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U.S. Residential Furnace Market Analysis

  • Report ID: GMI3235
  • Published Date: Apr 2019
  • Report Format: PDF

U.S. Residential Furnace Market Analysis

U.S. residential gas furnace market size is anticipated to surpass USD 80 billion by 2025. It runs at low cost due to moderate natural gas prices and has ability to heat household area more quickly as compared to electric furnace. It is extensively used in areas which experience extreme winter temperatures due to the presence of combustion chamber inside gas furnace which reaches high temperature, thereby giving warmth to the buildings.

U.S. electric residential furnace market size is anticipated to witness gains over 5.5% by 2025. It has low purchase price and has simple technology which makes it easier to operate without any complexities. Coils used in these systems are relatively cheaper and consumer spending becomes 25% to 30% less on electric furnace models as compared to gas systems.

U.S. residential furnace market size from single family application is anticipated to witness gains over 5% by 2025. Availability of easy loans rise in new construction activities and growing need for independent houses should stimulate product demand. Natural gas furnace is generally used in single family buildings due to its low operating cost along with its high output, thereby propelling industry growth.

California residential furnace market size is anticipated to reach 15 million units by 2025. Household furnace do not depend on heat from outside air and can perform its operations in extreme hot or cold weather, thereby propelling product demand.

Texas residential furnace market size is may register gains over 4.5% by 2025. Household furnaces care moderately used in southern region due to slight fall in the temperature which can be managed without the use of these system. However, other regions in Texas face a relatively high fall in the temperature and can get cold, thereby driving product demand.

New York residential furnace industry size may register gains over 5% by 2025. The region has diversified climate across the year which amplifies demand for energy efficient and high output systems like gas furnace. It has high installations cost; however, it has low running cost and high efficiency, making it an ideal system for heating & cooling purpose, thus propelling product demand.

Florida household furnace market size register steady gains as this part of the country experience mild temperature; however, weather can get cold and chilly which propels demand for furnace systems to keep the house comfortable and warm. Furnace is a better choice for this region as compared to heat pumps owing to its versatility of operating through numerous throughputs including oil, gas, electricity and wood, thereby driving product demand.

Authors: Kunal Ahuja, Sarita Bayas

Frequently Asked Questions (FAQ) :

The market size of U.S. residential furnace was crossed at over USD 115 billion in 2018.

The industry share of U.S. residential furnace is estimated to exhibit around 8.8% CAGR from 2019 to 2025.

U.S. Residential Furnace Market Scope

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Premium Report Details

  • Base Year: 2018
  • Companies covered: 16
  • Tables & Figures: 181
  • Countries covered: 25
  • Pages: 200
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