U.S. Residential Furnace Market to 2025 | Growth Drivers, Regional Insights and Revenue Forecast
Category: #reports  By Rahul Varpe  Date: 2020-04-07
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U.S. Residential Furnace Market to 2025 | Growth Drivers, Regional Insights and Revenue Forecast

An effective indoor heating system is a top necessity in such cold weathers and though the polar vortex in January 2019 was an exception, most winters in the U.S. lead to sub-zero temperatures in a significant part of the country, making furnaces, boilers and heat pumps a common feature in most American homes. With global warming being closely linked to more such extreme weather conditions in the future, the U.S. residential furnace market is forecast to witness a positive outlook over 2019-2025.

The U.S. Residential Furnace Market is anticipated to record its name in the billion-dollar space within seven years, by exceeding a revenue of $200 billion by 2025, with an anticipated CAGR of 8.8% through 2025.

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The U.S. residential furnace market has recorded steady growth over the last half a decade, due to indoor heating having become more a necessity than a luxury in most U.S. homes. For instance, in January 2019, the country fell into the clutches of a devastating cold front or a polar vortex that caused extreme low temperatures, wind and precipitation. While temperatures reached record low in most states, people were advised to remain indoors to avoid the effects of hypothermia and frostbite.

The logic that global warming will add an impetus to the U.S. residential furnace market may sound paradoxical but that is exactly what is happening at present. Research shows that the jet stream is being altered by a warming Arctic and pushing down of the polar air on latitudes in the northern hemisphere that are unaccustomed to such coldness. Northeast and Midwestern U.S. experienced the resultant deep freeze and therefore the homes in these areas are expected to be better prepared for such extremities in the future. Such factors will not only push the sale of residential furnaces but will also lead to the upgrading of older furnaces to be more suitable for the modern demands of energy and cost efficiency, which will ultimately lead to the growth of the U.S. residential furnace industry.

Another factor that will add a considerable impetus to the U.S. residential furnace market would be the availability of cheap natural gas. Though Midwest and Northeast U.S. were overcome by the massive cold front and demand for natural gas, the price of natural gas has not registered a similar spike. One reason for the cost remaining stable in spite of the 40% rise in demand for natural gas in residential and commercial heating was the forecast that the bone-chilling weather will be short lived.

Market Growth Drivers: -

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

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Know about Market growth in New Research and its Top growing factors by Key Companies like

Carrier, York, Lennox, Rheem, Bryant, Daikin, Luxaire, Fujistu-General, Boyer Town Furnace, Rudd, Colemanac, Dettson, Goodman Manufacturing, Amana, Heil, Trane

Comprehensive Review of Market by Product

  1. Gas furnace
  2. Oil furnace
  3. Electric furnace
  4. Wood furnace
  5. Hybrid furnace

Comprehensive Review of Market by Applications

  1. Single Family
  2. Multi Family

The Regional Evaluation Ensures:

California, Texas New York, Florida, Illinois, Ohio, New Jersey, North Carolina, Massachusetts, Virginia, Washington, Michigan, Indiana, Minnesota, Wisconsin, Missouri, Oregon, South Carolina, Kentucky, Iowa, Oklahoma, Utah, Kansas, Nevada, Arkansas

The research report presents a detailed outline of U.S. Residential Furnace Market – this is mainly inclusive of the generic market definitions, the numerous segmentations, as well as the application landscape. The report outlines a detailed examination of the industry vendors – from a regional and global perspective.

An exhaustive brief of the various forecast trends and demand till the year 2025 has been given in the report. The study is inclusive of information pertaining to the numerous firms that form a part of the competitive terrain of this business sphere. Also, the report contains, in exclusive detail, information on the many innovations in this sector, technologies adopted, and also many other factors impacting the product demand.

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Market Report Includes

  1. An analysis with respect to the present industry scenario in tandem with opportunities for growth opportunities, important vendors, target audience, and market projection until 2025
  2. A comprehensive evaluation with regards to the industry size, growth anticipation, industry remuneration, and major contenders until 2025
  3. A scrutiny of the growth opportunities, expansion forecast, remuneration, and Forecast 2019- 2025
  4. Information on Primary and Secondary Research, Consumption Analysis, Market Segmentation, and Forecast until 2025
  5. An in-depth research on the Emerging Growth Parameters, Market Dynamics, Export Research Report, and Forecast to 2025
  6. Market Analysis, Strategic Developments, as well as Forecast 2025
  7. Product applications, industry trends, technological developments, and current demand and Forecast by 2025

Related News: https://www.marketwatch.com/press-release/compressed-air-cleaning-equipment-market-regional-trends-growth-forecast-to-2026-2020-04-07

About Author

Rahul Varpe

Email: [email protected]   

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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