North American Heating Equipment Market Manufacturers, Upcoming Trends, Top Companies & Research Report, 2025

 The North American 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 North American heating equipment market size is anticipated to value USD 10.81 billion until 2025. It is also expected to register a CAGR of 5.6% over the forecasted years, 2018 to 2025. The rising number of infrastructure and construction projects coupled with the need for replacement and repair activities is expected to trigger the market growth.

Key Players:

• United Technologies
• 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 

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Growth Drivers:

Rising energy consumption coupled with stringent rules and regulations imposed by governing bodies is driving the demand for energy-efficient products. Moreover, increasing energy bills are also influencing many industrial and commercial organizations to adopt these energy-efficient devices on their working sites. These factors are triggering the demand for heating equipment across North America.

The heat pumps segment held the largest share across the market and is projected to register 5.7% CAGR from 2018 to 2025 due to its increasing usage in spaces having moderate cooling and heating requirements. On the other hand, the electric furnace is expected to hold a substantial share in the upcoming years owing to their benefits like higher efficiency and low maintenance cost.

In 2017, the industrial segment dominated the market owing to its rising usage of heating equipment across aviation, marine, oil & gas, food & beverage and mining industrial sectors. It is also anticipated to witness the highest CAGR from 2018 to 2025 on account of the rising number of renovation and repair activities prevailing across several industrial sectors.

Product Outlook: 

• Heat Pump
• Furnaces
• Boilers
• Unitary Heaters 

Application Outlook: 

• Residential
• Commercial
• Industrial 

Regional Insights: 

The U.S. accounted for the largest share across the North America heating equipment market in 2017. Several initiatives being undertaken by governing authorities for curbing air pollution are anticipated to act as a major contributor towards market growth. Also, tax rebates and credits being given for the usage of energy-efficient products are proposed to further fuel up demand for heating equipment.

Canada acquired second-largest share across the market in 2017. This can be associated with the rising number of players operating across provinces like Quebec and Ontario coupled with the surging population density are expanding commercial and residential downstream markets. Moreover, cold climatic conditions and increasing replacement and repair activities are estimated to trigger the market growth.

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