As cited by the research report titled ‘Industrial & Residential Heating Market Size By Wood & Pellet Heating (Fireplaces, Catalytic Wood Stoves, Masonry Heaters, Boilers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, global industrial & residential heating market is projected to expand significantly with annual deployment reaching 2 million units by the year 2026.
 

Developing economy, coupled with ongoing industrialization & urbanization leading to rising standard of living are primarily driving the global industrial & residential heating market growth. Demand for wood & pellet heating appliances is growing due to the benefits like resource availability and low thermal losses. Moreover, increasing fund allocation for installation of heating systems in industrial & residential establishments across emerging economies that have extreme climatic conditions is likely to propel the business growth.
 

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Strict government rules related to energy security, regulatory focus toward smart building technologies, and advancements in product design, together with ongoing research & development activities are fostering the market share. In addition, high operational efficiency, less maintenance, and lower upfront cost are the important features bolstering the product demand.
 

Additionally, shifting focus towards adopting efficient heating technology, in consort with attributes of heating systems like economies of scale and better air quality are having a positive influence on the industry growth.
 

Rising expenditure for infrastructural development, coupled with continuous government efforts to reduce GHG emissions have considerably increased investments for establishment of sustainable technology, thereby enhancing the industry scenario.
 

On the basis of wood & pellet heating, worldwide industrial & residential heating industry is bifurcated into fireplaces, masonry heaters, catalytic wood stoves, and boilers.
 

Considering the regional framework, in Europe, growing concerns related to carbon emissions have increased the demand for clean and sustainable energy systems to limit harmful environmental impacts, thus augmenting the market scope. Moreover, extreme climatic conditions due to rising surface temperature across the South Asian nations and Europe has positively impacted the business scenario for prominent industry players.
 

Major players profiled in global industrial & residential heating industry report are Blaze King Industries Inc., Quadra-Fire Inc., Maine Wood Heat Co. Inc., American Masonry Heaters & Ovens Company LLC, Stove Master, Hearth + Timber, Ecco Stove, FeuerWerkstatt.Swiss GmbH, Masonry Heater Builders Ltd., Tiileri, Tulikivi Corporation, Ariston Thermo S.p.A., NIBE Industrier AB, Mitsubishi Hitachi Power Systems Ltd., Viessmann Group, Forbes Marshall Pvt Ltd, Hurst Boiler & Welding Co. Inc., Babcock & Wilcox Enterprises Inc., Chinvest SAS, Greenstone Heat Pumps & Underfloor Ltd., Regency Fireplace Products, and Jøtul AS.