U.S. Heating Equipment Market Size, Share & Trends Analysis Report By Equipment (Heat Pumps, Furnaces, Boilers, Unitary Heaters, Others), By Application (Residential, Commercial, Industrial), By Region, And Segment Forecasts, 2023 - 2030
U.S. Heating Equipment Market Growth & Trends
The U.S. heating equipment market size is expected to reach USD 5.88 billion by 2030, registering a CAGR of 4.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. Growing demand for energy-efficient heating equipment and favorable government initiatives is projected to augment market demand over the coming years. The heat pumps segment occupied the largest share in 2015 on account of its increasing preference in the industrial and commercial sectors. Heat pumps are very efficient in converting energy to heat at low operational costs.
Boilers and furnaces are extensively used heating systems in the residential sector. Electric furnaces are gaining wide preference as they require less maintenance, are one of the least expensive, and are free from harmful emissions. Boilers are further categorized on the basis of product, size, and technology.
The growth of the housing and construction sector for the single and multi-unit dwelling is expected to boost the demand for over the coming years. The sluggish oil & gas prices have further facilitated the wide application of heating equipment in the U.S. industrial and residential segment
Favorable federal and state policies in the U.S. are projected to further drive the demand. Installing an energy-efficient heating system qualifies residential buyers to claim 10% of the cost of labor, professional preparation, and cost of installation. Rising awareness of greenhouse emissions has led to the replacement of old heating equipment by new energy-efficient solutions thereby facilitating the U.S. heating equipment market growth.
U.S. Heating Equipment Market Report Highlights
Heat pumps segment accounted for 34.1% of the market revenue in 2022
Heat pumps are used for temperatures with moderate heating and cooling requirements, thereby finds increased application in the residential segment
Easy credit accessibility or financial support is anticipated to spur consumer spending on renovation and remodeling activities, which, in turn, will benefit the heating equipment market
Steam boilers accounted for the largest market share in 2022
ECO-Labelling of heating equipment is used to encourage and guide customers in their choice of products
The emergence of climate and energy as a political priority has spurred an increased interest in heating and energy efficiency gains to be realized within buildings.
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Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.1. Equipment
1.1.2. Application
1.1.3. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. GVR’s internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.3.5. Details of primary research
1.4. Information or Data Analysis
1.5. Market Formulation & Validation
1.6. Model Details
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Equipment outlook
2.2.2. Application outlook
2.3. Competitive Insights
Chapter 3. U.S. Heating Equipment Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Value Chain Analysis
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.5.3. Industry opportunities & challenges
3.6. U.S. Heating Equipment Market Analysis Tools
3.6.1. Industry Analysis - Porter’s
3.6.1.1. Supplier power
3.6.1.2. Buyer power
3.6.1.3. Substitution threat
3.6.1.4. Threat of new entrant
3.6.1.5. Competitive rivalry
3.6.2. PESTEL Analysis
3.6.2.1. Political landscape
3.6.2.2. Technological landscape
3.6.2.3. Economic landscape
3.6.2.4. Environmental landscape
3.6.2.5. Social landscape
3.6.2.6. Legal landscape
Chapter 4. Supplier Portfolio Analysis
4.1. List of Suppliers
4.2. Kraljic Matrix
4.3. Sourcing Best Practices
4.4. Negotiation Strategies
Chapter 5. U.S. Heating Equipment: Equipment Estimates & Trend Analysis
5.1. U.S. Heating Equipment Market: Key Takeaways
5.2. U.S. Heating Equipment Market: Movement & Market Share Analysis, 2022 & 2030
5.3. Heat Pumps
5.3.1. Heat pumps market estimates and forecasts, 2018 to 2030 (USD Million)
5.4. Furnaces
5.4.1. Furnaces market estimates and forecasts, 2018 to 2030 (USD Million)
5.5. Boilers
5.5.1. Boilers market estimates and forecasts, 2018 to 2030 (USD Million)
5.5.1.1. The U.S. boilers market product outlook
5.5.1.1.1. The U.S. boilers market product outlook market estimates and forecasts, 2018 to 2030 (USD Million)
5.5.1.1.1.1. Water boilers
5.5.1.1.1.1.1. Water boilers market estimates and forecasts, 2018 to 2030 (USD Million)
5.5.1.1.1.2. Steam boilers
5.5.1.1.1.2.1. Steam boilers market estimates and forecasts, 2018 to 2030 (USD Million)
5.5.1.2. The U.S. boilers market size outlook
5.5.1.2.1. The U.S. boilers market size outlook product outlook market estimates and forecasts, 2018 to 2030 (USD Million)
5.5.1.2.1.1. <10 MMBtu/hr
5.5.1.2.1.1.1. <10 MMBtu/hr market estimates and forecasts, 2018 to 2030 (USD Million)
5.5.1.2.1.2. 10-50 MMBtu/hr
5.5.1.2.1.2.1. 10-50 MMBtu/hr market estimates and forecasts, 2018 to 2030 (USD Million)
5.5.1.2.1.3. 50-100 MMBtu/hr
5.5.1.2.1.3.1. 50-100 MMBtu/hr market estimates and forecasts, 2018 to 2030 (USD Million)
5.5.1.2.1.4. 100-250 MMBtu/hr
5.5.1.2.1.4.1. 100-250MMBtu/hr market estimates and forecasts, 2018 to 2030 (USD Million)
5.5.1.2.1.5. >250 MMBtu/hr
5.5.1.2.1.5.1. >250 MMBtu/hr market estimates and forecasts, 2018 to 2030 (USD Million)
5.5.1.3. The U.S. boilers market technology outlook
5.5.1.3.1. The U.S. boilers market technology outlook market estimates and forecasts, 2018 to 2030 (USD Million)
5.5.1.3.1.1. Water-tube boilers
5.5.1.3.1.1.1. Water-tube boilers market estimates and forecasts, 2018 to 2030 (USD Million)
5.5.1.3.1.2. Fire-tube boilers
5.5.1.3.1.2.1. Fire-tube boilers market estimates and forecasts, 2018 to 2030 (USD Million)
5.6. Unitary Heaters
5.6.1. Unitary heaters market estimates and forecasts, 2018 to 2030 (USD Million)
5.7. Others
5.7.1. Others market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 6. U.S. Heating Equipment: Application Estimates & Trend Analysis
6.1. U.S. Heating Equipment Market: Key Takeaways
6.2. U.S. Heating Equipment Market: Movement & Market Share Analysis, 2022 & 2030
6.3. Residential
6.3.1. Residential market estimates and forecasts, 2018 to 2030 (USD Million)
6.4. Commercial
6.4.1. Commercial market estimates and forecasts, 2018 to 2030 (USD Million)
6.5. Industrial
6.5.1. Industrial market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 7. Competitive Landscape
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Market Participant Categorization
7.2.1. Ingersoll Rand
7.2.1.1. Company overview
7.2.1.2. Financial performance
7.2.1.3. Equipment benchmarking
7.2.1.4. Strategic initiatives
7.2.2. Lennox International Inc.
7.2.2.1. Company overview
7.2.2.2. Financial performance
7.2.2.3. Equipment benchmarking
7.2.2.4. Strategic initiatives
7.2.3. Burnham Holdings, Inc.,
7.2.3.1. Company overview
7.2.3.2. Financial performance
7.2.3.3. Equipment benchmarking
7.2.3.4. Strategic initiatives
7.2.4. Johnson Controls
7.2.4.1. Company overview
7.2.4.2. Financial performance
7.2.4.3. Equipment benchmarking
7.2.4.4. Strategic initiatives
7.2.5. Robert Bosch GmbH
7.2.5.1. Company overview
7.2.5.2. Financial performance
7.2.5.3. Equipment benchmarking
7.2.5.4. Strategic initiatives
7.2.6. Honeywell International Inc.
7.2.6.1. Company overview
7.2.6.2. Financial performance
7.2.6.3. Equipment benchmarking
7.2.6.4. Strategic initiatives
7.2.7. Daikin Comfort Technologies North America, Inc.