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市场调查报告书
商品编码
1854124

热感系统市场按产品类型、最终用户、应用、技术、燃料类型、分销管道、组件和容量划分 - 全球预测 2025-2032

Thermal Systems Market by Product Type, End User, Application, Technology, Fuel Type, Distribution Channel, Component, Capacity - Global Forecast 2025-2032
出版日期: | 出版商: 360iResearch | 英文 194 Pages | 商品交期: 最快1-2个工作天内

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预计到 2032 年，热感系统市场规模将达到 962.1 亿美元，复合年增长率为 7.83%。

关键市场统计数据
基准年 2024 526.2亿美元
预计年份：2025年 568.4亿美元
预测年份 2032 962.1亿美元
复合年增长率 (%) 7.83%

建构现代化的热系统环境，其中脱碳、数位转型和供应链韧性至关重要。

热感系统产业正处于曲折点，政策要求、技术创新和业务韧性正在交汇融合，重塑製造商、营运商和服务供应商的策略重点。脱碳政策和电气化目标日益成为需求驱动因素，加速了低碳加热和冷却技术的应用，同时也提高了效率和可控性的技术门槛。同时，数位化正在催生新的服务模式和远距离诊断，提高资产运作和全生命週期性能，并拓展售后市场收入潜力。

供应链动态仍然是企业关注的核心，原物料价格波动和零件供应限制促使企业重新评估筹资策略。因此，企业需要在模组化设计、在地化生产和供应商多元化等中期投资与短期交付压力之间寻求平衡。同时，监管和标准环境也在不断演变。如今，合规途径涵盖了性能检验、排放限值和新的安全要求，这要求产品开发团队和认证团队儘早进行协调。

这些因素的综合影响需要采取一体化的策略应对措施。领导者必须调整产品系列、销售管道和服务能力，以实现合规性和商业性优势的双重目标。以下页面将对技术、商业和监管方面的变化进行全面分析，以帮助工程、采购和经营团队团队做出明智的决策。

识别监管压力、数位化创新和供应链再平衡这三股汇聚力量，它们正在重塑整个热力系统的产品和服务策略。

该行业正经历一系列变革时期，这些变革正在重塑竞争动态和投资重点。首先，脱碳政策和企业对净零排放的承诺正在加速从石化燃料资产向电气化和混合供热解决方案的转型，促使现有製造商调整其产品线和服务提案。其次，控制系统、物联网连接和数据分析技术的进步正在将被动式设备转变为附加价值服务平台，从而实现基于绩效的合约和预测性维护，并带来可衡量的总体拥有成本效益。

同时，能源系统整合为热能储存和灵活负载管理创造了机会，使热能资产能够参与电网服务和需求响应计画。此外，材料创新和模组化製造正在缩短开发週期，并支援跨多个容量等级的可扩展部署。地缘政治紧张局势和不断变化的贸易政策也在影响筹资策略，加速在地化和供应商多元化，以降低关税和物流中断的风险。

这些转变并非孤立存在，而是相互影响，贯穿产品设计、分销和售后服务等各个环节。因此，那些能够协调研发、商业策略和供应链规划的企业，将占据新价值池中不成比例的份额。调整产品架构、采用数位化优先的服务模式以及将基于情境的规划制度化，将有助于它们保持韧性和竞争力。

评估截至 2025 年的累积关税如何迫使热能产业进行采购转型、回流倡议和采用适应性产品设计策略。

2025年实施的关税措施产生了累积效应，波及采购、製造和部署的各个环节。某些零件和原材料关税的提高增加了目标商标产品製造商和供应商的投入成本，直接导致价格压力，并对合约谈判和保固条款产生间接影响。因此，一些买家和製造商正在加速策略采购转型，包括近岸外包、多供应商采购和签订长期供应商合同，以锁定产能并降低未来贸易政策波动的风险。

对于计划开发人员和最终用户而言，关税使规格选择变得更加复杂。决策者现在需要权衡总购置成本和全生命週期营业成本，以及未来政策变化的风险。这有利于那些允许灵活更换零件和模组化维修的设计，从而降低在浮动关税制度下的合规成本。同时，关税鼓励对国内组装和製造能力进行投资，缩短供应链并提高前置作业时间的可预测性，但也需要资本支出和劳动力发展。

在整个价值链中，缓解策略正在涌现，包括联合采购联盟、建立具有风险分担伙伴关係的长期供应商伙伴关係，以及加强价值工程以减少对关税敏感材料的依赖。最终，关税的累积影响正在加速采购和生产计画的结构性调整，加剧了情境规划和适应性产品架构的需求。

将产品、最终用户、应用、技术、燃料、通路、零件和产能等细分市场进行细分，以发现产品开发和服务设计的目标机会。

对市场区隔的深入理解揭示了技术性能、采购管道和最终用户期望的交汇点，从而创造了差异化的机会。产品类型将产业划分为锅炉、冷水机组、炉灶和热泵，不同的应用路径之间存在重要的技术差异。锅炉分为电锅炉、瓦斯锅炉和燃油锅炉，燃气锅炉又分为冷凝式和非冷凝式。这些产品层面的差异决定了控制设备、热交换器和隔热材料的工程优先级，并影响从小到大不同容量等级的维修策略。

将终端用户细分为商业、工业和住宅用户，可进一步细化需求讯号和预期服务。工业客户，例如化学、食品饮料、金属矿业以及石油天然气行业，要求系统在製程条件下具有稳健性，并严格遵守安全标准。住宅用户的需求又分为单户住宅和多用户住宅，两者在安装限制和管道偏好方面各有不同。基于应用领域的差异化包括：透过汽电共生和热网实现的区域供热；侧重于製冷、供暖和通风的暖通空调系统；透过复合迴圈、燃气涡轮机和蒸气涡轮等方式进行的发电；以及间歇式和连续式製程加热，每种方式都会产生不同的规格和服务范围。

技术和燃料类型的选择也影响价值提案。电力、燃气、混合动力、蒸气和热能储存技术涵盖了生物质、电力、天然气和石油等多种燃料选择，而售后市场、直销、目标商标产品製造商管道等分销管道则决定了客户互动模式和收入获取方式。压缩机、控制系统、热交换器和隔热材料等组件是提高效率和可维护性的关键因素，而容量细分（高、中、低容量等级）则影响模组化、安装物流和资金筹措结构。这些细分层级指南产品蓝图和通路策略，使企业能够将技术创新与消费者购买行为和现有生态系统的实际情况结合。

了解世界各地不同的政策、基础设施和供应链现状如何影响技术采纳和商业模式的优先事项。

美洲、欧洲、中东和非洲以及亚太地区的区域动态正在形成不同的战略要务，这些要务影响技术应用、监管合规和商业模式。在美洲，政策奖励和州级强制性规定推动了电气化和能源效率维修，而该地区监管环境的多样性则要求灵活的产品认证策略和本地化的服务生态系统。北美的需求通常受维修週期和韧性要求驱动，而拉丁美洲部分地区则优先考虑模组化、经济高效的解决方案，以应对电网可靠性波动和资金筹措。

在欧洲、中东和非洲，减排排放和严格的能源效率标准正在加速热泵、储热技术和区域供热网路的部署，相关的法规结构也奖励系统级整合和性能检验。欧洲、中东和非洲地区的市场环境为集设备、控制设备和能源管理服务于一体的整合产品创造了机会，而中东市场也优先考虑区域规模和高容量解决方案，以支援工业和公共产业应用。

亚太地区的发展轨迹各不相同。已开发经济体正大力推动电气化供暖和智慧控制的快速普及，而新兴市场则优先考虑扩充性、低成本的解决方案以及适合当地基础设施的耐用设计。在亚太部分地区，製造能力和供应链的接近性为成本竞争力强的生产提供了竞争优势，但区域关税动态和贸易路线仍然影响着采购决策。在所有地区，当地的管理体制、劳动市场和资金筹措结构都决定企业制定差异化的市场进入策略，而那些能够将产品模组化与当地合规性和服务能力结合的企业将获得最大的持久价值。

重点介绍产业参与者为确保价值持续流转而采取的策略性倡议，包括将硬体创新与服务、策略伙伴关係和模组化相结合。

该产业的竞争格局正从单纯依赖硬体差异化，转向更加重视产品创新、服务和策略伙伴关係。领先的供应商正从单纯销售设备拓展到整合服务模式，将效能保证、远端监控和基于结果的维护等服务打包在一起，以获取持续收入并深化客户关係。同时，技术供应商和组件供应商也在投资更高价值的系统工程能力和软体平台，以提升互通性并缩短试运行週期。

此外，整个生态系统的协作正在加速。供应商正与控制设备和软体公司合作，提供承包解决方案；服务提供者则在建立预测分析能力，以提高运作和延长资产寿命。整合和有针对性的收购正在弥合能力差距，尤其是在热能储存、数位孪生和先进热泵系统等领域；而合资企业则在无需完全承担市场准入风险的情况下，提供了进入区域製造和分销网络的途径。

为了保持竞争力，企业正优先考虑售后服务的垂直整合、产品供应多元化以及开发标准化、模组化的产品平台，以简化安装和服务。技术性能、强大的服务能力和灵活的商业条款的完美结合，能够增强客户忠诚度并创造稳定的收入来源。

提供高阶主管切实可行的建议，以增强韧性、加速电气化进程、实现服务货币化，同时降低供应链和政策风险。

产业领导者应采取务实的行动方案，既应对近期风险，也为中期结构转型做好准备。首先，透过多元化采购、区域製造伙伴关係和策略性库存缓衝，实现供应链多元化，进而降低关税波动和物流中断带来的风险。同时，优先考虑支援模组化维修和零件互换的产品架构，以便在无需更换整个系统的情况下，以可预测的前置作业时间完成现场升级。

第二，我们将加快电气化和热能储存能力的投资，同时开发可提供燃料使用弹性的混合动力解决方案。这些技术投资，结合可扩展的远端监控、预测性维护和客户参与数位平台，将建立持续的收入来源并提高资产运转率。第三，我们将重新构想强调生命週期价值的商业模式。这意味着引入基于绩效的合约、延长的服务协议和融资方案，以协调供应商和最终用户之间的奖励。这将有助于资金有限的买家接受这些方案，并提供长期的收入可见度。

最后，我们将投资于员工培训、认证项目，并与公用事业公司和标准组织建立合作关係，以促进合规并推动大规模应用。我们将实施基于情境的策略规划，以测试我们应对关税变化、监管更新和技术变革的措施。这些措施将增强我们的韧性，加速低碳解决方案的采用，并帮助我们在不断变化的环境中保持竞争力。

采用严谨的混合方法检验产业洞察，结合专家访谈、供应链图谱分析、标准分析和情境规划。

本研究结合定性和定量证据，提供了稳健且检验的分析。主要资料来源包括对来自商业、工业和住宅领域的工程负责人、采购人员、公用事业规划人员和服务供应商进行的结构化访谈，并辅以对产品规格和性能测试通讯协定的技术审查。次要分析则利用了监管文件、标准文件、专利揭露和公开的运作案例，以揭示技术发展轨迹和部署限制。

我们的调查方法利用供应链图谱追踪零件采购，并识别关税风险点。我们也运用情境规划来探索可能的政策和贸易环境，并评估韧性对采购和製造策略的影响。资料三角验证和交叉检验确保了多方资讯来源的洞察，而专家同行评审则提供了额外的品质保证。我们也承认研究的局限性：公开可用的营运数据因地区和应用而异，其粒度各不相同；专有绩效指标仅可透过供应商协议取得。

为了弥补这些局限性，本研究提供了敏感性分析，并鼓励与寻求客製化分析的相关人员进行有针对性的后续访谈。这种方法强调假设和方法的透明度，使读者能够根据其特定的技术、监管和商业性环境调整研究结果。

将敏捷性、模组化设计和服务驱动模式等策略要务相结合，以确保在不断变化的热能领域中获得竞争优势。

总之，热力系统格局正朝着兼顾脱碳、可靠性和商业性可行性的解决方案发展。技术发展方向倾向于电气化、更高的控制整合度和热能存储，而商业模式则转向以服务和结果为导向的绩效。供应链和贸易政策的动态带来了新的限制因素，但也催生了透过在地化和供应商多元化来增强韧性的策略性应对措施。

那些果断行动的领导者，透过将研发投资与服务导向商业模式结合并建构灵活的采购框架，最能掌握此次转型带来的价值。此外，整合能够实现预测性维护和效能基准化分析的数位化工具，可以降低营运风险并开拓新的收入来源。最后，严谨的情境规划和伙伴关係建置方法，有助于企业应对不确定性，并加速安全、可扩展地部署下一代热感管理解决方案。

组织敏捷性、模组化产品设计以及对生命週期成果的持续关注，将决定未来数年的竞争优势。能够将这些洞察转化为优先且可执行蓝图的相关人员，将巩固其市场地位，并在系统性能和成本效益方面实现可衡量的提升。

目录

第一章：序言

第二章调查方法

第三章执行摘要

第四章 市场概览

第五章 市场洞察

  • 在商业建筑围护结构中采用相变材料实现高效热能储存
  • 透过在工业热交换器网路中实施人工智慧驱动的预测性维护来减少停机时间
  • 透过在製造过程中整合废热回收系统和有机朗肯迴圈技术来提高能源效率
  • 为燃料电池和清洁能源应用开发氢能温度控管解决方案
  • 引入数位双胞胎模型，用于区域供热网路优化和城市电网动态负载平衡
  • 低温冷冻技术的进步使得高效能超导性量子运算系统成为可能。

第六章美国关税的累积影响，2025年

第七章 人工智慧的累积影响，2025年

第八章 依产品类型分類的热感系统市场

  • 锅炉
    • 电锅炉
    • 燃气锅炉
      • 冷凝
      • 非冷凝式
    • 燃油锅炉
  • 冷却器
    • 吸收
    • 空冷式
    • 水冷
  • 炉
    • 电炉
    • 瓦斯炉
  • 热泵
    • 空气源
    • 地下热源
    • 水源

第九章 依最终用户分類的热感系统市场

  • 商业的
    • 教育
    • 卫生保健
    • 饭店业
    • 零售
  • 产业
    • 化学品
    • 食品/饮料
    • 金属和采矿
    • 石油和天然气
  • 住宅
    • 多用户住宅
    • 独立式住宅

第十章 按应用分類的热感系统市场

  • 区域供热
    • 汽电共生
    • 热网路
  • 空调设备
    • 冷却
    • 加热
    • 通风
  • 发电
    • 复合循环
    • 燃气涡轮机
    • 蒸气涡轮
  • 製程加热
    • 批次
    • 常用表达

第十一章 按技术分類的热感系统市场

  • 电
  • 气体
  • 杂交种
  • 蒸气
  • 热能储存

第十二章 依燃料类型分類的热感系统市场

  • 生物质
  • 电
  • 天然气
  • 油

第十三章 依分销通路分類的热感系统市场

  • 售后市场
  • 直销
  • 间接销售
  • 原始设备製造商

第十四章热感系统市场（依组件划分）

  • 压缩机
  • 控制
  • 热交换器
  • 绝缘

第十五章热感系统市场：依容量划分

  • 大容量
  • 中等容量
  • 小容量

第十六章 各地区的热感系统市场

  • 美洲
    • 北美洲
    • 拉丁美洲
  • 欧洲、中东和非洲
    • 欧洲
    • 中东
    • 非洲
  • 亚太地区

第十七章热感系统市场：依组别划分

  • ASEAN
  • GCC
  • EU
  • BRICS
  • G7
  • NATO

第十八章 各国热感系统市场

  • 美国
  • 加拿大
  • 墨西哥
  • 巴西
  • 英国
  • 德国
  • 法国
  • 俄罗斯
  • 义大利
  • 西班牙
  • 中国
  • 印度
  • 日本
  • 澳洲
  • 韩国

第十九章 竞争情势

  • 2024年市占率分析
  • FPNV定位矩阵，2024
  • 竞争分析
    • Johnson Controls International plc
    • Carrier Global Corporation
    • Daikin Industries, Ltd.
    • Ingersoll Rand Inc.
    • Trane Technologies plc
    • Mitsubishi Electric Corporation
    • Lennox International Inc.
    • Honeywell International Inc.
    • Bosch Thermotechnology GmbH
    • Viessmann Werke GmbH & Co. KG
Product Code: MRR-FC36D0BA917C

The Thermal Systems Market is projected to grow by USD 96.21 billion at a CAGR of 7.83% by 2032.

KEY MARKET STATISTICS
Base Year [2024] USD 52.62 billion
Estimated Year [2025] USD 56.84 billion
Forecast Year [2032] USD 96.21 billion
CAGR (%) 7.83%

Framing the contemporary context for thermal systems where decarbonization mandates meet digital transformation and supply chain resilience imperatives

The thermal systems sector sits at an inflection point where policy imperatives, technological innovation, and operational resilience converge to reshape strategic priorities for manufacturers, operators, and service providers. Demand drivers are increasingly defined by decarbonization mandates and electrification goals, which are accelerating adoption of low-carbon heating and cooling technologies while raising the technical bar for efficiency and controllability. At the same time, digitalization is enabling new service models and remote diagnostics that expand aftermarket revenue potential while improving asset uptime and lifecycle performance.

Supply chain dynamics remain a central consideration as raw material volatility and component sourcing constraints prompt re-evaluation of procurement strategies. Consequently, firms are balancing near-term delivery pressures with medium-term investments in modular design, local manufacturing, and supplier diversification. Regulatory and standards environments are evolving in parallel; compliance pathways now incorporate performance verification, emissions limits, and new safety requirements that require earlier coordination between product development and certification teams.

Taken together, these forces require an integrated strategic response. Leaders must align product portfolios, distribution channels, and service capabilities to deliver both compliance and commercial advantage. In the pages that follow, the analysis synthesizes technological, commercial, and regulatory shifts to support informed decision-making across engineering, procurement, and executive teams.

Identifying the converging forces of regulatory pressure, digital innovation, and supply chain rebalancing that are reshaping product and service strategies across thermal systems

The industry is undergoing a series of transformative shifts that are redefining competitive dynamics and investment priorities. First, decarbonization policies and corporate net-zero commitments are accelerating the transition away from fossil-fuel-dominated assets toward electrified and hybrid thermal solutions, prompting incumbent manufacturers to retool product lines and service propositions. Second, advances in control systems, IoT connectivity, and data analytics are converting passive equipment into platforms for value-added services, enabling performance-based contracts and predictive maintenance that deliver measurable total cost-of-ownership benefits.

Concurrently, energy system integration is creating opportunities for thermal energy storage and flexible load management, allowing thermal assets to participate in grid services and demand-response programs. In addition, materials innovation and modular manufacturing are shortening development cycles and supporting scalable deployment across diverse capacity classes. Geopolitical tensions and trade policy shifts have also influenced sourcing strategies, accelerating localization and supplier diversification to mitigate exposure to tariffs and logistics disruptions.

These shifts are not isolated; they interact across product design, distribution, and after-sales service. Consequently, organizations that align R&D, commercial strategy, and supply chain planning will capture a disproportionate share of emerging value pools. The imperative is clear: adapt product architectures, embrace digital-first service models, and institutionalize scenario-based planning to remain resilient and competitive.

Assessing how cumulative tariff actions up to 2025 have forced procurement pivots, reshoring initiatives, and adaptive product design strategies across the thermal sector

Tariff measures implemented through 2025 have produced cumulative impacts that reverberate across procurement, manufacturing, and deployment timelines within the sector. Increased duties on select components and raw materials have raised landed input costs for original equipment manufacturers and suppliers, prompting immediate pricing pressure and second-order effects on contract negotiations and warranty provisions. As a result, some buyers and manufacturers have accelerated strategic sourcing shifts, including nearshoring, multi-sourcing, and longer-term supplier contracts to lock in capacity and reduce exposure to further trade policy volatility.

For project developers and end users, tariffs have complicated specification choices; decision-makers now weigh total acquisition and lifecycle operating costs against the risk of future policy changes. This is shaping a preference for designs that allow flexible component substitutions and modular retrofits, reducing the cost of compliance under variable tariff regimes. At the same time, tariffs have incentivized investment in domestic assembly and manufacturing capabilities, which can shorten supply chains and improve lead-time predictability but require capital expenditure and workforce development.

Mitigation strategies are emerging across the value chain. These include collaborative sourcing consortia, longer-term supplier partnerships with risk-sharing arrangements, and intensified value engineering to reduce reliance on tariff-sensitive materials. Ultimately, the cumulative impact of tariffs has accelerated structural adjustments in procurement and production planning, reinforcing the need for scenario planning and adaptable product architectures.

Deconstructing product, end-user, application, technology, fuel, channel, component, and capacity segments to reveal targeted opportunities for product development and service design

A nuanced understanding of segmentation illuminates where technical performance, procurement channels, and end-user expectations intersect and create differentiated opportunities. Product types divide the industry into boilers, chillers, furnaces, and heat pumps, with further technical distinctions that matter for adoption pathways; boilers include electric, gas, and oil variants, and gas boilers separate into condensing and non-condensing designs, while chillers span absorption, air-cooled, and water-cooled systems, furnaces distinguish between electric and gas options, and heat pumps encompass air-source, ground-source, and water-source architectures. These product-level distinctions drive engineering priorities for controls, heat exchangers, and insulation, and they shape retrofit strategies across capacity classes from small to large installations.

End-user segmentation - commercial, industrial, and residential - further refines demand signals and service expectations. Commercial buyers, such as education, healthcare, hospitality, and retail facilities, prioritize reliability, indoor-environment quality, and total-cost-of-ownership performance; industrial customers in chemical, food and beverage, metal and mining, and oil and gas contexts demand robustness under process conditions and adherence to stringent safety standards; residential demand splits between single-family and multi-family applications, each with distinct installation constraints and channel preferences. Application-based differentiation highlights where district heating with cogeneration and heat networks, HVAC systems focused on cooling, heating and ventilation, power generation using combined-cycle, gas turbine, and steam turbine approaches, and process heating in batch versus continuous operations create distinct specification and service footprints.

Technology and fuel-type choices also shape value propositions. Electric, gas, hybrid, steam, and thermal energy storage technologies map to fuel options such as biomass, electricity, natural gas, and oil, while distribution channels - aftermarket, direct sales, indirect sales, and original equipment manufacturer pathways - determine customer engagement models and revenue capture. Components including compressors, control systems, heat exchangers, and insulation are critical levers for efficiency and maintainability, and capacity segmentation into large, medium, and small classes influences modularity, installation logistics, and financing structures. Taken together, these segmentation layers guide product roadmaps and channel strategies, enabling firms to align technical innovation with the practical realities of purchasing behavior and installation ecosystems.

Unpacking how divergent policy, infrastructure, and supply chain realities across global regions create differentiated priorities for technology adoption and commercial models

Regional dynamics create distinct strategic imperatives that affect technology adoption, regulatory compliance, and commercial models across the Americas, Europe, Middle East & Africa, and Asia-Pacific. In the Americas, policy incentives and state-level mandates encourage electrification and energy efficiency retrofits, while the region's heterogeneous regulatory landscape requires flexible product certification strategies and localized service ecosystems. North American demand is often driven by retrofit cycles and resilience requirements, whereas parts of Latin America emphasize modular and cost-effective solutions that accommodate variable grid reliability and financing constraints.

In Europe, Middle East & Africa, policy alignment on emissions reduction and stringent efficiency standards are accelerating uptake of heat pumps, thermal energy storage, and district heating networks, with regulatory frameworks that incentivize system-level integration and performance verification. The EMEA landscape presents opportunities for integrated offerings that combine equipment, controls, and energy management services, while middle-eastern markets also prioritize district-scale and large-capacity solutions to support industrial and utility-scale applications.

Asia-Pacific displays diverse trajectories: advanced economies push fast adoption of electrified heating and smart controls, while emerging markets prioritize scalable, low-capital solutions and durable designs suited to local infrastructure. Manufacturing capacity and supply chain proximity in parts of Asia-Pacific provide competitive advantages for cost-competitive production, yet regional tariff dynamics and trade routes continue to shape sourcing decisions. Across all regions, local regulatory regimes, labor markets, and financing structures dictate differentiated go-to-market plans, and companies that align product modularity with regional compliance and service capabilities will capture the most durable value.

Highlighting strategic moves by industry participants who combine hardware innovation with services, strategic partnerships, and modularity to secure recurring value streams

Competitive dynamics within the sector emphasize product innovation, service offerings, and strategic partnerships more than sole reliance on hardware differentiation. Leading providers are expanding beyond equipment sales into integrated service models that bundle performance guarantees, remote monitoring, and outcome-based maintenance, thereby capturing recurring revenue and deepening customer relationships. Concurrently, technology vendors and component suppliers are investing in higher-value systems engineering capabilities and software-enabled platforms to facilitate interoperability and to shorten commissioning cycles.

In addition, collaboration across the ecosystem is accelerating. Suppliers are forming alliances with controls and software firms to deliver turnkey solutions, and service providers are building capabilities in predictive analytics to improve uptime and extend asset life. Consolidation and targeted acquisitions are being used to close capability gaps, particularly in areas such as thermal energy storage, digital twins, and advanced heat pump systems, while joint ventures enable access to regional manufacturing and distribution networks without bearing full market-entry risk.

To remain competitive, firms are prioritizing vertical integration of aftermarket services, diversification of component supply, and the development of standardized, modular product platforms that simplify installation and servicing. Firms that successfully combine technical performance with robust service delivery and flexible commercial terms will strengthen customer lock-in and create defensible revenue streams.

Actionable, pragmatic recommendations for executives to enhance resilience, accelerate electrification, and monetize services while mitigating supply chain and policy risks

Industry leaders should adopt a pragmatic portfolio of actions that address near-term risks while positioning organizations for medium-term structural change. First, diversify supply chains through multi-sourcing, regional manufacturing partnerships, and strategic inventory buffering to reduce exposure to tariff-induced volatility and logistics disruptions. Concurrently, prioritize product architectures that enable modular retrofits and component interchangeability so that field upgrades do not require full-system replacement and can be executed with predictable lead times.

Second, accelerate investment in electrification and thermal energy storage capabilities, while developing hybrid solutions that offer flexibility in fuel use. These technical investments should be paired with scalable digital platforms for remote monitoring, predictive maintenance, and customer engagement to establish recurring revenue streams and improve asset uptime. Third, reconfigure commercial models to emphasize lifecycle value: introduce performance-based contracts, extended service agreements, and financing options that align incentives between vendors and end users. This will support adoption among constrained buyers and create longer-term revenue visibility.

Finally, invest in workforce training, certification programs, and partnerships with utilities and standards bodies to smooth regulatory compliance and to facilitate large-scale deployments. Implement scenario-based strategic planning to test responses to tariff changes, regulatory updates, and technology disruptions. Taken together, these actions will enhance resilience, accelerate adoption of low-carbon solutions, and preserve competitive positioning in an evolving landscape.

Explaining a rigorous mixed-methods approach combining expert interviews, supply chain mapping, standards analysis, and scenario planning to validate sector insights

This research combines qualitative and quantitative evidence streams to produce a robust, validated analysis. Primary inputs include structured interviews with engineering leaders, procurement heads, utility planners, and service providers drawn from commercial, industrial, and residential segments, supplemented by technical reviews of product specifications and performance testing protocols. Secondary analysis draws on regulatory filings, standards documentation, patent disclosures, and publicly available operational case studies to contextualize technology trajectories and deployment constraints.

The methodology employs supply chain mapping to trace component sourcing and to identify tariff exposure points, while scenario planning techniques explore plausible policy and trade environments to assess resilience implications for procurement and manufacturing strategies. Data triangulation and cross-validation ensure that insights are corroborated across multiple sources, and peer review by subject-matter experts provides an additional quality assurance layer. Limitations are acknowledged: publicly disclosed operational data vary in granularity across regions and end uses, and proprietary performance metrics may only be available through vendor engagement.

To mitigate these constraints, the study offers sensitivity analyses and recommends targeted follow-up interviews for stakeholders seeking bespoke analysis. The approach emphasizes transparency in assumptions and methods so that readers can adapt findings to specific technical, regulatory, and commercial contexts.

Summarizing the strategic imperative for agility, modular design, and service-driven models to secure competitive advantage in the evolving thermal landscape

In conclusion, the thermal systems landscape is converging toward solutions that balance decarbonization, reliability, and commercial viability. Technological trajectories favor electrification, greater control integration, and thermal energy storage, while commercial models are shifting to emphasize services and outcome-based performance. Supply chain and trade policy dynamics have introduced new constraints, but they have also catalyzed strategic responses that strengthen resilience through localization and supplier diversification.

Leaders who act decisively by aligning R&D investments with service-oriented commercial models, and who build flexible procurement frameworks, will be best positioned to capture the value of this transition. Moreover, integrating digital tools that enable predictive maintenance and performance benchmarking will both reduce operational risk and unlock new revenue streams. Finally, a disciplined approach to scenario planning and partnership formation will help organizations manage uncertainty and accelerate safe, scalable deployment of next-generation thermal solutions.

The evidence is clear: organizational agility, modular product design, and a relentless focus on lifecycle outcomes will determine competitive differentiation in the years ahead. Stakeholders that translate these insights into prioritized, executable roadmaps will strengthen their market position and deliver measurable improvements in system performance and cost-effectiveness.

Table of Contents

1. Preface

  • 1.1. Objectives of the Study
  • 1.2. Market Segmentation & Coverage
  • 1.3. Years Considered for the Study
  • 1.4. Currency & Pricing
  • 1.5. Language
  • 1.6. Stakeholders

2. Research Methodology

3. Executive Summary

4. Market Overview

5. Market Insights

  • 5.1. Adoption of phase change materials for efficient thermal energy storage in commercial building envelopes
  • 5.2. Implementation of AI-driven predictive maintenance in industrial heat exchanger networks to reduce downtime
  • 5.3. Integration of waste heat recovery systems with organic rankine cycle technology in manufacturing to improve energy efficiency
  • 5.4. Development of hydrogen-compatible thermal management solutions for fuel cells and clean energy applications
  • 5.5. Deployment of digital twin modeling for optimizing district heating networks and dynamic load balancing across urban grids
  • 5.6. Advances in cryogenic refrigeration technologies enabling high-performance superconducting quantum computing systems

6. Cumulative Impact of United States Tariffs 2025

7. Cumulative Impact of Artificial Intelligence 2025

8. Thermal Systems Market, by Product Type

  • 8.1. Boilers
    • 8.1.1. Electric Boilers
    • 8.1.2. Gas Boilers
      • 8.1.2.1. Condensing
      • 8.1.2.2. Non Condensing
    • 8.1.3. Oil Boilers
  • 8.2. Chillers
    • 8.2.1. Absorption
    • 8.2.2. Air Cooled
    • 8.2.3. Water Cooled
  • 8.3. Furnaces
    • 8.3.1. Electric Furnaces
    • 8.3.2. Gas Furnaces
  • 8.4. Heat Pumps
    • 8.4.1. Air Source
    • 8.4.2. Ground Source
    • 8.4.3. Water Source

9. Thermal Systems Market, by End User

  • 9.1. Commercial
    • 9.1.1. Education
    • 9.1.2. Healthcare
    • 9.1.3. Hospitality
    • 9.1.4. Retail
  • 9.2. Industrial
    • 9.2.1. Chemical
    • 9.2.2. Food And Beverage
    • 9.2.3. Metal And Mining
    • 9.2.4. Oil And Gas
  • 9.3. Residential
    • 9.3.1. Multi Family
    • 9.3.2. Single Family

10. Thermal Systems Market, by Application

  • 10.1. District Heating
    • 10.1.1. Cogeneration
    • 10.1.2. Heat Network
  • 10.2. HVAC
    • 10.2.1. Cooling
    • 10.2.2. Heating
    • 10.2.3. Ventilation
  • 10.3. Power Generation
    • 10.3.1. Combined Cycle
    • 10.3.2. Gas Turbine
    • 10.3.3. Steam Turbine
  • 10.4. Process Heating
    • 10.4.1. Batch
    • 10.4.2. Continuous

11. Thermal Systems Market, by Technology

  • 11.1. Electric
  • 11.2. Gas
  • 11.3. Hybrid
  • 11.4. Steam
  • 11.5. Thermal Energy Storage

12. Thermal Systems Market, by Fuel Type

  • 12.1. Biomass
  • 12.2. Electricity
  • 12.3. Natural Gas
  • 12.4. Oil

13. Thermal Systems Market, by Distribution Channel

  • 13.1. Aftermarket
  • 13.2. Direct Sales
  • 13.3. Indirect Sales
  • 13.4. Original Equipment Manufacturer

14. Thermal Systems Market, by Component

  • 14.1. Compressor
  • 14.2. Control
  • 14.3. Heat Exchanger
  • 14.4. Insulation

15. Thermal Systems Market, by Capacity

  • 15.1. Large Capacity
  • 15.2. Medium Capacity
  • 15.3. Small Capacity

16. Thermal Systems Market, by Region

  • 16.1. Americas
    • 16.1.1. North America
    • 16.1.2. Latin America
  • 16.2. Europe, Middle East & Africa
    • 16.2.1. Europe
    • 16.2.2. Middle East
    • 16.2.3. Africa
  • 16.3. Asia-Pacific

17. Thermal Systems Market, by Group

  • 17.1. ASEAN
  • 17.2. GCC
  • 17.3. European Union
  • 17.4. BRICS
  • 17.5. G7
  • 17.6. NATO

18. Thermal Systems Market, by Country

  • 18.1. United States
  • 18.2. Canada
  • 18.3. Mexico
  • 18.4. Brazil
  • 18.5. United Kingdom
  • 18.6. Germany
  • 18.7. France
  • 18.8. Russia
  • 18.9. Italy
  • 18.10. Spain
  • 18.11. China
  • 18.12. India
  • 18.13. Japan
  • 18.14. Australia
  • 18.15. South Korea

19. Competitive Landscape

  • 19.1. Market Share Analysis, 2024
  • 19.2. FPNV Positioning Matrix, 2024
  • 19.3. Competitive Analysis
    • 19.3.1. Johnson Controls International plc
    • 19.3.2. Carrier Global Corporation
    • 19.3.3. Daikin Industries, Ltd.
    • 19.3.4. Ingersoll Rand Inc.
    • 19.3.5. Trane Technologies plc
    • 19.3.6. Mitsubishi Electric Corporation
    • 19.3.7. Lennox International Inc.
    • 19.3.8. Honeywell International Inc.
    • 19.3.9. Bosch Thermotechnology GmbH
    • 19.3.10. Viessmann Werke GmbH & Co. KG

LIST OF FIGURES

  • FIGURE 1. GLOBAL THERMAL SYSTEMS MARKET SIZE, 2018-2032 (USD MILLION)
  • FIGURE 2. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY PRODUCT TYPE, 2024 VS 2032 (%)
  • FIGURE 3. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY PRODUCT TYPE, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 4. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY END USER, 2024 VS 2032 (%)
  • FIGURE 5. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY END USER, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 6. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY APPLICATION, 2024 VS 2032 (%)
  • FIGURE 7. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY APPLICATION, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 8. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY TECHNOLOGY, 2024 VS 2032 (%)
  • FIGURE 9. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY TECHNOLOGY, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 10. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY FUEL TYPE, 2024 VS 2032 (%)
  • FIGURE 11. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY FUEL TYPE, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 12. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY DISTRIBUTION CHANNEL, 2024 VS 2032 (%)
  • FIGURE 13. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY DISTRIBUTION CHANNEL, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 14. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COMPONENT, 2024 VS 2032 (%)
  • FIGURE 15. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COMPONENT, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 16. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CAPACITY, 2024 VS 2032 (%)
  • FIGURE 17. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CAPACITY, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 18. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY REGION, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 19. AMERICAS THERMAL SYSTEMS MARKET SIZE, BY SUBREGION, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 20. NORTH AMERICA THERMAL SYSTEMS MARKET SIZE, BY COUNTRY, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 21. LATIN AMERICA THERMAL SYSTEMS MARKET SIZE, BY COUNTRY, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 22. EUROPE, MIDDLE EAST & AFRICA THERMAL SYSTEMS MARKET SIZE, BY SUBREGION, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 23. EUROPE THERMAL SYSTEMS MARKET SIZE, BY COUNTRY, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 24. MIDDLE EAST THERMAL SYSTEMS MARKET SIZE, BY COUNTRY, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 25. AFRICA THERMAL SYSTEMS MARKET SIZE, BY COUNTRY, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 26. ASIA-PACIFIC THERMAL SYSTEMS MARKET SIZE, BY COUNTRY, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 27. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GROUP, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 28. ASEAN THERMAL SYSTEMS MARKET SIZE, BY COUNTRY, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 29. GCC THERMAL SYSTEMS MARKET SIZE, BY COUNTRY, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 30. EUROPEAN UNION THERMAL SYSTEMS MARKET SIZE, BY COUNTRY, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 31. BRICS THERMAL SYSTEMS MARKET SIZE, BY COUNTRY, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 32. G7 THERMAL SYSTEMS MARKET SIZE, BY COUNTRY, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 33. NATO THERMAL SYSTEMS MARKET SIZE, BY COUNTRY, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 34. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COUNTRY, 2024 VS 2025 VS 2032 (USD MILLION)
  • FIGURE 35. THERMAL SYSTEMS MARKET SHARE, BY KEY PLAYER, 2024
  • FIGURE 36. THERMAL SYSTEMS MARKET, FPNV POSITIONING MATRIX, 2024

LIST OF TABLES

  • TABLE 1. THERMAL SYSTEMS MARKET SEGMENTATION & COVERAGE
  • TABLE 2. UNITED STATES DOLLAR EXCHANGE RATE, 2018-2024
  • TABLE 3. GLOBAL THERMAL SYSTEMS MARKET SIZE, 2018-2024 (USD MILLION)
  • TABLE 4. GLOBAL THERMAL SYSTEMS MARKET SIZE, 2025-2032 (USD MILLION)
  • TABLE 5. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY PRODUCT TYPE, 2018-2024 (USD MILLION)
  • TABLE 6. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY PRODUCT TYPE, 2025-2032 (USD MILLION)
  • TABLE 7. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY BOILERS, 2018-2024 (USD MILLION)
  • TABLE 8. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY BOILERS, 2025-2032 (USD MILLION)
  • TABLE 9. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY BOILERS, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 10. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY BOILERS, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 11. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY BOILERS, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 12. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY BOILERS, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 13. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY BOILERS, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 14. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY BOILERS, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 15. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRIC BOILERS, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 16. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRIC BOILERS, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 17. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRIC BOILERS, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 18. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRIC BOILERS, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 19. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRIC BOILERS, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 20. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRIC BOILERS, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 21. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS BOILERS, 2018-2024 (USD MILLION)
  • TABLE 22. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS BOILERS, 2025-2032 (USD MILLION)
  • TABLE 23. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS BOILERS, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 24. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS BOILERS, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 25. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS BOILERS, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 26. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS BOILERS, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 27. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS BOILERS, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 28. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS BOILERS, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 29. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CONDENSING, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 30. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CONDENSING, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 31. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CONDENSING, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 32. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CONDENSING, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 33. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CONDENSING, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 34. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CONDENSING, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 35. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY NON CONDENSING, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 36. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY NON CONDENSING, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 37. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY NON CONDENSING, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 38. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY NON CONDENSING, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 39. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY NON CONDENSING, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 40. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY NON CONDENSING, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 41. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY OIL BOILERS, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 42. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY OIL BOILERS, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 43. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY OIL BOILERS, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 44. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY OIL BOILERS, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 45. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY OIL BOILERS, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 46. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY OIL BOILERS, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 47. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CHILLERS, 2018-2024 (USD MILLION)
  • TABLE 48. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CHILLERS, 2025-2032 (USD MILLION)
  • TABLE 49. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CHILLERS, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 50. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CHILLERS, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 51. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CHILLERS, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 52. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CHILLERS, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 53. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CHILLERS, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 54. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CHILLERS, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 55. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ABSORPTION, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 56. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ABSORPTION, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 57. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ABSORPTION, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 58. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ABSORPTION, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 59. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ABSORPTION, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 60. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ABSORPTION, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 61. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY AIR COOLED, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 62. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY AIR COOLED, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 63. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY AIR COOLED, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 64. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY AIR COOLED, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 65. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY AIR COOLED, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 66. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY AIR COOLED, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 67. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY WATER COOLED, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 68. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY WATER COOLED, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 69. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY WATER COOLED, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 70. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY WATER COOLED, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 71. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY WATER COOLED, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 72. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY WATER COOLED, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 73. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY FURNACES, 2018-2024 (USD MILLION)
  • TABLE 74. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY FURNACES, 2025-2032 (USD MILLION)
  • TABLE 75. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY FURNACES, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 76. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY FURNACES, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 77. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY FURNACES, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 78. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY FURNACES, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 79. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY FURNACES, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 80. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY FURNACES, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 81. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRIC FURNACES, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 82. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRIC FURNACES, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 83. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRIC FURNACES, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 84. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRIC FURNACES, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 85. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRIC FURNACES, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 86. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRIC FURNACES, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 87. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS FURNACES, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 88. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS FURNACES, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 89. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS FURNACES, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 90. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS FURNACES, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 91. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS FURNACES, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 92. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS FURNACES, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 93. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEAT PUMPS, 2018-2024 (USD MILLION)
  • TABLE 94. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEAT PUMPS, 2025-2032 (USD MILLION)
  • TABLE 95. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEAT PUMPS, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 96. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEAT PUMPS, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 97. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEAT PUMPS, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 98. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEAT PUMPS, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 99. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEAT PUMPS, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 100. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEAT PUMPS, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 101. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY AIR SOURCE, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 102. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY AIR SOURCE, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 103. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY AIR SOURCE, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 104. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY AIR SOURCE, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 105. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY AIR SOURCE, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 106. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY AIR SOURCE, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 107. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GROUND SOURCE, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 108. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GROUND SOURCE, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 109. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GROUND SOURCE, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 110. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GROUND SOURCE, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 111. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GROUND SOURCE, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 112. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GROUND SOURCE, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 113. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY WATER SOURCE, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 114. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY WATER SOURCE, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 115. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY WATER SOURCE, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 116. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY WATER SOURCE, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 117. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY WATER SOURCE, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 118. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY WATER SOURCE, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 119. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY END USER, 2018-2024 (USD MILLION)
  • TABLE 120. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY END USER, 2025-2032 (USD MILLION)
  • TABLE 121. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COMMERCIAL, 2018-2024 (USD MILLION)
  • TABLE 122. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COMMERCIAL, 2025-2032 (USD MILLION)
  • TABLE 123. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COMMERCIAL, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 124. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COMMERCIAL, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 125. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COMMERCIAL, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 126. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COMMERCIAL, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 127. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COMMERCIAL, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 128. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COMMERCIAL, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 129. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY EDUCATION, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 130. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY EDUCATION, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 131. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY EDUCATION, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 132. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY EDUCATION, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 133. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY EDUCATION, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 134. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY EDUCATION, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 135. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEALTHCARE, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 136. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEALTHCARE, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 137. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEALTHCARE, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 138. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEALTHCARE, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 139. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEALTHCARE, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 140. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEALTHCARE, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 141. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HOSPITALITY, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 142. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HOSPITALITY, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 143. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HOSPITALITY, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 144. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HOSPITALITY, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 145. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HOSPITALITY, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 146. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HOSPITALITY, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 147. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY RETAIL, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 148. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY RETAIL, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 149. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY RETAIL, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 150. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY RETAIL, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 151. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY RETAIL, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 152. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY RETAIL, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 153. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY INDUSTRIAL, 2018-2024 (USD MILLION)
  • TABLE 154. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY INDUSTRIAL, 2025-2032 (USD MILLION)
  • TABLE 155. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY INDUSTRIAL, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 156. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY INDUSTRIAL, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 157. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY INDUSTRIAL, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 158. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY INDUSTRIAL, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 159. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY INDUSTRIAL, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 160. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY INDUSTRIAL, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 161. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CHEMICAL, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 162. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CHEMICAL, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 163. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CHEMICAL, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 164. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CHEMICAL, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 165. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CHEMICAL, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 166. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CHEMICAL, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 167. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY FOOD AND BEVERAGE, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 168. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY FOOD AND BEVERAGE, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 169. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY FOOD AND BEVERAGE, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 170. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY FOOD AND BEVERAGE, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 171. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY FOOD AND BEVERAGE, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 172. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY FOOD AND BEVERAGE, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 173. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY METAL AND MINING, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 174. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY METAL AND MINING, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 175. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY METAL AND MINING, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 176. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY METAL AND MINING, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 177. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY METAL AND MINING, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 178. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY METAL AND MINING, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 179. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY OIL AND GAS, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 180. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY OIL AND GAS, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 181. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY OIL AND GAS, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 182. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY OIL AND GAS, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 183. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY OIL AND GAS, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 184. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY OIL AND GAS, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 185. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY RESIDENTIAL, 2018-2024 (USD MILLION)
  • TABLE 186. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY RESIDENTIAL, 2025-2032 (USD MILLION)
  • TABLE 187. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY RESIDENTIAL, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 188. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY RESIDENTIAL, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 189. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY RESIDENTIAL, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 190. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY RESIDENTIAL, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 191. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY RESIDENTIAL, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 192. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY RESIDENTIAL, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 193. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY MULTI FAMILY, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 194. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY MULTI FAMILY, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 195. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY MULTI FAMILY, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 196. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY MULTI FAMILY, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 197. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY MULTI FAMILY, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 198. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY MULTI FAMILY, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 199. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY SINGLE FAMILY, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 200. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY SINGLE FAMILY, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 201. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY SINGLE FAMILY, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 202. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY SINGLE FAMILY, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 203. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY SINGLE FAMILY, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 204. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY SINGLE FAMILY, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 205. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY APPLICATION, 2018-2024 (USD MILLION)
  • TABLE 206. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY APPLICATION, 2025-2032 (USD MILLION)
  • TABLE 207. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY DISTRICT HEATING, 2018-2024 (USD MILLION)
  • TABLE 208. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY DISTRICT HEATING, 2025-2032 (USD MILLION)
  • TABLE 209. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY DISTRICT HEATING, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 210. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY DISTRICT HEATING, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 211. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY DISTRICT HEATING, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 212. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY DISTRICT HEATING, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 213. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY DISTRICT HEATING, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 214. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY DISTRICT HEATING, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 215. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COGENERATION, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 216. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COGENERATION, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 217. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COGENERATION, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 218. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COGENERATION, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 219. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COGENERATION, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 220. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COGENERATION, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 221. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEAT NETWORK, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 222. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEAT NETWORK, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 223. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEAT NETWORK, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 224. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEAT NETWORK, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 225. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEAT NETWORK, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 226. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEAT NETWORK, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 227. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HVAC, 2018-2024 (USD MILLION)
  • TABLE 228. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HVAC, 2025-2032 (USD MILLION)
  • TABLE 229. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HVAC, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 230. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HVAC, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 231. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HVAC, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 232. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HVAC, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 233. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HVAC, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 234. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HVAC, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 235. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COOLING, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 236. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COOLING, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 237. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COOLING, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 238. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COOLING, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 239. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COOLING, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 240. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COOLING, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 241. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEATING, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 242. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEATING, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 243. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEATING, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 244. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEATING, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 245. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEATING, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 246. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HEATING, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 247. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY VENTILATION, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 248. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY VENTILATION, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 249. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY VENTILATION, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 250. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY VENTILATION, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 251. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY VENTILATION, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 252. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY VENTILATION, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 253. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY POWER GENERATION, 2018-2024 (USD MILLION)
  • TABLE 254. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY POWER GENERATION, 2025-2032 (USD MILLION)
  • TABLE 255. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY POWER GENERATION, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 256. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY POWER GENERATION, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 257. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY POWER GENERATION, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 258. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY POWER GENERATION, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 259. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY POWER GENERATION, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 260. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY POWER GENERATION, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 261. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COMBINED CYCLE, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 262. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COMBINED CYCLE, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 263. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COMBINED CYCLE, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 264. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COMBINED CYCLE, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 265. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COMBINED CYCLE, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 266. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY COMBINED CYCLE, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 267. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS TURBINE, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 268. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS TURBINE, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 269. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS TURBINE, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 270. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS TURBINE, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 271. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS TURBINE, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 272. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS TURBINE, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 273. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY STEAM TURBINE, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 274. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY STEAM TURBINE, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 275. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY STEAM TURBINE, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 276. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY STEAM TURBINE, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 277. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY STEAM TURBINE, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 278. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY STEAM TURBINE, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 279. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY PROCESS HEATING, 2018-2024 (USD MILLION)
  • TABLE 280. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY PROCESS HEATING, 2025-2032 (USD MILLION)
  • TABLE 281. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY PROCESS HEATING, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 282. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY PROCESS HEATING, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 283. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY PROCESS HEATING, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 284. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY PROCESS HEATING, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 285. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY PROCESS HEATING, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 286. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY PROCESS HEATING, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 287. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY BATCH, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 288. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY BATCH, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 289. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY BATCH, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 290. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY BATCH, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 291. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY BATCH, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 292. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY BATCH, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 293. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CONTINUOUS, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 294. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CONTINUOUS, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 295. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CONTINUOUS, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 296. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CONTINUOUS, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 297. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CONTINUOUS, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 298. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY CONTINUOUS, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 299. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY TECHNOLOGY, 2018-2024 (USD MILLION)
  • TABLE 300. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY TECHNOLOGY, 2025-2032 (USD MILLION)
  • TABLE 301. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRIC, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 302. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRIC, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 303. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRIC, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 304. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRIC, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 305. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRIC, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 306. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRIC, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 307. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 308. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 309. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 310. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 311. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 312. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY GAS, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 313. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HYBRID, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 314. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HYBRID, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 315. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HYBRID, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 316. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HYBRID, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 317. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HYBRID, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 318. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY HYBRID, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 319. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY STEAM, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 320. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY STEAM, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 321. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY STEAM, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 322. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY STEAM, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 323. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY STEAM, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 324. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY STEAM, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 325. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY THERMAL ENERGY STORAGE, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 326. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY THERMAL ENERGY STORAGE, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 327. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY THERMAL ENERGY STORAGE, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 328. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY THERMAL ENERGY STORAGE, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 329. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY THERMAL ENERGY STORAGE, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 330. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY THERMAL ENERGY STORAGE, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 331. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY FUEL TYPE, 2018-2024 (USD MILLION)
  • TABLE 332. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY FUEL TYPE, 2025-2032 (USD MILLION)
  • TABLE 333. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY BIOMASS, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 334. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY BIOMASS, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 335. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY BIOMASS, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 336. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY BIOMASS, BY GROUP, 2025-2032 (USD MILLION)
  • TABLE 337. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY BIOMASS, BY COUNTRY, 2018-2024 (USD MILLION)
  • TABLE 338. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY BIOMASS, BY COUNTRY, 2025-2032 (USD MILLION)
  • TABLE 339. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRICITY, BY REGION, 2018-2024 (USD MILLION)
  • TABLE 340. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRICITY, BY REGION, 2025-2032 (USD MILLION)
  • TABLE 341. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELECTRICITY, BY GROUP, 2018-2024 (USD MILLION)
  • TABLE 342. GLOBAL THERMAL SYSTEMS MARKET SIZE, BY ELE