted their manufacturing momentarily; the supply chain of components and parts were disrupted. According to the American Institute of Architects (AIA), the outbreak of COVID-19 has significantly impacted the construction industry in US. The construction activity declined in 2020 and the trend is likely to prevail in 2021. The construction activities in terms of hospitality industry are declined by approximately 20%, by 11% in commercial offices and approximately 8% in the retail sector. However, the construction of healthcare facilities and public safety have surged in 2020. The industries that install higher volumes of HVAC systems have been hit at various levels of degree by the COVID-19 pandemic. Hotels, hospitality, and restaurants have been struggling due to concerns over contracting the virus, even after they could reopen. The Canadian and Mexican unit heaters market also witnessed and are experiencing similar tremors owing the widespread of COVID-19 virus. The commercial sector in the two countries have been witnessing significant shocks. Apart from commercial sector, the residential HVAC systems industry in Canada and Mexico also observed decline in sales. Moreover, as the economies reponed and restriction measures were relaxed along with vaccine drive augment the growth of unit heaters market from 2021.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the unit heater market. The North America unit heater market is expected to grow at a good CAGR during the forecast period.
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North America Unit Heater Market Segmentation
North America Unit Heater Market – By Installation
- Horizontal Unit Heater
- Vertical Unit Heater
Suspended Unit Heater
North America Unit Heater Market – By Application
- Commercial
- Industrial
- Residential
North America Unit Heater Market -By Product Type
- Gas Fired
- Hydronic
- Electric
- Others
North America Unit Heater Market- By Country
- US
- Canada
- Mexico
North America Unit Heater Market-Companies Mentioned
- Airtherm
- Armstrong International Inc.
- Beacon Morris
- Dunham-Bush Limited
- KING ELECTRICAL MFG. CO.
- Kroll Energy GmbH
- Reznor HVAC
- Thermon Industries, Inc.
- Trane
- Turbonics, Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Unit Heater Market – By Installation
1.3.2 North America Unit Heater Market – By Application
1.3.3 North America Unit Heater Market – By Product Type
1.3.4 North America Unit Heater Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Unit Heater Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Unit Heater Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Demand for Energy Efficient Unit Heaters
5.1.2 Flourishment of Commercial Sector
5.2 Key Market Restraints
5.2.1 Carbon Emission Concerns
5.3 Key Market Opportunities
5.3.1 Advances In Design Complements Modern Infrastructure
5.4 Future Trends
5.4.1 Integration of Smart Technologies with Unit Heaters
5.5 Impact Analysis of Drivers and Restraints
6. Unit Heater Market – North America Analysis
6.1 North America Unit Heater Market Overview
6.2 North America Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
7. North America Unit Heater Market Analysis – By Installation
7.1 Overview
7.2 North America Unit Heater Market, By Installation (2020 and 2028)
7.3 Horizontal Unit Heater
7.3.1 Overview
7.3.2 Horizontal Unit Heater: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Vertical Unit Heater
7.4.1 Overview
7.4.2 Vertical Unit Heater: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Suspended Unit Heater
7.5.1 Overview
7.5.2 Suspended Unit Heater: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Unit Heater Market Analysis – By Application
8.1 Overview
8.2 North America Unit Heater Market, By Application (2020 and 2028)
8.3 Commercial
8.3.1 Overview
8.3.2 Commercial: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Industrial
8.4.1 Overview
8.4.2 Industrial: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Residential
8.5.1 Overview
8.5.2 Residential: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Unit Heater Market Analysis – By Product Type
9.1 Overview
9.2 Unit Heater Market Breakdown, by Product Type, 2020 & 2028
9.3 Gas-Fired
9.3.1 Overview
9.3.2 Gas-Fired Market Revenue and Forecast to 2028 (US$ Million)
9.4 Hydronic
9.4.1 Overview
9.4.2 Hydronic Market Revenue and Forecast to 2028 (US$ Million)
9.5 Electric
9.5.1 Overview
9.5.2 Electric Market Revenue and Forecast to 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others Market Revenue and Forecast to 2028 (US$ Million)
10. North America Unit Heater Market – Country Analysis
10.1 Overview
10.1.1 North America: Unit Heater Market, by Key Country
10.1.1.1 US: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 US: Unit Heater Market, by Installation
10.1.1.1.2 US: Unit Heater Market, by Application
10.1.1.1.3 US: Unit Heater Market, by Product Type
10.1.1.2 Canada: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Canada: Unit Heater Market, by Installation
10.1.1.2.2 Canada: Unit Heater Market, by Application
10.1.1.2.3 Canada: Unit Heater Market, by Product Type
10.1.1.3 Mexico: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 Mexico: Unit Heater Market, by Installation
10.1.1.3.2 Mexico: Unit Heater Market, by Application
10.1.1.3.3 Mexico: Unit Heater Market, by Product Type
11. North America Unit Heaters Market - COVID-19 Impact Analysis
11.1 Overview
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
13. Company Profiles
13.1 Turbonics, Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 KING ELECTRICAL MFG. CO.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Armstrong International Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Dunham-Bush Limited
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Reznor HVAC
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Trane
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Airtherm
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Beacon Morris
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Kroll Energy GmbH
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Thermon Industries,Inc.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. North America Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. North America Unit Heater Market, by Country – Revenue and Forecast to 2028 (USD Million)
Table 3. US: Unit Heater Market, by Installation –Revenue and Forecast to 2028 (US$ Million)
Table 4. US: Unit Heater Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 5. US: Unit Heater Market, by Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Unit Heater Market, by Installation – Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: Unit Heater Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada: Unit Heater Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. Mexico: Unit Heater Market, by Installation – Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico: Unit Heater Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 11. Mexico: Unit Heater Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 12. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Unit Heater Market Segmentation
Figure 2. North America Unit Heater Market Segmentation – By Country
Figure 3. North America Unit Heater Market Overview
Figure 4. Horizontal Unit Heater Segment Held the Largest Market Share Based on Installation
Figure 5. Commercial Segment Held the Largest Market Share Based on Application
Figure 6. Hydronic Segment Held the Largest Market Share Based on Product Type
Figure 7. US to Show Great Traction During Forecast Period
Figure 8. North America – Pest Analysis
Figure 9. Expert Opinion
Figure 10. North America Unit Heater Market Impact Analysis of Drivers and Restraints
Figure 11. North America Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. North America Unit Heater Market Revenue Share, by Installation (2020 and 2028)
Figure 13. North America Horizontal Unit Heater: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. North America Vertical Unit Heater: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. North America Suspended Unit Heater: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America Unit Heater Market Revenue Share, by Application (2020 and 2028)
Figure 17. North America Commercial: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. North America Industrial: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. North America Residential: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Unit Heater Market Breakdown, by Product Type (2020 and 2028)
Figure 21. North America Gas-Fired Market Revenue and Forecast to 2028(US$ Million)
Figure 22. North America Hydronic Market Revenue and Forecast to 2028(US$ Million)
Figure 23. North America Electric Market Revenue and Forecast to 2028(US$ Million)
Figure 24. North America Others Market Revenue and Forecast to 2028(US$ Million)
Figure 25. North America: Unit Heater Market, by Key Country-Revenue 2020 (US$ Million)
Figure 26. North America: Unit Heater Market Revenue Share, by Key Country (2020 and 2028)
Figure 27. US: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Canada: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Mexico: Unit Heater Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Impact of COVID-19 Pandemic in North America Country Markets
- Airtherm
- Armstrong International Inc.
- Beacon Morris
- Dunham-Bush Limited
- KING ELECTRICAL MFG. CO.
- Kroll Energy GmbH
- Reznor HVAC
- Thermon Industries, Inc.
- Trane
- Turbonics, Inc.
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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