United States Residential Furnace Market Research Report: Share, Trends, Industry Growth, Opportunity, Application, Production, Segmentation, Company Profile, Product Picture and Specifications during the Forecast period by 2025
U.S. residential furnace market from multifamily application is anticipated to witness gains over 5% by 2025. Multifamily heating systems are majorly utilized in multi-story residential structures owing to uniform temperature distribution, unit centralization and cost-effectiveness. Rising mid and high-rise residential building construction across U.S. owing to increasing migration and growing tourism sector should stimulate industry growth.
U.S. Residential Furnace Market is set to surpass USD 200 billion by 2025; according to a new research report. 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.
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
Growing LEED certification trend for residential and commercial building ensuring healthy, cost saving, and highly efficient green building should propel gas residential heating furnace product demand. Shifting preference towards clean heating systems over other fuel powered including coal, diesel and wood should boost U.S. residential furnace market.
Gas residential furnace performance inefficiency at milder temperature may hamper U.S. residential furnace market growth. Higher maintenance cost of electric furnace along with lower large space heating efficiency may impact market price trend, thus affecting industry profitability.
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Increasing renovation projects in states including Texas and Louisiana due to destruction by Harvey hurricane should foster residential construction sector which should boost residential furnace product demand. Growing utilization of modern heating technologies over conventional systems in renovation projects owing to easy assembly and lower installation cost should boost U.S. residential furnace market.
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.