United Kingdom Heating Equipment Market Size, Share, and COVID-19 Impact Analysis, By Product (Heat Pump, Unitary Heaters, Warm Air Furnaces, and Space Heating Boilers), By Application (Residential, Commercial, and Industrial), and United Kingdom Heating Equipment Market Insights, Industry Trend, Forecasts to 2033

United Kingdom Heating Equipment Market Insights Forecasts to 2033

• The United Kingdom Heating Equipment Market Size was valued at USD 5.2 Billion in 2023.
• The United Kingdom Heating Equipment Market Size is Growing at a CAGR of 5.64% from 2023 to 2033
• The United Kingdom Heating Equipment Market Size is Expected to reach USD 9.0 Billion by 2033

The United Kingdom Heating Equipment Market Size is anticipated to exceed USD 9.0 Billion by 2033, Growing at a CAGR of 5.64% from 2023 to 2033. The supportive government regulations, including incentives for saving energy through tax credit programs and replacement of existing equipment with better-performing ones, are driving the growth of the heating equipment market in the UK.     

Market Overview

The heating equipment market refers to the industry that produces and sells devices for generating and distributing heat. Various applications of heating equipment include home heating, industrial processes, and more. The device range from simple space heaters to complex central heating systems. The increasing prioritization of cost-effective and sustainable heating options leads to shifting trends towards advanced technologies like heat pumps, smart thermostats, and infrared heating systems. The emphasis on renewable energy sources, as well as the innovation in heating technology, is creating market opportunities for heating equipment. The innovation in heating technology for enhancing energy efficiency, reducing operational costs, and environmental impact is escalating the market growth opportunity.

Report Coverage

This research report categorizes the market for the UK heating equipment market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United Kingdom heating equipment market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the UK heating equipment market.

Driving Factors

The supportive government regulations for promoting the development and adoption of efficient and sustainable heating equipment are driving the market. The regulation includes incentives for saving energy through tax credit programs. Further, the use of technologically advanced equipment, which has reduced maintenance costs, improved efficiency, and increased productivity, is propelling the market growth.

 Restraining Factors

The increasing competition and increased initial cost of energy-efficient systems are challenging the heating equipment market.

Market Segmentation

The United Kingdom heating equipment market share is classified into product and application. 

• The heat pump segment dominated the market with the largest revenue share in 2023 and is expected to grow at a significant CAGR during the projected period.

The United Kingdom heating equipment market is segmented by product into heat pump, unitary heaters, warm air furnaces, and space heating boilers. Among these, the heat pump segment dominated the market with the largest revenue share in 2023 and is expected to grow at a significant CAGR during the projected period. There is increasing advancement in heat pump equipment, which includes monitoring and analyzing the performance of heat pump systems in real time. The energy efficiency and versatility of heat pumps are responsible for driving the market in the heat pump segment.

• The residential segment dominated the market with the largest revenue share in 2023 and is expected to grow at a significant CAGR during the projected period.

The United Kingdom heating equipment market is segmented by application into residential, commercial, and industrial. Among these, the residential segment dominated the market with the largest revenue share in 2023 and is expected to grow at a significant CAGR during the projected period. Heating equipment is primarily used for maintaining comfortable indoor temperatures and providing hot water. There is an increasing adoption of new heating technologies by customers due to an increased perception of energy conservation and environmental protection. The demand for efficient and comfortable home heating solutions is driving the market in the residential segment. 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the U.K. heating equipment market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Trane Inc.
• Aermec SpA
• Mitsubishi Electric Europe BV (Mitsubishi Electric Corporation)
• Clivet SpA
• Finn Geotherm UK Limited
• Daikin Industries Ltd.
• Systemair AB
• Swegon Group AB
• Rhoss SpA
• Robert Bosch Gmbh
• Danfoss A/s
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In May 2022, FortisBC launched a residential gas heat pump pilot project in B.C. FortisBC Energy is installing gas-fueled heat pumps in 20 residential homes across the Lower Mainland and Southern Interior–the first units of their kind to be installed in B.C. as part of a FortisBC pilot program.
• In March 2022, A group of researchers in the United Kingdom is developing a modular, multi-vector energy system that can be installed into new homes and retrofitted into existing buildings to provide seasonal heat storage.

Market Segment

This study forecasts revenue at U.K., regional, and country levels from 2020 to 2033. Spherical Insights has segmented the United Kingdom Heating Equipment Market based on the below-mentioned segments:

UK Heating Equipment Market, By Product

• Heat Pump
• Unitary Heaters
• Warm Air Furnaces
• Space Heating Boilers

UK Heating Equipment Market, By Application

• Residential
• Commercial
• Industrial