U.S. Heating Equipment Market 2030: Insights into Residential Demand
U.S. Heating Equipment Market Growth & Trends The U.S. heating equipment market size is expected to reach USD 5.88 billion by 2030, registering a CAGR of 4.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. Growing demand for energy-efficient heating equipment and favorable government initiatives is projected to augment market demand over the coming years. The heat pumps segment occupied the largest share in 2015 on account of its increasing preference in the industrial and commercial sectors. Heat pumps are very efficient in converting energy to heat at low operational costs. Boilers and furnaces are extensively used heating systems in the residential sector. Electric furnaces are gaining wide preference as they require less maintenance, are one of the least expensive, and are free from harmful emissions. Boilers are further categorized on the basis of product, size, and technology. Gather more insights about the market drivers, restrains...