PUBLISHER: IMARC | PRODUCT CODE: 1521296
PUBLISHER: IMARC | PRODUCT CODE: 1521296
Residential Boiler Market Report by Type (Water Tube Boiler, Fire Tube Boiler, Electric Boiler), Fuel Type (Coal Fired, Oil Fired, Gas Fired, and Others), Technology (Condensing, Non-condensing), and Region 2024-2032
The global residential boiler market size reached US$ 8.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 12.8 Billion by 2032, exhibiting a growth rate (CAGR) of 4.5% during 2024-2032.
Residential boilers refer to hydronic heating systems that convert chemical energy into thermal energy to heat the water present inside the tank. They consist of radiators or baseboards that assist in heating the water via convection and maintaining the temperature while circulating it through metallic vessels. Residential boilers offer high reliability, longer shelf-life, less maintenance, optimal energy efficiency, and are environmental-friendly. On account of these properties, they are employed across public infrastructures, holiday homes, and residential establishments. At present, residential boilers are commercially available in condensing and non-condensing technologies.
Residential Boiler Market Trends:
With the rising ongoing construction activities, particularly in emerging economies, there has been an increasing demand for energy-efficient water heating equipment, such as residential boilers, to offer consumers an easy access to warm water. This represents the prime factor currently driving the market growth. In line with this, the rising concerns regarding the heat and pollution generated by boilers have prompted the governments of various countries to undertake stringent initiatives for promoting the establishment of green buildings and uptake of eco-friendly residential boilers as a sustainable heating technology. This, in turn, assists in improving air quality by mitigating the depletion of natural resources and minimizing the emissions of greenhouse gases (GHGs). Additionally, significant technological advancements and growing investments in research and development (R&D) activities have led the introduction of coal, oil, and gas-fired residential boilers at reduced manufacturing cost, which is also contributing to the market growth. Moreover, the extensive utilization of condensing boilers in residential areas on account of its various beneficial properties, including affordability, reduced carbon footprints, and clean heating operation, is propelling the market growth. Other factors, such as rapid urbanization and rising disposable incomes in developing regions, along with the increasing need for high-performance heating devices with easy maintenance and installation, are creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global residential boiler market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type, fuel type and technology.
Breakup by Type:
Water Tube Boiler
Fire Tube Boiler
Electric Boiler
Breakup by Fuel Type:
Coal Fired
Oil Fired
Gas Fired
Others
Breakup by Technology:
Condensing
Non-condensing
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being A. O. Smith Corporation, Ariston Holding N.V., Bradford White Corporation, Burnham Holdings Inc., Daikin Industries Ltd., FERROLI S.p.A, Lennox International Inc., NORITZ Corporation, Robert Bosch GmbH, Slant/Fin Corporation, SPX Corporation and Viessmann.
Key Questions Answered in This Report
- 1. What was the size of the global residential boiler market in 2023?
- 2. What is the expected growth rate of the global residential boiler market during 2024-2032?
- 3. What are the key factors driving the global residential boiler market?
- 4. What has been the impact of COVID-19 on the global residential boiler market?
- 5. What is the breakup of the global residential boiler market based on the type?
- 6. What is the breakup of the global residential boiler market based on the fuel type?
- 7. What is the breakup of the global residential boiler market based on the technology?
- 8. What are the key regions in the global residential boiler market?
- 9. Who are the key players/companies in the global residential boiler market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Residential Boiler Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type
- 6.1 Water Tube Boiler
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Fire Tube Boiler
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Electric Boiler
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
7 Market Breakup by Fuel Type
- 7.1 Coal Fired
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Oil Fired
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Gas Fired
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Others
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
8 Market Breakup by Technology
- 8.1 Condensing
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Non-condensing
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 A. O. Smith Corporation
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 Ariston Holding N.V.
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 Bradford White Corporation
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 Burnham Holdings Inc.
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.5 Daikin Industries Ltd.
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 FERROLI S.p.A
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.7 Lennox International Inc.
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 Financials
- 14.3.7.4 SWOT Analysis
- 14.3.8 NORITZ Corporation
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.9 Robert Bosch GmbH
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 SWOT Analysis
- 14.3.10 Slant/Fin Corporation
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.11 SPX Corporation
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.12 Viessmann
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.1 A. O. Smith Corporation
List of Figures
- Figure 1: Global: Residential Boiler Market: Major Drivers and Challenges
- Figure 2: Global: Residential Boiler Market: Sales Value (in Billion US$), 2018-2023
- Figure 3: Global: Residential Boiler Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 4: Global: Residential Boiler Market: Breakup by Type (in %), 2023
- Figure 5: Global: Residential Boiler Market: Breakup by Fuel Type (in %), 2023
- Figure 6: Global: Residential Boiler Market: Breakup by Technology (in %), 2023
- Figure 7: Global: Residential Boiler Market: Breakup by Region (in %), 2023
- Figure 8: Global: Residential Boiler (Water Tube Boiler) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 9: Global: Residential Boiler (Water Tube Boiler) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 10: Global: Residential Boiler (Fire Tube Boiler) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 11: Global: Residential Boiler (Fire Tube Boiler) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 12: Global: Residential Boiler (Electric Boiler) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 13: Global: Residential Boiler (Electric Boiler) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 14: Global: Residential Boiler (Coal Fired) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 15: Global: Residential Boiler (Coal Fired) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 16: Global: Residential Boiler (Oil Fired) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 17: Global: Residential Boiler (Oil Fired) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 18: Global: Residential Boiler (Gas Fired) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 19: Global: Residential Boiler (Gas Fired) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 20: Global: Residential Boiler (Other Fuel Types) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 21: Global: Residential Boiler (Other Fuel Types) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 22: Global: Residential Boiler (Condensing) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 23: Global: Residential Boiler (Condensing) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 24: Global: Residential Boiler (Non-condensing) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 25: Global: Residential Boiler (Non-condensing) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 26: North America: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 27: North America: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 28: United States: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 29: United States: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 30: Canada: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 31: Canada: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 32: Asia-Pacific: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 33: Asia-Pacific: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 34: China: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 35: China: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 36: Japan: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 37: Japan: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 38: India: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 39: India: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 40: South Korea: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 41: South Korea: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 42: Australia: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 43: Australia: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 44: Indonesia: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 45: Indonesia: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 46: Others: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 47: Others: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 48: Europe: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 49: Europe: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 50: Germany: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 51: Germany: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 52: France: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 53: France: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 54: United Kingdom: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 55: United Kingdom: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 56: Italy: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 57: Italy: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 58: Spain: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 59: Spain: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 60: Russia: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 61: Russia: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 62: Others: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 63: Others: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 64: Latin America: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 65: Latin America: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 66: Brazil: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 67: Brazil: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 68: Mexico: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 69: Mexico: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 70: Others: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 71: Others: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 72: Middle East and Africa: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
- Figure 73: Middle East and Africa: Residential Boiler Market: Breakup by Country (in %), 2023
- Figure 74: Middle East and Africa: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 75: Global: Residential Boiler Industry: SWOT Analysis
- Figure 76: Global: Residential Boiler Industry: Value Chain Analysis
- Figure 77: Global: Residential Boiler Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Residential Boiler Market: Key Industry Highlights, 2023 and 2032
- Table 2: Global: Residential Boiler Market Forecast: Breakup by Type (in Million US$), 2024-2032
- Table 3: Global: Residential Boiler Market Forecast: Breakup by Fuel Type (in Million US$), 2024-2032
- Table 4: Global: Residential Boiler Market Forecast: Breakup by Technology (in Million US$), 2024-2032
- Table 5: Global: Residential Boiler Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 6: Global: Residential Boiler Market: Competitive Structure
- Table 7: Global: Residential Boiler Market: Key Players
