• Executive Summary o Market Overview • Market Landscape o Market ecosystem o Value chain analysis • Market Sizing o Market definition o Market segment analysis o Market size 2019 o Market outlook: Forecast for 2019 - 2024 • Five Forces Analysis o Bargaining power of buyers o Bargaining power of suppliers o Threat of new entrants o Threat of substitutes o Threat of rivalry o Market condition • Market Segmentation by End-user o Market segments o Comparison by End user o Residential - Market size and forecast 2019-2024 o Non-residential - Market size and forecast 2019-2024 o Market opportunity by End user • Customer landscape o Overview • Geographic Landscape o Geographic segmentation o Geographic comparison o Europe - Market size and forecast 2019-2024 o North America - Market size and forecast 2019-2024 o APAC - Market size and forecast 2019-2024 o South America - Market size and forecast 2019-2024 o MEA - Market size and forecast 2019-2024 o Key leading countries o Market opportunity by geography • Drivers, Challenges, and Trends o Market drivers o Volume driver - Demand led growth o Volume driver - Supply led growth o Volume driver - External factors o Volume driver - Demand shift in adjacent markets o Price driver - Inflation o Price driver - Shift from lower to higher priced units o Market challenges o Market trends • Vendor Landscape o Overview o Landscape disruption • Vendor Analysis o Vendors covered o Market positioning of vendors o Danfoss AS o Mitsubishi Electric Corp. o NIBE Industrier AB o Robert Bosch GmbH o Stiebel Eltron (Aust) Pty. Ltd. o Trane Technologies Plc o United Technologies Corp. o Vaillant GmbH o Viessmann Werke GmbH & Co. KG o Weishaupt (UK) Ltd. • Appendix o Scope of the report o Currency conversion rates for US$ o Research methodology o List of abbreviations Exhibits • 1.Key Finding 1 • 2.Key Finding 2 • 3.Key Finding 3 • 4.Key Finding 5 • 5.Key Finding 6 • 6.Key Finding 7 • 7.Key Finding 8 • 8.Market in focus • 9.Parent market • 10.Market characteristics • 11.Offerings of vendors included in the market definition • 12.Market segments • 13.Global - Market size and forecast 2019 - 2024 ($ billion) • 14.Global market: Year-over-year growth 2019 - 2024 (%) • 15.Five forces analysis 2019 & 2024 • 16.Bargaining power of buyers • 17.Bargaining power of suppliers • 18.Threat of new entrants • 19.Threat of substitutes • 20.Threat of rivalry • 21.Market condition - Five forces 2019 • 22.End user placement - Market share 2019-2024 (%) • 23.Comparison by End user • 24.Residential - Market size and forecast 2019-2024 ($ billion) • 25.Residential - Year-over-year growth 2019-2024 (%) • 26.Non-residential - Market size and forecast 2019-2024 ($ billion) • 27.Non-residential - Year-over-year growth 2019-2024 (%) • 28. Market opportunity by End user • 29.Customer landscape • 30.Market share by geography 2019-2024 (%) • 31.Geographic comparison • 32.Europe - Market size and forecast 2019-2024 ($ billion) • 33.Europe - Year-over-year growth 2019-2024 (%) • 34.North America - Market size and forecast 2019-2024 ($ billion) • 35.North America - Year-over-year growth 2019-2024 (%) • 36.APAC - Market size and forecast 2019-2024 ($ billion) • 37.APAC - Year-over-year growth 2019-2024 (%) • 38.South America - Market size and forecast 2019-2024 ($ billion) • 39.South America - Year-over-year growth 2019-2024 (%) • 40.MEA - Market size and forecast 2019-2024 ($ billion) • 41.MEA - Year-over-year growth 2019-2024 (%) • 42.Key leading countries • 43.Market opportunity by geography ($ billion) • 44.Impact of drivers and challenges • 45.Vendor landscape • 46.Landscape disruption • 47.Industry risks • 48.Vendors covered • 49.Market positioning of vendors • 50.Danfoss AS - Overview • 51.Danfoss AS - Business segments • 52.Danfoss AS - Key offerings • 53.Danfoss AS - Key customers • 54.Danfoss AS - Segment focus • 55.Mitsubishi Electric Corp. - Overview • 56.Mitsubishi Electric Corp. - Business segments • 57.Mitsubishi Electric Corp. - Key offerings • 58.Mitsubishi Electric Corp. - Key customers • 59.Mitsubishi Electric Corp. - Segment focus • 60.NIBE Industrier AB - Overview • 61.NIBE Industrier AB - Business segments • 62.NIBE Industrier AB - Key offerings • 63.NIBE Industrier AB - Key customers • 64.NIBE Industrier AB - Segment focus • 65.Robert Bosch GmbH - Overview • 66.Robert Bosch GmbH - Business segments • 67.Robert Bosch GmbH - Key offerings • 68.Robert Bosch GmbH - Key customers • 69.Robert Bosch GmbH - Segment focus • 70.Stiebel Eltron (Aust) Pty. Ltd. - Overview • 71.Stiebel Eltron (Aust) Pty. Ltd. - Product and service • 72.Stiebel Eltron (Aust) Pty. Ltd. - Key offerings • 73.Stiebel Eltron (Aust) Pty. Ltd. - Key customers • 74.Stiebel Eltron (Aust) Pty. Ltd. - Segment focus • 75.Trane Technologies Plc - Overview • 76.Trane Technologies Plc - Business segments • 77.Trane Technologies Plc - Key offerings • 78.Trane Technologies Plc - Key customers • 79.Trane Technologies Plc - Segment focus • 80.United Technologies Corp. - Overview • 81.United Technologies Corp. - Business segments • 82.United Technologies Corp. - Key offerings • 83.United Technologies Corp. - Key customers • 84.United Technologies Corp. - Segment focus • 85.Vaillant GmbH - Overview • 86.Vaillant GmbH - Product and service • 87.Vaillant GmbH - Key offerings • 88.Vaillant GmbH - Key customers • 89.Vaillant GmbH - Segment focus • 90.Viessmann Werke GmbH & Co. KG - Overview • 91.Viessmann Werke GmbH & Co. KG - Product and service • 92.Viessmann Werke GmbH & Co. KG - Key offerings • 93.Viessmann Werke GmbH & Co. KG - Key customers • 94.Viessmann Werke GmbH & Co. KG - Segment focus • 95.Weishaupt (UK) Ltd. - Overview • 96.Weishaupt (UK) Ltd. - Product and service • 97.Weishaupt (UK) Ltd. - Key offerings • 98.Weishaupt (UK) Ltd. - Key customers • 99.Weishaupt (UK) Ltd. - Segment focus • 100.Currency conversion rates for US$ • 101.Research Methodology • 102.Validation techniques employed for market sizing • 103.Information sources • 104.List of abbreviations

Danfoss AS, Mitsubishi Electric Corp., NIBE Industrier AB, Robert Bosch GmbH, Stiebel Eltron (Aust) Pty. Ltd., Trane Technologies Plc, United Technologies Corp., Vaillant GmbH, Viessmann Werke GmbH & Co. KG, Weishaupt (UK) Ltd.