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U.S. Residential Furnace Market Trends

Report ID: GMI3235
Published Date: Nov 2024
Report Format: PDF

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U.S. Residential Furnace Market Trends

The U.S. residential furnace industry is evolving with several key trends. One major trend is the growing use of smart technology in heating systems. Consumers are choosing smart furnaces that can be controlled and monitored remotely through mobile apps, making them more convenient and energy efficient. Another trend is the focus on hybrid heating systems that combine traditional furnaces with renewable energy sources like solar power or heat pumps, offering more sustainable heating options.

The market is also moving towards modular and compact furnace designs, which are ideal for small homes and urban areas. Additionally, as people become more environmentally conscious, there is a preference for furnaces that use alternative fuels like biofuels or electricity to reduce carbon footprints. These trends show a shift in the market towards efficiency, technology integration, and sustainability.

Authors: Kiran Pulidindi , Kunal Ahuja

Frequently Asked Questions (FAQ) :

The U.S. market for residential furnace was worth over USD 5.3 billion in 2023 and is estimated to grow at a 5% CAGR from 2024 to 2032, driven by increasing demand for energy-efficient heating solutions.

The gas furnace segment was surpassed USD 2.4 billion in 2023, due to their efficiency, cost-effectiveness, and reliability, making them a preferred choice among homeowners.

California's residential furnace market size exceeded USD 727.2 million in 2023, led by the state's stringent energy regulations and focus on reducing emissions, leading to a higher demand for high-efficiency, low-emission furnaces.

Key players in the industry include Amana, Boyer Furnace, Bryant, Carrier, Daikin, Lennox, Luxaire, Rheem, and York.