U.S. Residential Furnace Market Size

U.S. Residential Furnace Market Size

U.S. Residential Furnace Market size was over USD 115 billion in 2018 and industry expects demand of above 100 million units by 2025.

Growing investments in construction sector supported by consumer inclination towards energy efficient solutions to save power consumption is anticipated to stimulate industry growth. Increasing power consumption and stringent environment regulations limiting energy usage may further fuel U.S. residential furnace market size.
 

U.S. housing units were over 135 million in 2017 and is anticipated to witness up rise owing to growing construction and rising need for independent houses, which may boost U.S. residential furnace market size. These products are extensively used in residential buildings to regulate temperature in winter and summer by providing consistent air circulations, which may drive product demand by 2025.
 

Continuous innovation including use of inducer fan in the furnace to reduce waste and save power is anticipated to propel industry growth. New and modern furnace automatically adjusts itself to provide right amount of heat for maintaining temperature of thermostat and control system, thereby propelling industry growth.
 

Temperature variations in U.S. regions result in extreme hot or cold weather which stimulates residential furnace demand. These products work at full capacity in cold days and operates at a low power to provide warm air. These factors are likely to fuel product demand.
 

It helps in saving time, cost, power and construction space along with providing comfort and high efficiency. Features including high Annual Fuel Utilization Efficiency (AFUE) along with presence of variable speed motor blower results in quite operation, which removes unnecessary noise and sound. These factors are likely to boost U.S. residential furnace market size in projected timeline.
 

Rising disposable income has led to growth in living standards and consumer are focusing on new and emerging products to make houses more comfortable for ease of living. These products have continuous airflow which can eliminate hot & cold spots and also provide advanced summer humidity control and warmth in winter season which may boost U.S. household furnace market size in forecast timeline.
 

Gas residential furnace is not good for milder temperature and has no middle setting which may hamper industry growth. High repairing cost of electric based systems along with its high running cost and low efficiency in heating large spaces may to impact U.S. household  furnace market price trend, thereby affecting industry profitability.