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North America & Europe Electric Boiler Market Trends

Report ID: GMI5180
Published Date: Jul 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size for electric boiler in North America & Europe reached USD 7.7 billion in 2023 and is set to record 11.4% CAGR through 2032, backed by the introduction of mandates to limit greenhouse gas (GHG) emissions and paradigm shift toward decarbonization.

The low voltage electric boiler segment will generate revenues worth USD 15 billion by 2032. These boiler systems are compact and require very less maintenance, reducing the overall expense of operating the system.

Europe market is set to surpass USD 18 billion by 2032, owing to increased investments in infrastructure development and the implementation of strict emission regulations.

Thermona, Cerney S.A, Thermon, Slant/Fin Corporation, ACV, Ferroli S.p.A, Danstoker A/S, The Fulton Companies, Lathrop Trotter, PARAT Halvorsen AS, Cleaver-Brooks, Vapor Power International, Precision Boilers, Acme Engineering Prod., and Chromalox among others.