Gas Furnace Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
- Transparency Market Research
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.
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