PUBLISHED DATE : Feb 2023 | Pages : 209
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The U.S. Residential Heating System Market Size, Share, & Trends Analysis Report By
Industry Analysis Report, Regional Outlook, Market Trends, Competitive Landscape, Share, Growth Potential & Forecast, 2023 - 2028
209 Pages
64 Tables
65 Charts
4 Regions
1 Countries
39 Companies
4 Market Segment
| Report Attribute | Details |
|---|---|
| Market Size (2028) | USD 13.97 Billion |
| Market Size (2022) | USD 10.8 Billion |
| CAGR BY VALUE (2022-2028) | 4.39% |
| MARKET SIZE- VOLUME (2022) | 11,903.69 thousand Units |
| BASE YEAR | 2022 |
| Forecast Year | 2023-2028 |
| Market Segments | Equipment, End-User, Distribution Channel, and Region |
| REGION ANALYSIS | U.S. (South, West, Midwest, and Northeast) |
| KEY VENDORS | Samsung, Systemair, Johnson Controls, Zehnder, Aldes, Bosch, Daikin, Mitsubishi Electric, and Rheem Manufacturing |
The U.S. residential heating system market size was valued at USD 10.8 billion in 2022 and is expected to reach USD 13.97 billion by 2028, growing at a CAGR of 4.39%. The residential heating market is undergoing tremendous modifications due to the increasing integration of the internet of things (IoT) technology with heating products, making them innovative and accessible. The emphasis on connecting several sensors within building ecosystems, including heating pumps, and geothermal heating systems, has grown for achieving energy efficiency. Alternatively, the increasing raw material price, supply chain disruption, and oil prices surge due to the Russian-Ukraine conflict expect the end-user to shift toward an energy-efficient heating system in the U.S. residential heating system market.
The U.S. residential heating system market shipments are expected to reach 11,903.69 thousand units by 2028. Owing to the weather conditions and widely varying climatic scenarios in the US, the market for heating is significant. Residential customers choose various heating scenarios when considering both main and secondary heating equipment and fuels. The growth in heating equipment installation in residential buildings across the country is expected to drive the industry during the forecast period. Of which, residential consumption of heat pumps holds a major share in the sales volume of heating equipment, owing to the rapidly increasing construction of dwelling units.
Heating systems are a high priority for buildings to ensure thermal comfort. The following are the major requirement involved in heating systems:
Emergence Of Smart Heating Systems with IoT Technology
Many organization officials expect smart heating systems to take the most significant edge out of their electricity expenses. Smart IoT heating options provide a method to optimize energy consumption without any interruption in consumer service. IoT has the advantage of impacting heating systems through its smart technologies, which allow manufacturers to increase productivity and optimize assets. Innovations in heating technology are currently in the growing stage. IoT in heating comes under the parallels of infrastructure IoT and consumer, which helps for greater flexibility and smart controls for consumers. Hence, modern technology expects to propel the demand for smart heating systems in the U.S. residential heating system market during the forecast period.
Rising Demand for Geothermal Heating Systems
Geothermal heating systems that tap into the consistency of ground temperatures six feet below the surface are an extension of a domestic unearthing trend occurring across the United States. The energy-intensive heating industry is undergoing a transition as the supply of fossil fuels depletes rapidly. These traditional energy sources are increasingly falling out of favor due to climate change, pollution, energy security reasons, and high costs. Heating accounts for a lot of electricity consumption. The geothermal heating system offers economical water heating facilities. Usually, energy costs for heating water are high. The high water heating cost can be decreased by up to 65 % with geothermal heat pump systems. Therefore, the demand for geothermal heating systems is expected to grow in the U.S. residential heating system market in the upcoming years.
INSIGHTS BY EQUIPMENT TYPE
The heat pump equipment market in the U.S. was valued at USD 4.87 billion in 2022. Heating pumps have been one of the most critical heating systems. They are mainly used in cold regions as their primary function is heating. However, heat pumps are also used for cooling by reversing the direction of heat flow. The demand for heat pumps mostly ensues from efficiency since their output is four times the amount of energy they consume. Heat pumps are a steady revenue generator for the industry and have witnessed high growth and constant innovation.
INSIGHTS BY APPLICATION TYPE
The single-family housing segment was valued at USD 7.92 billion in 2022. The single-family houses enjoy a larger industry share. Furthermore, the operational energy cost is higher for single-family houses than for multi-family houses. Various heating systems for single-family houses can be classified based on different parameters, such as heat-carrying medium, energy sources, and the heat-transmitting process. Over the past two-three years, disposable incomes and savings of consumers have increased, driving improvements in residential projects, particularly in the Midwest. The increasing number of skyscrapers and high-story residential construction projects in rapidly growing states like Florida, California, and New York also boosted industry growth.
INSIGHTS BY DISTRIBUTION CHANNEL
The offline distribution channel dominated the U.S. residential heating system market, accounting for a revenue share of 62.42%, and is expected to witness an incremental growth of USD 1.76 billion during the forecast period. Factors such as the broader reach in areas that lack better connectivity and high consumer trust associated with personally experiencing the quality of products are driving the growth of this segment.
Although the online channel holds a relatively lower U.S. residential heating system market share, it is expected to grow at a higher CAGR of 5.11% (by value) during the forecast period. The proliferation of e-commerce and raising awareness of the benefits of online purchases, such as heavy discounts, occasional offers, and rising demand for convenience, is driving the growth of the online segment.
In 2022, the Southern region accounted for a revenue share of 34.27% and was the leader in the U.S. residential heating system market. The high share is attributed to the concentration of a large population base compared to other regions in the country. The presence of many household units across the region leads to high demand for space heating technology from the residential sector, thereby supporting market growth.
The residential heating system market in the western U.S. was valued at USD 2.8 billion in 2022. The western region of the U.S. includes major states such as Colorado, Wyoming, Montana, Idaho, Washington, Oregon, Utah, Nevada, California, Alaska, and Hawaii. Moreover, according to the US Bureau of Economic Analysis, from Q2–Q3 2021, Colorado and Utah witnessed the highest increase in personal income of around 5.9% and 5.7%, respectively, in the western region. Hence, such income growth is expected to shift consumer interest from conventional to space heating technology, thereby boosting the demand for heat pumps and boilers in the U.S. residential heating system market during the forecast period.
Many large and small players characterize the U.S. residential heating market. Systemair, Johnson Controls, Zehnder, Ostberg, and Aldes are some of the key players in the US residential heating system industry. Other players operating in the industry include L.G., Panasonic, Carrier, Regal, and others. The prominent vendors focus on developing advanced heating systems and investing in R&D initiatives to enlarge their product line and gain a competitive advantage in the U.S. residential heating system market.
Moreover, the short time-to-market and little acceptance of new technologies add to market challenges for market vendors. R&D investments are more focused on cost reduction of the production process and improvement of the existing product technology for value addition than developing new products. As a result, a lot of mergers & acquisitions are taking place to develop and enhance the offerings and attributes to survive in the U.S. residential heating system market.
Frequently Asked Questions
How big is the U.S. residential heating system market?
The U.S. residential heating system market size is expected to reach USD 13.97 billion by 2028 from USD 10.8 billion in 2022.
What is the growth rate of the U.S. residential heating system market?
The U.S. residential heating system market is expected to grow at a CAGR of 4.39% from 2022-2028.
What will be the U.S. residential heating system market share in terms of volume in 2027?
The U.S. residential heating system market share by volume will reach 11,903.69 thousand units by 2028.
Which region holds the most extensive U.S. residential heating system market share?
In 2022, the Southern region accounted for a revenue share of 34.27% and was the U.S. residential heating system market leader.
Who are the key players in the U.S. residential heating system market?
The key players in the U.S. residential heating system market include Samsung, Systemair, Johnson Controls, Zehnder, Aldes, Bosch, Daikin, Mitsubishi Electric, and Rheem Manufacturing.
The U.S. residential heating system market was valued at USD 10.8 billion in 2022 and is expected to reach USD 13.97 billion by 2028.
The following factors are likely to contribute to the growth of the U.S. residential heating system market during the forecast period:
Base Year: 2022
Forecast Year: 2023-2028
The report considers the present scenario of the U.S. residential heating system market and its market dynamics for 2023-2028. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the industry. It also profiles and analyzes leading companies and several other prominent companies operating in the market.
Key Company Profiles
Other Prominent Vendors
Segmentation by Heating Equipment
Segmentation by End-User
Segmentation by Distribution Channel
Segmentation by Region
1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.4 MARKET SEGMENTATION
4.4.1 MARKET SEGMENTATION BY EQUIPMENT
4.4.2 MARKET SEGMENTATION BY END USER
4.4.3 MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 PREMIUM INSIGHTS
7 MARKET AT A GLANCE
8 INTRODUCTION
8.1 OVERVIEW
8.1.1 DIFFERENCE BETWEEN DUCTED AND DUCTLESS HEATING SYSTEMS
8.1.2 ADVANTAGES OF SMART THERMOSTAT HEATING SYSTEMS
8.1.3 DISADVANTAGES OF SMART THERMOSTAT HEATING SYSTEMS
8.1.4 RESIDENTIAL CHALLENGES
8.1.5 MERGER & ACQUISITIONS AND PRODUCT DEVELOPMENT
8.1.6 RESIDENTIAL CONSTRUCTIONS
8.2 US INFLATION REDUCTION ACT PROVIDES BENEFITS TO HEATING EQUIPMENT MARKET
8.3 VALUE CHAIN
8.3.1 RAW MATERIAL SUPPLIERS & COMPONENTS
8.3.2 MANUFACTURERS
8.3.3 DEALERS/DISTRIBUTORS
8.3.4 RETAILERS
8.3.5 END-USERS
8.4 IMPACT OF COVID-19
9 MARKET OPPORTUNITY & TRENDS
9.1 MAJOR SHIFT TOWARD DUCTLESS SYSTEMS
9.2 EMERGENCE OF SMART HEATING SYSTEMS WITH IOT TECHNOLOGY
9.3 INCORPORATION OF HEAT AND ENERGY-EFFICIENCY ZONING TECHNOLOGY
10 MARKET GROWTH ENABLERS
10.1 INTEGRATION OF HYDROGEN HEATING TECHNOLOGY
10.2 RISING DEMAND FOR GEOTHERMAL HEATING SYSTEMS
10.3 GROWING DEMAND FOR VRF SYSTEMS
11 MARKET RESTRAINTS
11.1 LACK OF SKILLED LABOR
11.2 VULNERABILITY TO COVID-19
11.3 INTRACTABLE DATA SECURITY ISSUES
12 MARKET LANDSCAPE
12.1 MARKET OVERVIEW
12.2 MARKET SIZE & FORECAST
12.2.1 VALUE
12.2.2 VOLUME
12.3 MARKET BY REGION
12.3.1 VALUE
12.3.2 VOLUME
12.4 FIVE FORCES ANALYSIS
12.4.1 THREAT OF NEW ENTRANTS
12.4.2 BARGAINING POWER OF SUPPLIERS
12.4.3 BARGAINING POWER OF BUYERS
12.4.4 THREAT OF SUBSTITUTES
12.4.5 COMPETITIVE RIVALRY
13 EQUIPMENT
13.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
13.2 MARKET SNAPSHOT & GROWTH ENGINE (VOLUME)
13.2.1 MARKET OVERVIEW
13.2.2 HEAT PUMP: MARKET SIZE & FORECAST
13.2.3 BOILER UNIT: MARKET SIZE & FORECAST
13.2.4 FURNACE: MARKET SIZE & FORECAST
13.2.5 VRF: MARKET SIZE & FORECAST
13.2.6 OTHER HEATING EQUIPMENT: MARKET SIZE & FORECAST
14 END-USER
14.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
14.2 MARKET SNAPSHOT & GROWTH ENGINE (VOLUME)
14.3 MARKET OVERVIEW
14.4 SINGLE-FAMILY HOUSING
14.4.1 MARKET OVERVIEW
14.4.2 MARKET SIZE & FORECAST
14.5 MULTI-FAMILY HOUSING
14.5.1 MARKET OVERVIEW
14.5.2 MARKET SIZE & FORECAST
15 DISTRIBUTION CHANNEL
15.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
15.2 MARKET SNAPSHOT & GROWTH ENGINE (VOLUME)
15.3 MARKET OVERVIEW
15.4 OFFLINE
15.4.1 MARKET OVERVIEW
15.4.2 DEALERS & DISTRIBUTORS
15.4.3 SPECIALTY STORES
15.4.4 MASS MARKET PLAYERS
15.4.5 MARKET SIZE & FORECAST (VALUE)
15.4.6 MARKET SIZE & FORECAST (VOLUME)
15.5 ONLINE
15.5.1 MARKET OVERVIEW
15.5.2 DIRECT SALES
15.5.3 THIRD-PARTY SALES
15.5.4 MARKET SIZE & FORECAST (VALUE)
15.5.5 MARKET SIZE & FORECAST (VOLUME)
16 GEOGRAPHY
16.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
16.2 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
16.3 MARKET OVERVIEW
16.3.1 US: MARKET SIZE & FORECAST
17 SOUTH
17.1 MARKET OVERVIEW
17.1.1 FLORIDA & TEXAS: MARKET SIZE & FORECAST
17.2 MARKET SIZE & FORECAST
17.2.1 VALUE
17.2.2 VOLUME
18 WEST
18.1 MARKET OVERVIEW
18.1.1 CALIFORNIA & WASHINGTON: MARKET SIZE & FORECAST
18.2 MARKET SIZE & FORECAST
18.2.1 VALUE
18.2.2 VOLUME
19 MIDWEST
19.1 MARKET OVERVIEW
19.1.1 ILLINOIS & MINNESOTA
19.2 MARKET SIZE & FORECAST
19.2.1 VALUE
19.2.2 VOLUME
20 NORTHEAST
20.1 MARKET OVERVIEW
20.1.1 NEW JERSEY & NEW YORK: MARKET SIZE & FORECAST
20.2 MARKET SIZE & FORECAST
20.2.1 VALUE
20.2.2 VOLUME
21 COMPETITIVE LANDSCAPE
21.1 COMPETITION OVERVIEW
22 KEY COMPANY PROFILES
22.1 SAMSUNG
22.1.1 BUSINESS OVERVIEW
22.1.2 PRODUCT OFFERINGS
22.1.3 KEY STRATEGIES
22.1.4 KEY STRENGTHS
22.1.5 KEY OPPORTUNITIES
22.2 SYSTEMAIR
22.2.1 BUSINESS OVERVIEW
22.2.2 PRODUCT OFFERINGS
22.2.3 KEY STRATEGIES
22.2.4 KEY STRENGTHS
22.2.5 KEY OPPORTUNITIES
22.3 JOHNSON CONTROLS
22.3.1 BUSINESS OVERVIEW
22.3.2 PRODUCT OFFERINGS
22.3.3 KEY STRATEGIES
22.3.4 KEY STRENGTHS
22.3.5 KEY OPPORTUNITIES
22.4 ZEHNDER
22.4.1 BUSINESS OVERVIEW
22.4.2 PRODUCT OFFERINGS
22.4.3 KEY STRATEGIES
22.4.4 KEY STRENGTHS
22.4.5 KEY OPPORTUNITIES
22.5 ALDES
22.5.1 BUSINESS OVERVIEW
22.5.2 PRODUCT OFFERINGS
22.5.3 KEY STRATEGIES
22.5.4 KEY STRENGTHS
22.5.5 KEY OPPORTUNITIES
22.6 ROBERT BOSCH
22.6.1 BUSINESS OVERVIEW
22.6.2 PRODUCT OFFERINGS
22.6.3 KEY STRATEGIES
22.6.4 KEY STRENGTHS
22.6.5 KEY OPPORTUNITIES
22.7 DAIKIN
22.7.1 BUSINESS OVERVIEW
22.7.2 PRODUCT OFFERINGS
22.7.3 KEY STRATEGIES
22.7.4 KEY STRENGTHS
22.7.5 KEY OPPORTUNITIES
22.8 MITSUBISHI ELECTRIC
22.8.1 BUSINESS OVERVIEW
22.8.2 PRODUCT OFFERINGS
22.8.3 KEY STRATEGIES
22.8.4 KEY STRENGTHS
22.8.5 KEY OPPORTUNITIES
22.9 RHEEM MANUFACTURING
22.9.1 BUSINESS OVERVIEW
22.9.2 PRODUCT OFFERINGS
22.9.3 KEY STRATEGIES
22.9.4 KEY STRENGTHS
23 OTHER PROMINENT VENDORS
23.1 LG
23.1.1 BUSINESS OVERVIEW
23.1.2 PRODUCT OFFERINGS
23.2 PANASONIC
23.2.1 BUSINESS OVERVIEW
23.2.2 PRODUCT OFFERINGS
23.3 CARRIER
23.3.1 BUSINESS OVERVIEW
23.3.2 PRODUCT OFFERINGS
23.4 MIDEA
23.4.1 BUSINESS OVERVIEW
23.4.2 PRODUCT OFFERINGS
23.5 REGAL REXNORD
23.5.1 BUSINESS OVERVIEW
23.5.2 PRODUCT OFFERINGS
23.6 FLAKT GROUP
23.6.1 BUSINESS OVERVIEW
23.6.2 PRODUCT OFFERINGS
23.7 BEIJER REF
23.7.1 BUSINESS OVERVIEW
23.7.2 PRODUCT OFFERINGS
23.8 FLEXIT
23.8.1 BUSINESS OVERVIEW
23.8.2 PRODUCT OFFERINGS
23.9 GRUNDFOS
23.9.1 BUSINESS OVERVIEW
23.9.2 PRODUCT OFFERINGS
23.10 SWEGON
23.10.1 BUSINESS OVERVIEW
23.10.2 PRODUCT OFFERINGS
23.11 VTS
23.11.1 BUSINESS OVERVIEW
23.11.2 PRODUCT OFFERINGS
23.12 NUAIRE
23.12.1 BUSINESS OVERVIEW
23.12.2 PRODUCT OFFERINGS
23.13 NORTEK
23.13.1 BUSINESS OVERVIEW
23.13.2 PRODUCT OFFERINGS
23.14 ALFA LAVAL
23.14.1 BUSINESS OVERVIEW
23.14.2 PRODUCT OFFERINGS
23.15 HITACHI
23.15.1 BUSINESS OVERVIEW
23.15.2 PRODUCT OFFERINGS
23.16 LU-VE GROUPS
23.16.1 BUSINESS OVERVIEW
23.16.2 PRODUCT OFFERINGS
23.17 VENT-AXIA
23.17.1 BUSINESS OVERVIEW
23.17.2 PRODUCT OFFERINGS
23.18 S & P
23.18.1 BUSINESS OVERVIEW
23.18.2 PRODUCT OFFERINGS
23.19 WOLF
23.19.1 BUSINESS OVERVIEW
23.19.2 PRODUCT OFFERINGS
23.20 CIAT
23.20.1 BUSINESS OVERVIEW
23.20.2 PRODUCT OFFERINGS
23.21 AL-KO
23.21.1 BUSINESS OVERVIEW
23.21.2 PRODUCT OFFERINGS
23.22 DYNAIR
23.22.1 BUSINESS OVERVIEW
23.22.2 PRODUCT OFFERINGS
23.23 DANFOSS
23.23.1 BUSINESS OVERVIEW
23.23.2 PRODUCT OFFERINGS
23.24 LENNOX
23.24.1 BUSINESS OVERVIEW
23.24.2 PRODUCT OFFERINGS
23.25 BACKER SPRINGFIELD
23.25.1 BUSINESS OVERVIEW
23.25.2 PRODUCT OFFERINGS
23.26 DUNHAM BUSH
23.26.1 BUSINESS OVERVIEW
23.26.2 PRODUCT OFFERINGS
23.27 TCL ELECTRONICS
23.27.1 BUSINESS OVERVIEW
23.27.2 PRODUCT OFFERINGS
23.28 TROX GROUP
23.28.1 BUSINESS OVERVIEW
23.28.2 PRODUCT OFFERINGS
23.29 INGERSOLL RAND
23.29.1 BUSINESS OVERVIEW
23.29.2 PRODUCT OFFERINGS
23.30 CAMFIL
23.30.1 BUSINESS OVERVIEW
23.30.2 PRODUCT OFFERINGS
24 REPORT SUMMARY
24.1 KEY TAKEAWAYS
24.2 STRATEGIC RECOMMENDATIONS
25 QUANTITATIVE SUMMARY
25.1 MARKET BY GEOGRAPHY
25.1.1 MARKET SIZE & FORECAST
25.2 MARKET BY EQUIPMENT
25.2.1 MARKET SIZE & FORECAST
25.3 MARKET BY END-USER
25.3.1 MARKET SIZE & FORECAST
25.4 MARKET BY DISTRIBUTION CHANNEL
25.4.1 MARKET SIZE & FORECAST
26 APPENDIX
26.1 ABBREVIATIONS
EXHIBIT 1 SEGMENTATION OF US RESIDENTIAL HEATING SYSTEMS MARKET
EXHIBIT 2 MARKET SIZE CALCULATION APPROACH 2022
EXHIBIT 3 HEEHRA REBATE AMOUNTS FOR APPLIANCES
EXHIBIT 4 VALUE CHAIN ANALYSIS OF US RESIDENTIAL HEATING SYSTEMS MARKET
EXHIBIT 5 IMPACT OF MAJOR SHIFT TOWARD DUCTLESS SYSTEMS
EXHIBIT 6 IMPACT OF EMERGENCE OF SMART HEATING SYSTEMS WITH IOT TECHNOLOGY
EXHIBIT 7 MODERN TECHNOLOGY OF IOT FOR SMART HEATING SYSTEMS
EXHIBIT 8 IMPACT OF INCORPORATION OF HEAT AND ENERGY-EFFICIENCY ZONING TECHNOLOGY
EXHIBIT 9 IMPACT OF INTEGRATION OF HYDROGEN HEATING TECHNOLOGY
EXHIBIT 10 ADVANTAGES OF HYDROGEN HEATING SYSTEMS
EXHIBIT 11 IMPACT OF RISING DEMAND FOR GEOTHERMAL HEATING SYSTEMS
EXHIBIT 12 ADVANTAGES OF GEOTHERMAL HEATING SYSTEMS
EXHIBIT 13 IMPACT OF GROWING DEMAND FOR VRF SYSTEMS
EXHIBIT 14 KEY ADVANTAGES OF VARIABLE REFRIGERANT FLOW (VRF) SYSTEM
EXHIBIT 15 IMPACT OF LACK OF SKILLED LABOR
EXHIBIT 16 MEASURES TAKEN BY VARIOUS AGENCIES AND ORGANIZATIONS
EXHIBIT 17 IMPACT OF VULNERABILITY TO COVID-19
EXHIBIT 18 IMPACT OF INTRACTABLE DATA SECURITY ISSUES
EXHIBIT 19 US ENERGY CONSUMPTION BY ENERGY SOURCE IN 2019
EXHIBIT 20 US RESIDENTIAL HEATING SYSTEMS MARKET 2022–2028 ($ MILLION)
EXHIBIT 21 US RESIDENTIAL HEATING SYSTEMS MARKET 2022–2028 (THOUSAND UNITS)
EXHIBIT 22 FIVE FORCES ANALYSIS 2022
EXHIBIT 23 INCREMENTAL GROWTH BY EQUIPMENT 2022 & 2028(VALUE)
EXHIBIT 24 INCREMENTAL GROWTH BY EQUIPMENT 2022 & 2028(VOLUME)
EXHIBIT 25 KEY FACTORS FAVORING DEMAND FOR HEAT PUMPS
EXHIBIT 26 US RESIDENTIAL HEAT PUMP MARKET 2022–2028 ($ MILLION)
EXHIBIT 27 US RESIDENTIAL HEAT PUMP MARKET 2022–2028 (THOUSAND UNITS)
EXHIBIT 28 US RESIDENTIAL BOILER UNIT MARKET 2022–2028 ($ MILLION)
EXHIBIT 29 US RESIDENTIAL BOILER UNIT MARKET 2022–2028 (THOUSAND UNITS)
EXHIBIT 30 COOLING DEGREE DAYS
EXHIBIT 31 US RESIDENTIAL FURNACE MARKET 2022–2028 ($ MILLION)
EXHIBIT 32 US RESIDENTIAL FURNACE MARKET 2022–2028 (THOUSAND UNITS)
EXHIBIT 33 US RESIDENTIAL VRF MARKET 2022–2028 ($ MILLION)
EXHIBIT 34 US RESIDENTIAL VRF MARKET 2022–2028 (THOUSAND UNITS)
EXHIBIT 35 US RESIDENTIAL OTHER HEATING EQUIPMENT MARKET 2022–2028 ($ MILLION)
EXHIBIT 36 US RESIDENTIAL OTHER HEATING EQUIPMENT MARKET 2022–2028 (THOUSAND UNITS)
EXHIBIT 37 INCREMENTAL GROWTH BY END-USER 2022 & 2028 (VALUE)
EXHIBIT 38 INCREMENTAL GROWTH BY END-USER 2022 & 2028 (VOLUME)
EXHIBIT 39 GROWTH IN SINGLE AND MULTI-FAMILY HOUSING UNITS IN US 2015−2019 (THOUSAND UNITS)
EXHIBIT 40 NUMBER OF SINGLE-FAMILY HOUSES SOLD IN US 2018–2023 (MILLION UNITS)
EXHIBIT 41 US RESIDENTIAL HEATING SYSTEMS MARKET BY SINGLE-FAMILY HOUSING 2022–2028 ($ MILLION)
EXHIBIT 42 US RESIDENTIAL HEATING SYSTEMS MARKET BY SINGLE-FAMILY HOUSING 2022–2028 (THOUSAND UNITS)
EXHIBIT 43 NUMBER OF MULTI-FAMILY HOUSING IN US 2018–2023 (MILLION UNITS)
EXHIBIT 44 US RESIDENTIAL HEATING SYSTEMS MARKET BY MULTI-FAMILY HOUSING 2022–2028 ($ MILLION)
EXHIBIT 45 US RESIDENTIAL HEATING SYSTEMS MARKET BY MULTI-FAMILY HOUSING 2022–2028 (THOUSAND UNITS)
EXHIBIT 46 INCREMENTAL GROWTH BY DISTRIBUTION CHANNEL 2022 & 2028
EXHIBIT 47 INCREMENTAL GROWTH BY DISTRIBUTION CHANNEL 2022 & 2028
EXHIBIT 48 CLASSIFICATION OF US RESIDENTIAL HEATING SYSTEMS MARKET BY DISTRIBUTION CHANNEL
EXHIBIT 49 US RESIDENTIAL HEATING SYSTEMS MARKET BY OFFLINE 2022–2028 ($ MILLION)
EXHIBIT 50 US RESIDENTIAL HEATING SYSTEMS MARKET BY OFFLINE 2022–2028 (THOUSAND UNITS)
EXHIBIT 51 CLASSIFICATION OF ONLINE DISTRIBUTION CHANNELS
EXHIBIT 52 US RESIDENTIAL HEATING SYSTEMS MARKET BY ONLINE 2022–2028 ($ MILLION)
EXHIBIT 53 US RESIDENTIAL HEATING SYSTEMS MARKET BY ONLINE 2022–2028 (THOUSAND UNITS)
EXHIBIT 54 INCREMENTAL GROWTH BY REGION 2022 & 2028 (VALUE)
EXHIBIT 55 INCREMENTAL GROWTH BY REGION 2022 & 2028 (VOLUME)
EXHIBIT 56 AVERAGE AND MEDIAN FAMILY INCOME IN SOUTHERN US 2022 ($)
EXHIBIT 57 HIGHEST NUMBER OF HOUSING UNITS WITH HEAT PUMPS IN US STATES 2020
EXHIBIT 58 RESIDENTIAL HEATING SYSTEMS MARKET IN SOUTHERN US 2022–2028 ($ MILLION)
EXHIBIT 59 RESIDENTIAL HEATING SYSTEMS MARKET IN SOUTHERN US 2022–2028 (THOUSAND UNITS)
EXHIBIT 60 RESIDENTIAL HEATING SYSTEMS MARKET IN WESTERN US 2022–2028 ($ MILLION)
EXHIBIT 61 RESIDENTIAL HEATING SYSTEMS MARKET IN WESTERN US 2022–2028 (THOUSAND UNITS)
EXHIBIT 62 RESIDENTIAL HEATING SYSTEMS MARKET IN MIDWEST US 2022–2028 ($ MILLION)
EXHIBIT 63 RESIDENTIAL HEATING SYSTEMS MARKET IN MIDWEST US 2022–2028 (THOUSAND UNITS)
EXHIBIT 64 RESIDENTIAL HEATING SYSTEMS MARKET IN NORTHEAST US 2022–2028 ($ MILLION)
EXHIBIT 65 RESIDENTIAL HEATING SYSTEMS MARKET IN NORTHEAST US 2022–2028 (THOUSAND UNITS)
LIST OF TABLES
TABLE 1 KEY CAVEATS
TABLE 2 CURRENCY CONVERSION 2015−2022
TABLE 3 ADVANTAGES AND DISADVANTAGES OF DUCTED AND DUCTLESS SYSTEM
TABLE 4 US RESIDENTIAL HEATING SYSTEMS MARKET BY GEOGRAPHY 2022−2028 ($ MILLION)
TABLE 5 US RESIDENTIAL HEATING SYSTEMS MARKET BY GEOGRAPHY 2022−2028 (THOUSAND UNITS)
TABLE 6 US RESIDENTIAL HEATING SYSTEMS MARKET BY EQUIPMENT 2022–2028 ($ MILLION)
TABLE 7 US RESIDENTIAL HEATING SYSTEMS MARKET BY EQUIPMENT 2022–2028 (THOUSAND UNITS)
TABLE 8 BOILER INSTALLATION AND REPLACEMENT COST IN 2022
TABLE 9 US RESIDENTIAL HEATING SYSTEMS MARKET BY END-USER 2022–2028 ($ MILLION)
TABLE 10 US RESIDENTIAL HEATING SYSTEMS MARKET BY END-USER 2022–2028 (THOUSAND UNITS)
TABLE 11 US RESIDENTIAL HEATING SYSTEMS MARKET BY DISTRIBUTION CHANNEL 2022–2028 ($ MILLION)
TABLE 12 US RESIDENTIAL HEATING SYSTEMS MARKET BY DISTRIBUTION CHANNEL 2022–2028 (THOUSAND UNITS)
TABLE 13 SPACE HEATING INSTALLATION COST IN US IN 2022
TABLE 14 US REGIONS COOLING DEGREE DAYS, 2021
TABLE 15 NEW PRIVATELY‐OWNED HOUSING UNITS UNDER CONSTRUCTION IN WESTERN US IN 2022
TABLE 16 NEW PRIVATELY‐OWNED HOUSING UNITS UNDER CONSTRUCTION IN MIDWEST US IN 2022
TABLE 17 NEW JERSEY HOUSING DEMAND IN 2022
TABLE 18 SAMSUNG: MAJOR PRODUCT OFFERINGS
TABLE 19 SYSTEMAIR: MAJOR PRODUCT OFFERINGS
TABLE 20 JOHNSON CONTROLS: MAJOR PRODUCT OFFERINGS
TABLE 21 ZEHNDER: MAJOR PRODUCT OFFERINGS
TABLE 22 ALDES: MAJOR PRODUCT OFFERINGS
TABLE 23 ROBERT BOSCH: MAJOR PRODUCT OFFERINGS
TABLE 24 DAIKIN: MAJOR PRODUCT OFFERINGS
TABLE 25 MITSUBISHI ELECTRIC: MAJOR PRODUCT OFFERINGS
TABLE 26 RHEEM MANUFACTURING: MAJOR PRODUCT OFFERINGS
TABLE 27 LG: MAJOR PRODUCT OFFERINGS
TABLE 28 PANASONIC: MAJOR PRODUCT OFFERINGS
TABLE 29 CARRIER: MAJOR PRODUCT OFFERINGS
TABLE 30 MIDEA: MAJOR PRODUCT OFFERINGS
TABLE 31 REGAL REXNORD: MAJOR PRODUCT OFFERINGS
TABLE 32 FLAKT GROUP: MAJOR PRODUCT OFFERINGS
TABLE 33 BEIJER REF: MAJOR PRODUCT OFFERINGS
TABLE 34 FLEXIT: MAJOR PRODUCT OFFERINGS
TABLE 35 GRUNDFOS: MAJOR PRODUCT OFFERINGS
TABLE 36 SWEGON: MAJOR PRODUCT OFFERINGS
TABLE 37 VTS: MAJOR PRODUCT OFFERINGS
TABLE 38 NUAIRE: MAJOR PRODUCT OFFERINGS
TABLE 39 NORTEK: MAJOR PRODUCT OFFERINGS
TABLE 40 ALFA LAVAL: MAJOR PRODUCT OFFERINGS
TABLE 41 HITACHI: MAJOR PRODUCT OFFERINGS
TABLE 42 LU-VE GROUPS: MAJOR PRODUCT OFFERINGS
TABLE 43 VENT-AXIA: MAJOR PRODUCT OFFERINGS
TABLE 44 S & P: MAJOR PRODUCT OFFERINGS
TABLE 45 WOLF: MAJOR PRODUCT OFFERINGS
TABLE 46 CIAT: MAJOR PRODUCT OFFERINGS
TABLE 47 AL-KO: MAJOR PRODUCT OFFERINGS
TABLE 48 DYNAIR: MAJOR PRODUCT OFFERINGS
TABLE 49 DANFOSS: MAJOR PRODUCT OFFERINGS
TABLE 50 LENNOX: MAJOR PRODUCT OFFERINGS
TABLE 51 BACKER SPRINGFIELD: MAJOR PRODUCT OFFERINGS
TABLE 52 DUNHAMBUSH: MAJOR PRODUCT OFFERINGS
TABLE 53 TCL ELECTRONICS: MAJOR PRODUCT OFFERINGS
TABLE 54 TROX GROUP: MAJOR PRODUCT OFFERINGS
TABLE 55 INGERSOLL RAND: MAJOR PRODUCT OFFERINGS
TABLE 56 CAMFIL: MAJOR PRODUCT OFFERINGS
TABLE 57 US RESIDENTIAL HEATING SYSTEMS MARKET BY GEOGRAPHY 2022−2028 ($ MILLION)
TABLE 58 US RESIDENTIAL HEATING SYSTEMS MARKET BY GEOGRAPHY 2022−2028 (THOUSAND UNITS)
TABLE 59 US RESIDENTIAL HEATING SYSTEMS MARKET BY EQUIPMENT 2022−2028 ($ MILLION)
TABLE 60 US RESIDENTIAL HEATING SYSTEMS MARKET BY EQUIPMENT 2022−2028 (THOUSAND UNITS)
TABLE 61 US RESIDENTIAL HEATING SYSTEMS MARKET BY END-USER 2022−2028 ($ MILLION)
TABLE 62 US RESIDENTIAL HEATING SYSTEMS MARKET BY END-USER 2022−2028 (THOUSAND UNITS)
TABLE 63 US RESIDENTIAL HEATING SYSTEMS MARKET BY DISTRIBUTION CHANNEL 2022−2028 ($ MILLION)
TABLE 64 US RESIDENTIAL HEATING SYSTEMS MARKET BY DISTRIBUTION CHANNEL 2022−2028 (THOUSAND UNITS)
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"The report by Arizton was spot on. It not only gave us insight into the pro audio market, we used it to raise funds for our company. The data proved (to the VC we pitched to) that the market was large enough for our company to not only survive but also grow."
