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Low Voltage Electric Boiler Market Size

Report ID: GMI10814
Published Date: Aug 2024
Report Format: PDF

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Low Voltage Electric Boiler Market Size

Low Voltage Electric Boiler Market was valued at USD 8.1 billion in 2023 and is estimated to grow at a CAGR of 11.6% from 2024 to 2032. The growing concerns over greenhouse gas emissions from space heating have led to the implementation of strict government regulations aimed at reducing carbon footprints and promoting cleaner technologies.

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A low voltage electric boiler is a heating system designed to operate at a lower electrical voltage. These boilers use electrical resistance or immersion heating elements to convert electrical energy into heat, which is then used to produce steam or hot water for heating purposes. They offer key benefits including energy efficiency, ease of installation, and minimal maintenance, making them a suitable choice for various heating needs, including space heating and hot water supply.

Low Voltage Electric Boiler Market Report Attributes
Report Attribute	Details
Base Year:	2023
Low Voltage Electric Boiler Market Size in 2023:	USD 8.1 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	11.6%
2032 Value Projection:	USD 21.9 Billion
Historical Data for:	2021 to 2023
No. of Pages:	140
Tables, Charts & Figures:	45
Segments covered:	Capacity, Application & Region
Growth Drivers:	Increasing population coupled with surging urbanization rate Extensive investments across the healthcare sector Increasing demand for energy efficient space and water heating systems
Pitfalls & Challenges:	High electricity cost Availability of other alternatives

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Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of low voltage electric boiler was worth over USD 8.1 billion in 2023 and is expected to register 11.6% CAGR from 2024 to 2032, owing to growing concerns over greenhouse gas emissions from space heating worldwide.

Low voltage electric boiler industry from the ? 10 MMBtu/hr segment is expected to surpass USD 15 billion by 2032, due to their compact size, ease of installation, and ability to provide consistent heating without the need for extensive piping or fuel storage.

Europe low voltage electric boiler industry is expected to reach over USD 12 billion by 2032, due to swift adoption of net-zero carbon emission goals in line with the rising emphasis on energy self-sufficiency in the region.

Fulton, Kospel, PARAT Halvorsen AS, Precision Boilers, Robert Bosch, S.A.S Lacaze Energies, Slant/Fin Corporation, Thermodyne Boilers, Thermon, Thermona, spol. s.r.o., Värmebaronen, Vattenfall AB, and VIESSMANN, are some of the major low voltage electric boiler companies worldwide.