The size of the North American Heating Equipment Market was valued at USD XX Million in 2024 and is projected to reach USD XXX Million by 2033, with an expected CAGR of XXX % during the forecast period. North American heating equipment plays a very significant role in keeping homes, businesses, and industrial spaces at comfortable and efficient indoor temperatures. Common types of heating systems include furnaces, boilers, heat pumps, and electric heaters. Furnaces are the most widely used heating systems and typically run on natural gas, propane, or oil and use forced air to distribute heat. Boilers, on the other hand, warm water and then use either steam or hot water to spread warmth through radiators or underfloor systems. Heat pumps are efficient systems that will both heat and cool spaces by transferring heat from the outside air or ground. Electric heaters, less efficient but a quicker form of localized heating. Modern heating equipment in North America focuses on energy efficiency and environmental factors, with many systems meeting stringent regulations for emissions and energy consumption. With the advancement of technology, smart thermostats and automation systems are becoming more prevalent to optimize heating performance.

The North American HVAC Equipment Market Report is Segmented by Equipment (air Conditioning Equipment, Heating Equipment, Heat Pumps, Dehumidifiers and Humidifiers), End User (residential, Industrial, Commercial), and Country (United States, Canada). The Report Offers Market Forecasts and Size in Value (USD) for all the Above Segments.

North America HVAC Equipment Market size was valued at USD 11.8 Billion in 2023 and is projected to reach USD 16.78 Billion by 2031, growing at a CAGR of 4.50% from 2024 to 2031.

North America HVAC Equipment Market Drivers

Smart System Integration: The installation of smart HVAC systems is significantly enhancing sustainability efforts. These systems utilize algorithms to interpret data from various sources, enabling precise control over HVAC consumption in unoccupied building zones. By providing transparency, real-time control, and comprehensive data collection, smart systems effectively reduce overall operating costs.

Impact of Industry 4.0 and Automation: The growth of Industry 4.0 and industrial automation underscores the importance of smart system integration. Automated HVAC systems play a crucial role in optimizing energy use and operational efficiency in industrial and manufacturing settings. This trend positively impacts market growth by promoting sustainable practices and enhancing operational capabilities.

Consumer Shift Towards Energy Efficiency: In the North American HVAC equipment market, there is a noticeable trend towards energy-efficient systems. This shift is driven by increasing consumer awareness of environmental concerns, stringent regulatory requirements, and advancements in technology. Consumers are increasingly opting for HVAC solutions that offer superior energy performance, aligning with government mandates to reduce carbon emissions and promote sustainability.

Regulatory Influence: Policies such as those from the US Department of Energy and the ENERGY STAR program are pivotal in driving the adoption of energy-efficient HVAC equipment. Regulations mandating higher Seasonal Energy Efficiency Ratios (SEER) for air conditioners are pushing manufacturers to innovate and develop more efficient models. For example, recent launches by Daikin and Carrier highlight industry responses to these regulatory demands.

The North American Home Heating Appliances Market Report is Segmented by Equipment (Heat Pumps, Furnaces, Boilers, and Unitary Heaters), Application (Residential and Commercial), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, and Online and Other Distribution Channels), and Geography (United States, Canada, and the Rest of North America). The Report Offers the Market Size in Value Terms in USD for all the Abovementioned Segments.

The North American Commercial Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market Report is Segmented by Equipment (Air Conditioning/Ventilation Equipment and Heating Equipment), End User (Public Utilities, Office Spaces, Retail Spaces, Education, Healthcare, Hospitality, and Other End Users), and Country (United States and Canada). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

The North America Commercial HVAC Market Report is Segmented by Type of Component (HVAC Equipment [Heating Equipment, Air Conditioning/Ventilation Equipment] and HVAC Services), End-User Industry (Hospitality, Commercial Building, Public Building, and Other End-User Industries), and Country (United States and Canada). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

United Technologies Corporation’s Carrier segment (UTC) had one of the largest shares of the North American HVAC market. In 2018, the company’s net sales totaled 66.5 billion U.S. dollars, an increase from the previous year. UTC Climate, Controls & Security is owned by UTC and provides HVAC products as well as fire safety and security solutions.

HVAC industry
The heating, ventilation, and air conditioning (HVAC) industry is based on technology that is used to provide thermal comfort and improve air quality indoors. Generally, the installation and controls are integrated into an HVAC system in individual buildings, however, HVAC systems may also be part of a larger district heating/cooling networks.

Residential vs Commercial market

HVAC systems are used in both the residential and commercial sectors. The residential market tends to be less complex than the commercial sector due to less competitors along the supply chain and the consolidation of the manufacturing and distribution processes. On the other hand, the commercial consists of more market players, due to market support has placed more importance on the efficiency of HVAC equipment.

In 2023, the North America HVAC Systems Market reached a value of USD 65.76 billion, and it is projected to surge to USD 99.21 billion by 2030.

The global warm air heating equipment market is experiencing robust growth, driven by increasing urbanization, rising disposable incomes in developing economies, and a growing preference for energy-efficient and comfortable indoor environments. The market, estimated at $45 billion in 2025, is projected to expand at a Compound Annual Growth Rate (CAGR) of 5% from 2025 to 2033, reaching approximately $65 billion by 2033. This growth is fueled by several key factors. The residential sector currently dominates the market share, due to rising housing construction and renovation activities globally. However, the commercial and industrial segments are poised for significant growth, driven by the increasing need for efficient heating solutions in large buildings and industrial facilities. Technological advancements, such as smart thermostats and heat pump integration, are further enhancing the market appeal, offering enhanced energy efficiency and cost savings. Government regulations promoting energy conservation and reducing carbon emissions are also indirectly stimulating demand for eco-friendly warm air heating systems like those powered by electricity or utilizing advanced gas technologies. Despite the positive outlook, the market faces certain challenges. Fluctuating raw material prices, particularly for metals and plastics used in manufacturing, can impact production costs and profitability. Furthermore, the high initial investment cost associated with installing advanced warm air heating systems can act as a restraint, particularly in price-sensitive markets. Competition among major players like Honeywell, Daikin, Danfoss, and Johnson Controls is intense, leading to pricing pressure and a need for constant innovation. However, the market is expected to continue its upward trajectory, driven by the long-term trend towards improved building efficiency and comfort. Regional variations in growth will exist, with North America and Europe maintaining substantial market shares due to established infrastructure and high adoption rates. However, rapid economic growth and urbanization in Asia-Pacific are likely to accelerate market expansion in that region over the forecast period.

The Report Covers Heating Equipment Market Size and It is Segmented by Product Type (Heat Pumps, Furnaces, Boilers, Unitary Heaters), End-User Industry (Residential, Commercial, Industrial), Geography (North America, Europe, Asia Pacific, Rest of the World). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

The global heating equipment market is experiencing robust growth, driven by increasing urbanization, rising disposable incomes in developing economies, and the escalating demand for energy-efficient and sustainable heating solutions. The market, while mature in developed regions like North America and Europe, is witnessing significant expansion in Asia-Pacific, particularly in rapidly developing nations like India and China, fueled by robust infrastructure development and a growing middle class. Key market drivers include stringent government regulations promoting energy efficiency (like those focused on reducing carbon emissions), advancements in smart home technology integrating heating systems, and the increasing popularity of heat pumps as a sustainable alternative to traditional fossil fuel-based systems. The market is segmented by type (e.g., boilers, furnaces, heat pumps, etc.) and application (residential, commercial, industrial), with the residential segment currently holding the largest market share. Leading players, including Daikin Industries, Ingersoll-Rand, Lennox International, Robert Bosch, and United Technologies, are focusing on innovation, strategic acquisitions, and expansion into new markets to maintain their competitive edge. Competition is intensifying with the entry of smaller players offering niche solutions and innovative technologies. While the market faces challenges such as fluctuating raw material prices and supply chain disruptions, the long-term outlook remains positive, driven by sustained demand and technological advancements. The forecast period (2025-2033) anticipates continued growth, with a projected Compound Annual Growth Rate (CAGR) influenced by several factors. These include the increasing adoption of renewable energy sources for heating, governmental incentives promoting energy efficiency upgrades, and the growing awareness of the environmental impact of traditional heating systems. The market is likely to witness further segmentation, with specialized heating solutions tailored to specific needs emerging. Regional variations in growth rates will reflect differences in economic development, climate conditions, and government policies. For instance, regions with colder climates are likely to show higher demand compared to tropical regions. The continuous focus on Research and Development by major players in innovative technologies like smart thermostats and IoT integration will further shape market dynamics over the next decade.

The U.S. Commercial Heating Equipment Market size was valued at USD 42.65 million in 2023 and is projected to reach USD 60.01 million by 2032, exhibiting a CAGR of 5.0 % during the forecasts period. Commercial heating equipment refers to systems designed to provide heat for large-scale or industrial spaces such as offices, warehouses, hospitals, and manufacturing facilities. These systems are typically more robust and powerful than residential heating units, capable of handling greater heating loads and operating over extended periods. Technological advancements play a pivotal role in shaping the market landscape, with continuous innovations leading to more energy-efficient and environmentally friendly heating systems. The push towards sustainability and energy conservation has spurred the adoption of modern heating technologies that offer lower carbon footprints and reduced operating costs over the long term. The U.S. commercial heating equipment market is characterized by innovation, regulatory compliance, and economic factors that collectively drive demand for efficient and sustainable heating solutions. As businesses strive to enhance operational efficiency and minimize environmental impact, the market continues to evolve with a focus on technological advancements and compliance with stringent regulatory standards. Recent developments include: In July 2023, Rheem Manufacturing Company acquired DEJONG from Nordian Capital, a manufacturer and supplier of stainless steel hot water tanks. , In June 2023, Automated Logic Corporation, a part of Carrier, announced that it had signed an agreement for the acquisition of Standard Plumbing Heating Controls (SPHC), a Washington-based independent Automated Logic Dealer. SPHC provides HVAC and building automation services for various establishments, including colleges, schools, commercial buildings, universities, and healthcare facilities. .

The United States HVAC Equipment Market Report is Segmented by Type of Equipment (Air Conditioning Equipment (Unitary Air Conditioners, Room Air Conditioners, Packaged Terminal Air Conditioners, and Chillers), Heating Equipment (Warm Air Furnace (Gas and Oil), Boilers, Room & Zone Heating Equipment, Heat Pumps (Air-Sourced and Geothermal)), Ventilation Equipment (Air Handling Units, Fan Coil Units, Building Humidifiers, and Dehumidifiers)), End User (Residential, Commercial, and Industrial), and Region (West, South, Midwest, and Northeast). The Report Offers Market Forecasts and Size in Value (USD) for all the Above Segments.

The market size of the North America Underfloor Heating Systems Market is categorized based on Application (Type 1, Type 2, Type 3, Type 4) and Product (Type 1, Type 2, Type 3, Type 4) and geographical region of North America which includes United States of America, Canada and Mexico.

U.S. industrial microwave heating equipment market will maintain a 5.7% CAGR, resulting in a market size of USD 297.22 Million by the conclusion of 2032.

North America was the region with the largest market size of the heat exchangers for the eating, ventilation, air conditioning, and refrigeration (HVAC-R) worldwide. Meanwhile, the market size of HVAC-R heat exchangers in Europe was valued at 773 million euros in 2023. Heat exchangers are devices that are used for energy and electricity generation, as well as in the food and beverage, petrochemical, and the HVAC-R industries.

The market offers a wide range of smart HVAC systems, including single split systems, variable refrigerant flow (VRF) systems, chillers, and multi-split systems. Single split systems are the most common type of smart HVAC system, as they are relatively inexpensive and easy to install. VRF systems are becoming increasingly popular in commercial buildings, as they offer greater energy efficiency and flexibility than traditional HVAC systems. Chillers are used to cool large spaces, such as warehouses and factories. Multi-split systems are similar to single split systems, but they can be used to cool multiple rooms or zones. Key drivers for this market are: Rapid advancement of IoT and AI technologies, enabling features like predictive maintenance and real-time energy monitoring, is further enhancing the appeal of smart HVAC systems. Potential restraints include: High initial costs of smart HVAC systems and their associated components, such as sensors and IoT modules, deter adoption among cost-conscious consumers and small businesses. Notable trends are: Governments and regulatory bodies have introduced stringent energy-efficiency standards and incentives, such as tax credits, which encourage the installation of smart HVAC systems.

The size and share of the market is categorized based on Application (Electric Heaters, Gas Heaters, Infrared Heaters, Oil Heaters) and Product (Manufacturing Processes, Industrial Drying, HVAC Systems, Laboratory Heating) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The North American HVAC equipment market expanded significantly to $14.1B in 2024, rising by 8.6% against the previous year. The market value increased at an average annual rate of +2.2% from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $15.2B. From 2021 to 2024, the growth of the market failed to regain momentum.

The global market for heating equipment (excluding warm air furnaces) is experiencing robust growth, projected to reach $5538.3 million in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 8.2% from 2025 to 2033. This expansion is fueled by several key factors. Increasing urbanization and a rising global population are driving demand for efficient and reliable heating solutions in residential, commercial, and industrial sectors. Furthermore, stricter energy efficiency regulations in many regions are pushing the adoption of advanced heating technologies, such as high-efficiency boilers and biomass-fueled systems. Growth is also being spurred by technological advancements leading to more sustainable and cost-effective heating options, including smart thermostats and heat pump integration. The market is segmented by equipment type (fireplaces and wood-burning stoves, supplemental heaters, low-pressure steam, hot water boilers, and furnaces) and application (household, commercial, industrial), allowing for targeted investment and product development. Strong growth is expected particularly in developing economies experiencing rapid industrialization and infrastructure development. The competitive landscape includes established players like ECR International and newcomers focusing on innovative solutions. The regional distribution of this market reveals significant opportunities across various geographies. North America and Europe currently dominate the market, driven by high energy consumption and existing infrastructure. However, Asia-Pacific is projected to witness the fastest growth rate due to rapid economic development and expanding infrastructure projects in countries like China and India. The Middle East and Africa are also expected to demonstrate strong growth, albeit from a smaller base, driven by increasing urbanization and industrialization. While some regions might face challenges related to fluctuating energy prices and economic uncertainties, the overall market outlook remains positive, driven by persistent demand for heating solutions coupled with technological innovations and environmental regulations. This report provides a detailed analysis of the global heating equipment market, excluding warm air furnaces. Valued at approximately $150 billion in 2023, this dynamic sector is experiencing significant transformation driven by technological advancements, regulatory changes, and evolving consumer preferences. The report delves into key market segments, competitive dynamics, and future growth projections, offering invaluable insights for industry stakeholders. Keywords: Boilers, Heaters, Furnaces, Steam Heating, Hot Water Heating, Fireplace, Wood Stove, Supplemental Heating, Commercial Heating, Industrial Heating, HVAC, Biomass Heating, Solar Heating, Geothermal Heating.