Electric Boiler Market Size & Share 2026-2035
Electric Boiler Market Size – By Capacity (≤ 10 MMBtu/hr, > 10–50 MMBtu/hr, > 50–100 MMBtu/hr, > 100–250 MMBtu/hr, > 250 MMBtu/hr), By Voltage Rating (Low Voltage, Medium Voltage), By Application (Residential, Commercial, Industrial) - Growth Forecast. The market forecasts are provided in terms of revenue (USD) & volume (Units).
Report ID: GMI5448
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Published Date: June 2026
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Report Format: PDF
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Authors:
Ankit Gupta, Shubham Chaudhary
Electric Boiler Market Size
The electric boiler market was estimated at USD 10.6 billion in 2025. The market is expected to grow from USD 12.1 billion in 2026 to USD 32.4 billion by 2035, at a CAGR of 13.2%, according to a recent study by Global Market Insights Inc.
Electric Boiler Market Key Takeaways
Market Size & Growth
Regional Dominance
Key Market Drivers
Challenges
Opportunity
Key Players
The growing need for energy efficient heating systems along with increasing government incentives will proliferate the business landscape. The advancement of large capacity electric boilers considering global decarbonization trends and stringent emission standards of NOx and SOx emissions from the industrial regions will drive the business environment.
An electric boiler is a heating system that utilizes electrical energy to heat water or generate steam for commercial, residential, or industrial applications. They function without the use of combustion, hence offering silent operations, compact design, and easy maintenance. The major uses of this system are mainly space heating, water heating, and process heating with high energy efficiency.
For instance, in February 2024, the governments of Canada and Newfoundland and Labrador launched an initiative worth USD 24 million to enable homeowners to make a shift from fuel-based to electrical heating systems. Under the program, the eligible homeowner will get up benefit up to USD 22,000 as joint incentives, making the installation affordable.
Electric Boiler Market Trends
Increasing costs for energy production and the importance of efficiency in operations are prompting industries to reconsider their energy-heating system requirements. They offer an advantage in terms of integrating well with alternative energy systems as well as intelligent grid systems, which supports consumers maximize energy usage while keeping down total cost of ownership of the equipment. Additionally, ongoing investment in sustainable infrastructure to meet the needs of an increasingly urbanized population will boost product demand.
Electric Boiler Market Analysis
The low voltage electric boiler market will reach over USD 20 billion by 2035. The smaller capacity systems are ideal for distributed heating in cases including light manufacturing, food production, pharmaceuticals, healthcare facilities, and district energy loop subsystems where flexibility is important. These have the advantage of quick startups and offer very accurate control by means of staged or modulated heating elements. In addition, the majority of these operate silently with no emissions on site, and this will improve business prospects.
The residential electric boiler market holds a share of 83.1% in 2025. Growing investments in retrofit programs in residential homes, upgrades to existing backup power and energy systems, for upgrading existing inefficient and old-fashioned heating facilities with modern electric boilers will fuel the business growth. The trend of switching from fossil fuels towards electricity in residential buildings will positively influence the business outlook.
U.S. electric boiler market was estimated at USD 502.4 million in 2025. Rising industrial activity in conjunction with continuous progress in heating technologies will bolster business scenario. Moreover, reviving economic momentum led by rapid industrial expansion and rising capital investments in manufacturing infrastructure will encourage product deployment.
For instance, industrial output in the U.S. registered an increase in growth rate by 1.4 percent from the corresponding period last year in April 2026. This growth rate denotes a strong performance in the industrial sector owing to sustained demand environment along with utilization of capacity.
The Europe market experiences significant growth on account of growing government mandates for building electrification. Increasing smart city initiatives in tandem with modernization of healthcare facilities will positively influence the business dynamics. Additionally, government expenditure on R&D to introduce low-carbon industrial heating will elevate the industry trajectory.
Electric Boiler Market Share
The electric boiler industry exhibits moderate consolidation but has a geographically fragmented competitive structure, in which international companies operate alongside small local companies. International companies dominate high-end markets owing to their diversified product line of electric boilers, hybrid systems, and thermal systems, while regional companies manage to compete through the satisfaction of local demand.
Electric Boiler Market Companies
Major players operating in the electric boiler industry are:
ALFA LAVAL
Acme Engineering Products
Atlantic Boilers
Babcock Wanson
Bosch Industriekessel
Bradford White
Chromalox
Cleaver-Brooks
Danstoker
Ferroli
Flexiheat UK
Fulton
Hi-Therm Boilers
Laars Heating Systems
Lochinvar
P.M. Lattner Manufacturing
Parat Halvorsen
Precision Boilers
Thermodyne Boilers
Thermon
Vattenfall
Viessmann
Market Share of 9.5%
Collective Market Share of 38.5%
Electric Boiler Industry News
In June 2025, ALFA LAVAL strengthened its position within the heating sector using more sophisticated electric boilers that offer fuel flexibility. This equipment supports the ships utilize electric power efficiently using shore connection power. Moreover, the development of such boilers is aligned with global regulatory requirements regarding the protection of the environment, as well as the growth of OPS terminals at ports.
In February 2025, Cleaver-Brooks introduced the LVR electric hydronic boiler that is designed for providing energy efficiency close to 100 percent without any emissions at the site of operation. The LVR is developed using modular design which makes it possible for easy integration with renewable energy sources. Furthermore, the power output of the LVR varies from 90 to 540 kW while it is controlled by a PLC system.
The electric boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) and volume (Units) from 2022 to 2035, for the following segments:
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Market, By Capacity
≤ 10 MMBtu/hr
> 10 - 50 MMBtu/hr
> 50 - 100 MMBtu/hr
> 100 - 250 MMBtu/hr
> 250 MMBtu/hr
Market, By Voltage Rating
Low voltage
Medium voltage
Market, By Application
Residential
Commercial
Offices
Healthcare facilities
Educational institutions
Lodgings
Retail stores
Others
Industrial
Food processing
Pulp & paper
Chemical
Refinery
Primary metal
Others
The above information has been provided for the following region & countries:
North America
U.S.
Canada
Mexico
Europe
France
UK
Poland
Italy
Spain
Austria
Germany
Sweden
Russia
Asia Pacific
China
India
Philippines
Japan
South Korea
Australia
Indonesia
Middle East & Africa
Saudi Arabia
Iran
UAE
Nigeria
South Africa
Latin America
Argentina
Chile
Brazil
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →