Heat Interface Unit Market Size Projected to Reach $7.3 Billion by 2026

October 28 22:30 2021
Heat Interface Unit Market Size Projected to Reach $7.3 Billion by 2026
Heat Interface Unit Market
Increasing Stringent Environment Rules About “zero Carbon Emission” Is Driving Heat Interface Unit Market

Heat Interface Unit Market size is projected to reach $7.3 billion by 2026 and it is estimated to grow at a CAGR of 7.8% during the forecast period 2021-2026. The growth of Heat Interface Unit Market is majorly attributed to the rapid urbanization and rising investments towards smart homes, large apartment complexes and social housing projects in developing nations. Heat Interface Units, consisting of components including heat exchangers, control valves, sensors, pumps, metering devices, acting as a bridge between boiler and hot water system to offer an efficient and reliable solution for delivering energy in large industrial or residential buildings, engaging centralized district heating strategies improving urban landscape. This heat is generally achieved by renewable sources of energy including geothermal energy, central heating systems through solar energy, space heating, central boilers or heat waste from nuclear power plants or industrial refrigeration system and thus providing a cost-efficient technique to curb carbon emission. Rising supportive regulatory and legislative framework for “Zero Carbon” technology is another key factor driving the Heat Interface Unit market growth. The recent trend of developing internet connected smart Homes and Heat Exchangers delivering improved efficiency and fuel cost savings are also augmenting the market.

Heat Interface Unit Market Segment Analysis – By Product Type

By Product Type, Heat Interface Unit Market is segmented into Direct Heat Interface Unit and Indirect Heat Interface Unit. Indirect Heat interface unit dominated the market in 2020 acquiring a market share of 63% and is estimated to witness the fastest growth with a CAGR of 6.9% between 2021 and 2026 due to its rapid adoption in smart homes and multi-dwelling apartments. Two-plate heat exchangers, used in indirect HIU provides appropriate separation of primary and secondary circuits and enables proper isolation of maintenance of both circuits such as cleansing and inhibition of water of the circuits. Such beneficiary features indirect heat interface units are anticipated to steer the market from 2021 to 2026. In June 2021, Canadian Government announced to invest $797 Million to green up its energy sector, aiming towards becoming carbon-neutral by 2050. Such government initiatives and funds to achieve net zero emissions are stimulating the market.

Heat Interface Unit Market Segment Analysis – By End User

By End User, Heat Interface Unit Market is segmented intoindustrial, commercial and residential sector. Residential segment dominated the market in 2020 acquiring a share of 46% and is estimated to account for the largest market share of 48% by 2026 due to rapid urbanization in developing countries and rising penetration of smart homes globally. Residential is also estimated to be the fastest growing market with a CAGR of 8.6% owing to rising adoption of district heating systems in multi-dwelling apartments. In June 2021, Canada’s Northwest Territories Housing Corporation announced the opening of eight- unit apartment complex in Yellowknife with a sustainable district heating system utilizing renewable energy source. Such developments are driving the market.

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Heat Interface Unit Market Segment Analysis – By Geography

By Geography, Heat Interface Unit Market is segmented into North America, Europe, APAC, South America and RoW. Europe dominated the market acquiring a share of 41% in 2020 and is estimated to hold the major market share with the fastest growing CAGR of 9.1% during 2021-2026 owing to early penetration of smart homes, high demand of HIUs than other region and rising adoption of stringent policies to curb carbon emission. In June 2021, Nottingham University started working on a project to evaluate performance and effectiveness of low carbon or zero carbon heating system to deliver on-demand, cost effective heat energy for home and workplaces utilizing district heating network. Such new novel research work is analysed to drive the market between 2021 and 2026.

Heat Interface Unit Market Drivers

Increasing stringent environment rules about “Zero Carbon Emission”

Increasing stringent government policies to curb carbon emission to develop an energy-efficient neighborhood has contributed to the growth of the market. The rising demand for energy-efficient district heating networks and the recent transition of households and businesses from gas boilers to new heat interface units are accelerating the Heat Interface Unit Market growth. Increasing investments towards social house projects or large buildings due to rapid urbanization addressing safety, energy management with intelligent solutions has contributed to the growth of the market. Rising adoption of smart homes is also anticipated to augment the market. In May 2021, Cory received a fund of USD 14.75 Million from government to develop UK’s largest district heating network for delivering low carbon heat to 21,000 homes. Such government initiatives are propelling the Heat Interface Unit Market growth.

Increasing integration with IoT

Rising integration of Heat Interface Units with IoT leveraging intelligent monitoring and control coupled with integrated billing is significantly triggering the growth of the market. Smart HIUs also offer TCP/IP connectivity to allow a robust, reliable two way communication for diagnostics, commissioning, support and metering data which can be accessed across the building infrastructure. Such advanced capabilities of smart heat interface unit technology are fueling the growth of the market. In May 2019, Evinox unveiled latest range of Smart Heat Inteface Units ModuSat XR, to deliver high performance, more flexibility and easy access. Such developments are analyzed to drive the market during the forecast period 2021-2026.

Heat Interface Unit Market Challenges

Unawareness among people about benefits of HIU

Unawareness among people in emerging countries such as China, Japan, India about the long-term benefits of heat interface units are estimated to be one of the major challenges impeding the growth of the market. However, significant investments on R&D and promotional marketing are set to offset this challenge during the later stages of 2021-2026.

Heat Interface Unit Market Landscape

Product innovation, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Heat Interface Unit market. In 2020, the market of Heat Interface Unit industry outlook has been fragmented by several companies. Heat Interface Unit top 10 companies include Robert Bosch GmbH, Honeywell International Inc., Armstrong Fluid Technology, Dutypoint, Docherty, ALFA LAVAL, Danfoss, Rhico, Intatec, Caleffiamong others.

Acquisitions/Technology Launches

In June 2021, Valmet Automation Ltd. Announced to deliver an automation system for development and optimization of Fortum’s district heating system in Finland.

In April 2021, Budapest’s district heating firm FOTAV and Arctic Green Energy signed a cooperation agreement for developing a geothermal district heating units in Budapest having the capacity between 10 MW to 20 MW.

Key Takeaways

Indirect Heat Units are estimated to witness the fastest growth with a CAGR of 6.9% during the forecast period 2021-2026 due to rising demand in smart homes and Multi-dwelling apartments.

Europe is estimated to dominate the market with a CAGR of 9.1% during 2021-2026 owing to early penetration of smart homes and stringent government policies to curb emission.

Increasing stringent government rules on carbon emission and Rising integration with IoT are driving the market.

Unawareness among people about the benefits of HIU is hampering the adoption.

Relevant Reports

A. Heat Exchanger Market

https://www.industryarc.com/Report/15188/heat-exchanger-market.html

B. District Heating Market

https://www.industryarc.com/Research/District-Heating-Market-Research-505471

For more Electronics related reports, please click here

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