CLEVELAND — According to the “Heating Equipment Market in the U.S.” study from The Freedonia Group, forced-air heating is the preferred comfort delivery method in the U.S. Of those, warm-air furnaces comprise the vast majority of the overall demand with 64 percent of the total value of sales in 2016.
Warm-air furnace demand rose $2.6 billion during the 2011-2016 period as both the U.S. economy and construction industry recovered from the Great Recession. Most buildings in the U.S. are designed to utilize forced-air heating, which results in the widespread use of this equipment. Warm-air furnaces are less expensive to install and operate than boilers, further promoting their use.
“Natural gas is by far the leading energy source used, comprising 93 percent of demand in 2016,” said Kyle Peters, analyst, The Freedonia Group.
Natural gas is also expected to record the fastest increase in demand through 2021, followed by electricity and heating oil. Due to higher operating and/or energy prices, demand for electricity and heating oil furnaces is largely limited to buildings where natural gas is not available.
Publication date: 5/26/2017