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Published: Nov, 2018 | Pages:
87 | Publisher: Grand View Research
Industry: Equipment | Report Format: Electronic (PDF)
The North America heating equipment market size is expected to reach USD 10.81 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 5.6% over the forecast period. The increasing number of construction projects coupled with promising repair and replacement activities is the vital factor driving the market growth. Rising income along with low-interest rates in North American countries has resulted in companies having more cash on hand. This allows them to upgrade their expensive equipment in stores, production facilities, and offices. A lower rate of interest is expected to be a significant factor for the growth in demand for heating equipment in North America as companies can invest effortlessly in the otherwise costly equipment upgrade. Increasing energy consumption, as well as strict environmental regulations, have influenced the demand for certified energy-efficient products. Also, rising energy bills have led many commercial and industrial organizations to switch to effective as well as efficient heating equipment at their sites. Installing an energy efficient heating system qualifies the buyer for several tax credits. Tax rebates are also offered for using renewable systems such as geothermal heat pumps. In U.S., residential buyers can be eligible for residential property credit, allowing them a concession of 10% on the cost of installation, professional preparation, and labor. Such financial support and tax rebates are expected to fuel the demand for energy efficient heating equipment in North America over the forecast period. The market is highly competitive owing to the lack of product differentiation and several other factors such as technology, price, geographic presence, products performance, and customer service. However, development of innovative and new product segment is projected to bolster the market expansion over the forecast period. Further key findings from the report suggest: • Demand from residential application segment is estimated to reach approximately USD 2 billion by 2025 expanding at a CAGR of 5.3% from 2018 to 2025 • Industrial application segment led the North America heating equipment market with a market share of over 57.36% in 2017 • Heat pumps are anticipated to witness a significant CAGR of 5.7% over the next 8 years, owing to the sturdy market for new housing, cold climatic conditions and large replacement market • Some of the key companies present in the market are United Technologies; Whirlpool Corporation; Johnson Controls; Honeywell International Inc.; Nortek Holdings; and Daikin Industries Ltd.
Table of Contents
Chapter 1 Methodology and Scope
1.1 Research methodology
1.2 Research scope and assumptions
1.3 List of data sources
Chapter 2 Executive Summary
Chapter 3 Market Snapshot
3.1 North America Heating equipment - Industry snapshot and key buying criteria
Chapter 4 Market Variables, Trends & Scope
4.1 Market segmentation & scope
4.2 Penetration & growth prospect mapping
4.3 Value chain analysis
4.4 Raw material trend
4.5 Regulatory framework
4.6 Impact of combined heat and power (CHP) on boilers market
4.6.1 U.S. CHP potential
4.6.2 Policies in favor of CHP
4.6.2.1 Federal Policy
4.6.2.2 State Policy
4.7 Market dynamics
4.7.1 Market driver analysis
4.7.1.1 Favorable government policies
4.7.1.2 Growing repair and replacement activities
4.7.1.3 Increasing demand for energy efficient solutions
4.7.2 Market restraint analysis
4.7.2.1 High cost of installation
4.8 Industry analysis - Porter's
4.8.1 Threat of new entrants
4.8.2 Bargaining power of buyers
4.8.3 Bargaining power of suppliers
4.8.4 Industry rivalry
4.8.5 Threat of substitutes
4.9 PESTEL analysis
Chapter 5 North America Heating Equipment Market: Product Estimates & Trend Analysis
5.1 Product movement analysis & market share, 2018 & 2025
5.2 Market size and trend analysis by product, 2014 - 2025 (USD Million)
5.2.1 Heat pumps
5.2.1.1 Market estimates & forecast from heat pumps, 2014 - 2025 (USD Million)
5.2.2 Furnaces
5.2.2.1 Market estimates & forecast from furnaces, 2014 - 2025 (USD Million)
5.2.3 Boilers
5.2.3.1 Market estimates & forecast from boilers, 2014 - 2025 (USD Million)
5.2.4 Unitary heaters
5.2.4.1 Market estimates & forecast from unitary heaters, 2014 - 2025 (USD Million)
5.2.5 Others
5.2.5.1 Market estimates & forecast from other products, 2014 - 2025 (USD Million)
Chapter 6 North America Heating Equipment Market: Application Estimates & Trend Analysis
6.1 Application movement analysis & market share, 2017 & 2025
6.2 Market size and trend analysis by application, 2014 - 2025 (USD Million)
6.2.1 Residential
6.2.1.1 Market estimates & forecast from residential, 2014 - 2025 (USD Million)
6.2.2 Commercial
6.2.2.1 Market estimates & forecast from commercial, 2014 - 2025 (USD Million)
6.2.3 Industrial
6.2.3.1 Market estimates & forecast from industrial, 2014 - 2025 (USD Million)
Chapter 7 North America Heating Equipment: Regional Estimates & Trend Analysis
7.1 North America heating equipment market share, by region, 2014 to 2025
7.2 U.S.
7.2.1 U.S. heating equipment revenue estimates & forecast, by product 2014 - 2025 (USD Million)
7.3 Canada
7.3.1 Canada heating equipment revenue estimates & forecast, by product 2014 - 2025 (USD Million)
Chapter 8 Competitive Landscape
8.1 Vendor landscape
8.2 Competitive environment
8.3 Company market positioning
8.3.1 Four quadrant positioning
8.4 Strategy framework
Chapter 9 Company Profiles
9.1 United Technologies
9.1.1 Company Overview
9.1.2 Financial Performance
9.1.3 Industries and Services Catered
9.1.4 Product Benchmarking
9.1.5 Strategic Initiatives
9.2 Ingersoll-Rand plc
9.2.1 Company Overview
9.2.2 Financial Performance
9.2.3 Industries and Services Catered
9.2.4 Product Benchmarking
9.2.5 Strategic Initiatives
9.3 Lennox International, Inc.
9.3.1 Company Overview
9.3.2 Financial Performance
9.3.3 Industries and Services Catered
9.3.4 Product Benchmarking
9.4 Burnham Holdings, Inc.
9.4.1 Company Overview
9.4.2 Financial Performance
9.4.3 Industries & Services Catered
9.4.4 Product Benchmarking
9.4.5 Strategic Initiatives
9.5 Johnson Controls, Inc.
9.5.1 Company Overview
9.5.2 Financial Performance
9.5.3 Industries & Services Catered
9.5.4 Product Benchmarking
9.5.5 Strategic Initiatives
9.6 Robert Bosch GmbH
9.6.1 Company Overview
9.6.2 Financial Performance
9.6.3 Industries & Services Catered
9.6.4 Product Benchmarking
9.6.5 Strategic Initiatives
9.7 Honeywell International, Inc.
9.7.1 Company Overview
9.7.2 Financial Performance
9.7.3 Industries & Services Catered
9.7.4 Product Benchmarking
9.8 Goodman Manufacturing Company, L.P.
9.8.1 Company Overview
9.8.2 Financial Performance
9.8.3 Industries & Services Catered
9.8.4 Product Benchmarking
9.8.5 Strategic Initiatives
9.9 Emerson Electric Company
9.9.1 Company Overview
9.9.2 Financial Performance
9.9.3 Industries & Services Catered
9.9.4 Product Benchmarking
9.9.5 Strategic Initiatives
9.10 Rheem Manufacturing Company, Inc.
9.10.1 Company Overview
9.10.2 Industries & Services Catered
9.10.3 Product Benchmarking
9.10.4 Strategic Initiatives
9.11 American Heating Company, Inc.
9.11.1 Company Overview
9.11.2 Industries & Services Catered
9.11.3 Product Benchmarking
List of Tables TABLE 1 Heating equipment - Regulatory framework TABLE 2 Sites utilizing CHP TABLE 3 Affected boilers in Midwest TABLE 4 Heating equipment - Key market driver impact TABLE 5 North America heating equipment - Key market restraints impact TABLE 6 Furnace: Average installation and equipment cost TABLE 7 North America heating equipment market revenue estimates & forecast by product, 2014 - 2025 (USD Million) TABLE 8 North America heating equipment market estimates & forecast from heat pumps, 2014 - 2025 (USD Million) TABLE 9 North America heating equipment market estimates & forecast from furnaces, 2014 - 2025 (USD Million) TABLE 10 North America heating equipment market estimates & forecast from boilers, 2014 - 2025 (USD Million) TABLE 11 North America heating equipment market estimates & forecast from unitary heaters, 2014 - 2025 (USD Million) TABLE 12 North America heating equipment market estimates & forecast from other products, 2014 - 2025 (USD Million) TABLE 13 North America heating equipment market revenue estimates & forecast by application, 2014 - 2025 (USD Million) TABLE 14 North America heating equipment market estimates & forecast from residential, 2014 - 2025 (USD Million) TABLE 15 North America heating equipment market estimates & forecast from commercial, 2014 - 2025 (USD Million) TABLE 16 North America heating equipment market estimates & forecast from industrial, 2014 - 2025 (USD Million) TABLE 17 U.S. heating equipment revenue estimates & forecast, by product, 2014 - 2025 (USD Million) TABLE 18 U.S. heating equipment revenue estimates & forecast, by application, 2014 - 2025 (USD Million) TABLE 19 Canada heating equipment revenue estimates & forecast, by product, 2014 - 2025 (USD Million) TABLE 20 Canada heating equipment revenue estimates & forecast, by application, 2014 - 2025 (USD Million)
List of Figures FIG. 1 North America heating equipment market revenue share, 2017 (USD Million) FIG. 2 North America heating equipment industry snapshot FIG. 3 North America heating equipment market segmentation FIG. 4 North America heating equipment market, 2014 - 2025 (USD Million) FIG. 5 Heating equipment value chain analysis FIG. 6 Steel price forecast to 2019 (USD/Ton) FIG. 7 Aluminum price forecast to 2025 (USD/MT) FIG. 8 U.S. CHP technical potential across all facility types FIG. 9 U.S. heating equipment market dynamics FIG. 10 U.S. construction spending, 2010 to 2016 (USD Billion) FIG. 11 Residential energy consumption by end-use FIG. 12 Commercial Building Energy Consumption Survey FIG. 13 North America heating equipment - Porter's analysis FIG. 14 Global heating equipment- PESTEL analysis FIG. 15 North America heating equipment market revenue by product, 2015 & 2025 (USD Million) FIG. 16 North America heating equipment market revenue by application, 2017 & 2025 (USD Million) FIG. 17 North America heating equipment revenue share, by region, 2018 to 2025 (CAGR%) FIG. 18 Housing starts in Canada (2013 - 2017) FIG. 19 Four quadrant positioning FIG. 20 Strategy framework
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