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市場調查報告書
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1854124

熱感系統市場按產品類型、最終用戶、應用、技術、燃料類型、分銷管道、組件和容量分類 - 全球預測 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個工作天內

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預計到 2032 年，熱感系統市場規模將達到 962.1 億美元，複合年成長率為 7.83%。

關鍵市場統計數據
基準年 2024 526.2億美元
預計年份：2025年 568.4億美元
預測年份 2032 962.1億美元
複合年成長率 (%) 7.83%

建構現代化的熱系統環境，其中脫碳、數位轉型和供應鏈韌性至關重要。

熱感系統產業正處於曲折點，政策要求、技術創新和業務韌性正在交匯融合，重塑製造商、營運商和服務供應商的策略重點。脫碳政策和電氣化目標日益成為需求促進因素，加速了低碳加熱和冷卻技術的應用，同時也提高了效率和可控性的技術門檻。同時，數位化正在催生新的服務模式和遠距離診斷，提高資產運作和全生命週期性能，並拓展售後市場收入潛力。

供應鏈動態仍然是企業關注的核心，原物料價格波動和零件供應限制促使企業重新評估籌資策略。因此，企業需要在模組化設計、在地化生產和供應商多元化等中期投資與短期交付壓力之間尋求平衡。同時，監管和標準環境也在不斷演變。如今，合規途徑涵蓋了性能檢驗、排放限值和新的安全要求，這要求產品開發團隊和認證團隊儘早進行協調。

這些因素的綜合影響需要採取一體化的策略應對措施。領導者必須調整產品系列、銷售管道和服務能力，以實現合規性和商業性優勢的雙重目標。以下頁面將對技術、商業和監管方面的變化進行全面分析，以幫助工程、採購和經營團隊團隊做出明智的決策。

識別監管壓力、數位化創新和供應鏈再平衡這三股匯聚力量，它們正在重塑整個熱力系統的產品和服務策略。

該行業正經歷一系列變革時期，這些變革正在重塑競爭動態和投資重點。首先，脫碳政策和企業對淨零排放的承諾正在加速從石化燃料資產向電氣化和混合供熱解決方案的轉型，促使現有製造商調整其產品線和服務提案。其次，控制系統、物聯網連接和數據分析技術的進步正在將被動式設備轉變為附加價值服務平台，從而實現基於績效的合約和預測性維護，並帶來可衡量的總體擁有成本效益。

同時，能源系統整合為熱能儲存和靈活負載管理創造了機遇，使熱能資產能夠參與電網服務和需量反應計畫。此外，材料創新和模組化製造正在縮短開發週期，並支援跨多個容量等級的可擴展部署。地緣政治緊張局勢和不斷變化的貿易政策也在影響籌資策略，加速在地化和供應商多元化，以降低關稅和物流中斷的風險。

這些轉變並非孤立存在，而是相互影響，貫穿產品設計、分銷和售後服務等各個環節。因此，那些能夠協調研發、商業策略和供應鏈規劃的企業，將佔據新價值池中不成比例的佔有率。調整產品架構、採用數位化優先的服務模式以及將基於情境的規劃制度化，將有助於它們保持韌性和競爭力。

評估截至 2025 年的累積關稅如何迫使熱能產業進行採購轉型、回流舉措和採用適應性產品設計策略。

2025年實施的關稅措施產生了累積效應，波及採購、製造和部署的各個環節。某些零件和原料關稅的提高增加了目標商標產品製造商和供應商的投入成本，直接導致價格壓力，並對合約談判和保固條款產生間接影響。因此，一些買家和製造商正在加速策略採購轉型，包括近岸外包、多供應商採購和簽訂長期供應商契約，以鎖定產能並降低未來貿易政策波動的風險。

對於計劃開發人員和最終用戶而言，關稅使規格選擇變得更加複雜。決策者現在需要權衡總購置成本和全生命週期營業成本，以及未來政策變化的風險。這有利於那些允許靈活更換零件和模組化維修的設計，從而降低在浮動關稅制度下的合規成本。同時，關稅鼓勵對國內組裝和製造能力進行投資，縮短供應鏈並提高前置作業時間的可預測性，但也需要資本支出和勞動力發展。

在整個價值鏈中，緩解策略正在湧現，包括聯合採購聯盟、建立具有風險分擔夥伴關係的長期供應商夥伴關係，以及加強價值工程以減少對關稅敏感材料的依賴。最終，關稅的累積影響正在加速採購和生產計畫的結構性調整，加劇了情境規劃和適應性產品架構的需求。

將產品、最終用戶、應用、技術、燃料、通路、零件和產能等細分市場進行細分，以發現產品開發和服務設計的目標機會。

對市場區隔的深入理解揭示了技術性能、採購管道和最終用戶期望的交匯點，從而創造了差異化的機會。產品類型將產業分類為鍋爐、冷水機組、爐灶和熱泵，不同的應用路徑之間存在重要的技術差異。鍋爐分為電鍋爐、瓦斯鍋爐和燃油鍋爐，燃氣鍋爐又分為冷凝式和非冷凝式。這些產品層面的差異決定了控制設備、熱交換器和隔熱材料的工程優先級，並影響從小到大不同容量等級的維修策略。

將終端用戶細分為商業、工業和住宅用戶，可進一步細化需求訊號和預期服務。工業客戶，例如化學、食品飲料、金屬礦業以及石油天然氣行業，要求系統在製程條件下具有穩健性，並嚴格遵守安全標準。住宅用戶的需求又分為單戶住宅和多用戶住宅，兩者在安裝限制和管道偏好方面各有不同。基於應用領域的差異化包括：透過汽電共生和熱網實現的區域供熱；側重於製冷、供暖和通風的暖通空調系統；透過複合迴圈、燃氣渦輪機和蒸氣渦輪等方式進行的發電；以及間歇式和連續式製程加熱，每種方式都會產生不同的規格和服務範圍。

技術和燃料類型的選擇也影響價值提案。電力、燃氣、混合動力、蒸氣和熱能儲存技術涵蓋了生質能、電力、天然氣和石油等多種燃料選擇，而售後市場、直銷、目標商標產品製造商管道等分銷管道則決定了客戶互動模式和收入獲取方式。壓縮機、控制系統、熱交換器和隔熱材料等組件是提高效率和可維護性的關鍵因素，而容量細分（高、中、低容量等級）則影響模組化、安裝物流和資金籌措結構。這些細分層級指南產品藍圖和通路策略，使企業能夠將技術創新與消費者購買行為和現有生態系統的實際情況結合。

了解世界各地不同的政策、基礎設施和供應鏈現狀如何影響技術採納和商業模式的優先事項。

美洲、歐洲、中東和非洲以及亞太地區的區域動態正在形成不同的戰略要務，這些要務影響技術應用、監管合規和商業模式。在美洲，政策獎勵和州級強制性規定推動了電氣化和能源效率維修，而該地區監管環境的多樣性則要求靈活的產品認證策略和本地化的服務生態系統。北美的需求通常受維修週期和韌性要求驅動，而拉丁美洲部分地區則優先考慮模組化、經濟高效的解決方案，以應對電網可靠性波動和資金籌措。

在歐洲、中東和非洲，減排排放和嚴格的能源效率標準正在加速熱泵、儲熱技術和區域供熱網路的部署，相關的法規結構也獎勵系統級整合和性能檢驗。歐洲、中東和非洲地區的市場環境為集設備、控制設備和能源管理服務於一體的整合產品創造了機遇，而中東市場也優先考慮區域規模和高容量解決方案，以支援工業和公共產業應用。

亞太地區的發展軌跡各不相同。已開發經濟體正大力推動電氣化供暖和智慧控制的快速普及，而新興市場則優先考慮擴充性、低成本的解決方案以及適合當地基礎設施的耐用設計。在亞太部分地區，製造能力和供應鏈的接近性為成本競爭力強的生產提供了競爭優勢，但區域關稅動態和貿易路線仍然影響著採購決策。在所有地區，當地的管理體制、勞動市場和資金籌措結構都決定企業制定差異化的市場進入策略，而那些能夠將產品模組化與當地合規性和服務能力結合的企業將獲得最大的持久價值。

重點介紹產業參與者為確保價值持續流轉而採取的策略性舉措，包括將硬體創新與服務、策略夥伴關係和模組化相結合。

該產業的競爭格局正從單純依賴硬體差異化，轉向更加重視產品創新、服務和策略夥伴關係。領先的供應商正從單純銷售設備拓展到整合服務模式，將效能保證、遠端監控和基於結果的維護等服務打包在一起，以獲取持續收入並深化客戶關係。同時，技術供應商和組件供應商也在投資更高價值的系統工程能力和軟體平台，以提升互通性並縮短試運行週期。

此外，整個生態系統的協作正在加速。供應商正與控制設備和軟體公司合作，提供承包解決方案；服務提供者則在建立預測分析能力，以提高運作和延長資產壽命。整合和有針對性的收購正在彌合能力差距，尤其是在熱能儲存、數位孿生和先進熱泵系統等領域；而合資企業則在無需完全承擔市場准入風險的情況下，提供了進入區域製造和分銷網路的途徑。

為了保持競爭力，企業正優先考慮售後服務的垂直整合、產品供應多元化以及開發標準化、模組化的產品平台，以簡化安裝和服務。技術性能、強大的服務能力和靈活的商業條款的完美結合，能夠增強客戶忠誠度並創造穩定的收入來源。

提供高階主管切實可行的建議，以增強韌性、加速電氣化進程、實現服務貨幣化，同時降低供應鏈和政策風險。

產業領導者應採取務實的行動方案，既應對近期風險，也為中期結構轉型做好準備。首先，透過多元化採購、區域製造夥伴關係和策略性庫存緩衝，實現供應鏈多元化，進而降低關稅波動和物流中斷帶來的風險。同時，優先考慮支援模組化維修和零件互換的產品架構，以便在無需更換整個系統的情況下，以可預測的前置作業時間完成現場升級。

第二，我們將加快電氣化和熱能儲存能力的投資，同時開發可提供燃料使用彈性的混合動力解決方案。這些技術投資，結合可擴展的遠端監控、預測性維護和客戶參與數位平台，將建立持續的收入來源並提高資產運轉率。第三，我們將重新構想強調生命週期價值的商業模式。這意味著引入基於績效的合約、延長的服務協議和融資方案，以協調供應商和最終用戶之間的獎勵。這將有助於資金有限的買家接受這些方案，並提供長期的收入可見度。

最後，我們將投資於員工培訓、認證項目，並與公用事業公司和標準組織建立合作關係，以促進合規並推動大規模應用。我們將實施基於情境的策略規劃，以測試我們應對關稅變化、監管更新和技術變革的措施。這些措施將增強我們的韌性，加速低碳解決方案的採用，並幫助我們在不斷變化的環境中保持競爭力。

採用嚴謹的混合方法檢驗產業洞察，結合專家訪談、供應鏈圖譜分析、標準分析和情境規劃。

本研究結合定性和定量證據，提供了穩健且檢驗的分析。主要資料來源包括對來自商業、工業和住宅領域的工程負責人、採購人員、公用事業規劃人員和服務供應商進行的結構化訪談，並輔以對產品規格和性能測試通訊協定的技術審查。次要分析則利用了監管文件、標準文件、專利揭露和公開的運作案例，以揭示技術發展軌跡和部署限制。

我們的調查方法利用供應鏈圖譜追蹤零件採購，並識別關稅風險點。我們也運用情境規劃來探索可能的政策和貿易環境，並評估韌性對採購和製造策略的影響。資料三角驗證和交叉檢驗確保了多方資訊來源的洞察，而專家同行評審則提供了額外的品質保證。我們也承認研究的局限性：公開可用的營運數據因地區和應用而異，其粒度各不相同；專有績效指標僅可透過供應商協議取得。

為了彌補這些局限性，本研究提供了敏感性分析，並鼓勵與尋求客製化分析的相關人員進行有針對性的後續訪談。這種方法強調假設和方法的透明度，使讀者能夠根據其特定的技術、監管和商業性環境調整研究結果。

將敏捷性、模組化設計和服務驅動模式等策略要務相結合，以確保在不斷變化的熱能領域中獲得競爭優勢。

總之，熱力系統格局正朝著兼顧脫碳、可靠性和商業性可行性的解決方案發展。技術發展方向傾向於電氣化、更高的控制整合度和熱能存儲，而商業模式則轉向以服務和結果為導向的績效。供應鏈和貿易政策的動態帶來了新的限制因素，但也催生了透過在地化和供應商多元化來增強韌性的策略性應對措施。

那些果斷行動的領導者，透過將研發投資與服務導向商業模式結合並建構靈活的採購框架，最能掌握此次轉型帶來的價值。此外，整合能夠實現預測性維護和效能基準化分析的數位化工具，可以降低營運風險並開拓新的收入來源。最後，嚴謹的情境規劃和夥伴關係建置方法，有助於企業應對不確定性，並加速安全、可擴展地部署下一代熱感管理解決方案。

組織敏捷性、模組化產品設計以及對生命週期成果的持續關注，將決定未來數年的競爭優勢。能夠將這些洞察轉化為優先且可執行藍圖的相關人員，將鞏固其市場地位，並在系統性能和成本效益方面實現可衡量的提升。

目錄

第1章：序言

第2章調查方法

第3章執行摘要

第4章 市場概覽

第5章 市場洞察

  • 在商業建築圍護結構中採用相變材料實現高效熱能儲存
  • 透過在工業熱交換器網路中實施人工智慧驅動的預測性維護來減少停機時間
  • 透過在製造過程中整合廢熱回收系統和有機朗肯迴圈技術來提高能源效率
  • 為燃料電池和清潔能源應用開發氫能溫度控管解決方案
  • 引入數位雙胞胎模型，用於區域供熱網路最佳化和城市電網動態負載平衡
  • 低溫冷凍技術的進步使得高效能超導性量子運算系統成為可能。

第6章美國關稅的累積影響，2025年

第7章 人工智慧的累積影響，2025年

第8章 依產品類型分類的熱感系統市場

  • 鍋爐
    • 電鍋爐
    • 燃氣鍋爐
      • 冷凝
      • 非冷凝式
    • 燃油鍋爐
  • 冷卻器
    • 吸收
    • 空冷式
    • 水冷
  • 爐
    • 電爐
    • 瓦斯爐
  • 熱泵
    • 空氣源
    • 地下熱源
    • 水源

第9章 依最終用戶分類的熱感系統市場

  • 商業的
    • 教育
    • 衛生保健
    • 飯店業
    • 零售
  • 產業
    • 化學品
    • 食品/飲料
    • 金屬和採礦
    • 石油和天然氣
  • 住宅
    • 多用戶住宅
    • 獨立式住宅

第10章 按應用分類的熱感系統市場

  • 區域供熱
    • 汽電共生
    • 熱網路
  • 空調設備
    • 冷卻
    • 加熱
    • 通風
  • 發電
    • 複合循環
    • 燃氣渦輪機
    • 蒸氣渦輪
  • 製程加熱
    • 批次
    • 常用表達

第11章 按技術分類的熱感系統市場

  • 電
  • 氣體
  • 混合
  • 蒸氣
  • 熱能儲存

第12章 依燃料類型分類的熱感系統市場

  • 生質能
  • 電
  • 天然氣
  • 油

第13章 依分銷通路分類的熱感系統市場

  • 售後市場
  • 直銷
  • 間接銷售
  • 原始設備製造商

第14章熱感系統市場（依組件分類）

  • 壓縮機
  • 控制
  • 熱交換器
  • 絕緣

第15章熱感系統市場：依容量分類

  • 大容量
  • 中等容量
  • 小容量

第16章 各地區的熱感系統市場

  • 美洲
    • 北美洲
    • 拉丁美洲
  • 歐洲、中東和非洲
    • 歐洲
    • 中東
    • 非洲
  • 亞太地區

第17章熱感系統市場：依組別分類

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

第18章 各國熱感系統市場

  • 美國
  • 加拿大
  • 墨西哥
  • 巴西
  • 英國
  • 德國
  • 法國
  • 俄羅斯
  • 義大利
  • 西班牙
  • 中國
  • 印度
  • 日本
  • 澳洲
  • 韓國

第19章 競爭情勢

  • 2024年市佔率分析
  • FPNV定位矩陣，2024
  • 競爭分析
    • 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