ASHRAE Journal - May 2021 - 6

INDUSTRY NEWS

U.S. Heating Market Affected
By Pandemic in 2020
Contributed by BSRIA Worldwide
Market Intelligence
BRACKNELL, BERKSHIRE, U.K.-Looking back at

the U.S. market for residential and
commercial boilers in 2020 shows
how hard it was hit by the COVID-19
pandemic. Overall, the heating
industry, including furnaces, boilers
and heat pumps, is worth-in terms
of products sold-$3.2 billion in U.S.
dollars. The industry fell by 6% in
2020.
As with other countries, lockdowns
and their impact on construction
and redundancies have meant
consumers have been reluctant to
spend. Heating manufacturers have
been trying to conserve cash; wholesalers are reducing their inventories; contractors are staying away
from work; and supply chains are
interrupted. At the same time, the
costs of components, transport and
labor have been going up, but the
market has seen only a very moderate price increase in products.
The pandemic has meant many
people are spending more time
at home, which has been a driver
for replacement, and, in some
cases, has been helped by financial
support mechanisms such as the
COVID-19 relief plan.
The U.S. heating market's recovery
will depend on the country's ability
to control COVID-19. It is recognized that a strong and sustainable economic recovery is strongly
correlated to strong and sustainable
health recovery.

6

ASHRAE JOURNAL

ashrae.org

Risks to the expected rates of
recovery include new variants of
the virus, the logistical distribution
of vaccines and people's behavior,
which may lead to more lockdowns.
U.S. Boiler Market
Forced air systems for heating and
cooling are the norm in the U.S.
Furnaces are typically a residential
application, and hydronic heating is
a niche application. In terms of efficiency, under the pressure of regulation, both gas furnaces and boilers
have seen growth in the past few

for-like replacement option.
There is a lot of discussion of the
new presidential administration's
intentions and some states' policies
(such as California's) on the electrification of heating. Large manufacturers are looking at how this will
affect them. The traditional boiler
manufacturers' greatest concern
is the development of air-to-water
heat pumps and whether this market will come to resemble the solid
growth seen in Europe.
At the moment, air-to-water heat
pump costs are higher, and they re-

U.S. Residential Heating Markets-Annual Growth Rates, by Volume

years, and condensing types with
annual fuel utilization efficiency
(AFUE) above 90% have significantly
increased in numbers.
The U.S. boiler market is quite stable and mature, with most growth
in the combination and wall-hung
boilers segment, and the emphasis is on competitive pricing. With
furnaces dominating (about eight
furnaces are sold for each boiler
sold), the hydronic heating market
is replacement-based, and floorstanding boilers are still a valid, like-

M AY 2021

quire greater skill and knowledge to
install. Also, they need to be able to
operate in a harsh climate. Hydronic
heating is mostly concentrated in
the Northeast, where average winter
temperatures are low. The drivers
to change would be better energy
efficiency, growing demand for allelectric homes and the ability to cool
as well as heat.
It is thought residential sales of
boilers will not reach 2019 levels
before 2022. In comparison to the
residential market, the commer-


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ASHRAE Journal - May 2021

Table of Contents for the Digital Edition of ASHRAE Journal - May 2021

Contents
ASHRAE Journal - May 2021 - Intro
ASHRAE Journal - May 2021 - Cover1
ASHRAE Journal - May 2021 - Cover2
ASHRAE Journal - May 2021 - 1
ASHRAE Journal - May 2021 - Contents
ASHRAE Journal - May 2021 - 3
ASHRAE Journal - May 2021 - 4
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ASHRAE Journal - May 2021 - 6
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ASHRAE Journal - May 2021 - Cover3
ASHRAE Journal - May 2021 - Cover4
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