The North America market is very different and has a unique heating market, with a huge furnace market linked to the domestic ducted air conditioning market. This has been a stable, steady, unspectacular boiler market for some years. However, with elections now out of the way there is a lot of discussion on the “Green New Deal” and other good intentions from the new administration.
Meanwhile, there are some quite radical state policies coming from California on the electrification of heating and we see big manufacturers scrambling to see exactly how this will affect them. Certainly, there is more scope for change. In terms of recovery, it is doing well in areas like house finances, but there are question marks on unemployment and how it will impact the heating market, which is heavily reliant on replacement and the ability to afford a newer, more efficient boilers.