North America & Europe Electric Boiler Market Size - By Voltage Rating, By Application, By Capacity (≤ 10 MMBtu/hr, > 10 - 50 MMBtu/hr, > 50 - 100 MMBtu/hr, > 100 - 250 MMBtu/hr, > 250 MMBtu/hr) & Forecast, 2024 – 2032

North America & Europe Electric Boiler Market Size

North America & Europe Electric Boiler Market size was valued at USD 7.7 billion in 2023 and is estimated to grow at a CAGR of 11.4% between 2024 and 2032. The industry dynamics will be invigorated by a paradigm shift toward the adoption of efficient heating technologies and an increasing focus on developing zero-emission buildings. For instance, in 2024, the investment in the UK real estate industry saw a rise of over 6% in Q4 compared to the preceding quarter.
 

An electric boiler is a heating device that uses electricity rather than gas or oil to produce heat. It operates by heating water through resistance heating elements, converting electrical energy into heat energy. These boilers are popular for their simplicity and ease of installation often requiring less space compared to traditional boilers. They are suitable for homes and buildings where gas or oil heating systems are impractical or unavailable. Electric boilers are known for their efficiency, as they can convert nearly all the energy they consume into heat, making them a viable option for environmentally conscious consumers.
 

North America & Europe Electric Boiler Market Trends

The electric boiler industry is poised for growth owing to the implementation of mandates focused on reducing greenhouse gas emissions and a shift towards decarbonization. Stringent government regulations targeting carbon emission reductions and energy efficiency improvements have led to the establishment of strict standards, benefiting the industry landscape. Electric boilers offer notable advantages, including lower energy costs, enhanced comfort, and minimal operational expenses, which will further drive business expansion. Additionally, the continuous refurbishment of existing infrastructures and changing consumer preferences towards modular systems will positively influence the industry scenario.
 

North America & Europe Electric Boiler Market Analysis

The low voltage segment will exceed over USD 15 billion by 2032. The industry is poised for significant growth owing to the rising demand for energy-efficient heating systems and efforts aimed at energy conservation. Legislative measures promoting the adoption of efficient heating units and the replacement of existing systems will enhance the business outlook. Additionally, the need for space heating and hot water systems in cold climatic regions will fuel the product penetration.
 

The industrial electric boiler market size will witness over 14% CAGR through 2032. The widespread use of these units in primary metal manufacturing, pulp industries, and refineries will propel the industry growth. These boiler systems are compact and require minimal maintenance, which reduces overall operating expenses. Additionally, they produce lower emissions and residues compared to conventional boilers, enhancing their adoption across a wide range of applications. The growing demand to replace inefficient heating technologies with advanced systems will positively influence the business landscape.
 

The Europe electric boiler market is set to surpass USD 18 billion by 2032. The industry is set to experience significant growth owing to increased investments in infrastructure development and the implementation of strict emission regulations. The involvement of private companies, alongside federal and state governments, in the expansion and development of industrial facilities will enhance the industry landscape. Ongoing infrastructure expansion, driven by the growing construction sector, will boost product penetration. Additionally, the rising demand for space heating in medium and large-scale industries will escalate the business dynamics.
 

The U.S. electric boiler industry is set to experience steady growth owing to increasing industrialization and investments in the expansion of manufacturing facilities. These units are widely used in medium-scale industries for generating steam for process heating and are predominantly deployed in chemical and food processing units. The rising demand for food processing units fueled by changing consumer preferences and increasing disposable incomes will lead to broader adoption of these heating systems.
 

North America & Europe Electric Boiler Market Share

Cleaver-Brooks is a renowned manufacturer in the realm of industrial and commercial boiler solutions. The company has built a reputation for innovation and reliability in boiler technology. Their electric boilers are designed to meet various heating needs efficiently and sustainably. Its boilers are known for their robust construction, advanced controls, and high energy efficiency, offering reliable performance in diverse applications ranging from residential buildings to large industrial facilities. The company commitment to quality and customer satisfaction has positioned them as a trusted provider in the market, continually adapting to meet the evolving demands of energy-efficient heating solutions.
 

North America & Europe Electric Boiler Market Companies

The key industry players include:

• ATAG Commercial
• ACV
• CARRIER
• Cerney S.A
• Chromalox
• Cleaver-Brooks
• Danstoker A/S
• Ecotherm Austria GmbH
• Ferroli S.p.A
• Hi-Therm Boilers
• KOSPEL
• LACAZE ENERGIES
• Lathrop Trotter
• P. M. Lattner Manufacturing Co.
• PARAT Halvorsen AS
• Precision Boilers
• R.F. MacDonald Co.
• Ross Boilers
• STIEBEL ELTRON GmbH & Co. KG
• Slant/Fin Corporation
• The Fulton Companies
• Thermon
• Thermona
• Vapor Power International
   

North America & Europe Electric Boiler Industry News

• In February 2023, PARAT Halvorsen installed a 15 MW, 10 kV high-voltage electric boiler to supply hot water for Brande Fjernvarme. This boiler, operating at a temperature of 168°C and a pressure of 6.5 barg, is equipped with a control cabinet and control system. It is primarily designed for zero-load conditions and high efficiency.
   
• In November 2021, Viessmann has unveiled its latest range of electric heating products, including the Vitotron electric system boiler, space heaters and hot water heaters. These new addons complement their existing electric heat pump lineup. The new electric boiler, with a capacity range of 4-24 kW, offers reduced installation costs compared to traditional boilers. Viessmann's products are equipped with advanced features and controls for improved efficiency and are available through a variety of merchants.
   

The North America & Europe electric boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD Million” from 2021 to 2032, 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 country:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • UK
  • Poland
  • Italy
  • Spain
  • Austria
  • Germany
  • Sweden
  • Russia