Commercial Electric Boiler Market Analysis

Commercial Electric Boiler Market Analysis

In terms of voltage rating, the low voltage segment held over 70% of the commercial electric boiler market share in 2022 as a result of supportive legislative directives to minimize greenhouse gas emissions and increased adoption of low-emission heating systems. Similarly, substantial energy efficient codes and standards to promote energy efficiency are further influencing technological adoption.

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Commercial electric boiler market size from ≤ 0.3 - 2.5 MMBtu/hr capacity segment accounted for around USD 150 million in 2022. Notable government efforts to control carbon emissions across varied sectors are elevating the demand for these boilers. Furthermore, supportive measures to achieve energy optimization, coupled with several beneficial attributes of these boilers viz., energy-effective, increased comfort, and low operational costs, are stimulating the uptake of these units.
 

Based on product, the steam segment is expected to surpass USD 2 billion by 2032. This growth is attributed to the advantageous features of steam electric boilers, such as low emissions, quick start-up & shutdown, and silent operation. The increasing compliance requirements for emissions to limit the carbon footprint, along with encouraging government schemes & investments toward the adoption of clean technologies.
 

In terms of application, the commercial electric boiler market from offices segment is slated to record nearly 15% growth rate between 2023 and 2032. The growing urbanization rate, coupled with the implementation of stringent emission norms, is providing lucrative opportunities for the market in offices. Moreover, publicly traded firms and private players are investing sizably in enhancing working spaces, which is significantly fueling product deployment.
 

Europe commercial electric boiler market hold more than 50% of the revenue share in 2022. The positive consumer inclination, along with favorable environmental efforts to promote the installation of efficient & reliable heating units is pushing the demand for commercial electric boilers. Additionally, booming urbanization and robust investments across the commercial sector are foreseen to positively influence the business dynamics in the region.