North America & Europe Electric Boiler Market Size - By Capacity, By Voltage Rating, By Application, Growth Forecast, 2025 - 2034

North America & Europe Electric Boiler Market Size

According to a recent study by Global Market Insights Inc., the North America & Europe electric boiler market was estimated at USD 8.7 billion in 2024. The market is expected to grow from USD 9.9 billion in 2025 to USD 24.7 billion by 2034, at a CAGR of 10.6%.

• Growing demand for energy-efficient heating solutions in tandem with expanding government incentives will proliferate the business scenario. The development of high-capacity electric boilers in line with global decarbonization efforts and tightening NOx and SOx emission regulations in industrial zones will stimulate the business dynamics.
   
• An electric boiler is a heating system that uses electrical energy to heat water or generate steam for wide multitude of application areas. Unlike traditional boilers, they operate without combustion, offering quiet operation, compact design, and minimal maintenance. Its primary functions include space heating, hot water supply, and process heating, with high energy efficiency and precise temperature control.
   
• For illustration, in February 2024, the Governments of Canada and Newfoundland and Labrador announced a USD 24 million investment to support the transition from oil to electric heating systems. All eligible homeowners can receive up to USD 22,000 in combined incentives, making electric boilers and heat pumps fully accessible.
   
• The North America & Europe electric boiler market was valued at USD 5.1 billion in 2021 and grew at a CAGR of approximately 6% through 2024. Rising public and private sector investments in the healthcare industry will escalate business opportunities. The development of new hospitals, clinics, and nursing homes along with the modernization of existing facilities to expand patient capacity will fuel the business scenario.
   
• Accelerated industrial expansion across major economies in tandem with rising investments in energy infrastructure will drive the business momentum. Increasing R&D activity in boiler technologies in association with the ongoing transition from oil to electric heating systems will further strengthen the business outlook.
   
• For instance, in July 2023, the government of Canada allocated approximately USD 9 million to three Ontario universities under the Decarbonization Incentive Program to support low-carbon infrastructure upgrades. A major portion of this funding enables McMaster and Western Universities to replace natural gas systems with electric boilers, significantly reducing campus emissions.
   
• The growing preference for silent, zero-emission heating solutions coupled with increasing demand energy-efficient boiler will positively influence the business potential. Technological advancements in power generation and enhancements in grid infrastructure along with the development of compact, high-efficiency electric boilers will further accelerate product adoption.
   

North America & Europe Electric Boiler Market Trends

• Rising energy costs and the need for operational efficiency are prompting industries to re-evaluate their heating infrastructure. Their ability to integrate seamlessly with renewable energy sources and smart grid technologies enhances their appeal, enabling users to optimize energy consumption and reduce total cost of ownership over the equipment’s lifecycle, which in turn will drive the business growth.
   
• Continued investments in sustainable infrastructure to support the expanding urban population will elevate product demand. Elevated living standards, increasing discretionary spending, and growing preference for energy-efficient heating technologies are among the key drivers anticipated to boost residential boiler installations.
   
• For instance, in 2023, Germany’s government finalized a heating law offering subsidies of up to 70% for low-income households that switch from gas or oil to climate-friendly systems, such as electric boilers, before 2028. This initiative promotes technological neutrality and social equity while accelerating the country’s transition to climate-neutral building heating.
   
• Rapid advancements in heating technology are transforming electric boilers into intelligent, high-performance systems. Features such as real-time energy monitoring, automated load balancing, and IoT-enabled diagnostics are making these systems more adaptive and efficient.
   
• These advancements are particularly valuable in urban environments where energy demand is dynamic, and efficiency is paramount. The shift toward connected, data-driven heating solutions is reinforcing the role of electric boilers in future-ready infrastructure. Moreover, development of compact, high-output units will accelerate the product adoption.
   
• For citation, in 2023, the U.S. consumed approximately 94 quadrillion Btu of primary energy, highlighting the immense demand across residential, commercial, and industrial sectors. This scale of consumption emphasizes the need for highly efficient technologies such as electric boilers that can optimize energy use and reduce operational costs.
   
• Tightening emission regulations and increased governmental emphasis on deploying energy-efficient boiler systems will strengthen market growth. Launch of supportive policy frameworks and financial assistance programs aimed at promoting sustainable heating technologies will fuel the industry trajectory.
   
• National and regional governments are implementing supportive frameworks, including tax benefits, low-interest financing, and direct subsidies for energy-efficient heating systems. These measures are designed to reduce the upfront investment burden and encourage widespread deployment across residential, commercial, and industrial sectors.
   
• For instance, in July 2024, the European Commission issued guidance mandating EU countries to end financial incentives for installing new stand-alone fossil fuel boilers by January 1, 2025. This includes subsidies, tax breaks, and loans, regardless of project type. The directive promotes cleaner alternatives including electric boilers, aligning with the EU’s climate and energy efficiency goals.
   

North America & Europe Electric Boiler Market Analysis

• Based on capacity, the industry is segmented into ≤ 10 MMBtu/hr, > 10 - 50 MMBtu/hr, > 50 - 100 MMBtu/hr, > 100 - 250 MMBtu/hr and > 250 MMBtu/hr. The ≤ 10 MMBtu/hr capacity electric boiler market holds a share of about 80% in 2024 and is projected to grow at a growth rate of over 9.5% through 2034. This capacity range is well-suited for mid-sized commercial establishments including hospitals, hotels, and retail complexes.
   
• The > 10 - 50 MMBtu/hr capacity witnessing steady demand owing to its ability to deliver high-output heating with minimal emissions aligns with corporate sustainability initiatives and regulatory mandates. Moreover, these units offer precise temperature control and high efficiency, which are essential for maintaining product quality and operational consistency.
   
• For instance, in 2023, ACV introduced the EVO S series of steel wall-hung boilers, replacing the Prestige line with enhanced performance and flexibility. Available in seven models from 40 to 150 kW, the series features high-efficiency stainless steel plate heat exchangers. Optional low-height frame and header kits enable cascading configurations exceeding 900 kW, making the EVO S ideal for large-scale or complex heating applications.
   
• The > 50 - 100 MMBtu/hr electric boiler segment is set to exceed USD 1.2 billion by 2034. Electric boilers in this segment are often deployed in modular configurations, allowing facilities to adjust heating capacity based on seasonal or operational needs. This flexibility supports cost control and energy optimization, making them attractive for facilities with fluctuating heating demands.
   
• The > 100 - 250 MMBtu/hr electric boiler segment was valued at over USD 145 million in 2024. Stricter regulatory frameworks aimed at curbing reliance on fossil fuels combined with a range of fiscal incentives supporting clean heating technologies will foster the business landscape. Furthermore, the space-saving design and minimal upkeep requirements of these systems are set to enhance their industrial viability.
   
• For instance, in February 2024, Germany reaffirmed its national commitment to achieving net-zero emissions by 2045, as mandated by its parliament, federal government, and constitutional court. This strategic pledge emphasizes the country’s focus on improving energy efficiency and reducing demand across key sectors such as industry, transport, and buildings. It reflects a long-term policy aimed at optimizing resource use while maintaining economic competitiveness.
   
• Electric boilers with capacities > 250 MMBtu/hr are primarily used in heavy industries including chemical, pulp and paper, and refinery. These sectors require robust heating systems capable of handling continuous, high-load operations. Additionally, their ability to operate without direct emissions and integrate with renewable power sources will foster the industry outlook.

• Based on application, the industry is divided into residential, commercial and industrial. The residential application market holds a share of 85.4% in 2024 and is set to reach over USD 18 billion by 2034. The rising volume of newly constructed residential units, driven by ongoing population expansion and increasing disposable income will fuel the demand for advanced energy-efficient heating solutions.
   
• Commercial segment was estimated at over USD 1 billion in 2024. Increasing retrofitting initiatives across educational facilities, including schools and colleges, aimed at replacing outdated and inefficient heating systems with modern electric boiler units will drive business expansion. A growing number of office buildings and commercial facilities are transitioning to electrified HVAC systems to reduce reliance on fossil fuels, which will further stimulate business landscape.
   
• For instance, in 2023, the UK government committed over USD 60 million to stimulate investment in the commercial real estate sector, aiming to modernize infrastructure and enhance energy efficiency across properties. This funding supports upgrades in heating systems, building automation, and sustainable design, helping property owners meet rising demand while improving operational performance and long-term asset value.
   
• The industrial electric boiler market is set to grow at a rate of 13.5% from 2025 to 2034. The industry is witnessing substantial growth driven by increasing demand for clean and efficient process heating across manufacturing & production sector. The shift toward electrification in chemical processing coupled with increasing pressure to meet stringent environmental standards is accelerating the adoption of these boilers.
   
• For instance, in 2022, the U.S. led global chemical production, exporting over USD 494 billion in chemical products and accounting for more than 13% of total global output. This dominant market position highlights the strength of the U.S. chemical industry and its critical role in global supply chains.
   
• Based on voltage, the industry is divided into low voltage and medium voltage. The low voltage electric boiler industry will witness a CAGR of 10.5% through 2034. Rising demand for efficient, clean, and compact heating solutions will energize the business dynamics. These boilers operate at lower voltage ranges, making them ideal for facilities with limited power infrastructure while ensuring safe and reliable steam or hot water generation.
   
• Growing emphasis on electrification of heating systems to reduce carbon emissions, along with supportive regulations promoting renewable integration will boost the product adoption. Additionally, their compact design, ease of installation, and low maintenance requirements compared to conventional fuel-based boilers make them increasingly attractive for small- to medium-scale operations.
   
• The medium voltage electric boiler market is gaining traction as industries and commercial facilities seek high-capacity, efficient, and environmentally friendly alternatives to conventional fossil fuel-based boilers. Their ability to integrate seamlessly with renewable power sources and energy storage systems supports decarbonization goals, while reducing reliance on natural gas or coal, driving the industry potential.
   

• The U.S. dominated the electric boiler market in North America with around 82% share in 2024 and generated USD 563.7 million in revenue. Partnerships between private developers and federal or state authorities to expand residential and commercial infrastructure will propel the business growth.
   
• For instance, in July 2023, the U.S. Department of Energy allocated USD 23.4 million to support carbon management initiatives across 16 projects in 14 states. The funding aims to advance technologies for carbon capture, transportation, and storage by supporting collaborative efforts among industry stakeholders. This investment reflects a strategic push to enhance technical capabilities and reduce industrial carbon footprints nationwide.
   
• The North America electric boiler market is projected to reach USD 2.2 billion by 2034. 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 the product deployment.
   
• The Canada electric boiler market will witness steady momentum owing to efforts to modernize heating systems in commercial places including schools, colleges, and universities. Development of compact, modular designs along with use of corrosion-resistant materials will accelerate the product demand.
   
• For illustration, in July 2023, Western University secured USD 4.8 million in federal funding to replace one of its natural gas boilers with a high-efficiency electric boiler. This upgrade will significantly reduce campus-wide carbon emissions while continuing to supply high-pressure steam for heating and hot water across university buildings and University Hospital. The project marks a major step toward Western’s goal of achieving net-zero emissions by 2050.
   
• The Europe electric boiler industry is set to grow at a rate of over 10% through 2034. Stringent carbon emission regulations coupled with the rising adoption of alternative heating technologies will escalate market penetration. Furthermore, the increasing deployment of on-site renewable energy solutions is poised to reshape the industry landscape.
   
• The UK electric boiler accounts for about 25% share of the European market. The industry 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 business trajectory.
   
• For instance, in 2023, the UK government launched a 10-year Modern Industrial Strategy to drive business investment across eight high-growth sectors. Supported by new capital from the British Business Bank, the strategy includes plans to increase annual R&D spending to USD 26.15 billion by 2029–30. This initiative aims to strengthen innovation, boost industrial competitiveness, and position the UK as a global leader in advanced technologies.
   

North America & Europe Electric Boiler Market Share

• The top 5 players in electric boiler market are Viessmann, Bosch Industriekessel, Babcock Wanson, Carrier and Alfa Laval contribute around 36% of the market share in 2024.
   
• The electric boiler market reflects a moderately consolidated landscape, featuring a regionally focused player. Competition is shaped by continuous technological innovation, tailored product solutions for diverse heating applications, and robust service and support networks. Key players differentiate themselves through energy-efficient designs, smart system integration, and strategic partnerships aimed at expanding market reach and enhancing customer value.
   
• Viessmann is one of the global leaders in heating solutions, offering advanced electric boilers that emphasize energy efficiency, digital integration, and sustainability. With strong innovation, the company supports residential and commercial electrification trends, aligning with global decarbonization goals and growing demand for eco-friendly heating technologies.
   
• Babcock Wanson specializes in electric boilers, delivering flexible, high-performance heating systems tailored to modern energy demands. With a focus on decarbonization, efficiency, and customer-centric solutions, the company supports industries adopting electrification and cleaner heating technologies across the global markets.
   
• Bosch Industriekessel is one of the key players in the electric boiler market, delivering high-efficiency solutions for industrial and commercial applications. Its advanced technologies focus on energy savings, digital control, and sustainability, supporting global electrification and stringent emission reduction regulations.
   
• Carrier is expanding its presence in the electric boiler market by integrating advanced heating technologies with energy-efficient designs. Focused on sustainability and smart building solutions, it supports residential and commercial sectors seeking reliable, eco-friendly, and cost-effective electrification alternatives.
   
• Alfa Laval leverages its expertise in heat transfer and energy optimization to deliver efficient electric boiler solutions. The company emphasizes sustainability, digital innovation, and decarbonization, helping industries transition toward cleaner heating technologies while ensuring operational reliability and reduced environmental impact.
   

North America & Europe Electric Boiler Market Companies

• In Q1 2025, Vattenfall reported net sales of USD 7.1 billion and an EBITDA of USD 1.4 billion, reflecting solid financial performance. The company also delivered 1.9 TWh of heat and generated 27.1 TWh of electricity, underscoring strong operational output across its energy portfolio. These results highlight Vattenfall’s capacity to meet growing energy demand while maintaining profitability.
   
• In 2024, Bosch Industriekessel parent company Robert Bosch, reported USD 100 billion in sales revenue and an EBIT margin of 3.5%, demonstrating strong operational resilience amid challenging market conditions. The company remains focused on driving innovation and enhancing operational efficiency to support long-term, sustainable growth across its industrial and technology divisions.
   
• In 2024, Alfa Laval reported strong financial performance with USD 6.3 billion in net sales and a 7% year-on-year increase in order intake, reaching USD 7.1 billion. Net income rose 16.5% to USD 705.6 million, reflecting enhanced profitability and operational efficiency. The company aims to further strengthen its market position by investing in advanced technologies, expanding global reach, and driving continuous improvement across its core business segments.
   

Major players operating in the North America & Europe electric boiler industry are:

• ALFA LAVAL
• ACV
• Ariston Holding
• Babcock Wanson
• Bosch Industriekessel
• Bradford White Corporation
• CARRIER
• Cerney
• Clayton Industries
• Cleaver-Brooks
• Danstoker
• Ecotherm Austria
• Ferroli
• Flexiheat UK
• FONDITAL
• Fulton
• Hi-Therm Boilers
• KOSPEL
• Lochinvar
• Precision Boiler
• STIEBEL ELTRON
• Thermon
• Thermona
• Vaillant Group
• Vapor Power International
• Vattenfall
• Viessmann
• WM Technologies
   

North America & Europe Electric Boiler Industry News

• In February 2025, Cleaver-Brooks unveiled the LVR electric hydronic boiler, designed to achieve nearly 100% energy efficiency with zero onsite emissions. Its modular design allows scalable deployment and smooth integration with renewable energy. Offering capacities from 90 to 540 kW, the LVR features advanced PLC controls, full modulation, and a compact footprint that simplifies installation, lowers operating costs, and boosts overall energy performance.
   
• In September 2024, Babcock Wanson launched the LV-Pack Low-Voltage Industrial Electric Boiler, an advanced solution addressing the rising need for sustainable and energy-efficient industrial heating. Combining high performance with low-voltage operation, it delivers a dependable, eco-friendly alternative to conventional fuel-based heating systems.
   
• In July 2024, Bradford White Corporation’s strategic acquisition of Heat-Flo expands its product portfolio, strengthening its position as a leading provider of comprehensive indirect water-heating solutions. This move highlights the company’s commitment to innovation and its focus on delivering high-performance, customer-driven, quality solutions.
   
• In May 2024, Lochinvar broadened its sustainable heating lineup by introducing LECTRUS, a light commercial electric boiler. Delivering 15 kW to 150 kW, LECTRUS meets diverse electric heating needs. Its flexible design promotes industry electrification and carbon reduction, providing a dependable, eco-friendly solution.
   

The North America & Europe electric boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) & volume (Units) from 2021 to 2034, 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 regions & countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • UK
  • Poland
  • Italy
  • Spain
  • Austria
  • Germany
  • Sweden
  • Russia