Residential Boiler Market Register a CAGR of 6% by Growing Demands, Size, Technology, Segment Analysis, Top Players Trends and Forecast 2030

Residential Boiler Market By Type (Water Tube Boiler, Fire Tube Boiler, and Electric Boiler), Technology (Condensing and Non-condensing), and Fuel Type (Coal Fired, Oil Fired, Gas Fired), and Region (North America, Europe, Asia-Pacific, and the Rest of the World) — Forecast till 2030

The global residential boiler market is expected to grow at a CAGR of 6% between 2022 and 2030.

The global residential boiler market has seen a significant turnaround in recent years due to the rapidly growing population and rising urbanization across emerging economies. The residential boiler market is expected to expand in the coming years as consumers become more aware of the benefits of modern, clean-burning boilers. Traditional boilers, which were large and heavy, have been replaced by smaller, more efficient boilers. The newer boilers are also less expensive and more accessible to a larger population.

Key Players

1. Ariston Thermo SpA
2. Bradford White Corporation
3. Burnham Holdings Inc.
4. Ferroli S.P.A.
5. Lennox International
6. Noritz Corporation
7. Robert Bosch GmbH
8. Slant/Fin Corporation
9. SPX Corporation
10. Viessmann Manufacturing Company Inc. and Others.

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The ongoing investments in the green building industry will boost market growth. The rising efforts to reduce GHG emissions and the increasing adoption of stringent regulatory measures are some significant factors driving industry growth. The global residential boiler market trends will be boosted further by low operating costs and high heating efficiency. Shifting trends toward installing energy-efficient water heating systems will boost market demand for residential boilers. 

Furthermore, the Coronavirus pandemic has hit the global economy, affecting several industries. Various governments worldwide have imposed strict lockdowns, resulting in the closure of various residential and commercial infrastructure projects. This has had a negative impact on the growth of many businesses, including the Residential Boiler Market. The demand for residential boilers decreased as people avoided unnecessary spending and focused on necessities such as groceries and medications. On the other hand, the global residential boiler market is expected to grow rapidly during the forecast period.

Residential Boiler Market segmentation:

The Global Residential Boiler Market is segmented based on fuel type, technology and type. 

According to the fuel type:

• Gas Fired
• Oil Fired
• Coal-Fired 
• Others

According to the technology:

• Non-condensing
• Condensing 

According to the type:

• Fire Tube Boiler
• Water Tube Boiler
• Electric Boiler

Report Scope:

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Residential Boiler Market Regional analysis:

The Global Residential Boiler Market is divided into North America, Asia-Pacific, Europe, and the Rest of the World. 

The Asia-Pacific market for residential boilers is rapidly expanding due to strong growth in the residential sector and rising living standards. The APAC region led the global market in revenue growth in 2019 and is expected to continue to do so throughout the forecast period. This is due to an increased demand for residential heating systems in the area. The region’s market is expected to grow significantly as the region’s urbanization and disposable income rise. As sustainable construction projects, progress and zero-emission building goals are met, the deployment of such units will increase.

The rising demand for cleanliness and environmental awareness has led the North American residential boiler market to expand rapidly. Residential boilers are an excellent investment for homeowners, as they keep the air clean, control heating and cooling systems, and ensure that there is always hot water available. 

Recent developments: 

• Viessmann, a hydronic heating manufacturer, will announce its newest products at an upcoming virtual event in June 2021. This release is expected to highlight new digital applications and new Vitodens boilers for contractors and homeowners.
• A.O. Smith Corp. acquired Giant Factories Inc., a Canadian manufacturer of residential and commercial water heaters, in October 2021. The acquisition also contributes to our corporate strategy by increasing our market penetration in North America, adding capacity, and improving our distribution capabilities.

TABLE OF CONTENTS

1. EXECUTIVE SUMMARY
2. MARKET INTRODUCTION

2.1. Market Definition

2.2. Scope Of The Study

2.2.1. Research Objectives

2.2.2. Assumptions & Limitations

2.3. Market Structure

3. MARKET RESEARCH METHODOLOGY

3.1. Research Process

3.2. Secondary Research

3.3. Primary Research

3.4. Forecast Model

4. MARKET LANDSCAPE

4.1. Supply Chain Analysis

4.2. Porter’s Five Forces Analysis

4.2.1. Threat Of New Entrants

4.2.2. Bargaining Power Of Buyers

4.2.3. Bargaining Power Of Suppliers

4.2.4. Threat Of Substitutes

4.2.5. Internal Rivalry

4.3. Impact Of COVID-19 On Global Residential Boiler Market

4.3.1. Impact On Production

4.3.2. Impact On Raw Material Availability

4.3.3. Impact On Pricing

4.3.4. Others

5. MARKET DYNAMICS OF THE GLOBAL RESIDENTIAL BOILER MARKET

5.1. Introduction

5.2. Drivers

5.3. Restraints

5.4. Opportunities

5.5. Challenges

6. GLOBAL RESIDENTIAL BOILER MARKET, BY TYPE

6.1. Introduction

6.2. Water Tube Boiler

6.2.1. Market Estimates & Forecast, 2019-2030

6.2.2. Market Estimates & Forecast, By Region, 2019-2030

6.3. Fire Tube Boiler

6.3.1. Market Estimates & Forecast, 2019-2030

6.3.2. Market Estimates & Forecast, By Region, 2019-2030

…Continued.

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