United States Residential Heating Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The United States Residential Heating Equipment Market is segmented By Type (Furnace, Air and Water Heaters, Heat Pumps, Boilers).

United States Residential Heating Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

US Residential Heating Equipment Market Size

United States Residential Heating Equipment Market Size
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2019 - 2023
CAGR 5.50 %
Market Concentration Low

Major Players

United States Residential Heating Equipment Market Key Players

*Disclaimer: Major Players sorted in no particular order

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US Residential Heating Equipment Market Analysis

The United States Residential Heating Equipment Market is expected to register a CAGR of 5.5% during the forecast period.

  • Growing residential construction expenditure with increasing restructuring & replacement activities are predicted to boost heating equipment growth. The construction sector in the country is focused on developing sustainable and energy-efficient structures.
  • The introduction of favorable regulatory policies and rebates for homeowners by policymakers in the country to integrate heating equipment and systems in their new houses are augmenting the demand for heating equipment. In addition, the rising energy consumption in the residential sectors is projected to drive the preference for technologically advanced residential heating equipment that reduces overall operational costs and improves energy savings.
  • For instance, according to IEA, most heat pumps are installed in new buildings. In the United States, the share of heat pump sales for newly constructed buildings exceeds 40% for single-family dwellings and is near 50% for new multi-family buildings.
  • The increasing need to curb dependence on fossil fuels and look for an energy-efficient alternative to the furnace is driving the demand for residential heating equipment over the forecast period. However, the availability of substitutes for this equipment and the cost of installation is hindering the growth of the market.
  • The COVID- 19 pandemic has adversely affected the United States economy. Lockdowns across various states have resulted in the closure of multiple business activities and infrastructure development projects across the country. This has resulted in a decrease in demand for residential heating equipment.

US Residential Heating Equipment Industry Overview

The United States residential heating equipment market is highly fragmented as the demand for heating equipment is increasing in the country. The key players in the market like Daikin Industries Ltd., Emerson Electric Co., Robert Bosch LLC, and others, are continuously innovating new products and rising activities such as mergers and acquisitions and capacity expansion, further increasing the competition.

  • December 2021 - Mitsubishi Electric launched Ecodan Hydrodan, a new highly efficient, water-to-water heat pump for the multi-residential market. It is specifically designed to provide heating and hot water in residential apartments, and to capitalize on the significant sustainable energy efficiency that the next generation of heat networks offer. It also operates with a low quantity of low-GWP R32 refrigerant, to help keep environmental impact to a minimum.
  • August 2021 - Gradient, a San Francisco, California based startup, announced the development of a home window heat pump that will provide cooling and heating year-round, make use of a climate-friendly refrigerant possibly propane (R290) and reduce greenhouse gas emissions by 75% compared to conventional systems.

US Residential Heating Equipment Market Leaders

  1. Daikin Industries Ltd.

  2. Emerson Electric Co.

  3. Robert Bosch LLC

  4. Lennox International Inc.

  5. Johnson Controls

  6. *Disclaimer: Major Players sorted in no particular order
Daikin Industries Ltd., Emerson Electric Co., Robert Bosch LLC, Lennox International Inc., Johnson Controls
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US Residential Heating Equipment Market News

  • April 2021 - Daikin launched a new all-in-one heat pump system, the Altherma 3 Monobloc, which is its smallest unit yet. The Altherma 3 Monobloc air-to-water heat pump combines Daikin's efficient and sustainable heating technology into a compact and versatile solution for homes of all sizes. The new smaller system means homeowners no longer have to trade precious space in their homes for improved environmental sustainability.
  • March 2021 - Daikin is investing in the EU by adding a production line in the Daikin Manufacturing Germany GmbH (DMGG) factory to build even more hydronic heat pumps. This new production line will enable Daikin to produce wall-mounted indoor heat pump units used in several product ranges. With this new production facility, Daikin aims to strengthen its footprint in Europe's leading manufacturing hub and key heating market at the core of the energy transition.

US Residential Heating Equipment Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Industry Attractiveness - Porters Five Force Analysis
    • 4.2.1 Bargaining Power of Suppliers
    • 4.2.2 Bargaining Power of Buyers/Consumers
    • 4.2.3 Threat of New Entrants
    • 4.2.4 Threat of Substitutes
    • 4.2.5 Intensity of Competitive Rivalry
  • 4.3 Industry Value Chain Analysis
  • 4.4 Assessment of Impact of COVID-19 on the Market

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Increasing Demand for Energy-Efficient Solutions
    • 5.1.2 Stringent Measures to Reduce Carbon Footprints
  • 5.2 Market Challenges
    • 5.2.1 High Cost of Installation

6. SEGMENTATION

  • 6.1 By Type
    • 6.1.1 Furnace
    • 6.1.2 Air & Water Heaters
    • 6.1.3 Heat Pumps
    • 6.1.4 Boilers
    • 6.1.5 Other Types

7. COMPETITIVE LANDSCAPE

  • 7.1 Company Profiles
    • 7.1.1 Daikin Industries Ltd.
    • 7.1.2 Emerson Electric Co.
    • 7.1.3 Robert Bosch LLC
    • 7.1.4 Lennox International Inc.
    • 7.1.5 Johnson Controls
    • 7.1.6 Honeywell International
    • 7.1.7 Carrier Global Corporation
    • 7.1.8 Burnham Holdings, Inc.
    • 7.1.9 Rheem Manufacturing Company
    • 7.1.10 Bradford White Corporation
  • *List Not Exhaustive

8. INVESTMENT ANALYSIS

9. FUTURE OF THE MARKET

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US Residential Heating Equipment Industry Segmentation

Residential heating equipment includes furnace, air and water heater, heat pumps, and others that provide heat using electricity in the residential space for the purpose of ensuring the comfort of the occupants. The United States Residential Heating Equipment Market is segmented By Type (Furnace, Air and Water Heaters, Heat Pumps, Boilers).

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US Residential Heating Equipment Market Research FAQs

What is the current United States Residential Heating Equipment Market size?

The United States Residential Heating Equipment Market is projected to register a CAGR of 5.5% during the forecast period (2025-2030)

Who are the key players in United States Residential Heating Equipment Market?

Daikin Industries Ltd., Emerson Electric Co., Robert Bosch LLC, Lennox International Inc. and Johnson Controls are the major companies operating in the United States Residential Heating Equipment Market.

What years does this United States Residential Heating Equipment Market cover?

The report covers the United States Residential Heating Equipment Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the United States Residential Heating Equipment Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

United States Residential Heating Equipment Industry Report

Statistics for the 2025 United States Residential Heating Equipment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Residential Heating Equipment analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.