Residential Boiler Market Evaluation and Strategic Planning Comprehensive Analysis of Demand, Sales, and Production 2022-2030
Research Reports
Jun 22, 2023
The Global Residential Boiler Market is driven by the growing demand for energy-efficient heating solutions with a healthy CAGR of ~6% during the forecast period of 2022 to 2030.
Global Residential Boiler Market Overview
According to MRFR analysis, the Global Residential Boiler Market is expected to register a CAGR of~6% from 2022 to 2030 and hold a value of over USD 20.7 billion by 2030.
The Global Residential Boiler Market refers to the worldwide industry dedicated to the production, distribution, and sale of residential boilers. A residential boiler is a heating device designed to provide heat and hot water to residential buildings such as houses, apartments, and condominiums.
Residential boilers are typically fueled by natural gas, oil, or electricity and are used to generate heat by heating water or producing steam.
Factors driving the growth of the global residential boiler market include increasing population, urbanization, and the need for efficient heating solutions.
The COVID-19 pandemic had a significant impact Global Residential Boiler Market. The pandemic led to disruptions in the global supply chain, including manufacturing facilities and component suppliers. Restrictions on movement, lockdown measures, and reduced workforce availability affected the production and distribution of residential boilers. This resulted in delays in manufacturing and delivery timelines, leading to a temporary slowdown in the market.
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Regional Analysis
Europe is the largest region in the Global Residential Boiler Market. Europe has a long-standing tradition of utilizing residential boilers for heating purposes due to its colder climate and high demand for space heating and hot water in residential buildings.
Many European countries have a high prevalence of central heating systems in residential buildings, where boilers play a crucial role. Central heating systems provide efficient and uniform heating throughout the entire home, making them popular in European countries.
Europe has implemented strict energy efficiency regulations and initiatives to reduce carbon emissions and promote sustainable heating solutions. These regulations drive the demand for energy-efficient residential boilers, including condensing boilers, which have a higher efficiency compared to traditional non-condensing boilers.
Market Segmentation
The Global Residential Boiler Market has been segmented into type, technology and application.
Based on the type, the market has been segmented into water tube boiler, fire tube boiler and electric boiler.
Based on the technology, the market has been segmented into condensing and non-condensing.
Based on the application, the market has been segmented into residential, commercial and industrial.
Key Players
Some of the key market players are:
- Ariston Thermo SpA
- Bradford White Corporation
- Burnham Holdings Inc.
- Ferroli S.P.A.
- Lennox International
- Noritz Corporation
- Robert Bosch GmbH
- Slant/Fin Corporation
- SPX Corporation
- Viessmann Manufacturing Company Inc
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