The heating equipment sales in the US have experienced fluctuations over the years. Between 2013 and 2023, the sales value showed varied growth and declines, with the value standing at $4.3384 billion in 2023. Notable variations include a high of -4.89% year-on-year drop in 2020 and a recovery with a 5.38% increase in 2021. Over the last five years, the sales demonstrated a modest CAGR of 0.11%.
Key trends:
- 2013: -3.17% YoY, -1.46% CAGR
- 2014: -2.44% YoY, 5.19% CAGR
- 2015: 0.37% YoY, 3.94% CAGR
- 2016: -4.6% YoY, 1.14% CAGR
- 2017: 1.84% YoY, -1.63% CAGR
- 2018: 0.12% YoY, -0.97% CAGR
- 2019: 0.12% YoY, -0.45% CAGR
- 2020: -4.89% YoY, -1.52% CAGR
- 2021: 5.38% YoY, 0.46% CAGR
- 2022: 0.11% YoY, 0.12% CAGR
- 2023: 0.11% YoY, 0.11% CAGR
Future trends to watch for include the forecasted annual growth at a modest CAGR of 0.09% from 2024 to 2028, with total projected growth of 0.45%. Factors influencing this trend could include advancements in energy-efficient technologies and shifts towards sustainable heating solutions.
