U.S. Heating Equipment (Except Warm Air Furnaces) Market. Analysis And Forecast to 2025
Since Climbing a New Peak of about 2 Billion USD in 2014, U.S. Imports of Heating Equipment (except Warm Air Furnaces) Have Appeared to Stabilize, with China as a Leading Supplier
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The U.S. takes a 10% share (based on USD) of global heating equipment (except warm air furnaces) imports, which put it in second place, following Germany (11%). In 2015, U.S. heating equipment imports totaled 2,041 million USD, which was 19 million USD (1%) less than the year before.
From 2007 to 2015, U.S. heating equipment (except warm air furnaces) imports showed mixed dynamics. A significant drop in 2009 was followed by a recovery over the next four years, until imports hiked by +17% in 2014. Imports stood stable in 2015, with an insignificant downward correction.
In 2015, U.S. imports surpassed the pre-recession level of 2008.
Considering a recovery over the recent years, the U.S. continues to be one of the biggest markets for global exporters.
China and Canada were the main suppliers of heating equipment (except warm air furnaces) into the U.S., with a combined share of 57% of total U.S. imports in 2015. China was the fastest growing supplier (+4.9% per year) from 2007 to 2015, while the import from Canada grew by +2.2% per year. China slightly improved its position within U.S. imports, from 33% in 2007 to 36% in 2015. By contrast, Canada's share decreased by -3 percentage points to 21%.
From 2007 to 2015, the U.S. was a net importer of heating equipment (except warm air furnaces). However, exports grew alongside imports on average over the period under review.
U.S. trade deficit in this sector generally followed the import dynamics, growing from 556 million USD in 2007 to 752 million USD in 2015 after several fluctuations. It increased sharply in 2014, driven by rising imports.
Source: IndexBox AI Platform
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