PUNE, India, December 7, 2017 /PRNewswire/ --
According to the new market research report on the "Heat Interface Unit Market by Component (Heat Exchangers, Controllers, Pumps, Sensors, and Valves), Product (Indirect and Direct), Application (Residential, Commercial, and Industrial), and Geography - Global Forecast to 2023", published by MarketsandMarkets™ , this market is expected to grow from USD 374.7 Million in 2017 to USD 591.3 Million by 2023, at a CAGR of 7.9% between 2017 and 2023. The major factors driving the growth of the heat interface unit market include the increasing supportive regulatory and legislative framework, growing use of district heating (DH) solutions, and increased adoption of smart homes in developing nations.
Browse 62 market data Tables and 38 Figures spread through 132 Pages and in-depth TOC on "Heat Interface Unit Market - Global Forecast to 2023"
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Heat exchangers are expected to hold the largest market size by 2023
Heat exchangers are likely to propel the heat interface unit market growth. In Indirect HIU type, two-plate heat exchangers are used. These heat exchangers keep secondary heating circuits separate from the primary heating circuits. As a result, this type of heat exchangers provide pressure break and better efficiency; hence, the growth of this market can be attributed to the growing demand for indirect HIUs from the residential, commercial, and industrial applications.
The market for the commercial application to grow at the highest CAGR during 2017-2023
The heat interface unit market for the commercial application is likely to grow at the highest CAGR during the forecast period. This growth is attributed to the need for better energy efficiency by commercial buildings, institutes, and offices.
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Indirect HIUs to hold a larger share of the heat interface unit market by 2023
Indirect HIUs are expected to contribute significantly to the heat interface unit market. Owing to the better operational efficiency, the market size of indirect HIUs is larger than that of direct HIUs. Advantages of using indirect HIUs include the clarity of primary and secondary circuits; primary and secondary circuits can be independently isolated for maintenance; and primary and secondary circuit water can be cleaned and inhibited separately. As a result, there are very few chances of pipe burst and water damage. Hence, indirect HIUs are widely used in all applications such as commercial, residential, and industrial.
The heat interface unit market in the Americas to grow at the highest CAGR during 2017-2023
The market in the Americas is expected to grow at the highest CAGR during the forecast period. The high growth can be attributed to the increasing use of energy-efficient products and government initiatives. For instance, the U.S. Green Building Council has initiated to develop an energy-efficient neighborhood by engaging district heating strategies, which will help to reduce energy use and adverse energy-related environmental effects. Through this initiation, the government is planning to incorporate a district heating system for space heating and/or water heating of new buildings (at least two buildings). As a result, at least for 80% of the construction projects, district heating solutions will be provided. These government initiatives are driving the heat interface unit market in the US.
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The report also profiles the most promising players in this market. The competitive landscape of the market presents an interesting picture where a large number of players have become a force to reckon with. The key players in this market are Armstrong Fluid Technology (Canada), Bosch (UK), Dutypoint (UK), Honeywell (Switzerland), Kingspan (Ireland), GIACOMINI (Italy), Docherty (UK), Caleffi (Italy), ALFA LAVAL (Sweden), Danfoss (Denmark), Reliance Worldwide Corporation (UK) , and Intatec (UK).
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