Water-Based Heating And Cooling Systems Market Expected to Hit $48.57 Billion by 2029, Growing at 7% CAGR

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What Is the Forecast Market Size and Growth Rate of the Water-Based Heating And Cooling Systems Market by Region?
The water-based heating and cooling systems market size has grown strongly in recent years. It will grow from $34.89 billion in 2024 to $37.06 billion in 2025 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to changing climatic conditions, growth in various industrial sectors, a growing number of retrofit and renovation projects, the need to mitigate the urban heat island effect in densely populated areas, increasing demand for heating, ventilation, and air conditioning (HVAC) systems in commercial buildings.

The water-based heating and cooling systems market size is expected to see strong growth in the next few years. It will grow to $48.57 billion in 2029 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to growing awareness of energy efficiency, stringent environmental regulations, rising demand for sustainable building solutions, urbanization and infrastructure development, government incentives, and rebate programs. Major trends in the forecast period include the integration of renewable energy sources, the integration of smart technologies, the convergence of heating, ventilation, and air conditioning (HVAC) systems with other building technologies, and product innovations.

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What Are the Key Drivers of the Water-Based Heating And Cooling Systems Market?
The increasing construction activities are expected to propel the growth of the water-based heating and cooling systems market going forward. The construction industry encompasses the processes of building, renovating, and maintaining structures and infrastructure, including residential, commercial, and industrial projects. The construction industry is rising due to increasing urbanization, population growth, and government investments in infrastructure development. Water-based heating and cooling systems are required in the construction industry for their energy efficiency, cost-effectiveness, and ability to provide consistent and comfortable indoor climate control in both residential and commercial buildings. For instance, in July 2024, according to the United States Census Bureau, a US-based government agency, the value of construction operations rose from $2.01 trillion in May 2023 to $2.14 trillion in May 2024. Therefore, the increasing construction activities are driving the growth of the water-based heating and cooling systems market.

Which Segment Offers the Highest Growth Opportunities in the Water-Based Heating And Cooling Systems Market?
The water-based heating and cooling systemsmarket covered in this report is segmented –

1) By Component: Heat Pump, Convector Heater, Radiator, Boiler, Chiller, Air Handling Unit (AHU), Cooling Tower, Expansion Tank
2) By Cooling Type: Direct Cooling, Indirect Cooling
3) By Implementation Type: New Construction, Retrofit
4) By End-User: Residential, Commercial, Industrial


Subsegments:
1) By Heat Pump: Ground Source Heat Pump, Air Source Heat Pump, Water Source Heat Pump
2) By Convector Heater: Hydronic Convector Heater, Electric Convector Heater
3) By Radiator: Panel Radiator, Column Radiator, Towel Radiator
4) By Boiler: Gas-Fired Boiler, Electric Boiler, Biomass Boiler, Oil-Fired Boiler
5) By Chiller: Air-Cooled Chiller, Water-Cooled Chiller
6) By Air Handling Unit (AHU): Packaged AHU, Modular AHU
7) By Cooling Tower: Open-Circuit Cooling Tower, Closed-Circuit Cooling Tower
8) By Expansion Tank: Diaphragm Expansion Tank, Bladder Expansion Tank

What Are the Top Trends Expected to Shape the Water-Based Heating And Cooling Systems Market by 2029?
Major companies operating in the water-based heating and cooling systems market prioritizing the development of advanced products such as CHP Solution to gain a competitive edge. A Combined Heat and Power (CHP) Solution refers to an integrated system that simultaneously generates electricity and useful thermal energy from a single fuel source, improving overall energy efficiency and reducing greenhouse gas emissions. For instance, in August 2023, Bloom Energy, a US-based green energy company, an advanced combined heat and power (CHP) solution for the Bloom Energy Server. The Bloom Energy Server is a high-efficiency energy generation system that utilizes solid oxide fuel cell technology to produce clean electricity and high-temperature steam. This innovative solution enables industrial and commercial customers to reduce their energy costs and carbon emissions while enhancing overall energy efficiency.

Who Are the Industry Leaders in the Water-Based Heating And Cooling Systems Market?
Major companies operating in the water-based heating and cooling systems market are Samsung Electronics, LG Electronics, Panasonic Corporation, Midea Group, Mitsubishi Electric Corporation, Haier Smart Home Co. Ltd., Gree Electric Appliances Inc., Daikin Industries Ltd., Johnson Controls International Plc, Carrier Corporation, Trane Technologies Plc, Danfoss Group, Kingspan Group, Lennox International Inc., A.O. Smith Corporation, Viessmann Group, Rheem Manufacturing Company, IMI Plc, Fujitsu General Global, Uponor Corporation, Weishaupt AG, Ferroli S.p.A., BDR Thermea Group, Vaillant Group, Bosch Thermotechnology

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https://www.thebusinessresearchcompany.com/report/water-based-heating-and-cooling-systems-global-market-report

Which Regions Are Driving the Most Demand in the Water-Based Heating And Cooling Systems Market?
North America was the largest region in the water-based heating and cooling systems market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the water-based heating and cooling systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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