Gitnux/Report 2026

Heater Industry Statistics

302Statistics
105Sources
12Sections
1Visuals
50mRead
Samuel NorbergWritten by Samuel Norberg·Fact-checked by Maya Johansson
Published
How this report is researched
01Editorial Scope

Gitnux editors write the brief first: the topic, the inclusion rules, and the frame for what belongs.

02Source Research

Agents search the published record and log every extracted figure back to the passage it came from.

Read our full methodology →

Search agents attach provenance to every extracted figure.

Next review: within 39 days

01 Industry overview

The heater industry at a glance

The global heating-equipment market was estimated at $115.57 billion in 2025 and is shifting toward heat pumps, electrification, connected controls and higher-efficiency products.

$115.57B[85]
Global market size, 2025
6.3%[85]
Forecast CAGR, 2026–2034
3.6M units[86]
U.S. heat-pump shipments, 2025
35.6%[85]
Asia-Pacific market share, 2025
Market size
The global heating-equipment market was valued at $115.57 billion in 2025 and is projected to reach $120.95 billion in 2026. Estimates vary substantially by scope: another market study covering a narrower equipment definition put 2025 value at $43.44 billion.[85][87]
Forecast & CAGR
Fortune Business Insights forecasts the global market to reach $196.94 billion by 2034, implying a 6.3% CAGR from 2026 to 2034. The Business Research Company forecasts $57.88 billion by 2030 at a 5.9% CAGR, reflecting different market boundaries.[85][87]
Market share & regions
Asia-Pacific accounted for 35.6% of global heating-equipment revenue in 2025 in Fortune Business Insights’ estimate. Grand View Research reported a higher Asia-Pacific share of 43.5% in 2024, illustrating the effect of differing product and geographic definitions.[85][88]
Segmentation
The market is commonly segmented by product into boilers, heat pumps, furnaces and unit heaters; by fuel into oil, natural gas, electricity and biomass; and by application into residential, commercial and industrial uses. The residential segment represented 57.83% of market value in 2025 in Mordor Intelligence’s estimate.[85][89]
Key players & concentration
Major global participants include Johnson Controls, Midea, Carrier, Trane Technologies, Bosch, Panasonic, Mitsubishi Electric, Danfoss, Siemens and Daikin. In North American residential unitary HVAC, Daikin was estimated to hold a 20.0% share in 2025; a comparable global concentration ratio was not reliably disclosed.[85][90]
Trends, drivers & challenges
Electrification and heat-pump adoption are major growth drivers: U.S. manufacturers shipped 3.6 million heat pumps in 2025, 12% more than gas furnaces. Countervailing pressures include high interest rates, residential construction weakness, distributor inventory adjustments and the cost of switching refrigerants and equipment platforms.[86][25]
Consumer behavior & competition
In the United States, heat pumps have outsold gas furnaces consistently since 2021, and 54% of water-heater shipments were electric during the 2024–2025 tracking period. Competition is increasingly based on efficiency, low-global-warming-potential refrigerants, installer distribution and integrated heating-and-cooling systems.[86][25]
M&A
Johnson Controls completed the sale of its residential and light-commercial HVAC business to Bosch in August 2025 in a transaction valued at $8.1 billion. In June 2026, Lennox announced an agreement to acquire Heat Controller, expanding its North American heating, cooling, refrigeration and water-heating portfolio.[14][91]
Regulation
The European Union’s Regulation 2024/1103 introduced revised ecodesign requirements for local space heaters, with most new provisions applying from July 1, 2025. The European Commission estimates the rules could save 56 TWh of energy and 6.6 million tonnes of CO2-equivalent emissions cumulatively by 2040.[92][93]
Latest news
The latest major strategic development identified was Lennox’s June 18, 2026 agreement to acquire Heat Controller. The transaction is intended to broaden Lennox’s distribution reach and product offering across heating, cooling, indoor air quality, refrigeration and water heating.[91]
report visual · Projection

EU production value per quantity of non-electric heaters

EU production value per quantity of non-electric heaters fell from 0.2 EUR per piece in 2018 to 0.2 EUR per piece in 2023.

0.2 EUR per piece
Start
-3.93%
CAGR · 5y
0.2 EUR per piece
Projected
20182023
source-verifiedpublications.jrc.ec.europa.eu2023

02 Ranking

Top 10 Companies in the Heater Industry

The leading companies in the heater industry, ranked on market impact, performance, momentum, innovation and brand popularity.

Updated November 10, 2026 · Next review December 10, 2026

Verdict

Midea Group leads Gitnux's 2026 heater ranking with an Overall score of 9.2, with revenue growth 12.1% and operating margin 11.9%, plus R&D at 3.9% of revenue. Mitsubishi Electric is the runner-up at 8.9, with revenue growth 5% and operating margin 7.1%, backed by R&D at 4.1% of revenue.

Ranked by Overall score · How we score ↓

Editor's top 3 picks

Where to start, by need.

  1. #1 Overall · Leader in heat pump & HVAC equipment

    Midea Group

    CN

    Ranked #1 · 9.2 · Heat pump & HVAC equipment

    Why we picked it: It operates global HVAC businesses for heating solutions, supported by 12.1% revenue growth signals.

    See in ranking ↓Visit midea.com ↗

  2. #2 overall

    Mitsubishi Electric

    JP

    Ranked #2 · 8.9 · Heat pump & HVAC equipment

    Why we picked it: Its Life business includes air-conditioning and home heating products, with R&D at 4.1%.

    See in ranking ↓Visit mitsubishielectric.com ↗

  3. Leader in boilers & domestic heating

    Vaillant Group

    DE

    Ranked #3 · 8.9 · Boilers & domestic heating

    Why we picked it: Its heating segment covers heat pumps and boilers, developed and manufactured as heating technologies.

    See in ranking ↓Visit vaillant-group.com ↗

Pick 1 is the #1 company overall. Pick 2 is the highest-ranked company in the top 5 that adds a new segment; no further segment places in the top 5, so pick 3 follows rank.

Full ranking

Sort by
Top 10 companies in the heater industry, 2026 – Gitnux ranking
#CompanyOverall ↓Company snapshot
1

Midea Group

Heat pump & HVAC equipment · CN

9.2
2

Mitsubishi Electric

Heat pump & HVAC equipment · JP

8.9
3

Vaillant Group

Boilers & domestic heating · DE

8.9
4

Trane Technologies

Heat pump & HVAC equipment · IE

8.9
5

Bosch

Boilers & domestic heating · DE

8.8
6

Daikin Industries

Heating, heat pumps and HVAC systems · JP

8.6
7

Ariston Group

Water heating, boilers and heat pumps · IT

8.4
8

Carrier Global

Residential and commercial heating and HVAC · US

8.2
9

STIEBEL ELTRON

Heat pumps, water heaters and room heaters · DE

8.2
10

A. O. Smith

Water heaters and boilers · US

8.0

How we score

  • Impact (30%): scale and weight in the market (revenue, market share, employees, market position).
  • Performance (20%): recent revenue growth and operating margin; an analyst assessment where a company does not publish them.
  • Momentum (20%): growth trajectory and future potential.
  • Innovation (15%): R&D intensity and how technologically advanced the company is.

Popularity (brand search demand, 15%) counts toward Overall but is not published as a column. Overall leaves out what is not known.

Scale Scores are shown on a 7–10 scale with one decimal; bars start at 7.0.

Cadence Recalculated when new figures are published; next review December 10, 2026.

Independence. Rankings are editorially independent. Scores, ranks, picks and the verdict follow the method above; no company can pay to change them.

Cite this ranking

APA

Samuel Norberg. (2026, November 10). Top 10 companies in the heater industry. In Heater Industry Statistics. Gitnux. https://gitnux.org/heater-industry-statistics/#top-companies

04 Statistics

Technology & Innovation

Commercial real-estate adoption of HVAC AI and automated controls is tied to reported energy and runtime reductions, including a 95.9% average runtime reduction for baseboards in a Canadian HVAC installation.

AI in the heater industry

  • More than 100 million square feet of commercial real estate worldwide was being managed by BrainBox AI’s HVAC artificial-intelligence platform in 2023.[1]
  • 19% annualized gas-bill savings were reported for a 60,000-square-foot grocery store in Ontario, Canada, using BrainBox AI in 2023.[1]
  • 36% annualized HVAC energy savings were reported for a 275,556-square-foot shopping center in Australia using BrainBox AI in 2023.[1]
  • 91.2 metric tons of annual carbon-emissions reductions were reported for a Quebec multifamily tower using BrainBox AI in 2023.[1]
  • 388 metric tons of annual carbon-emissions reductions were reported for an Australian shopping center using BrainBox AI in 2023.[1]
  • 29% annualized HVAC energy savings were reported for a 300,000-square-foot office tower in Ontario, Canada, using BrainBox AI in 2023.[1]

Automation in the heater industry

  • 58% average runtime reduction was reported for AHU cooling-valve modulation in a Canadian shopping center using automated HVAC controls in 2023.[1]
  • 19.3% average boiler runtime reduction was reported for an office building in Alberta, Canada, using automated HVAC controls in 2023.[1]
  • 18% average runtime reduction was reported for heating stages during winter in a Canadian HVAC installation using automated controls in 2023.[1]
  • 95.9% average runtime reduction was reported for baseboards in a Canadian HVAC installation using automated controls in 2023.[1]
  • 20.5% average runtime reduction was reported for fresh-air handling-unit fan operation in an Australian office building using automated HVAC controls in 2023.[1]
  • 40% average runtime reduction was reported for make-up-air heating coils in an office building in Alberta, Canada, using automated HVAC controls in 2023.[1]

Digital Transformation in the industrial manufacturing sector (sector benchmark)

  • 32% of U.S. industrial-products respondents said their operations-technology investments had delivered expected results in 2024.[2]
  • 24% of companies across the European Industrial Ecosystem had a concrete digital-transformation strategy in 2024.[3]
  • 34% of industrial-manufacturing organizations across 26 countries had achieved return on investment from multiple AI use cases in 2024.[4]
  • 76% of industrial-manufacturing firms across 26 countries reported that their workforce had an appetite to embrace cutting-edge technology in 2024.[4]

Technology Adoption in the industrial manufacturing sector (sector benchmark)

  • 35% of industrial-manufacturing organizations were proactive in advancing data-and-analytics strategies in 2024.[5]
  • 37% of industrial-manufacturing organizations were proactive in advancing AI and automation strategies in 2024.[5]
  • 31% of industrial-manufacturing organizations were proactive in advancing modern-delivery technologies, including low-code and no-code, in 2024.[5]
  • 30% of industrial-manufacturing organizations were proactive in advancing edge-computing strategies in 2024.[5]

Cloud Computing in the industrial manufacturing sector (sector benchmark)

  • 39% of industrial-manufacturing organizations were proactive in advancing XaaS technologies, including public and multicloud, in 2024.[5]
  • 54% of EU manufacturing enterprises used paid cloud-computing services in 2025, up from approximately 45% in 2023.[6]
  • 87% of Finnish manufacturing enterprises used cloud computing in 2023.[7]
  • 87% of Australian manufacturing enterprises used cloud computing in 2022.[7]

Big Data in the industrial manufacturing sector (sector benchmark)

  • 28% of manufacturing survey respondents were implementing big-data processing in 2024, up 7 percentage points from 2023, according to an Auburn University study of 97 participants.[8]
  • 44% of manufacturing leaders reported that the amount of data their organizations collected had at least doubled over the previous two years in 2024.[9]
  • 67% of manufacturers surveyed in the United States, Germany and Malaysia could collect and analyze data in near real time in 2024.[10]
  • 70% of manufacturers still collected data manually in 2024, according to a Manufacturing Leadership Council survey reported by the National Association of Manufacturers.[11]
  • 60% of manufacturers surveyed could collect and normalize data from assets or equipment in 2024, across 461 decision makers in the United States, Germany and Malaysia.[10]
  • 57% of manufacturers used some form of artificial intelligence to analyze collected manufacturing data in 2024.[12]

05 Statistics

Data & Analytics

Building-software satisfaction data points to integration, centralized monitoring, and automated reporting as recurring drivers, while manufacturers cite siloed tools and poor data quality as blockers.

Business intelligence in the heater industry

  • 35% of respondents identified legacy-system integration as a key feature driving satisfaction and investment in building software in 2025.[13]
  • 31% of respondents reported that their building-management systems managed electrical-power distribution in 2025, alongside HVAC and other building functions.[13]
  • 27% of respondents reported that their building-management systems managed fire and life-safety functions in 2025, showing that HVAC intelligence increasingly sits within broader integrated platforms.[13]
  • 63% of respondents were very satisfied with integration between building software platforms in 2025, an indicator of business-intelligence usability for HVAC operations.[13]
  • 38% of respondents identified centralized monitoring and control as a key feature driving building-software satisfaction and future investment in 2025.[13]
  • 33% of respondents identified automated reporting and alerts as a key feature driving investment in smart-building software in 2025.[13]

Data analytics in the heater industry

  • 4.5% annual energy savings, equal to nearly 190,000 kWh, were achieved at the federal facility while automated controls operated for part of the year.[14]
  • 95% of operators became comfortable allowing autonomous HVAC optimization after gaining familiarity with the system in the cited GSA study.[15]
  • 33% peak-load reduction was achieved in Zurich’s urban heating network through AI-driven predictive control developed by Yuon, Energie 360° and Hoval.[16]
  • 5–11% energy savings were delivered by airside HVAC optimization in a multi-year U.S. General Services Administration study involving DOE, NREL and Lawrence Berkeley National Laboratory.[15]
  • 12% potential annual electricity savings were identified at a U.S. federal facility using OpenBlue plant optimization, Metasys automation and York chillers.[14]
  • 25% connected-capacity savings were achieved in Zurich’s urban heating network through AI-driven predictive control.[16]

Data Quality in the industrial manufacturing sector (sector benchmark)

  • 51% of manufacturers surveyed said their data was siloed across disparate tools and systems in 2025.[17]
  • 44% of manufacturers surveyed reported that AI projects had failed because of poor data quality in 2025.[17]
  • 61% of manufacturing leaders agreed that poor data quality limited adoption and optimization of emerging technologies in 2025.[18]
  • 41% of manufacturers surveyed distrusted the data used for supply-chain operations in 2025.[17]
  • 30% of manufacturers identified poor data quality as a technical barrier to improving processes in 2025.[18]
  • 54% of manufacturers surveyed had duplicate data in several systems in 2025.[17]

Data Governance in the industrial manufacturing sector (sector benchmark)

  • 61% of manufacturers surveyed had a corporate-wide governance plan, strategy or formal data-management guidelines in 2024.[12]
  • 15% of manufacturers surveyed said their data strategy was entirely aligned with their overall business strategy in 2024.[12]
  • 58% of manufacturers surveyed assigned primary data-governance responsibility to a C-suite or senior leader in 2024.[12]
  • 22% of manufacturers surveyed included data collection, management or analysis in executive incentives, KPIs or business imperatives in 2024.[12]

06 Statistics

Strategy & Growth

Growth strategy is increasingly shaped by integration targets and distribution expansion, including more than $200 million in cost synergies by year three for Viessmann Climate Solutions integration.

Growth in the heater industry

  • 65% was Carrier’s increase in adjusted operating profit from continuing operations in the fourth quarter of 2024.[19]
  • $4.2 billion was the approximate 2023 sales base from which Carrier forecast mid-single-digit growth for Viessmann Climate Solutions in 2024.[19]
  • 3 percentage points was the year-over-year increase in Europe’s share of newly installed heat generators represented by heat pumps in 2025.[20]
  • 20% of newly installed heat generators in Europe were heat pumps in 2025, according to Bosch Home Comfort.[20]
  • 2% was Carrier’s HVAC sales decline in Asia in 2024, primarily because of lower demand in China.[21]
  • More than $200 million in cost synergies by year three was Carrier’s target for the Viessmann Climate Solutions integration.[19]

Differentiation in the heater industry

  • 3 new commercial air-to-water heat-pump models were Panasonic’s planned European launch for September 2024.[22]
  • 1,519.1 million euros was Viessmann Climate Solutions’ 2022 revenue from Germany.[19]
  • 3,510 industrial workers was Viessmann Climate Solutions’ average industrial workforce in 2022.[19]
  • 701.0 million euros was Viessmann Climate Solutions’ 2022 residential gas-boiler revenue globally.[19]
  • 395.6 million euros was Viessmann Climate Solutions’ 2022 photovoltaic-systems and electronics revenue globally.[19]
  • 188.6 million euros was Viessmann Climate Solutions’ 2022 water-storage revenue globally.[19]

Mergers and acquisitions in the heater industry

  • 8.6 times EBITDA was the reported valuation multiple for the 2024 Airtron Heating & Air Conditioning acquisition.[23]
  • 18 add-on acquisitions had been completed by the referenced HVAC-services consolidator, including four in 2024.[23]
  • $500 million was the reported purchase price for Airtron Heating & Air Conditioning in 2024.[23]
  • $8 billion was Bosch’s announced purchase price for Johnson Controls’ residential and light-commercial HVAC solutions business and the Johnson Controls-Hitachi Air Conditioning joint venture.[24]
  • 21% was the contribution of Carrier’s Viessmann acquisition to 2024 HVAC net-sales growth.[21]
  • 30 countries was the international availability of F.A.T.I.’s electric-heating solutions before Thermon’s acquisition.[21]

Strategic partnerships in the heater industry

  • 2.8 million people live in Greater Manchester, the region covered by Daikin’s five-year low-carbon-heating collaboration.[25]
  • 1,500 heat pumps had been installed through the Greater Manchester and Daikin collaboration by 2025.[25]
  • 5 commitments did Daikin announce in 2024 to accelerate California heat-pump deployment.[25]
  • 4,200 people per year will be trainable at Daikin’s expanded Greater Manchester heat-pump training centre, up from 1,400.[25]
  • Minus 20 degrees Celsius is the low-temperature operating capability cited for Panasonic’s T-CAP technology in its A. O. Smith collaboration.[22]
  • 20 years is Panasonic’s stated experience selling hot-water heat pumps in overseas markets before its 2023 Reclaim Energy partnership.[26]

07 Statistics

People & Workforce

Workforce capacity and training are explicit constraints and investments, with Carrier targeting 1,000 service technicians to be hired in the U.S. over five years announced in 2025.

Hiring in the heater industry

  • 696 people worked for Harvia at the end of December 2024, up from 605 at the end of December 2023.[27]
  • 1,000 service technicians is Carrier’s five-year U.S. hiring target announced in 2025 for its HVAC workforce.[28]
  • 15,882 people worked for Vaillant Group at December 31, 2024, compared with 17,403 in 2023.[29]
  • 555 employees attended Daikin’s new-employee training camp in fiscal 2024, including 143 mid-career hires.[25]

Remote Work in the industrial manufacturing sector (sector benchmark)

  • Across U.S. manufacturing, 35.2% of surveyed workers reported remote work in the Chicago Fed Survey of Economic Conditions from July 2021 through March 2024.[30]
  • Across U.S. manufacturing, 19% of workers worked remotely, including hybrid and fully remote arrangements, during October 2023–September 2024.[31]
  • Across U.S. manufacturing, teleworked hours represented 12.2% of total hours worked in 2025.[32]
  • Across U.S. manufacturing, 36.9% of workers could work at home and 33.3% actually did so during 2024–2025.[32]

Hybrid Work in the industrial manufacturing sector (sector benchmark)

  • Across manufacturing companies, the average required office attendance reached 2.82 days per week in the second quarter of 2025.[33]
  • Across manufacturing companies, 17% were fully back in the office for non-production employees in 2025.[33]
  • Across manufacturing employers, 80% said their organizations were still struggling to balance hybrid working in 2025.[34]
  • Across manufacturing employees, 80% believed office mandates reflected a lack of trust that employees would be productive at home in 2025.[34]
  • Across manufacturing companies, 79% operated a hybrid model for non-production employees in 2025.[33]

Upskilling in the heater industry

  • 10 hours was Carrier’s average training completed per eligible employee in 2024.[28]
  • 136 employees participated in Daikin’s newly appointed manager training across its two fiscal-2024 sessions.[25]
  • 15,000 training hours had been delivered at Carrier’s Indianapolis residential HVAC training center since its 2023 opening.[28]
  • 100,000 HVAC technicians and sales professionals are targeted for additional Carrier training within five years of the 2025 TechVantage launch.[28]
  • 20,000 service technicians received Carrier HVAC training in the United States in 2024.[28]

Employee Engagement in the industrial manufacturing sector (sector benchmark)

  • Across manufacturing, distribution and storage organizations, 84.2% of employees said they cared about their organization’s future in 2026.[35]
  • Across manufacturing companies, 25% of respondents did not know whether their frontline workforce was engaged in 2023.[2]
  • Across manufacturing companies, 41% identified employee recognition as a high priority in 2024.[36]
  • Across manufacturing, distribution and storage organizations, the average employee-engagement score was 72.9% in 2026.[35]
  • Across manufacturing companies, 70% of respondents said most non-frontline employees were engaged in their jobs in 2023.[2]

DEI in the heater industry

  • 17 organizations responded to the Heat Networks Industry Council’s 2022 workforce survey on demographics, skills and inclusion.[37]
  • 23.9% of the U.S. workforce in the water, steam, air-conditioning and irrigation systems industry was women in 2024.[38]
  • 1,285 employees were covered by the Heat Networks Industry Council’s 2022 workforce diversity and inclusion survey.[37]
  • 77 nations were represented among Vaillant Group employees in 2024.[29]
  • 76.1% of the U.S. workforce in the water, steam, air-conditioning and irrigation systems industry was men in 2024.[38]

Change Management in the industrial manufacturing sector (sector benchmark)

  • Across organizations worldwide, 28% used an adaptive or agile change-management approach in 2024.[39]
  • Across organizations surveyed globally, 23% reported that their projects failed to meet adoption expectations in 2024.[39]

08 Statistics

Customer & Sales

Customer outcomes are measured in satisfaction, bill changes, and troubleshooting drivers, including 71% of California heat-pump customers reporting monthly energy bills decreased or stayed the same after installation in 2024.

Customer experience in the heater industry

  • 97% of ductless heat-pump customers and 91% of ducted heat-pump customers were very satisfied overall in California in 2024.[40]
  • 7% of California heat-pump customers rated their equipment as not a good value in 2024.[40]
  • 84% of ducted and 88% of ductless heat-pump customers rated cooling effectiveness at least 8 out of 10 in California in 2024.[40]
  • 71% of California heat-pump customers said their monthly energy bills decreased or stayed the same after installation in 2024.[40]
  • 92% of UK heat-pump users were satisfied with safety in a national user survey conducted in 2023.[41]

Customer retention in the heater industry

  • 10% of California heat-pump troubleshooting cases involved an electrical issue in 2024.[40]
  • 13% of California heat-pump troubleshooting cases involved thermostats in 2024.[40]
  • Repeat California heat-pump respondents were significantly more likely to rate their equipment as a great value in 2024 than in the previous survey wave.[40]
  • 29% of heat pumps in a U.S. Consumer Reports ownership survey had broken or stopped working by the end of year eight.[42]
  • 16% of California ductless heat-pump customers reported insufficient heating or cooling in certain spaces in 2024, a potential service-retention risk.[40]

Customer acquisition in the heater industry

  • 15% of U.S. heat-pump installers used partnerships frequently in 2024.[43]
  • 58% of California homeowners were aware of HVAC heat pumps in July 2023.[40]
  • 44% of U.S. heat-pump installers used online marketplace platforms frequently in 2024.[43]
  • 14% of U.S. heat-pump installers used events frequently in 2024.[43]
  • 50% of U.S. heat-pump installations were requested specifically as heat pumps in 2024.[43]

Customer loyalty in the heater industry

  • 92% of UK heat-pump users were satisfied with system safety in 2023, supporting positive loyalty perceptions.[41]
  • All 42 respondents in a U.S. cold-climate heat-pump study said they would recommend their heat pump to friends and family in 2022.[44]
  • 87% of UK heat-pump owners who previously used electric heating were as satisfied or more satisfied with the heat pump in 2023.[41]
  • 85% of UK heat-pump users were satisfied with system reliability in 2023, supporting positive loyalty perceptions.[41]
  • 90% of U.S. homeowners who owned a heat pump said they would recommend heat pumps to others in 2024.[45]

Lead generation in the heater industry

  • 23% of U.S. heat-pump installers used direct sales and advertising frequently in 2024.[43]
  • 40% of U.S. water-heating professionals preferred distributor outreach for training and business information in 2024.[46]
  • 40% of U.S. heat-pump installers did not use events in 2024.[43]
  • 89% of U.S. heat-pump installers did not use resellers in 2024.[43]
  • 85% of U.S. heat-pump installers did not purchase leads in 2024.[43]

09 Statistics

Marketing & Brand

Electrification marketing activity is tracked through site visits, impressions, and conversion counts, including 7 million visits recorded on the New York Clean Heat website since April 2021.

Marketing in the heater industry

  • 1,600 energy-efficiency and heat-pump installations were completed through New York community campaigns through 2025.[47]
  • 18 earned-media placements generated an estimated $1.6 million in equivalent advertising value for New York’s clean-heating campaign in 2025.[47]
  • 7 million visits had been recorded on the New York Clean Heat website since April 2021.[47]
  • 1.1 million visitors reached the New York State Clean Heat marketing campaign website in 2025, United States.[47]
  • 94% of surveyed U.S. electrification contractors expected heat-pump installations to grow over the following three years.[48]

Digital marketing in the heater industry

  • 104,903 clicks were generated by the Northwest Level Up heat-pump water-heater campaign in 2024.[49]
  • 1,379 consumer conversions were recorded by the Northwest Level Up campaign in 2024.[49]
  • 5.80% was the average conversion rate for Google AdWords search ads in a Northwest heat-pump water-heater campaign.[49]
  • 24.05 million impressions were delivered by the Northwest Level Up heat-pump water-heater campaign in 2024.[49]
  • 31% of consumers who knew about the Hot Water Solutions program in 2025 said internet advertising was their source of awareness.[49]

Branding in the heater industry

  • 15% of Canadian water-heater purchasers said the ENERGY STAR symbol had little influence on their purchase in 2020.[50]
  • 20% was the increase in rural heat-pump water-heater awareness associated with the 2022 Boring but Efficient campaign.[49]
  • 42% of Canadian water-heater purchasers said the ENERGY STAR symbol influenced their purchase in 2020.[50]
  • 19% of consumers were aware of the Northwest Hot Water Solutions program in 2021.[49]
  • 14% of consumers were aware of the Northwest Hot Water Solutions program in 2025.[49]

Social media in the heater industry

  • More than 30,000 views were generated by influencer content in New York’s clean-heating campaign in 2025.[47]
  • 21% of Northwest consumers who knew about Hot Water Solutions in 2025 said they heard about it from a contractor or installer.[49]
  • 4.3 million engagements were generated by paid Facebook, Instagram and Pinterest content in New York’s clean-heating campaign in 2025.[47]
  • 31.6 hours of watch time were generated by influencer content in New York’s clean-heating campaign in 2025.[47]
  • 27% of Northwest consumers who knew about Hot Water Solutions in 2025 said television advertising was their source of awareness.[49]

Influencer Marketing in the industrial manufacturing sector (sector benchmark)

  • Across B2B companies, 76% of marketing leaders said creator collaboration helps build brand authenticity in 2025; global survey scope.[51]
  • Across B2B companies, 29% of marketers planned to adopt influencer marketing within the following year in 2025; global survey scope.[51]
  • Among manufacturing marketers using paid channels, 19% used influencer marketing in the 12 months covered by the 2025 outlook survey; global manufacturing, survey conducted June–August 2024.[52]
  • Across B2B companies, 28% ranked thought leaders or industry analysts as the most effective influencer type in 2025; global survey scope.[51]
  • Across B2B companies, 43% of marketers planned to increase influencer investment in the following year in 2025; global survey scope.[51]

10 Statistics

Operations & Execution

Manufacturing throughput and configuration standardization show up in operational metrics, including 75% increased daily shipments of a custom heater produced by Spirax’s ETS business in 2025 after process changes.

Process optimization in the heater industry

  • 75% was the increase in daily shipments of a custom heater produced by Spirax’s ETS business in 2025 after introducing self-directed teams, lean workflows and a dedicated production line in Mexico.[53]
  • 60 weeks was reduced to six weeks for design-engineering lead time on larger North American heaters in 2025.[54]
  • 1.1 million water heaters was the Akashi Main Factory’s annual production capacity in Japan, where Noritz develops and manufactures water heaters.[55]
  • 20–30% of configuration variables were eliminated for each Chromalox heater in 2024 by standardizing base designs while retaining customer-specific requirements at the Ogden, Utah, USA facility.[54]

Operational efficiency in the heater industry

  • 67.95% was the capacity utilization rate of Tempsens Instruments’ electrical-heating-solutions vertical in fiscal 2025.[56]
  • 54.75% was the capacity utilization rate of Tempsens Instruments’ electrical-heating-solutions vertical in fiscal 2026.[56]
  • More than 20% was the increase in output from Spirax ETS heater factories over the two years to 2025 after improving throughput, welding, hydro-testing and production processes.[57]
  • -3.6% was the 2025 year-over-year change in output per worker for U.S. ventilation, heating, air-conditioning and commercial refrigeration equipment manufacturing.[58]

Quality management in the heater industry

  • 15 years was the limited warranty offered by A. O. Smith for certain residential water-heater products against scale-related failures.[59]
  • 16% of Noritz fully automated water heaters were equipped with bacteria-killing functions in 2021.[55]
  • 122 domestic production workers were dedicated to manufacturing Rinnai non-condensing gas-fired instantaneous water heaters in the United States in 2023.[60]
  • 12% of Noritz fully automated water heaters were equipped with bacteria-killing functions in 2020, rising from 6% in 2019.[55]

Supply chain in the heater industry

  • 60% was the planned capacity increase from Spirax Group’s Ogden, Utah, expansion for medium-voltage heater production, with first production scheduled for the second half of 2025.[57]
  • 20% or less of gas-fired instantaneous water heaters were estimated to be produced domestically in the United States, according to the U.S. Department of Energy’s 2024 analysis.[60]
  • US$58 million was Spirax Group’s planned investment in expanding the Chromalox Ogden, Utah, facility, adding 100,000 square feet and 60% of production capacity.[57]
  • Three manufacturing plants operated in Ciudad Juárez, Mexico, after A. O. Smith opened its third plant there in September 2024 to shorten the water-heater supply chain and manufacture tankless units in North America.[21]

Outsourcing / Offshoring in the industrial manufacturing sector (sector benchmark)

  • Across global manufacturing, 56% of executives in 2025 said their organization had invested in nearshoring or a combination of reshoring and nearshoring.[61]
  • Across EU enterprises engaged in international sourcing during 2021–2023, 37% operated in manufacturing, the largest sector share among sourcing enterprises.[6]
  • Across global manufacturing, executives expected offshore facilities to decline to 28% within three years of 2025, while onshore facilities rise to 48%.[61]
  • Across global manufacturing, 37% of facilities were offshore in 2024, compared with 41% onshore and 22% nearshore.[61]
  • Across global manufacturing, 73% of executives in 2025 believed friendshoring would represent a significant share of future sourcing and production.[61]

11 Statistics

Finance & Pricing

Pricing actions and margin outcomes are central under input and tariff pressure, including A. O. Smith’s announced 6%–9% average price increase for most North American water-heater products.

Pricing strategy in the heater industry

  • 1% was the decline in A. O. Smith’s 2024 North American water-heater sales despite pricing benefits.[21]
  • 6%–9% was A. O. Smith’s announced average price increase for most North American water-heater products in response to tariff, steel and input-cost increases.[62]
  • 87% of gas-fired pool-heater shipments were estimated to serve residential applications in the U.S. Department of Energy’s market analysis.[63]
  • 8% was the increase in A. O. Smith’s 2024 North American boiler sales, supported by higher-efficiency commercial products.[21]
  • 240 dollars per unit was the reported average global market price for specialty heaters in 2024.[64]

Cost reduction in the heater industry

  • 40 basis points was the 2025 improvement in A. O. Smith’s Rest of World segment margin after restructuring and cost-saving initiatives.[21]
  • 18 million dollars of A. O. Smith’s 2024 sales came from its 2024 and 2023 water-treatment acquisitions.[21]
  • 36.9% was Harvia’s 2024 growth rate for accessories and heater-stone revenue, which reached EUR 12.06 million.[57]
  • 10% was the 2024 sales growth in A. O. Smith’s priority dealer, e-commerce and direct-to-consumer water-treatment channels.[21]
  • 3%–5% was A. O. Smith’s expected 2025 growth rate for North American boiler sales, reflecting demand for higher-efficiency boilers.[21]

Profitability in the heater industry

  • 37.1 million euros was Harvia’s adjusted operating profit in 2024.[57]
  • 3.63 dollars was A. O. Smith’s 2024 diluted earnings per share.[21]
  • 38.1% was A. O. Smith’s consolidated gross-profit margin in 2024.[21]
  • 21.1% was Harvia’s adjusted operating-profit margin in 2022, providing a historical profitability comparison for the heater group.[57]
  • 24.0% was A. O. Smith’s North America segment margin in 2024.[21]

Financial planning in the heater industry

  • 0.75 euros per share was Harvia’s proposed 2024 dividend.[57]
  • 1.30 euros was Harvia’s 2024 basic earnings per share.[57]
  • 16.4% was Harvia’s 2024 revenue growth rate, driven especially by organic and inorganic North American growth.[57]
  • 25% was A. O. Smith’s estimated 2024 North America segment margin in its midyear financial planning outlook.[21]
  • 31.7 million euros was Harvia’s 2024 cash flow from operating activities.[57]

12 Statistics

Product & Service

Procurement thresholds and lifecycle expectations constrain product design and replacement cycles, including a 0.32 UEF minimum requirement for 120-volt integrated heat-pump water heaters under the U.S. federal procurement schedule in 2024.

Product development in the heater industry

  • 87% AFUE was the minimum U.S. federal procurement requirement for oil-fired boilers below 300,000 Btu/h in 2024.[63]
  • 230+ test rigs were operated at Vaillant Group’s technology center for heating-product testing and development in 2024.[29]
  • 40 test rigs were dedicated to heat-pump development at Vaillant Group’s technology center in 2024.[29]
  • 16,000 employees worked for Vaillant Group, a heating-technology manufacturer developing heat pumps, boilers, intelligent systems and services, in 2024.[29]
  • 2.20 UEF was the minimum requirement for 120-volt integrated heat-pump water heaters under the U.S. federal procurement schedule in 2024.[63]

Product lifecycle in the heater industry

  • 10 years was the estimated average lifespan of electric radiant heaters in the ASHRAE-based equipment table published by PNNL in 2017.[65]
  • 25 years was the assumed useful life of gas boilers in Vermont’s 2025 equipment analysis.[66]
  • 21.5 years was the assumed useful life of gas furnaces in Vermont’s 2025 space- and water-heating equipment analysis.[66]
  • 18 years was the median replacement age for residential boilers in the United States in ServiceTitan’s 2026 platform dataset.[67]
  • 15 years was the estimated average lifespan of electric boilers in the ASHRAE-based equipment table published by PNNL in 2017.[65]

After-sales in the heater industry

  • 38% of surveyed U.S. single-family homeowners had contacted a professional for heat-pump-water-heater repair or maintenance, according to NEEA’s 2026 evaluation.[49]
  • 54% of surveyed homeowners who had purchased a water heater within three years had contacted a professional service or repair provider, according to NEEA’s 2026 evaluation.[49]
  • 5% of surveyed heat-pump-water-heater purchasers had contacted a professional for service in NEEA’s earlier Northwest evaluation.[49]
  • $147 was the average out-of-pocket cost per heat-pump-water-heater service visit among purchasers who paid some or all of the cost in NEEA’s earlier evaluation.[49]
  • 1.7 maintenance-only calls were made per surveyed heat-pump-water-heater household on average, according to NEEA’s 2026 evaluation.[49]

Value proposition in the heater industry

  • $82 was the modeled annual energy cost of the best-available residential heat-pump water heater in the U.S. Department of Energy’s comparison.[63]
  • 3,437 kWh was the modeled annual energy use of the less-efficient residential water heater in the U.S. Department of Energy’s comparison.[63]
  • 984 kWh was the modeled annual energy use of the ENERGY STAR residential heat-pump water heater in the U.S. Department of Energy’s comparison.[63]
  • $340 was the modeled annual energy cost of the less-efficient residential water heater in the U.S. Department of Energy’s comparison.[63]
  • $792 was the modeled lifetime energy cost of the best-available residential heat-pump water heater in the U.S. Department of Energy’s comparison.[63]

13 Statistics

Sustainability & Ethics

Sustainability reporting links heater operations to emissions and incident metrics; Bosch reported 0.5 million tonnes of combined Scope 1 and 2 emissions in 2024.

Sustainability in the heater industry

  • 12.3 billion pounds of CO₂ emissions were reported saved by Intellihot’s commercial water-heating systems by 2024.[68]
  • 4.1 million electric heat pumps were shipped in 2024, compared with 3.1 million gas furnaces, according to Trane’s industry update.[69]
  • 20% was the potential household energy-use reduction cited for upgrading HVAC equipment in Trane’s sustainability discussion.[69]
  • 423 tonnes of CO₂e were reduced annually by a Trane HVAC analytics project for an industrial customer.[69]
  • 40% of energy consumed in U.S. non-residential buildings was associated with heating, ventilation and air-conditioning, according to AAON’s 2024 sustainability materials.[70]

ESG in the heater industry

  • 0.32 was Carrier’s total recordable incident rate in 2024.[71]
  • 46% of Carrier’s hazardous waste was recycled in 2024.[71]
  • 531,300 metric tonnes of CO₂ were offset by Bosch in 2024.[72]
  • 30% was Bosch’s absolute Scope 3 reduction target for 2030 against its 2018 baseline.[73]
  • 38% of Carrier’s U.S. residential HVAC sales met ENERGY STAR criteria in 2024.[71]

Ethics in the heater industry

  • 6 annual sustainability reports had been published by AAON by 2024, including coverage of governance, ethics and compliance.[70]
  • 1 ethics-and-compliance subject area was identified among AAON’s 2024 sustainability-reporting topics.[70]
  • 0.32 was Carrier’s employee total recordable incident rate in 2024.[71]
  • 3 governance topics—corporate governance, risk management and compliance—were separately reported by Daikin in 2024.[25]
  • 2 policy areas covering bribery and corruption and information security were included in Daikin’s 2024 governance reporting.[25]

CSR in the heater industry

  • 10 ESG themes were used by Daikin to structure its fiscal-2023 sustainability and corporate-responsibility reporting.[74]
  • 1 company-wide sustainability report was issued by A. O. Smith for 2024, described as its fourth report in six years.[75]
  • $10.1 million was donated by Carrier to communities through cash, in-kind donations and matching gifts in 2025.[76]
  • 0.14 was Carrier’s lost-time incident rate in 2025.[76]
  • 27,000-plus employee volunteer hours were logged by Carrier through its volunteer program in 2025.[76]

Circular economy in the heater industry

  • 1 circular-economy section was included in Daikin’s 2024 sustainability report, covering refrigerant recovery and circular product design.[25]
  • 1 circular-product-design and service-creation program was reported by Daikin in its 2024 sustainability report.[25]
  • 1 product-lifecycle-management metric in Carrier’s 2024 reporting covered the percentage of eligible products meeting ENERGY STAR criteria.[71]
  • 1 refrigerant eco-cycle was identified by Daikin as a core circular-economy initiative in its 2024 report.[25]
  • 617,570 tonnes of waste were generated by Bosch in 2024.[77]

Carbon footprint in the heater industry

  • 83.2 MWh per million euros of sales was Bosch’s 2024 energy intensity.[73]
  • 5.88 tonnes of CO₂e per million euros of sales was Bosch’s 2024 emissions intensity excluding carbon offsets.[73]
  • 135,000 tonnes of CO₂e were Bosch vehicle-fleet emissions in 2024.[73]
  • 0.5 million tonnes was Bosch’s combined Scope 1 and 2 emissions in 2024, according to its climate-action chart.[72]
  • 57,000 tonnes of CO₂e were Bosch volatile greenhouse-gas emissions in 2024.[73]

15 Statistics

Globalization & Expansion

Footprint and local production appear as supply-chain levers, including A. O. Smith serving approximately 80 countries in its 2023 global operating footprint.

Globalization in the heater industry

  • Approximately 80 countries were served by A. O. Smith in its 2023 global operating footprint.[21]
  • 10 Whirlpool manufacturing locations were in North America in 2024.[21]
  • 25.0% of Harvia’s 2024 revenue came from Northern Europe.[27]
  • 35.4% of Harvia’s 2024 revenue came from North America, its largest sales region.[27]
  • 53 companies comprised the Rinnai Group as of March 31, 2026, including 50 subsidiaries and two affiliated companies.[83]

Cultural adaptation in the heater industry

  • A. O. Smith began manufacturing water-treatment products in India in 2015 alongside its water-heater operations.[21]
  • Rinnai’s 2026 expansion principle was to produce and sell locally while hiring local personnel in each country.[83]
  • Rinnai’s United States sales increased 8.5% to ¥72,134 million in fiscal 2026, driven by core condensing water heaters.[83]
  • 9,400 points of sale served A. O. Smith customers in China in 2024, including retail and e-commerce channels.[84]
  • Rinnai’s Australian water-heater sales increased 20.3% in fiscal 2026 as demand shifted from gas to electric heat-pump appliances.[83]

Supplier management in the heater industry

  • Harvia centralized warehouse management in Muurame, Sweden and Austria during 2024 to optimize its heater supply chain.[27]
  • Watts Water Technologies completed life-cycle assessments covering all products made at its largest production plant and foundry in 2024.[21]
  • Harvia moved production of some sauna accessories to its own facility in China in 2024.[27]
  • Lennox stated that it partners with suppliers for raw materials and components used in heating and cooling products in 2025.[21]
  • A. O. Smith reported continued close contact with suppliers and logistics providers to resolve supply-chain constraints in 2023.[84]

Stakeholder management in the heater industry

  • Approximately 55% of Lochinvar-branded sales were boilers and related parts in 2024.[21]
  • A. O. Smith conducted a global employee-engagement survey on a biennial basis in 2023.[21]
  • Approximately 45% of Lochinvar-branded sales were residential and commercial water heaters in 2024.[21]
  • Four of the six largest U.S. national hardware and home-center chains were A. O. Smith retail customers in 2024.[21]
  • Lennox used company-owned distribution, independent distribution and direct sales to end users in the North American residential heating market in 2025.[21]

Distribution channels in the heater industry

  • A. O. Smith sold water-treatment products through dealer networks and Amazon in 2024.[21]
  • A. O. Smith sold products through approximately 4,400 retail outlets in Chinese tier-one through tier-three cities in 2024.[84]
  • Aquasana products were sold primarily direct to consumers through e-commerce channels in 2024.[21]
  • Lennox used three distribution approaches—company-owned, independent and direct-to-end-user—in North American residential heating in 2025.[21]
  • Lennox sold heating and cooling products through direct sales, distributors and company-owned parts and supplies stores in 2025.[21]

Key questions about the heater industry

How large is the global heating-equipment market in 2025 and 2026?
In 2025, the market was estimated at $115.57 billion. In 2026, it is projected to reach $120.95 billion.
What is the forecast growth rate for heating equipment through the late 2020s and beyond?
The forecast CAGR for 2026–2034 is 6.3%. The market is forecast to reach $196.94 billion by 2034.
Which companies lead the heater industry?
Midea Group leads Gitnux's 2026 heater ranking with an Overall score of 9.2, with revenue growth 12.1% and operating margin 11.9%, plus R&D at 3.9% of revenue. Mitsubishi Electric is the runner-up at 8.9, with revenue growth 5% and operating margin 7.1%, backed by R&D at 4.1% of revenue.
What technology shifts are reshaping heater demand?
Electrification and heat-pump adoption are major growth drivers, with the market shifting toward heat pumps and connected controls. U.S. manufacturers shipped 3.6 million heat pumps in 2025, 12% more than gas furnaces.
How is the market structured by product and application?
It is commonly segmented by product into boilers, heat pumps, furnaces and unit heaters, and by application into residential, commercial and industrial uses. Residential represented 57.83% of market value in 2025 in Mordor Intelligence’s estimate.
What operational and compliance pressures are affecting heater deployment?
Installer shortages constrain deployment, while European local space-heater rules raise compliance costs. The EU regulation could save 56 TWh of energy and 6.6 million tonnes of CO2-equivalent emissions cumulatively by 2040.
Reference

Cite This Report

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APA
Samuel Norberg. (2026, November 10). Heater Industry Statistics. Gitnux. https://gitnux.org/heater-industry-statistics
MLA
Samuel Norberg. "Heater Industry Statistics." Gitnux, 10 Nov 2026, https://gitnux.org/heater-industry-statistics.
Chicago
Samuel Norberg. 2026. "Heater Industry Statistics." Gitnux. https://gitnux.org/heater-industry-statistics.

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