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U.S. Residential Furnace Market Size
- Report ID: GMI3235
- Published Date: Nov 2024
- Report Format: PDF
U.S. Residential Furnace Market Size
The U.S. residential furnace market was valued at USD 5.3 billion in 2023 and is estimated to grow at a CAGR of over 5% from 2024 to 2032. Residential furnaces are essential for home heating, providing warmth and comfort. As concerns about energy use and the environment grow, the demand for energy-efficient heating solutions is rising in the market. With a focus on sustainability, consumers are looking for furnaces that save energy and reduce utility bills. This trend matches the increase in residential construction and renovation, where new homeowners and renovators prioritize energy efficiency. Manufacturers are responding by offering advanced, energy-efficient furnace models to meet this demand.
Government incentives and rebates for HVAC upgrades also boost market growth. These financial incentives encourage homeowners to replace old heating systems with modern, efficient ones, making it easier to switch to greener options. This combination of factors shows a broader move towards sustainable living, where energy efficiency improves comfort and meets regulatory and consumer needs.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| U.S. Residential Furnace Market Size in 2023: | USD 5.3 Billion |
| Forecast Period: | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR: | 5% |
| 2024 – 2032 Value Projection: | USD 8.3 Billion |
| Historical Data for: | 2021-2023 |
| No. of Pages: | 220 |
| Tables, Charts & Figures: | 240 |
| Segments covered: | Product, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
U.S. Residential Furnace Market Scope
