Global Residential Boiler Market to Reach US$ 12.8 Billion by 2032, Impelled by Escalating Demand for Energy-Efficient Water Heating Equipment

June 24, 2022 | Other Reports

The latest report by IMARC Group, titled “Residential Boiler Market Report by Type (Water Tube Boiler, Fire Tube Boiler, Electric Boiler), Fuel Type (Coal Fired, Oil Fired, Gas Fired, and Others), Technology (Condensing, Non-condensing), and Region 2024-2032,” finds that the global residential boiler market reached a value of US$ 8.5 Billion in 2023. Residential boilers are hydronic heating systems that convert chemical energy into thermal energy for heating purposes. They heat the water inside a tank and supply hot water or steam through pipelines and radiators to keep the residential area warm. They also offer high reliability, longer shelf-life, less maintenance, optimal energy efficiency, and environmental-friendly properties. As a result, residential boilers are widely utilized across public buildings, holiday homes, farmhouses, and other residential places across the globe.

Global Residential Boiler Market Trends:

The market is primarily driven by the escalating demand for energy-efficient water heating equipment in the residential sector. In addition, the implementation of stringent regulations by governments of different nations to promote the establishment of green buildings and the adoption of eco-friendly residential boilers as a sustainable heating technology represent another major growth-inducing factor. Besides this, various key players are making huge investments in research and development (R&D) activities to introduce coal, oil, and gas-fired residential boilers at reduced manufacturing costs. This, coupled with the rising utilization of condensing boilers in residential areas due to their beneficial properties, such as affordability, reduced carbon footprints, and clean heating operation, is positively influencing the market growth. Moreover, the growing environmental concerns among the masses, the increasing number of construction activities across developing economies, and the rising disposable incomes of individuals are some of the other factors creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 12.8 Billion by 2032, exhibiting a CAGR of 4.5% during the forecast period (2024-2032).

Market Summary:

  • Based on the type, the market has been segregated into water tube, fire tube, and electric boilers.
  • On the basis of the fuel type, the market has been categorized into coal-fired, oil-fired, gas-fired, and others.
  • Based on technology, the market has been classified into condensing and non-condensing.
  • Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined in the report, with some of the key players being A. O. Smith Corporation, Ariston Holding N.V., Bradford White Corporation, Burnham Holdings Inc., Daikin Industries Ltd., FERROLI S.p.A, Lennox International Inc., NORITZ Corporation, Robert Bosch GmbH, Slant/Fin Corporation, SPX Corporation and Viessmann.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, Fuel Type, Technology, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered A. O. Smith Corporation, Ariston Holding N.V., Bradford White Corporation, Burnham Holdings Inc., Daikin Industries Ltd., FERROLI S.p.A, Lennox International Inc., NORITZ Corporation, Robert Bosch GmbH, Slant/Fin Corporation, SPX Corporation and Viessmann
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Residential Boiler Market to Reach US$ 12.8 Billion by 2032, Impelled by Escalating Demand for Energy-Efficient Water Heating Equipment
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