+1-888-308-5802     
News Contact Us

U.S. Residential Furnace Market By Statistics & Growth Forecast 2019-2025

Author : Rahul Varpe | Published Date : 2019-07-17 

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.

Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/3235 

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.

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.

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.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/3235

However, the more important reason was possibly the abundance of natural gas supply in the U.S. The supply of natural gas in the U.S, had been steadily rising since late 2016 and regularly hit new highs over 2018. Besides the stockpile of natural gas in the U.S., the tremendous year-on-year production growth helped consumers stay warm without worrying that their utility bill will possibly go through the roof.

As per Global Market Insights, Inc., oil-based U.S. residential furnace market size is anticipated to register a CAGR of 4% over 2019-2025, perhaps because a mid-efficiency oil furnace alone can have AFUE of up to 87%. Besides incorporating more efficient heat exchangers and having greater precision in combustion air and venting control, mid-efficiency oil furnaces are also equipped with high-static burners that extract more heat from the fuel.

High-end furnaces are likely to carve out their own niche in the expansive U.S. residential furnace market. As consumers continue to battle worsening weather conditions while demanding comfort, high-efficiency, quiet operation, reliability and quality in their furnace systems, the U.S. residential furnace industry is likely to accumulate substantial proceeds by 2025.

Related news - https://www.marketwatch.com/press-release/plastic-fencing-market-2019-2024-statistics-by-regions-americas-europe-apac-and-emea-2019-07-17

https://www.marketwatch.com/press-release/steel-rebar-market-2019-2024-statistics-by-regions-americas-europe-apac-and-emea-2019-07-17

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. 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 online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

Related News

Performance Elastomers Market to depict an upward growth trend over 2019 - 2024

Published Date: 2019-08-22         Author: Rahul Varpe

The growth of the performance elastomers market in Europe and North America has been forecast to be slightly moderate as compared to its growth in Asia and Latin America, not only due to the shifting base of manufacturing units, but also due to cheaper labor and relaxed governmental restrictions on ... Read More

Lubricant Packaging Market to register extensive growth from automobile applications by 2024

Published Date: 2019-08-22         Author: Rahul Varpe

Exponentially growing automotive domain is one of principal end-use sectors that would considerably influence the revenue graph of lubricant packaging market, subject to the increasing deployment of lubricants for enhancing engine performance. According to CalRecycle, in 2010, the consumption of lub... Read More

2019 – 2025 | Industrial Cooling System Market to procure substantial revenue from food and beverages sector

Published Date: 2019-08-22         Author: Rahul Varpe

With the establishment of many foreign manufacturing and production units in the developing nations, the demand for industrial cooling systems is rising steadily. Moreover, favorable government regulations coupled with ever-expanding application domain would increase the product demand. Many compani... Read More

© 2019 Fractovia. All Rights Reserved