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Residential Boiler Market Trends

Report ID: GMI2034
Published Date: Oct 2024
Report Format: PDF

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Residential Boiler Market Trends

The growing demand for energy and the extensive use of heat-generating technologies are accelerating advancements in traditional boiler systems, which in turn will drive the industry growth. Growing utilization of energy efficient and reliable heating systems in tandem with global carbon reduction targets will foster the business dynamics. Additionally, growing initiatives to simplify and reduce the cost of retrofitting energy systems in residential buildings will propel the adoption of boilers.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of residential boiler reached USD 68.6 billion in 2023 and is set to grow at a CAGR of 8.1% from 2024 to 2032, driven by stringent government regulations aimed at reducing carbon emissions.

The gas-fueled residential boiler segment is projected to exceed USD 85 billion by 2032, due to the increasing adoption of smart thermostats and remote-controlled systems, along with government initiatives focused on reducing greenhouse gas emissions.

The condensing residential boiler segment is poised to expand at a CAGR of over 9.5% through 2032, led by their design that improves energy efficiency by recovering heat from flue gases and supportive government programs like tax incentives and rebates.

The U.S. market is expected to reach over USD 3 billion by 2032, propelled by ongoing technological advancements and a growing focus on improving reliability, performance, and energy efficiency.