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Residential Electric Boiler Market Share
The manufacturers in the residential electric boiler industry are adopting key initiatives to meet the rising demand for energy-efficient, eco-friendly heating solutions. These initiatives include significant investments in research and development to enhance boiler efficiency and reduce carbon footprints. The companies have introduced smart, connected boilers equipped with IoT-enabled technologies, allowing for remote monitoring and optimization of energy usage. Additionally, many players are focusing on diversifying their product portfolios by incorporating advanced materials that enhance the performance and lifespan of boilers.
Residential Electric Boiler Market Companies
Major players operating in the residential electric boiler industry are:
- ACV
- Acme Engineering Products
- Argo
- Atlantic Boilers
- Bosch Industriekessel
- Bradford White Corporation
- Chromalox
- Cleaver-Brooks
- Cochrane Engineering
- Danstoker
- Electro Industries
- Ferroli
- Flexiheat UK
- Fulton
- LAARS Heating Systems
- Lacaze Energies
- Thermolec
- Thermon
- Varmebaronen
- Viessmann
How big is the residential electric boiler market?
The global market for residential electric boiler was reached USD 8.9 billion in 2023 and is estimated to grow at a 11.1% CAGR from 2024 to 2032, driven by the shift towards decarbonization.
Why is the low voltage residential electric boiler market growing?
The low voltage residential electric boiler market is projected to exceed USD 15 billion by 2032, due to the need for efficient water heating systems and the transition to zero-emission buildings.
What is the growth rate of the medium voltage residential electric boiler market?
The medium voltage residential electric boiler market is expected to grow at a CAGR of about 10.5% through 2032, propelled by increasing environmental regulations and the shift towards sustainable heating solutions.
What trends are influencing the U.S. residential electric boiler market?
The U.S. residential electric boiler market is set to surpass USD 700 million by 2032, led by efforts to reduce greenhouse gas emissions and rising investments in green building infrastructure.