Residential Electric Boiler Market to cross $22.5B by 2032

SELBYVILLE, DE — The residential electric boiler market size is anticipated to exceed USD 22.5 billion by 2032, according to the latest research report published by Global Market Insights Inc.

Clean and energy-efficient technologies have garnered significant popularity over recent years, owing to the accelerating consumer transition from fossil fuels and an increased emphasis on limiting carbon emissions. This has fueled the deployment of residential electric boilers across apartments, multi-story buildings, and duplexes, complementing product demand by 2032. Another factor contributing to the industry expansion is the escalating policy support by regulatory authorities worldwide.

Governments across several economies have been pouring in significant investments and rolling out initiatives to favor the integration of sustainable systems in residential and commercial spaces to reduce greenhouse gas and carbon emissions. These include regulations pertaining to the construction, design and operation of the building in accordance with the specifications & mandates for energy-efficient appliances. This, in tandem with the consistent technological innovations in electrical appliances, will boost the residential electric boiler market demand by 2032.

Medium-Voltage Boiler Systems

The medium voltage residential electric boiler market is anticipated to expand at 11.5% CAGR (Compound Annual Growth Rate) between 2023 and 2032. Middle-voltage boiler systems offer several advantages, including high-pressure handling capacity, long operating life, and more safety, thereby spurring the product acceptance rate. Additionally, the introduction of energy-efficient codes & standards to promote energy efficiency, coupled with legislative mandates toward minimizing greenhouse gas emissions, will augment segment gains by 2032.

Asia Pacific Market

The APAC residential electric boiler industry captured 20% market share in 2022 and is poised to showcase remarkable growth during 2023-2032. A positive outlook toward the development of green buildings, together with the introduction of emission norms by governments of several regional economies, has stimulated the demand for these units in the region. Besides, stringent regulations pertaining to emission control supported by national targets to reduce the carbon footprint will further enhance product penetration.

Key Market Players

Prominent enterprises in this business space include ACV, Bosch Industriekessel GmbH, Chromalox, Thermon, VIESSMANN, Cochrane Engineering, Acme Engineering Products, Atlantic Boilers, Bradford White Corporation, Cleaver-Brooks, Danstoker, Electro Industries, FERROLI, Flexiheat, Klöpper-Therm GmbH, Kospel spółka, LAARS Heating Systems, P.M. Lattner Manufacturing, S.A.S Lacaze Energies, Slant/Fin Corporation, The Fulton Companies, Thermona, and Värmebaronen.

▪ In January 2022, VIESSMANN acquired PHS, an installation and maintenance specialist for HVAC solutions based in the UK and employing approximately 240 people. With the acquisition of PHS, VIESSMANN strengthened its services & sales activities across the UK.

▪In July 2022, Bosch Industriekessel launched the new ELSB electric boiler series for residential and commercial applications. The ELSB boiler is operated exclusively with electricity in accordance with the power-to-heat principle, and there is no need for flue gas components, chimneys, or fuel supply infrastructure. 

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