The latest research report titled ‘U.S. Residential Furnace Market Size, By Product (Gas Furnace, Electric Furnace, Oil Furnace, Wood Furnace, Hybrid Furnace), By Application (Single Family, Multi Family), Regional Outlook (California, Texas New York, Florida, Illinois, Ohio, New Jersey, North Carolina, Massachusetts, Virginia, Washington, Michigan, Indiana, Minnesota, Wisconsin, Missouri, Oregon, South Carolina, Kentucky, Iowa, Oklahoma, Utah, Kansas, Nevada, Arkansas), Price Trend, Competitive Market Share & Forecast, 2019 – 2025’, available MarketStudyReport, opines that the U.S residential furnace market is slated to touch a massive valuation of USD 200 billion by 2025.

Mounting population and temperature volatility due to changing climatic conditions are the major factors fuelling U.S residential furnace market growth.

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/1984506/

Notably, residential furnaces can function without a glitch in lower temperatures with optimum power utilization which will positively impact the growth trajectory of the market in the upcoming years.

In addition, favourable government initiatives that focus on lowering the level of nitrogen oxide emissions from the furnace may unearth new opportunities for market expansion during the analysis timeframe.  

However, harmful gas emissions from the wood utilized in residential furnaces may hinder industry growth rate during the forecast period. Also, poor performance of gas furnace is a major challenge which needs to be addressed by the industry players. In
addition, sales of electric furnaces have drastically reduced due to high cost of maintenance and lower heating efficiency, thereby affecting the overall profit margin of the industry.

Speaking of the application scope, the multifamily segment of U.S. residential furnace industry is expected to record a stable CAGR of 5% over the forecast timeframe, creditable to uniform temperature distribution, cost effectiveness, and unit centralization.

From a regional frame of reference, Minnesota gas residential furnace market is expected to surpass a valuation of USD 9.5 billion by 2025, attributable to several state government initiatives that promote the usage of gas furnaces as they are economical, cost effective, eco-friendly, and can function on low energy.

Meanwhile, Wisconsin industry is likely to amass a valuation of USD 5 billion by 2025, due to the increasing pervasiveness of winter storms that have given rise to several health threats such as hypothermia or frostbites which has augmented the usage of furnaces in the region.

The competitive terrain of the U.S. residential furnace marketplace is defined by key players such as Trane Technologies Inc., Amana Corporation, Goodman Manufacturing, Dettson Industries Inc., Rudd Company Inc., Fujitsu General Ltd., LUXAIRE Luxury Fan, Daikin Industries Ltd., Byrant Company Inc., Rheem Manufacturing Company, Lennox International Inc., York International Corporation, and Carrier Global Corporation.