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Low Voltage Commercial Electric Boiler Market Size

Report ID: GMI9010
Published Date: Apr 2024
Report Format: PDF

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Low Voltage Commercial Electric Boiler Market Size

Low Voltage Commercial Electric Boiler Market was valued at USD 1.14 billion in 2023 and is estimated to grow at a CAGR of 15.2% between 2024 and 2032. The substantial investments from private and public entities aimed at developing commercial buildings, particularly in emerging economies, will drive the adoption of the product.

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A low voltage commercial electric boiler is a type of heating system designed for commercial applications that operates on low voltage electrical power. These systems do not produce harmful emissions like carbon monoxide, making them safer for indoor use. They are often compact and can be installed in areas where space is limited. Additionally, these boilers require less maintenance compared to boilers that use fossil fuels.

Low Voltage Commercial Electric Boiler Market Report Attributes
Report Attribute	Details
Base Year:	2023
Low Voltage Commercial Electric Boiler Market Size in 2023:	USD 1.14 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	15.2%
2032 Value Projection:	USD 4.05 Billion
Historical Data for:	2021 - 2023
No. of Pages:	350
Tables, Charts & Figures:	925
Segments covered:	Capacity, Product, Application & Region
Growth Drivers:	Surging measures toward the decarbonization of commercial sector Increasing requirements of space heating across commercial establishments Stringent government norms to limit carbon emissions
Pitfalls & Challenges:	High electricity cost

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Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of low voltage commercial electric boiler was reached USD 1.14 billion in 2023 and is expected to register 15.2% CAGR from 2024 to 2032, owing to substantial investments from both private and public entities aimed at developing commercial buildings, particularly in emerging economies worldwide.

Low voltage commercial electric boiler industry from the ? 0.3 - 2.5 MMBtu/hr segment is expected to exceed USD 350 million by 2032, due to widespread adoption of the product in various medium-scale applications for steam generation.

Europe low voltage commercial electric boiler industry is expected to reach over USD 1.95 billion by 2032, due to growing consumer preference and environmental pressures favoring the installation of efficient and dependable heating units in the region.

ACV, Hi-Therm Boilers Pvt. Ltd., LAARS Heating Systems Co., Lochinvar, Precision Boilers, Slant/Fin Corporation, The Fulton Companies, Thermona, spol. s.r.o., Thermon, Värmebaronen, and Vattenfall AB, are some of the major low voltage commercial electric boiler companies worldwide.