The global unit heater market is expected to grow from US$ 3,740.3 million in 2021 to US$ 5,417.1 million by 2028; it is estimated to grow at a CAGR of 5.4% from 2021 to 2028.

A unit heater is a self-contained heating appliance that can run on a variety of energy sources. Hot water, steam, No. 2 fuel oil, propane, and natural gas are some of the energy sources that could be used. A heat exchanger, through which air from the heated room is blown, is usually included in the equipment. A blade fan or a squirrel cage fan can be used for this purpose. A squirrel cage fan has much higher airflows and blowing distances. Large spaces, such as workshops and engine rooms, are heated using unit heaters. Various factors contributing toward the market growth include growing commercial sector across the globe, increasing demand for energy-efficient unit heaters, and rising integration of unit heaters with smart technologies.

The unit heater market is segmented based on installation, application, product type, and geography. Based on installation, the market is segmented into horizontal unit heater, vertical unit heater, and suspended unit heater. The horizontal unit heater segment held the largest share of the global unit heater market. Based on application, the unit heater market is segmented into commercial, industrial, and residential. The commercial segment held the largest market share. Based on product type, the unit heater market is segmented into gas fired, hydronic, electric, and others. The hydronic segment accounted for a major share of the global unit heater market in 2020. Based on geography, the market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020 North America held the largest market share, followed by Europe and Asia Pacific. APAC is projected to register the highest CAGR in the unit heater market from 2021 to 2028.

Impact of COVID-19 Pandemic on Unit Heater Market

The COVID-19 outbreak has disrupted industries such as mining, manufacturing, healthcare, energy & power, aerospace & defense, and construction in 2020 and led to a significant decline in revenues. The implementation of containments measures such as travel restrictions, trade bans, and workforce limitation at workplaces has impacted manufacturing, supply, and sales of various businesses, including industrial equipment such as unit heaters.

The overall unit heaters market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the unit heaters market with respect to all the segments. It also provides the overview and forecast for the global unit heaters market based on all the segmentation provided with respect to five major regions-North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the unit heaters market. Major players operating in the global unit heaters market include 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.