Residential Boiler Market Size- By Type Tube, By Capacity, By Fuel, By Technology- Regional Outlook, Competitive Strategies and Segment Forecast to 2032

Global Residential Boiler Market Overview

According to SPER Market Research, the Global Residential Boiler Market is estimated to reach USD 13.60 billion by 2032 with a CAGR of 5.43%.

A residential boiler is a type of heating equipment that creates heat for water heating and space heating uses. It can be utilised in commercial applications by expanding its capacity. In general, residential boiler systems are hot water boiler systems. Natural gas is the most often utilised fuel in household boilers. Propane is an alternate fuel if natural gas is not accessible and is more expensive when compared to natural gas. Domestic boilers are often used to heat water for bathing and cooking. Condensing and non-condensing technologies are both employed in home boiler systems.

The rise in demand for space and water heating systems, as well as tight government limits on carbon emissions, will be the primary drivers of residential boiler market development throughout the projected period. Nevertheless, high manufacturing, maintenance, and installation costs, as well as an increase in the usage of renewable technologies in home heating, are expected to hinder the growth of the residential boiler market over the forecast period. Also, the rise of new construction projects in regions with more extreme weather will also support the expansion of the residential boiler industry.

The demand for intelligent and energy-efficient boilers has significantly increased on the worldwide residential boiler market in recent years. Growing environmental concerns and the need to lower energy prices are the main factors driving this trend. As they enable more management and heating system optimization, smart boilers with sophisticated controls and features like remote monitoring and self-diagnostics have grown in popularity. Moreover, boilers that use less energy and emit less greenhouse gases have become increasingly popular. The usage of alternative energy sources, such solar and geothermal, to power domestic boilers has also come under increased scrutiny. Due to this, hybrid boilers that can work with these renewable energy sources have been developed. Overall, the global residential boiler market is witnessing a shift towards smarter, more efficient, and more sustainable heating solutions.

Impact of COVID-19 on the Global Residential Boiler Market

The global residential boiler market has been significantly impacted by the COVID-19 pandemic. Positive and negative effects have both had an impact on the market. On the one hand, the pandemic's spike in the number of individuals staying at home has increased demand for domestic boilers. Residential boiler demand has grown as more individuals work from home and spend more time at home, which has raised demand for heating and hot water. Furthermore, the installation of energy-efficient boilers has been promoted by government stimulus programmes and incentives, fueling the market's expansion.

On the other hand, the pandemic has also caused supply-chain disruptions, which have had an impact on the manufacturing and distribution of home boilers. Lockdowns and limitations on the movement of persons and products have slowed deliveries of parts and equipment, which has resulted in a lack of supply. The pandemic has also resulted in a decrease in remodeling and new construction projects, which has had an impact on the demand for residential boilers.

Scope of the Report:

Report Metric Details

Market size available for years 2019-2032

Base year considered 2021

Forecast period 2022-2032

Segments covered By Type Tube, By Capacity, By Fuel, By Technology.

Regions covered Asia-Pacific, Europe, Middle East and Africa, North America, Latin America

Companies Covered

Ariston Thermo S.p.A, Bradford White Corporation, Burnham Holdings, Ferroli S.p.A, Lennox International, Noritz Corporation, Robert Bosch GmbH, Slant/Fin Corporation, SPX Corporation, Viessmann Manufacturing Company, Inc, Vaillant Group.

Global Residential Boiler Market Segmentation:

By Type Tube: Based on the Type Tube, Global Residential Boiler Market is segmented as; Electric Tube, Fire Tube, Water Tube.

By Technology: Based on the Technology, Global Residential Boiler Market is segmented as; Condensing, Non-Condensing

By Region: The Asia-Pacific area generates the most money. This is due to economies such as China, India, Japan, South Korea, and Australia making efforts to reduce greenhouse gas emissions, increasing investment in green buildings, and adopting efficient heating products, which are expected to fuel the growth of the Asia-Pacific residential boiler market in the coming years.