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商品編碼

1390158

全球家用爐市場 - 2023-2030

Global Residential Furnace Maket - 2023-2030

出版日期: 2023年12月05日 | 出版商:

DataM Intelligence | 英文 192 Pages | 商品交期: 約2個工作天內

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簡介目錄

概述

2022年，全球家用爐市場規模達68億美元，預計2030年將達到110億美元，2023-2030年預測期間CAGR為6.2%。

全球住宅爐市場預計在未來幾年將顯著成長，這主要是由於爐的新技術進步提高了其營運能源效率。製造商也擴大透過物聯網 (IoT) 整合智慧功能，以改善客戶的使用體驗。

私募股權投資住宅爐製造商的成長趨勢可能會影響市場的長期成長。隨著私募股權公司在疫情後尋求更安全的投資選擇，中小型製造商提供了絕佳的機會。此外，巨額投資使這些較小的參與者能夠擴大其市場佔有率。

動力學

房屋裝修率上升

過去三年，房屋裝修和翻新有所增加。由於新冠肺炎 (COVID-19) 大流行引發的封鎖，人們待在家裡的時間越來越多，人們試圖將精力投入到更具創造性的活動上，因此家居裝修變得越來越受歡迎。哈佛大學住房中心聯合中心(JCHS)的資料顯示，美國消費者在房屋裝修和改善方面的支出超過4,720億美元，預計2023年將達到4,850億美元。

房屋裝修為屋主透過安裝新的住宅爐子來實現供暖系統現代化創造了機會。事實上，鑑於全球房地產市場的波動以及一些已開發市場新房銷售的下降，新建住宅爐具銷售大部分發生在房屋裝修中。房屋裝修率的上升，特別是在平均房屋使用年限超過 10 年的已開發市場，將是預測期內推動市場成長的關鍵因素。

加大混合用途住宅區的開發力度

長期住房短缺已成為已開發國家的一大特徵。過去二十年的房屋成長一直非常乏力，再加上移民率上升和房價快速成長等其他因素，使這個問題像滾雪球一樣發展成為一場重大的政治爭議。

因此，為了緩解住房短缺問題，保障民眾負擔得起的住房，許多國家都著手開發高密度混合用途住宅區。這些區域將新公寓與商業和零售空間融為一體，從而為首次購房者提供了誘人的前景。

城市內高密度混合用途住宅區的不斷建設預計將對住宅爐集中供暖產生巨大需求。隨著這種類型的住房開發變得越來越受歡迎，在預測期內，它將同時增加對住宅爐的需求。

新的政府能源效率法規

各國政府正在針對能源密集型電器推出新的能源效率法規，以提高永續性。例如，美國政府從 2028 年起對所有銷售的新型燃氣住宅爐強制推行 95% 的年度燃料利用率 (AFUE) 標準。此外，歐盟也通過了固體燃料加熱器的能源效率規則，這很可能並在未來幾年內生效。

新能源效率規則的引入將導致住宅爐子價格上漲，因為製造商將把新高效系統增加的成本轉嫁給消費者。由於疫情後供應鏈中斷已經導致價格大幅上漲，新的政府效率標準可能會對中期內新住宅爐的銷售產生不利影響。

Overview

Global Residential Furnace Market reached US$ 6.8 billion in 2022 and is expected to reach US$ 11.0 billion by 2030, growing with a CAGR of 6.2% during the forecast period 2023-2030.

The global residential furnace market is expected to witness significant growth over the upcoming years, mainly on account of new technological advances in the furnaces to improve their operational energy efficiency. Manufacturers are also increasingly integrating smart features through internet of things (IoT) to improve customer usage experience.

The growing trend of private equity investment into residential furnace manufacturers is likely to influence market growth over the long term. With private equity firms looking for safer investment options in wake of the pandemic, small and medium-sized manufacturers offer the perfect opportunity. Furthermore, an outsize investment allows these smaller players to expand their market presence.

Dynamics

Rising Rates of Home Renovations

Home improvements and renovations have witnessed an uptick over the past three years. With people spending more time at home due to the COVID-19 pandemic-induced lockdowns, home improvements become more popular as people sought to channel their energies to more creative endeavors. According to data from the Joint Center for Housing Centers of Harvard University (JCHS), consumer spending on home renovations and improvements in U.S. topped US$ 472 billion and is expected to reach US$ 485 billion in 2023.

Home renovations create opportunities for home owners to modernize their heating systems by installing new residential furnaces. In fact, given the volatility in global housing market and decline in new home sales in some developed markets, the majority of new residential furnace sales are occuring in home renovations. Rising rates of home renovations, especially in developed markets, where the average house age is more than 10 years, will be a key factor in driving market growth over the forecast period.

Increasing Development of Mixed-Use Residential Zones

Chronic housing shortages has become a major feature of the developed world. Housing growth over the previous two decades has been highly anaemic and coupled with other factors, such as rising immigration rates and fast-paced growth in house prices, has snowballed the issue into a major political controversy.

Therefore, in order to alleviate housing shortage and to ensure affordable housing for the public, many countries are embarking on the development of high-density mixed-use residential zones. The zones encapsulate new apartments with commercial and retail spaces, thus providing an enticing prospect to first-time home buyers.

The rising construction of high-density mixed-use residential zones within the city are expected to generate significant demand for centralized heating from residential furnaces. As this type of housing development becomes evermore popular, it will concurrently raise the demand for residential furnaces over the forecast period.

New Government Energy Efficiency Regulations

Governments are unveiling new efficiency regulations for energy-intensive appliances in a bid to increase sustainability. For example, U.S. government has introduced a mandatory 95% annual fuel utilization efficiency (AFUE) standard on all new gas-powered residential furnaces sold from 2028. Furthermore, the European Union has also adopted energy efficiency rules for solid fuel heaters, which are likely to go into effect over the next few years.

The introduction of new energy efficiency rules will lead to an upward trend in residential furnace prices as manufacturers will pass on the increased costs of new efficient systems onto the consumers. With post-pandemic supply chain disruptions having already caused a significant price hike, new government efficiency standards are likely to have a detrimental effect on the sales of new residential furnaces over the medium term.

Segment Analysis

The global residential furnace market is segmented based on type, heat source, design and region.

Economical Costs Makes Gas-Powered Residential Furnace Ideal for Most Consumers

Residential furnaces utilizing gas as a heat source are most popular among consumers. Ease of installation, usage, high heating efficiency and the ability to ensure heating in the coldest temperatures are some of the key factors driving its popularity. Furthermore, gas-powered residential furnaces have some of the longest operational lifespans, nearly 15 to 20 years.

However, gas-powered residential furnaces require a municipal piped gas supply to function effectively. Still, given the operational inefficiences of electric, oil and coal as heating sources, gas-powered residential furnaces are more in demand among consumers and are likely to remain so without major design and operational improvements in other types of residential heaters.

Geographical Penetration

Consumers in North America Grapple With Increasing Prices

North America is expected to have the highest market growth during the forecast period. North America is a high per capita income region and is the primary source of demand for the global residential furnace industry. U.S. and Canada are the two countries within the region, which essentially generate all the demand for residential furnaces.

The North American market was highly fragmented, with a multitude of small, medium and large residential furnace manufacturers. However, over the last decade, the regional industry has undergone major consolidation, with multinational HVAC conglomerates such as Carrier and Johnson Control acquiring a host of smaller players. The consolidation has left consumers with reduced choices and has led to an increase in overall prices.

New energy efficiency requirements are likely to further increase the price burden on consumers. For instance, after U.S. Department of Energy (DoE) unveiled new energy efficiency regulations for residential furnaces in 2023, to be implemented five years later, manufacturers are likely to further raise prices to account for fitting of new technologies.

COVID-19 Impact Analysis

The onslaught of the COVID-19 pandemic created a slew of challenges for the global residential furnace market. The pandemic led to the disruption of global supply chains, thereby affecting the production, distribution and marketing of residential furnaces. Many manufacturers faced challenges in sourcing specialized components, as well as delays in transportation and logistics.

Residential furnace manufacturers adapted to the change in global market conditions by modifying residential furnaces with high-performance, antiviral air purification systems. However, it led to a steep price hike, leaving it unaffordable for a vast majority of consumers. Many consumers in developed regions put off purchasing new residential furnaces in wake of difficult economic conditions brought on by the pandemic.

Residential furnace manufacturers were buoyed by the K-shaped recovery in many developed markets in the post pandemic period. However, the effects of the pandemic are likely to linger on the industry over the short and medium term.

Russia-Ukraine War Impact Analysis

The ongoing war between Ukraine and Russia will continue to influence the demand dynamics of the global residential furnace market over the medium term. Stringent economic sanctions imposed on Russia due for the war have caused western residential furnace brands to exit the Russian market. The gap in the Russian market has been filled by lower quality Chinese imports. Western residential furnace brands are available at higher than market prices through parallel imports in the local grey market.

The sanctions on Russia have led to high energy costs for nations of the European Union (EU). High energy prices have led to consumers to cutback on heating expenses, thus curtailing the sales of residential furnaces in various European market over the short and medium term. The prolongation of the war could led to a permanent increase in European energy prices, thus affecting residential furance sales over the long term.

By Type

Single Stage Furnace
Two Stage Furnace
Modulating Furnace

By Heat Source

Gas
Electric
Oil
Wood
Hybrid

By Design

Natural Draft
Forced Draft
Condensing

By Region

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
South America
- Brazil
- Argentina
- Rest of South America
Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
Middle East and Africa

Key Developments

In October 2023, U.S. government issued new federal regulations requiring new gas-powered residential furnaces to maintain a 95% annual fuel utilization efficiency (AFUE), beginning from 2028.
In September 2023, Johnson Controls launched the new air365 Hybrid dual fuel system that combines heat pump with furnace to provide economical residential heating and cooling.
In September, 2023, Syntag Capital, a private equity firm, announced plan to buy the European HVAC operations of Lennox International Inc.

Competitive Landscape

The major global players in the market include: Lennox International Inc., Carrier Corporation, Johnson Controls, Rheem Manufacturing Company, Daikin Industries Ltd., Fujitsu General, Alpine Home Air Products, Goodman, Trane and Boyertown Furnace.

Why Purchase the Report?

To visualize the global residential furnace market segmentation based on type, heat source, design and region, as well as understand key commercial assets and players.
Identify commercial opportunities by analyzing trends and co-development.
Excel data sheet with numerous data points of residential furnace market-level with all segments.
PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
Product mapping available as excel consisting of key products of all the major players.

The global residential furnace market report would provide approximately 61 tables, 59 figures and 192 Pages.

Target Audience 2023

Furnace Manufacturers
Manufacturers/ Buyers
Industry Investors/Investment Bankers
Research Professionals
Emerging Companies

1. Methodology and Scope

1.1. Research Methodology
1.2. Research Objective and Scope of the Report

2. Definition and Overview

3. Executive Summary

3.1. Snippet by Type
3.2. Snippet by Heat Source
3.3. Snippet by Design
3.4. Snippet by Region

4. Dynamics

4.1. Impacting Factors
- 4.1.1. Drivers
  - 4.1.1.1. Rising Rates of Home Renovation
  - 4.1.1.2. Increasing Development of Mixed-use Residential Zones
- 4.1.2. Restraints
  - 4.1.2.1. New Government Energy Efficiency Regulations
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis

5. Industry Analysis

5.1. Porter's Five Force Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
5.5. Russia-Ukraine War Impact Analysis
5.6. DMI Opinion

6. COVID-19 Analysis

6.1. Analysis of COVID-19
- 6.1.1. Scenario Before COVID
- 6.1.2. Scenario During COVID
- 6.1.3. Scenario Post COVID
6.2. Pricing Dynamics Amid COVID-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion

7. By Type

7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 7.1.2. Market Attractiveness Index, By Type
7.2. Single Stage Furnace*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. Two Stage Furnace
7.4. Modulating Furnace

8. By Heat Source

8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Heat Source
- 8.1.2. Market Attractiveness Index, By Heat Source
8.2. Gas*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. Electric
8.4. Oil
8.5. Wood
8.6. Hybrid

9. By Design

9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Design
- 9.1.2. Market Attractiveness Index, By Design
9.2. Natural Draft*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3. Forced Draft
9.4. Condensing

10. By Region

10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 10.1.2. Market Attractiveness Index, By Region
10.2. North America
- 10.2.1. Introduction
- 10.2.2. Key Region-Specific Dynamics
- 10.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Heat Source
- 10.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Design
- 10.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 10.2.6.1. U.S.
  - 10.2.6.2. Canada
  - 10.2.6.3. Mexico
10.3. Europe
- 10.3.1. Introduction
- 10.3.2. Key Region-Specific Dynamics
- 10.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Heat Source
- 10.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Design
- 10.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 10.3.6.1. Germany
  - 10.3.6.2. UK
  - 10.3.6.3. France
  - 10.3.6.4. Italy
  - 10.3.6.5. Spain
  - 10.3.6.6. Rest of Europe
10.4. South America
- 10.4.1. Introduction
- 10.4.2. Key Region-Specific Dynamics
- 10.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Heat Source
- 10.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Design
- 10.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 10.4.6.1. Brazil
  - 10.4.6.2. Argentina
  - 10.4.6.3. Rest of South America
10.5. Asia-Pacific
- 10.5.1. Introduction
- 10.5.2. Key Region-Specific Dynamics
- 10.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Heat Source
- 10.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Design
- 10.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 10.5.6.1. China
  - 10.5.6.2. India
  - 10.5.6.3. Japan
  - 10.5.6.4. Australia
  - 10.5.6.5. Rest of Asia-Pacific
10.6. Middle East and Africa
- 10.6.1. Introduction
- 10.6.2. Key Region-Specific Dynamics
- 10.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Heat Source
- 10.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Design

11. Competitive Landscape

11.1. Competitive Scenario
11.2. Market Positioning/Share Analysis
11.3. Mergers and Acquisitions Analysis

12. Company Profiles

12.1. Lennox International Inc.*
- 12.1.1. Company Overview
- 12.1.2. Product Portfolio and Description
- 12.1.3. Financial Overview
- 12.1.4. Key Developments
12.2. Carrier Corporation
12.3. Johnson Controls
12.4. Rheem Manufacturing Company
12.5. Daikin Industries Ltd.
12.6. Fujitsu General
12.7. Alpine Home Air Products
12.8. Goodman
12.9. Trane
12.10. Boyertown Furnace

LIST NOT EXHAUSTIVE