There are different varieties of furnaces which use different fuels including natural gas, electricity, propane, wood, coal, and others, to produce heat. A gas furnace is an equipment which is used for high temperature heating, which takes natural gas as an input to produce output. Gas furnaces are anticipated to offer a significant efficiency. The fuel efficiency of gas furnaces is measured in Annual Fuel Utilization Efficiency (AFUE). Gas furnaces are used in regions where heating is required to raise the temperature in the winter season to provide warmth to the residents of the region from the low temperature. The different components of gas furnaces includes control board, burners, automatic combination gas valve, heat exchangers, and others.
A gas furnace provides different gases which can be used as a fuel in the combustion chamber to produce heat in an efficient manner. The different gases include natural gas which consists of methane and other hydrocarbon gases, liquefied petroleum gas (LPG) which is liquid state of gases such as butane and propane, and other manufactured gases. Gas furnaces are anticipated to have efficiency up to 97%. There is a classification of gas furnaces based on their efficiency which includes standard-efficiency furnace with AFUE in range 78%-80%, mid-efficiency furnace with AFUE in range 78%-83%, and high-efficiency furnace with AFUE in range 87%-97%. Though the cost of a gas furnace is less than its main competitor electric furnace, the operational cost of a gas furnace is lower than electric furnace, in the long run. The main reason for low operational cost of a gas furnace is that the natural gas is cheaper than electricity and this is driving the growth of the gas furnace market globally. The gas furnace heats up the environment faster, as compared to other furnaces such as an electric furnace. The gas furnace completes the pairing with heat pump and air-conditioner in a better manner for year-round heating and cooling. In some regions, organizations are working on increasing the efficiency of gas furnaces by implementing different technological enhancements. For instance, Natural Gas Innovation Fund (NGIF), a fund generated by Canadian Gas Association (CGA), announced its support for a natural gas furnace, i2 Hybrid Smart Furnace, which utilizes natural gas for producing electricity and heat for household usage. One extra precaution which needs to be taken during the usage of gas furnace is the presence of a carbon monoxide detector in the environment where the furnace works.
The global gas furnace market can be segmented on the basis of product type, application, and region. On the basis of product type, the global gas furnace market can be segmented into single-stage gas furnaces and two-stage gas furnaces. The two-stage furnace provides a longer and slower heating cycle which provides more comfort to consumers with better air filtration, as compared to single stage furnaces. On the basis of application, the global gas furnace market can be segmented into residential usage and commercial usage. On the basis of regions, the market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa and South America. Gas furnaces are quite prominently used in regions such as North America and Europe, among other furnaces. The residential heating usage of gas furnaces is mainly prevalent in regions where the temperature is very low.
The global gas furnace market includes various players. Some of the key players in the market are American Standard, Kelvinator, Heil, Amana, Coleman, ENERGY STAR, Omni, among many others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.