Consumer Goods - Heat Cost Allocator Market

Market Summary

The global heat cost allocator market reached a significantly robust value in 2020 and is expected to register a steady revenue CAGR over the forecast period. Major factors driving market revenue growth include increasing adoption of heat cost allocators in residential as well as commercial buildings. Rapidly expanding construction industry, growing urbanization, and rising awareness of such Battery powered devices to measure heat output in residential and commercial buildings are key factors resulting in rising demand for cost-effective and reliable heat cost allocators, which is expected to drive global market growth going ahead.

Market Dynamics:
Drivers:

Heat cost allocators are also called heat metering systems. They are battery powered devices used to allocate heat cost on the basis of individual usage in residential and commercial buildings. These devices are attached to individual radiators that measure the total heat output of an individual radiator. Evaporating style and electric heat cost allocators are two common types of these devices. These devices are majorly used in billing of heat energy consumption in apartments. Rising demand for technologically advanced, reliable, and energy-efficient heat cost allocators is a key factor expected to support growth of the global heat cost allocator market.

Major players, especially in developing countries and regions, are investing in increasing production to meet demand from residential and commercial sectors. North America dominated the global heat cost allocator market. In Asia Pacific, markets in India, China, Japan, Indonesia, and Taiwan have large number of heat cost allocator manufacturers, which is a key factor expected to propel market growth in the region, thereby, supporting growth of the global heat cost allocator market going ahead.

Restraints:

Lack of awareness regarding use of heat cost allocators is a one of the key factors expected to hamper growth of the global market to a certain extent going ahead.

Market Insights:
Type Outlook:

The evaporating style segment is expected to register highest revenue CAGR during the forecast period. Evaporating style heat cost allocators are high in demand across a variety of applications, which is expected to support revenue growth of this segment.

Application Outlook:

The residential building segment accounted for largest revenue share among other application segments in the global market in 2020 as heat cost allocators are brilliant devices that measure total heat consumption of residence in a building through individual radiators that are attached to it.

Region Outlook:

North America market is expected to account for a substantially large revenue share during the forecast period. Well-established industries in the region such as building & construction are boosting growth of the North America heat cost allocator market. Rising production of heat cost allocators, which are highly required in residential and commercial buildings, is also expected to propel growth of the heat cost allocator market in North America. Moreover, increasing investments in technological advancements by manufacturers operating in the region is further driving growth of the North America market.

Asia Pacific market revenue registered a rapid CAGR in 2020, and this trend is expected to continue during the forecast period. Factors, such as rapid urbanization, rising population, expansion in the building & construction industry, coupled with increasing demand for heat cost allocators are expected to propel growth of the Asia Pacific heat cost allocator market during the forecast period.

Companies profiled in the market report

Some of the major players in the global heat cost allocator market are Zenner, Sontex, Siemens, Ista, Itron, Techem, Brunata, Te-sa s.r.l., Engelmnn, Leye Energy Service.

Major companies are adopting various strategies including mergers, acquisitions, partnerships, and new product development to stay ahead of the competition and expand market footprint and revenue share.

Segments covered in the report:

This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2018 to 2028. The global heat cost allocator market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global heat cost allocator market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.

For the purpose of this report, Reports and Data has segmented the global heat cost allocator market on the basis of type, application, and region:

Type Outlook (Revenue, USD Billion; 2018 – 2028)

• Evaporating Style Heat Cost Allocator
• Electric Heat Cost Allocator
• Others

Application Outlook (Revenue, USD Billion; 2018 – 2028)

• Commercial Building
• Residential Building
• Others

Region Outlook (Revenue, USD Billion; 2018 – 2028)

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Benelux
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia Pacific
• Latin America
• Brazil
• Rest of Latin America
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
• Rest of Middle East & Africa