Product Code: ETC022004 | Publication Date: Aug 2023 | Updated Date: Aug 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
The India heating equipment market import shipment demonstrated robust growth from 2020 to 2024, with a notable CAGR of 34.8%. Particularly impressive was the acceleration in growth from the period between 2023 and 2024, with a sharp increase of 106.0%. The market exhibited strong momentum and a clear upward trend, signifying significant expansion during the specified periods.
India heating equipment market is expected to grow at a healthy CAGR of 8.2% from 2025 to 2031. Rising demand for energy efficient heating solutions, increasing investments in residential and commercial infrastructure projects are some of the key factors driving the growth of India Heating Equipment Market over the forecast period. The growing disposable income in developing countries such as India has enabled consumers to shift towards higher quality heating products with advanced features such as smart control & remote monitoring and automatic temperature settings which is further contributing towards the market growth.
? Increasing Investments in Residential & Commercial Infrastructure Projects: Rapid urbanization has led to increasing construction activities resulting into rising need for residential and commercial properties across India which is likely to drive the demand for advanced heating equipments over the coming years.
? Growing Disposable Income: Growing disposable income among middle class households have enabled them to purchase premium quality home appliances including electric heaters, gas heaters, etc., due to affordability factor associated with these products. This factor is expected to boost the consumption rate of home appliances thereby propelling growth of India Heating Equipment Market during 2025-2031 .
High Cost Associated with Smart Heaters : Smart heaters come equipped with automated features such as remote control system and cost significantly more than conventional ones that may restrain its adoption among budget conscious customers . This factor could act as major challenge impeding further expansion opportunities for manufacturers operating in this industry space over next few years .
Rising Popularity Of Electric Heat Pumps : Electric Heat Pump (EHP) uses electricity instead fuel oil or natural gas making it environmentally sustainable option compared traditional HVAC systems . Also , EHP require minimal maintenance leading towards savings in operational costs along with increased efficiency level which makes them attractive choice resulting into surging adoption rates . Thus , rising popularity EHP?s will continue remain major trend witnessed within Indian Heating Equipment Market throughout analysis period .
Some top players identified operating within Indian Heating Equipment Market include Havells , Bajaj Electricals Ltd., Usha International Ltd., Glen Appliances Pvt Ltd., Crompton Greaves Consumer Electricals Limited , Khaitan Industries Pvt Ltd., Orient fans Pvt Ltd..etc,. These companies focus on product development through innovatively designed products complying stringent safety standards while expanding their geographical footprint across nation by forming strategic alliances.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Heating Equipment Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Heating Equipment Market Revenues & Volume, 2021 & 2031F |
3.3 India Heating Equipment Market - Industry Life Cycle |
3.4 India Heating Equipment Market - Porter's Five Forces |
3.5 India Heating Equipment Market Revenues & Volume Share, By Product, 2021 & 2031F |
3.6 India Heating Equipment Market Revenues & Volume Share, By Applications, 2021 & 2031F |
4 India Heating Equipment Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing urbanization and industrialization leading to higher demand for heating equipment in commercial and residential buildings. |
4.2.2 Government initiatives promoting energy efficiency and the adoption of cleaner heating technologies. |
4.2.3 Growing awareness about the benefits of using heating equipment for improved comfort and productivity. |
4.3 Market Restraints |
4.3.1 High initial cost of heating equipment and installation may deter potential buyers. |
4.3.2 Fluctuating raw material prices impacting the overall cost of heating equipment. |
4.3.3 Lack of skilled workforce for installation and maintenance of heating equipment. |
5 India Heating Equipment Market Trends |
6 India Heating Equipment Market, By Types |
6.1 India Heating Equipment Market, By Product |
6.1.1 Overview and Analysis |
6.1.2 India Heating Equipment Market Revenues & Volume, By Product, 2021-2031F |
6.1.3 India Heating Equipment Market Revenues & Volume, By Heat Pumps, 2021-2031F |
6.1.4 India Heating Equipment Market Revenues & Volume, By Furnaces, 2021-2031F |
6.1.5 India Heating Equipment Market Revenues & Volume, By Boilers, 2021-2031F |
6.1.6 India Heating Equipment Market Revenues & Volume, By Unitary Heaters, 2021-2031F |
6.1.7 India Heating Equipment Market Revenues & Volume, By Others, 2021-2031F |
6.2 India Heating Equipment Market, By Applications |
6.2.1 Overview and Analysis |
6.2.2 India Heating Equipment Market Revenues & Volume, By Residential, 2021-2031F |
6.2.3 India Heating Equipment Market Revenues & Volume, By Commercial, 2021-2031F |
6.2.4 India Heating Equipment Market Revenues & Volume, By Industrial, 2021-2031F |
7 India Heating Equipment Market Import-Export Trade Statistics |
7.1 India Heating Equipment Market Export to Major Countries |
7.2 India Heating Equipment Market Imports from Major Countries |
8 India Heating Equipment Market Key Performance Indicators |
8.1 Energy efficiency ratings of heating equipment. |
8.2 Number of government incentives or subsidies provided for the adoption of energy-efficient heating solutions. |
8.3 Adoption rate of smart heating technologies in the market. |
8.4 Number of skilled professionals certified in heating equipment installation and maintenance. |
8.5 Growth in demand for heating equipment in tier 2 and tier 3 cities in India. |
9 India Heating Equipment Market - Opportunity Assessment |
9.1 India Heating Equipment Market Opportunity Assessment, By Product, 2021 & 2031F |
9.2 India Heating Equipment Market Opportunity Assessment, By Applications, 2021 & 2031F |
10 India Heating Equipment Market - Competitive Landscape |
10.1 India Heating Equipment Market Revenue Share, By Companies, 2024 |
10.2 India Heating Equipment Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |