U.S. Residential Furnace Market Growth 2020 |Top Key Players Analysis, Trends, Global Size Forecast To 2025
Category: #world  By Rahul Varpe  Date: 2020-04-22
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U.S. Residential Furnace Market Growth 2020 |Top Key Players Analysis, Trends, Global Size Forecast To 2025

U.S. Residential Furnace Market share was valued at USD 115 billion in the year 2018 and is projected to surpass a revenue of USD 200 billion by the year 2025. Rising residential furnace demand owing to increasing population and temperature uncertainty due to global climate change resulting to drastic fall in temperature should boost product demand. This equipment operate in lower temperature regions with optimum power utilization which will accelerate U.S. residential furnace market.

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Minnesota gas household furnace market may surpass USD 9.5 billion by 2025. State government initiatives including Minnesota sustainable housing initiative recommending utilization of gas furnace due to eco-friendly, economic and low energy consumption should U.S. residential furnace market growth.

Supportive regulatory landscape to standardize residential furnace products which includes American federal government Rule 1111 and 4905 to lower levels of nitrogen oxide emission from furnaces will propel market growth. These regulations are providing opportunities to manufacturers for innovative processes for residue reduction and enhanced product quality.

Wisconsin residential furnace market may poise to surpass USD 5 billion by 2025. Frequent winter storms have increased prevalence of potential health threats including frostbite and hypothermia which should increase residential heat equipment's demand thus, driving U.S. residential furnace market.

Market Growth Drivers - 

  1. Growing residential construction sector may propel industry growth
  2. Strignent regulations regarding energy efficiecy of heating devices may stimulate demand for innovative and sustainable products

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U.S. combination residential furnace market may witness steady gains owing to shifting consumer trends utilizing combination of gas, fuel, wood and electric based system owing to long term cost saving and minimize environmental impact should propel product demand. Government incentives provided through federal energy star program and state's building code to promote more energy efficient heating equipment should accelerate U.S. residential furnace market.

Shifting manufacturers preferences towards EC (electrically commuted) from PSC (Permanent Split Capacitor) motors owing to superior fan efficiency rating should promote industry growth. Residential furnaces powered by EC motors provides 85% efficiency as compared to PSC offering 65% which should propel product demand.

U.S. residential furnace market share is moderately fragmented. Major player operating in the industry includes Boyer Town Furnace, York, Carrier, Luxaire, Lennox, Amana, Bryant, Rheem, Rudd, and Daikin.



About Author

Rahul Varpe

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Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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