The North America heating equipment market was valued at US$ 7,610.8 million in 2019 and is projected to reach US$ 11,839.8 million by 2027; it is expected to grow at a CAGR of 6.0% from 2020 to 2027.
The US, Canada, and Mexico are major economies in North America. The changing climate has led to an increase in demand for electrical cooling systems in summer and natural gas, fuel oil, wood and electrical heating equipment in winter. In addition, climate change damages the energy use of buildings and affects air conditioning loads that vary depending on the ambient temperature and humidity. In the US, the energy efficiency of heating equipment is expected to improve with the introduction of new government regulations. This provides the key to the smart heating equipment market for most modern building heating and air conditioning units.
Manufacturing and supply chains have been disrupted by a lockdown and bans on transport in many countries. There has been economic stagnation and uncertainty in the manufacturing sector. In addition, school and workplace closures also reduced the commercial demand for heating appliances.. However, major growth is expected over the next few years from the efforts of key players in product creation and innovation.
North America Heating Equipment Market Segmentation
North America Heating Equipment Market – by Product
- Heat pumps
- Furnaces
- Boilers
- Unitary Heaters
North America Heating Equipment Market – by End user
- Residential
- Commercial
- Industrial
North America Heating Equipment Market – by Country
- US
- Canada
- Mexico
North America Heating Equipment Market – Companies Mentioned
- Carrier Global Corporation
- Daikin Industries, Ltd.
- Danfoss
- Emerson Electric Co.
- Haier Group Corporation
- Johnson Controls, Inc.
- Lennox International, Inc.
- Panasonic Corporation
- Robert Bosch GmbH
- Trane Technologies
North America Heating Equipment Market Strategic Insights
North America Heating Equipment Market Report Highlights
| Report Attribute | Details |
| Market size in 2019 | US$ 7,610.8 Million |
| Market Size by 2027 | US$ 11,839.8 Million |
| CAGR (2020 - 2027) | 6.0% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Product
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|
Regions and Countries Covered
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| North America | US, Canada, Mexico |
| Market leaders and key company profiles |
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North America Heating Equipment Market Country and Regional Insights
