The global water-based heating & cooling systems market is expected to be valued at USD 37.7 billion in 2023 and is projected to reach USD 55.2 billion by 2028; it is expected to grow at a CAGR of 7.9% from 2023 to 2028. Product launches, acquisitions, partnerships, collaborations, strategic alliances, and expansions are the major growth strategies the market players adopt. These strategies have enabled them to efficiently fulfill the growing demand for water-based heating & cooling system from different end-user industries and expand their global footprint by offering products in all the major regions.
Key players operating in the water-based heating & cooling systems market are Daikin (Japan), Johnson Controls (US), Carrier Global Corporation (US), Trane Technologies (US), Fujitsu (Japan), Vasco Group (Belgium), JAGA N.V. (Belgium), Betherma BV (Netherlands), Purmo Group (Finland), Castrads Ltd. (UK), Eucotherm (UK), MHS Radiators (UK), Vertiv Holdings (US), Schneider Electric (France), Lennox International (US), Vaillant Group (Germany), Midea (China), Bosch Thermotechnik (Germany), ALFA LAVAL (Sweden), Electrolux (Sweden), Ferroli (Italy), Siemens (Germany), STIEBEL ELTRON (Germany), Glen Dimplex Group (Ireland), and Sigma Thermal (US).
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Daikin is a renowned global leader in the HVAC industry, specializing in innovative heating and cooling solutions. With a rich history spanning several decades, Daikin has established itself as a trusted brand known for its commitment to quality, reliability, and energy efficiency. The company offers a wide range of products, including cutting-edge water-based heating and cooling systems. Daikin’s water-based heating and cooling systems leverage advanced technology to provide efficient climate control solutions for both residential and commercial applications. These systems utilize water as a medium for transferring heat, offering numerous advantages such as enhanced energy efficiency, quiet operation, and reduced environmental impact.
Johnson Controls (US)
Johnson Controls is a globally recognized leader in the building technologies and solutions industry, offering a wide array of products and services. With a strong focus on sustainability and energy efficiency, Johnson Controls has become a trusted provider of water-based heating and cooling systems. Their water-based heating and cooling systems are designed to provide efficient and reliable climate control solutions for various applications. Johnson Controls offers a range of innovative products that leverage water as a medium for heat transfer, enabling enhanced energy efficiency and reduced environmental impact. One of their notable offerings is the water-cooled chillers, which are designed to provide efficient cooling for large-scale applications such as commercial buildings, hospitals, and industrial facilities. These chillers utilize water as a cooling medium, ensuring precise temperature control and high performance while reducing energy consumption.
Carrier Global Corporation (US)
Carrier offers a diverse range of products, including advanced water-based heating and cooling systems that provide efficient climate control solutions for residential, commercial, and industrial applications. Their water-based systems utilize water as a medium for heat transfer, offering numerous benefits such as energy efficiency, quiet operation, and environmental friendliness. One of Carrier’s notable products in this category is their water-cooled chillers. These systems are designed to provide reliable and energy-efficient cooling for large-scale applications, such as commercial buildings, hospitals, and data centers. By utilizing water as a cooling medium, Carrier’s water-cooled chillers ensure precise temperature control, high performance, and reduced energy consumption. Carrier also offers a range of water-source heat pumps, which extract heat from water sources such as lakes, rivers, or wells for heating purposes. These systems provide efficient heating during colder months and can be reversed for cooling in warmer seasons.
Water-based Heating & Cooling Systems Market by Heating (Heat Pump, Convector Heater, Radiator, Boiler), Cooling (Chiller, AHU, Cooling Tower, Tank), Cooling Type (Direct, Indirect), Implementation Type, Vertical & Region - Global Forecast to 2028
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