According to the latest report by IMARC Group, title “Residential Boiler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global residential boiler market size reached US$ 7.73 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 10.52 Billion by 2027, exhibiting a CAGR of 5.10% during 2022-2027.

Residential boilers are hydronic heating devices that convert chemical energy into thermal energy for heating. They heat the water present in a tank and then transfer hot water or steam through pipes and radiators to keep the residential area warm. They offer excellent energy efficiency, longer shelf life, low maintenance, and environment-friendly properties. As a result, residential boilers find extensive applications in farmhouses, public buildings, holiday homes, and other residential places across the globe.

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Residential Boiler Market Trends: 

The global residential boiler market is primarily driven by the increasing demand for energy-efficient water heating equipment, such as residential boilers, to offer consumers easy access to warm water. Moreover, the rising use of condensing boilers in residential areas due to their beneficial properties, including reduced cost, low carbon footprints, and clean heating operation, is positively influencing the market growth. Additionally, the introduction of coal, oil, and gas-fired boilers at lower manufacturing costs owing to recent technological advancements and increasing investments in research and development (R&D) activities represents another major growth-inducing factor. Furthermore, several favorable initiatives undertaken by governments of numerous countries for encouraging the construction of green buildings and the use of eco-friendly home boilers as a sustainable heating solution due to rising concerns regarding the heat and pollution generated by boilers are propelling the market growth. Other factors, including the rising need for high-performance heaters with easy maintenance and installation, increasing construction activities, inflating consumer disposable incomes, and rapid urbanization, are also anticipated to drive the market further.

Key Market Segmentation:

The report has been segmented the market into following categories:

Breakup by Type:

  • Water Tube Boiler
  • Fire Tube Boiler
  • Electric Boiler

Breakup by Fuel Type:

  • Coal Fired
  • Oil Fired
  • Gas Fired
  • Others

Breakup by Technology:

  • Condensing
  • Non-condensing

Breakup by Geography:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

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List of Key Companies Covered in this Market Report:

The major players in the market are 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.

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About IMARC Group:

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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