Heating Equipment Market in the US - Demand and Sales Forecasts, Market Share, Market Size, Market Leaders

Heating Equipment Market in the US - Industry Market Research, Market Share, Market Size, Sales, Demand Forecast, Market Leaders, Company Profiles, Industry Trends

Demand for heating equipment is expected to grow 4.5% per year to $5.1 billion in 2021. The residential market will continue to outperform the commercial market. Warm air furnaces will remain the dominant type, though steel boilers will post the fastest value increase of any product type in percentage terms. The Midwest, accounting for nearly one-third of all heating equipment demand in a given year, though the West is forecast to see the sales gains in percentage terms.

This Freedonia industry study analyzes the US heating equipment market with historical demand data plus forecasts for2021 by product (boilers, room and zone heating equipment, warm air furnaces), energy source (natural gas, electricity, and heating oil and other), market (residential and commercial, new building and existing building), and US region (Midwest, South, Northeast, West). The study also evaluates company market share and analyzes key producers including AO Smith, Burnham Holdings, Daikin Industries, Ingersoll-Rand, Lennox, Melrose Industries, Mestek, Paloma, SPX, and United Technologies.

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Table of Contents

EXECUTIVE SUMMARY

OVERVIEW

Key Findings

Factors Influencing Heating Equipment Demand

Climate Zones

Energy Profile

Energy Efficiency

Impact of Tax Credits on Heating Equipment Demand

Pricing Trends

Market Volatility

Foreign Trade

Imports

Exports

PRODUCTS

Key Findings

Heating Equipment Historical Trends

Heating Equipment Forecasts

Heating Equipment Demand by Energy Source

Heating Equipment Demand by Product

Warm Air Furnace

Supply & Demand

Energy Source

Natural Gas

Electricity

Heating Oil & Other Energy Sources

Boilers

Supply & Demand

Demand by Type

Cast Iron

Steel

Room & Zone Heating Equipment

Supply & Demand

Demand Forecasts

MARKETS

Key Findings

Heating Equipment Demand by Market

Commercial

Demand by Building Type

Demand by Product Type

Residential

Existing Buildings

New Buildings

Demand by Building Type

Demand by Product Type

REGIONS

Key Findings

Climatic Factors Influencing Heating Equipment Demand

Heating Equipment Demand by Region

Northeast

Demand Forecasts

Demand by Product

Midwest

Demand Forecasts

Demand by Product

South

Demand Forecasts

Demand by Product

West

Demand Forecasts

Demand by Product

INDUSTRY STRUCTURE

Key Findings

Industry Composition

Market Share

Competitive Strategies

Product Development & Manufacturing

Marketing

Distribution

Cooperative Agreements

Mergers, Acquisitions, & Industry Restructuring

List of Industry Participants

APPENDIX

Scope

Methodology

Sources

Associations & Agencies

Related Freedonia Group Studies

Definitions

Abbreviations

Climate Zones

Macroeconomic Assumptions

Economic Environment

Demographic Trends

Consumer Trends

Building Construction

Residential

New Housing

Housing Stock

Improvements & Repairs

Nonresidential

List of Tables

OVERVIEW

Table 2-1 | Average Retail Energy Costs in the US by Source, 2006-2021 ($/mil Btu)

Table 2-2 | Heating Equipment Pricing Trends, 2006-2021 (dollars/unit)

Table 2-3 | Foreign Trade in Heating Equipment, 2006-2021 (million dollars)

Table 2-4 | Heating Equipment Imports by Source, 2006-2016 (million dollars)

Table 2-5 | Heating Equipment Exports by Destination, 2006-2016 (million dollars)

PRODUCTS

Table 3-1 | Heating Equipment Supply & Demand, 2006-2021 (million dollars)

Table 3-2 | Heating Equipment Demand by Energy Source, 2006-2021 (million dollars)

Table 3-3 | Heating Equipment Demand by Value & Volume, 2006-2021

Table 3-4 | Warm Air Furnace Supply & Demand, 2006-2021 (million dollars)

Table 3-5 | Warm Air Furnace Demand by Energy Source, 2006-2021 (million dollars)

Table 3-6 | Natural Gas Warm Air Furnace Demand by Value & Volume, 2006-2021

Table 3-7 | Electric Warm Air Furnace Demand by Value & Volume, 2006-2021

Table 3-8 | Heating Oil & Other Energy Source Warm Air Furnace Demand by Value & Volume, 2006-2021

Table 3-9 | Boiler Supply & Demand, 2006-2021 (million dollars)

Table 3-10 | Boiler Demand by Type, 2006-2021 (million dollars)

Table 3-11 | Cast Iron Boiler Demand by Value & Volume, 2006-2021

Table 3-12 | Steel Boiler Demand by Value & Volume, 2006-2021

Table 3-13 | Room & Zone Heating Equipment Supply & Demand, 2006-2021 (million dollars)

Table 3-14 | Room & Zone Heating Equipment Demand by Value & Volume, 2006-2021

MARKETS

Table 4-1 | Heating Equipment Demand by Market & Segment, 2006-2021 (million dollars)

Table 4-2 | Commercial Heating Equipment Demand by Segment, 2006-2021 (million dollars)

Table 4-3 | Commercial Heating Equipment Demand by Building Type, 2006-2021 (million dollars)

Table 4-4 | Commercial Heating Equipment Demand by Product, 2006-2021 (million dollars)

Table 4-5 | Residential Heating Equipment Demand by Segment, 2006-2021 (million dollars)

Table 4-6 | Residential Heating Equipment Demand by Building Type, 2006-2021 (million dollars)

Table 4-7 | Residential Heating Equipment Demand by Product, 2006-2021 (million dollars)

REGIONS

Table 5-1 | Heating Equipment Demand by Region, 2006-2021 (million dollars)

Table 5-2 | Northeast: Heating Equipment Demand by Market, 2006-2021 (million dollars)

Table 5-3 | Northeast: Heating Equipment Demand by Product, 2006-2021 (million dollars)

Table 5-4 | Midwest: Heating Equipment Demand by Market, 2006-2021 (million dollars)

Table 5-5 | Midwest: Heating Equipment Demand by Product, 2006-2021 (million dollars)

Table 5-6 | South: Heating Equipment Demand by Market, 2006-2021 (million dollars)

Table 5-7 | South: Heating Equipment Demand by Product, 2006-2021 (million dollars)

Table 5-8 | West: Heating Equipment Demand by Market, 2006-2021 (million dollars)

Table 5-9 | West: Heating Equipment Demand by Product, 2006-2021 (million dollars)

INDUSTRY STRUCTURE

Table 6-1 | Heating Equipment Sales by Company, 2016 (million dollars)

Table 6-2 | Selected High Efficiency Heating Equipment by Company

Table 6-3 | R&D Spending for Selected Heating Equipment Companies, 2016 (million dollars)

Table 6-4 | Selected Cooperative Agreements

Table 6-5 | Selected Acquisitions & Divestitures

APPENDIX

Table 7-1 | Study Scope: Heating Equipment Markets

Table 7-2 | Study Scope: US Regions

Table 7-3 | Relevant NAICS Codes (2012)

Table 7-4 | Abbreviations & Acronyms Used in Study

Table 7-5 | Macroeconomic Indicators, 2006 - 2021 (billion 2009 dollars)

Table 7-6 | Population & Households, 2006 - 2021 (million persons)

Table 7-7 | Personal Consumption Expenditures, 2006 - 2021 (billion dollars)

Table 7-8 | Building Construction Expenditures, 2006 - 2021 (billion dollars)

Table 7-9 | Residential Building Construction Expenditures, 2006 - 2021 (billion dollars)

Table 7-10 | New Housing Indicators, 2006 - 2021 (thousand units)

Table 7-11 | Housing Stock by Type, 2006 - 2021 (million units)

Table 7-12 | Residential Improvement & Repair Expenditures, 2006 - 2021 (billion dollars)

Table 7-13 | Nonresidential Building Construction Expenditures, 2006 - 2021 (billion dollars)

List of Charts

EXECUTIVE SUMMARY

Figure 1-1 | Key Trends in the US Market for Heating Equipment

OVERVIEW

Figure 2-1 | Key Trends in the Heating Equipment Market

Figure 2-2 | Heating Equipment Pricing Trends, 2006-2021 (annual percent change)

Figure 2-3 | Heating Equipment Demand, 2006-2016 (million dollars)

Figure 2-4 | US Foreign Trade in Heating Equipment, 2006-2016 (million dollars)

Figure 2-5 | Heating Equipment Imports by Source, 2006-2016 (million dollars)

Figure 2-6 | US Heating Equipment Exports by Destination, 2006-2016 (million dollars)

PRODUCTS

Figure 3-1 | Key Trends in Heating Equipment Products

Figure 3-2 | Heating Equipment Demand, 2006-2021 (million dollars)

Figure 3-3 | Heating Equipment Demand by Energy Source, 2016 (million dollars)

Figure 3-4 | Heating Equipment Demand by Value & Volume, 2016 (percent of total)

Figure 3-5 | Warm Air Furnace Demand, 2006-2016 (percent annual change)

Figure 3-6 | Warm Air Furnace Demand by Energy Source, 2016 (million dollars)

Figure 3-7 | Boiler Demand, 2006-2016 (percent annual change)

Figure 3-8 | Boiler Demand by Product Type, 2016 (million dollars)

Figure 3-9 | Selected Commercial & Residential Building Applications for Room & Zone Heating Equipment

MARKETS

Figure 4-1 | Key Trends in Heating Equipment Markets

Figure 4-2 | Heating Equipment Demand by Market, 2006-2021 (percent of value demand)

Figure 4-3 | Commercial Heating Equipment Demand, 2006-2016 (million dollars)

Figure 4-4 | Commercial Heating Equipment Demand by Building Type, 2016 (billion dollars)

Figure 4-5 | Commercial Heating Equipment Demand by Product, 2016 (billion dollars)

Figure 4-6 | Heating Equipment Demand in Existing Residential Buildings by Value, 2006-2016

Figure 4-7 | New Residential Building Heating Equipment Demand by Value, 2006-2016

Figure 4-8 | Residential Heating Equipment Demand by Building Type, 2016 (billion dollars)

Figure 4-9 | Residential Heating Equipment Demand by Product, 2016 (billion dollars)

REGIONS

Figure 5-1 | Key Trends in Heating Equipment Demand by Region

Figure 5-2 | US Heating Equipment Demand Relative to Construction Spending by Region, 2016

Figure 5-3 | Heating Equipment Demand by Region, 2016 (billion dollars)

Figure 5-4 | Northeast: Heating Equipment Demand by Product, 2016 (million dollars)

Figure 5-5 | Midwest: Heating Equipment Demand by Product, 2016 (billion dollars)

Figure 5-6 | South: Heating Equipment Demand by Product, 2016 (million dollars)

Figure 5-7 | West: Heating Equipment Demand by Product, 2016 (million dollars)

INDUSTRY STRUCTURE

Figure 6-1 | US Heating Equipment Market Share, 2016 (billion dollars)

Figure 6-2 | Heating Equipment: Overall Leading Supplier

Figure 6-3 | Heating Equipment: Second Leading Supplier

Figure 6-4 | Heating Equipment: Third Leading Supplier

Figure 6-5 | Heating Equipment: Fourth Leading Supplier

APPENDIX

Figure 7-1 | Continental US Climate Zones

Figure 7-2 | Annual Growth in Real GDP, 2000 - 2016, Compared to 1980 - 2005 Average (percent)

Figure 7-3 | Annual Population Growth, 2001 - 2016 (percent)

Figure 7-4 | Housing Stock by Year of Construction, 2016 (percent)

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