The U.S. Heating Equipment Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The U.S. heating equipment market is projected to value USD 6.09 billion until 2027. It is expected to register a CAGR of 6.02% over the forecasted years, 2020 to 2027. Rising demand for efficient heating equipment due to extreme climatic conditions prevailing across different zones and continuous growth of the manufacturing industry is anticipated to drive the market growth.
Key Players:
- United Technologies Corporation
- Ingersoll-Rand plc
- Lennox International, Inc.
- Burnham Holdings, Inc.
- Johnson Controls, Inc.
- Robert Bosch GmbH
- Honeywell International, Inc.
- Goodman Manufacturing Company, L.P.
- Emerson Electric Company
- Rheem Manufacturing Company, Inc.
- American Heating Company, Inc.
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Growth Drivers:
The demand for energy-efficient and certified products is increasing at a rapid pace. This can be attributed to the surging energy consumption across residential and industrial sectors. Thus, the need for reducing operational costs and energy saving has been on the rise for the last few years.
The heating equipment market across the U.S. is driven by the U.S. federal & state policies that provide tax rebates, credits, and additional incentives for promoting the installation of energy-efficient systems. Moreover, huge investments for carrying out replacement and repair activities across the construction sector are expected to augment the market growth over the forecasted period, 2020 to 2027.
Product Outlook:
- Heat pumps
- Furnaces
- Boilers
- S. boilers market product outlook
- Water boilers
- Steam boilers
- S. boilers market size outlook
- <10 MMBtu/hr
- 10-50 MMBtu/hr
- 50-100 MMBtu/hr
- 100-250 MMBtu/hr
- >250 MMBtu/hr
- S. boilers market technology outlook
- Water-tube boilers
- Fire-tube boilers
- Unitary Heaters
- S. boilers market product outlook
Application Insights:
The market can be segmented into industrial, residential, and commercial applications. In 2019, the industrial application segment held the largest share across the market. This can be associated with the rising usage of these systems across the automotive, food & beverage, and mining industries. Moreover, surging investments being undertaken by the governing bodies for the development of the manufacturing sector are estimated to propel the demand for heating equipment over the years to come.
COVID-19 Impact Insights:
The U.S. heating equipment market is negatively impacted due to the ongoing COVID-19 crisis. Lockdown imposition and travel restrictions across several states have affected the production and supply chain. This has brought economic stagnancy and instability across the industrial sector. Moreover, school and office shutdown owing to work from home policies have reduced the commercial demand for heating equipment.
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