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U.S. Residential Furnace Market 2019 | Insights & Forecast Research Report 2025

Author : Rahul Varpe | Published Date : 2019-08-19 

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 market.

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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 recovering economy in the U.S. has also made consumers seek out the best heating system for the house and increasing disposable incomes have come to mean that a section of consumers, who are more self-educated about HVAC systems and aware of the functions of such systems. According to experts, it will take quite a while for high end furnaces to become mainstream due to the fact that they are only compatible with high end HVAC systems. Yet, an upward trend has been noted in terms of Monthly Shipments of such products, as confirmed by the 2017 figures provided by U.S. Air-Conditioning, Heating, & Refrigeration Institute (AHRI).

Residential Furnace Market in U.S., by Product:

  • Gas furnace
  • Oil furnace
  • Electric furnace
  • Wood furnace
  • Hybrid furnace

U.S. Residential Furnace Market, by Application:

  • Single Family
  • Multifamil

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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/2019---2023-earthmoving-equipment-market-future-growth-opportunities-by-leading-manufacturers-2019-08-19

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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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

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