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Low Voltage Electric Boiler Market Trends

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

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Low Voltage Electric Boiler Market Trends

The increasing demand for space and water heating solutions along with increasing applicability across wide areas including schools, airports and government institutions will fuel the boiler market. Increasing regulatory pressures to reduce carbon emissions coupled with wide scale utilization of these systems as an alternative to traditional fossil-fuel-based systems will foster business potential. Additionally, advancements in smart grid technology and the growing trend of electrification across a wide tandem of application will further propel the business growth.

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.