Warm Air Furnaces Market Share, Size, Trends, Industry Analysis Report, By Type (Gas Warm Air Furnaces, Oil Warm Air Furnaces), By Application, By Region, And Segment Forecasts, 2023 - 2032

Warm Air Furnaces Market Share, Size, Trends, Industry Analysis Report, By Type (Gas Warm Air Furnaces, Oil Warm Air Furnaces), By Application, By Region, And Segment Forecasts, 2023 - 2032

The global warm air furnaces market size is expected to reach USD 10.92 billion by 2032, according to a new study by Polaris Market Research. The report “Warm Air Furnaces Market Share, Size, Trends, Industry Analysis Report, By Type (Gas Warm Air Furnaces, Oil Warm Air Furnaces), By Application, By Region, And Segment Forecasts, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Rising investments in construction projects, coupled with a rising appetite for exceptionally energy-efficient heating alternatives, are anticipated to propel the global demand for warm-air furnaces. Moreover, advantageous governmental initiatives, including incentives aimed at promoting the adoption of energy-efficient warm-air furnaces, are projected to impact the market positively. Furnaces employ heat to distribute warmed air via ducts throughout residential areas, particularly when faced with significant temperature fluctuations. Additionally, in 2022, the U.S. Energy Information Administration (EIA) documented that out of the 911,000 new single-family homes, 538,000 were equipped with forced-air furnaces.

Construction activity in the United States exhibited a remarkable annual increase of more than 6% in both 2021 and 2022. This surge can be largely attributed to the robust demand for single-family homes, which stands as the primary driver behind the swift growth in residential construction. The persistently high demand for home renovations and enhancements remains robust due to heightened discretionary spending within households. A substantial portion of this expansion will stem from a notable upswing in expenditures on residential building construction.

Furnace efficiency in the United States is regulated by the minimum Annual Fuel Utilization Efficiency (AFUE) standard. This standard calculates seasonal efficiency by averaging performance during both peak and part-load scenarios. Beyond considering the electricity consumption of components such as air handler, inducer fan, and controls, AFUE incorporates factors such as start-up, cool-down, and operating losses that occur in real-world conditions. A higher AFUE indicates enhanced efficiency for the furnace or boiler.

Commercial warm-air furnaces are required to possess a minimum capacity of 225,000 Btu/hr and are designed to furnish heated air through a network of ducts. In practical application, these commercial furnaces typically form the gas or propane heating components within integrated rooftop units employed in small to medium-sized commercial structures. Utilizing condensing technology, these furnaces capitalize on energy conservation by extracting added heat through the condensation of water vapor in the gases, thereby attaining efficiency levels of 90% or higher.

Warm Air Furnaces Market Report Highlights

Gas warm furnaces garnered the largest share, as they are cost-effective, environment-friendly, and can be used in wide settings

The residential segment will exhibit high growth, owing to increasing population and housing demand

North America leads in revenue due to government investments in infrastructure, residential construction, and increasing energy conservation awareness.

Key players include Carrier Corp., Mitsubishi Electric, Emerson Electric, Ingersoll-Rand, Daikin Industries, Rheem Manufacturing, Johnson Controls, Robert Bosch, Viessmann Group, Lennox International, Goodman Manufacturing, and Fujitsu.

Polaris Market Research has segmented the warm air furnaces market report based on type, application, and region:

Warm Air Furnaces, Type Outlook (Revenue - USD Billion, 2019 - 2032)

Gas Warm Air Furnaces

Oil Warm Air Furnaces

Warm Air Furnaces, Application Outlook (Revenue - USD Billion, 2019 - 2032)

Residential

Industrial

Commercial

Warm Air Furnaces, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa