Asia-Pacific Heating Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Asia-Pacific Heating Equipment market is segmented By Type (Boilers/Radiators/Other Heaters, Heat Pumps), by End User (Residential, Commercial, Industrial), and Country.

Asia-Pacific Heating Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

APAC Heating Equipment Market Size

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Asia-Pacific Heating Equipment Market Size
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2019 - 2023
CAGR 6.85 %
Market Concentration Medium

Major Players

Asia-Pacific Heating Equipment Market Major Players

*Disclaimer: Major Players sorted in no particular order

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APAC Heating Equipment Market Analysis

The Asia-Pacific Heating Equipment Market is expected to register a CAGR of 6.85% during the forecast period.

  • Significant drivers of the heating equipment market's growth over the projection period include the burgeoning construction industry in various emerging economies and the expanding end-user markets. A few advantages of heating equipment are energy efficiency, better outcomes, and lifespan. A few key reasons impacting the market's expansion are changes in urbanization, industrialization, and migration, which have increased the number of enterprises, manufacturing facilities, and residential complexes that employ heating equipment.
  • According to International Energy Agency (IEA), global district heating production was 16 EJ of heat in 2020, jumping 30% from the 2000 level at an annual compound growth rate of around 1.3%. The striking 2.3% increase from 2019 to 2020 was prompted mainly by China and partially by Korea (7% growth each).
  • The COVID-19 outbreak in 2020 and 2021 had a negative impact on the market's growth. Lockdowns were imposed on the region's governments in 2020 and 2021. As end users' activities were suspended, this had a negative effect on the market. Additionally, production has slowed down, and the supply chain has been disrupted, putting a strain on the region's demand for heating equipment.
  • Rapid urbanization in the region is driving the demand and pushing to switch to renewable energy sources for centralized heating and cooling, which can help meet rising urban energy needs, improve efficiency, reduce emissions and provide cost-effective temperature control. For instance, driven by urbanization, China has rapidly increased its use of centralized systems in its northern regions. The Asia Pacific heating Market is facing a significant challenge due to the high costs of the equipment.

APAC Heating Equipment Industry Overview

The Heating equipment market is quite competitive and consists of significant players. In terms of market share, a few prominent players currently dominate the market. Daikin Industries Ltd., Johnson Controls - Hitachi Air Conditioning Company, and Honeywell International, Inc. are some of the leading players operating in the Heating Equipment market.

  • November 2021-Honeywell stated that Zhejiang DunAn Artificial Environment Co., Ltd (DunAn Environment) will support the HVAC industry's transition to Solstice N41 (R-466A) by producing a compatible product range of HVAC components. DunAn manufactures refrigeration valves, heat exchangers, and pressure vessels for residential and commercial air conditioners, heat pumps, and refrigeration and freezing systems.
  • September 2021-Diehl Metering has opened a new Smart Heating Laboratory in Luoyang, China. The company aims to serve local clients more effectively, speed up innovation in smart heating, and organize operations in Central and West China through the lab.

APAC Heating Equipment Market Leaders

  1. Daikin Industries Limited

  2. Mitsubishi Electric Corporation

  3. Panasonic Corporation

  4. LG Electronics Inc.

  5. Johnson Controls–Hitachi Air Conditioning

  6. *Disclaimer: Major Players sorted in no particular order
Daikin Industries Limited, Mitsubishi Electric Corporation, Panasonic Corporation, LG Electronics Inc., Johnson Controls–Hitachi Air Conditioning
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APAC Heating Equipment Market News

  • January 2022- ServiceWhale, a Trevose software platform startup that automates estimates for home renovation projects, recently revealed a global tech partnership. It has joined forces with Noritz, a Japanese company that sells tankless water heaters all over the world. The goal of the partnership is for ServiceWhale to enhance the whole Noritz product line online shopping experience for customers.
  • July 2021 - Tema India Ltd. has appointed Inproheat Industries Ltd. as its authorized Western Canadian representative. Inproheat will represent Tema India Ltd. and its leading industrial shell & tube heat exchanger line and related products as part of this new venture.

APAC Heating Equipment Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definitions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Industry Attractiveness - Porters Five Forces Analysis
    • 4.2.1 Threat of New Entrants
    • 4.2.2 Bargaining Power of Buyers/Consumers
    • 4.2.3 Bargaining Power of Suppliers
    • 4.2.4 Threat of Substitute Products
    • 4.2.5 Intensity of Competitive Rivalry
  • 4.3 Value Chain / Supply Chain Analysis
  • 4.4 Assessment of the Impact of COVID -19 on the Market

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Growing Smart Cities in the Region
    • 5.1.2 Rising Urbanization and Industrialization
  • 5.2 Market Restraints
    • 5.2.1 High Costs of Equipment

6. MARKET SEGMENTATION

  • 6.1 By Type
    • 6.1.1 Boilers/Radiators/Other Heaters
    • 6.1.2 Heat Pumps
  • 6.2 By End User
    • 6.2.1 Residential
    • 6.2.2 Commercial
    • 6.2.3 Industrial
  • 6.3 Country
    • 6.3.1 China
    • 6.3.2 Japan
    • 6.3.3 South Korea
    • 6.3.4 India
    • 6.3.5 Other Countries

7. COMPETITIVE LANDSCAPE

  • 7.1 Company Profiles
    • 7.1.1 Daikin Industries Limited
    • 7.1.2 Mitsubishi Electric Corp
    • 7.1.3 Panasonic Corporation
    • 7.1.4 LG Electronics Inc.
    • 7.1.5 Johnson Controls-Hitachi Air Conditioning
    • 7.1.6 Whirlpool Corp.
    • 7.1.7 Danfoss A/S
    • 7.1.8 ROBERT Bosch GmbH
    • 7.1.9 Emerson Electric Co.
    • 7.1.10 ANHUI MISOURI ECO-ENERGY SOLUTION CO., LTD.
  • *List Not Exhaustive

8. INVESTMENTS ANALYSIS

9. FUTURE TRENDS

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APAC Heating Equipment Industry Segmentation

Asia Pacific Heating Equipment market is segmented By Type (Boilers/Radiators/Other Heaters, Heat Pumps), by End User (Residential, Commercial, Industrial), and country. The study further analyzes the overall impact of COVID-19 on the demand-side market dynamics and the ecosystem, in the near & short-term basis. The recent changes in trade scenario are also analyzed in the study.

By Type Boilers/Radiators/Other Heaters
Heat Pumps
By End User Residential
Commercial
Industrial
Country China
Japan
South Korea
India
Other Countries
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APAC Heating Equipment Market Research FAQs

What is the current Asia-Pacific Heating Equipment Market size?

The Asia-Pacific Heating Equipment Market is projected to register a CAGR of 6.85% during the forecast period (2025-2030)

Who are the key players in Asia-Pacific Heating Equipment Market?

Daikin Industries Limited, Mitsubishi Electric Corporation, Panasonic Corporation, LG Electronics Inc. and Johnson Controls–Hitachi Air Conditioning are the major companies operating in the Asia-Pacific Heating Equipment Market.

What years does this Asia-Pacific Heating Equipment Market cover?

The report covers the Asia-Pacific Heating Equipment Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Asia-Pacific Heating Equipment Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Asia-Pacific Heating Equipment Industry Report

Statistics for the 2025 Asia-Pacific Heating Equipment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Heating Equipment analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.