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U.S. Residential Furnace Market Growth Forecast 2019 - 25 by Regional Manufacturers

Author : Rahul Varpe | Published Date : 2019-09-16 

The U.S. Residential Furnace Market report offers detailed competitive landscape of the global market. It includes company, market share analysis, product portfolio of the major industry participants. The report provides detailed segmentation of the U.S. Residential Furnace Market based on product, technology, end user and region.

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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.

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.

U.S. Residential Furnace Market by Product:

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

Important pointers encompassed pertaining to the product spectrum:

  • The report encompasses major details about the product spectrum.
  • The target valuation that each of the sub-segments of the product landscape will procure by the end of the anticipate period are mentioned in the report.
  • The market share that these sub-segments held are also entailed in the study.
  • The global trends that define the product landscape are discussed in the report.

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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.

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).

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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.

Related News: https://www.marketwatch.com/press-release/commercial-refrigeration-equipment-market-study-report-2019-daikin-industries-dover-corporation-ab-electrolux-johnson-controls-are-top-manufacturers-2019-09-16

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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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