Home > Energy & Power > Electrical Equipment > Boilers > Residential Electric Boiler Market

Residential Electric Boiler Market Size

Report ID: GMI5583
Published Date: Oct 2024
Report Format: PDF

Download Free Sample

Residential Electric Boiler Market Size

The global residential electric boiler market was valued at USD 8.9 billion in 2023 and is estimated to grow at a CAGR of 11.1% from 2024 to 2032. Strict government regulations and emission standards, along with growing consumer interest in installing sustainable equipment, will support a favorable business environment.

To get key market trends

Download Free Sample

A residential electric boiler is a heating system designed to provide hot water or central heating for homes using electricity as the primary energy source. They are typically compact, quiet, and easy to install, often requiring less maintenance due to the absence of combustion. Electric boilers are ideal for smaller homes or homes with limited space for fuel storage. The advancements in energy efficiency and green energy integration make them a growing choice in eco-conscious households.

Residential Electric Boiler Market Report Attributes
Report Attribute	Details
Base Year:	2023
Residential Electric Boiler Market Size in 2023:	USD 8.9 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	11.1%
2032 Value Projection:	USD 23.6 Billion
Historical Data for:	2021 to 2023
No. of Pages:	125
Tables, Charts & Figures:	40
Segments covered:	Voltage Rating and Region
Growth Drivers:	Paradigm shift toward decarbonization Increasing population coupled with surging urbanization rate Ongoing technological advancements along with favorable government norms
Pitfalls & Challenges:	High availability of other alternatives

Learn more about the key segments shaping this market

Download Free Sample

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

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.

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.

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.

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.