Electric Boiler Market Size – By Capacity, By Voltage Rating, By Application, Analysis, Share, Growth Forecast, 2025 – 2034

Electric Boiler Market Size

The global electric boiler market size was valued at USD 11.7 billion in 2024 and is estimated to grow at a CAGR of 11.2% from 2025 to 2034. Rising investments from public and private sectors in the healthcare industry are set to fuel the industry scenario. This surge is anticipated owing to the strong development of new hospitals, nursing homes, and clinics along with the ongoing refurbishment of existing facilities to accommodate more patients. For instance, in 2023, the healthcare spending increased by over 4% across the U.S.
 

An electric boiler is a unit that uses electricity to produce hot water and steam consisting of an arrangement of vessels and tubes or a closed vessel where steam is generated from water to power a turbine or engine. Unlike traditional boilers that rely on fossil fuels, electric boilers use electrical resistance to heat water within a closed vessel or tubing arrangement. These units generate no carbon emissions since they do not burn fossil fuels to produce heat.
 

Electric Boiler Market Trends

Flourishing real estate sector have seen significant growth owing to the increasing global population, which in turn will positively sway the boiler market. The implementation of stringent policies targeting greenhouse gas emissions is anticipated to lower emission rates, creating a favorable business environment. The industry is poised for considerable growth driven by the increasing number of housing units and rising urbanization rates. The key parameters comprising of higher living standards, growing disposable incomes and the rising adoption of energy-efficient heating systems will further foster the product penetration.
 

Electric Boiler Market Analysis

The ≤ 10 MMBtu/hr rated segment will exceed USD 25 billion by 2034. The implementation of strict emission regulations to reduce carbon emissions coupled with efforts to optimize energy use in residential and small-scale commercial buildings will propel the industry demand. The product offers key advantages including high efficiency, low emissions, and enhanced comfort, further contribute to the business expansion.
 

The low voltage electric boiler market will witness a growth at a CAGR of over 10.5% through 2034. These boiler systems are compact and require minimal maintenance, lowering overall operating costs. Additionally, they produce fewer emissions and residues compared to traditional boilers, enhancing their adoption across a wide range of applications. The growing demand to replace inefficient heating technologies will drive the market growth. Regulatory mandates aimed at reducing greenhouse gas emissions combined with the growing adoption of low-emission heating systems, will boost the product demand.
 

U.S. electric boiler market is set to reach over USD 1.5 billion by 2034. The industry has experienced significant growth driven by strict emission regulations and increasing investments in green building initiatives. Collaboration between private players and federal or state governments to develop and expand residential buildings will create a favorable business environment. Resurgent economic growth led by rapid industrialization coupled with surging investments toward the expansion of manufacturing facilities will energize the business dynamics.
 

EU member nations are also aiming for climate neutrality by 2050, with net-zero carbon emissions through reduced reliance on fossil fuels, creating business opportunities for electric boilers across the Europe. Additionally, the shift toward clean energy sources and environmental regulations promoting the installation of efficient and reliable heating systems will further drive industry growth. Furthermore, the continued replacement of existing heating systems along with regulations promoting the adoption of efficient boilers, will further enhance the industry outlook.
 

Electric Boiler Market Share

The manufacturers in the market are adopting several key strategies to maintain competitiveness and cater to growing demand for energy-efficient heating solutions. One prominent strategy is product innovation, focusing on developing high-efficiency, low-emission electric boilers that meet stringent environmental regulations and offer improved energy savings. The companies are also enhancing the integration of smart technologies into their electric boilers, such as IoT-enabled systems that allow remote monitoring and control, contributing to greater convenience and energy optimization.
 

Electric Boiler Market Companies

Major players operating in the electric boiler industry are:

• ACV
• Acme Engineering Products
• Atlantic Boilers
• Babcock Wanson
• Bosch Industriekessel
• Bradford White
• Chromalox
• Danstoker
• Electro Industries
• Ferroli
• Flexiheat UK
• Fulton
• Hi-Therm Boilers
• Laars Heating Systems
• Lochinvar
• P.M. Lattner Manufacturing
• Parat Halvorsen
• Precision Boilers
• Thermodyne Boilers
• Thermon
• Vattenfall
• Viessmann

Electric Boiler Industry News

• In July 2024, Bradford White Corp. has acquired FloLogic, one of the leading manufacturers specializing in plumbing leak detection and automatic shutoff solutions. This acquisition underscores Bradford White's commitment to innovation and quality, bolstering its smart technology offerings. FloLogic's IoT-driven technology provides advanced protection against plumbing leaks. As a result, this move will enhance company's product portfolio within the HVAC industry.
   
• In July 2022, Flexheat UK developed a 15-kW electric boiler, which is one of the renowned electric boilers for hot water systems and central heating. This boiler replaces gas boilers and oil boilers to reduce their carbon footprints. In addition, the product consists of a pump, a vessel, and a pressure relief valve, which eliminate extra piping & plumbing network and deliver 100% efficiency to the end users.
   

The electric boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume (Units) & revenue (USD Million) from 2021 to 2034, for the following segments:

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Market, By Capacity

• ≤ 10 MMBtu/hr
• > 10 - 50 MMBtu/hr
• > 50 - 100 MMBtu/hr
• > 100 - 250 MMBtu/hr
• > 250 MMBtu/hr

Market, By Voltage Rating

• Low Voltage
• Medium Voltage

Market, By Application

• Residential
• Commercial
  • Offices
  • Healthcare Facilities
  • Educational Institutions
  • Lodgings
  • Retail Stores
  • Others
• Industrial
  • Food Processing
  • Pulp & Paper
  • Chemical
  • Refinery
  • Primary Metal
  • Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • UK
  • Poland
  • Italy
  • Spain
  • Austria
  • Germany
  • Sweden
  • Russia
• Asia Pacific
  • China
  • India
  • Philippines
  • Japan
  • South Korea
  • Australia
  • Indonesia
• Middle East & Africa
  • Saudi Arabia
  • Iran
  • UAE
  • Nigeria
  • South Africa
• Latin America
  • Argentina
  • Chile
  • Brazil