According to the recent research report titled ‘Global Heating & Cooling Market Size By Category (Heating (Source {Electricity, District Heating, Biofuels & Waste, Renewables, Geothermal, Natural Gas, Oil Products, Coal}, Cooling)), By Application, Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report, global heating & cooling market exceeded USD 1 trillion in 2018 and is expected to represent an annual consumption of 60 Exa-Joule by the year 2025.
 

Strict energy efficiency concord, and incorporation of cogeneration technologies in buildings are propelling global heating & cooling market growth. Besides, key players opting for strategic alliances with technology partners to offer effective monitoring and control features is adding to the industry progression.
 

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Moreover, the industry growth will be fueled by large-scale suburban migration aided by continued industrial expansion across developing nations in accordance with increased disposable income and demographic shifts. Technological advancements, minimum thermal losses, fuel flexibility, long-term network deployment, and severe energy efficiency standards are anticipated to positively sway the industry dynamics.
 

Industry behemoths have come up with a slew of crucial technology and research platforms to keep up with technological advancements and increase their market share. Revenue generation through service offering, as well as long-term strategic tie-ups with utilities are considered to be a key revolutionizing factor in the vertical.
 

Speaking of category, global heating & cooling market share from district heating (DH) segment is slated to grow substantially over the coming years, as such infrastructure offers efficient fuel utilization and low thermal losses. Operational protection against leakages and reduction in conveyance loss have added to the demand for effective DH infrastructure in industrial units.
 

Coming to regional terrain, the United States industry share is projected to escalate by more than 2% through 2025. Surging demand for space heating and cooling equipment as well as increased consumer spending, on both the residential and commercial fronts, will boost the regional market development. Further, the business outlook will be bolstered by progressive initiatives to improve energy efficiency, along with favorable CO2 emission regulations.
 

Top companies defining the competitive landscape of global heating & cooling marketplace are Veolia Environnement S.A., SNC-Lavalin Group Inc., Fortum Oyj, Danfoss, Ingersoll Rand Inc., Haier Group Corp., Mitsubishi Corporation, Rheem Manufacturing Company, Trane Technologies Inc., Lennox International Inc., Johnson Controls, and Siemens AG among others.