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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.
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.
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.
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.
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.
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.