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North America & Europe Electric Boiler Market Size
- Report ID: GMI5180
- Published Date: Jul 2024
- Report Format: PDF
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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| North America & Europe Electric Boiler Market Size in 2023: | USD 7.7 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 11.4% |
| 2032 Value Projection: | USD 20.7 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 140 |
| Tables, Charts & Figures: | 40 |
| Segments covered: | Voltage Rating, Capacity, Application & Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
North America & Europe Electric Boiler Market Scope
