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.
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.
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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 share is moderately fragmented. Major player operating in the industry includes:
- Boyer Town Furnace
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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.
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.
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