-- 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.
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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. 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.
Browse key industry insights report, “U.S. Residential Furnace Market Size, By Product (Gas Furnace, Electric Furnace, Oil Furnace, Wood Furnace, Hybrid Furnace), By Application (Single Family, Multi Family), Regional Outlook (California, Texas New York, Florida, Illinois, Ohio, New Jersey, North Carolina, Massachusetts, Virginia, Washington, Michigan, Indiana, Minnesota, Wisconsin, Missouri, Oregon, South Carolina, Kentucky, Iowa, Oklahoma, Utah, Kansas, Nevada, Arkansas), Price Trend, Competitive Market Share & Forecast, 2019 – 2025”.
https://www.gminsights.com/industry-analysis/us-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.
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.
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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.
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.
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