North America & Europe Electric Boiler Market Analysis

North America & Europe Electric Boiler Market Analysis

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The residential electric boiler industry size will witness growth rate of 10.7% till 2032. The sector is expected to experience significant growth due to the increasing demand for energy-efficient heating systems and efforts towards energy conservation. The requirement of efficient heating units driven by legislative measures and the replacement of existing systems will contribute to the North America & Europe electric boiler market outlook. Moreover, the need for space heating and hot water systems in cold climatic regions will further boost the product penetration.

The industrial electric boiler sector will witness a steady growth on account of rising industrialization and investments toward the expansion of manufacturing facilities. These units find wide applications across medium scale industries to generate steam for process heating and are majorly deployed across chemical and food processing units. The market for commercial electric boiler is set to surpass USD 5 billion by 2032.

The low voltage electric boiler market captured 75% of the business share in 2022. These boiler systems are compact and require very less maintenance, reducing the overall expense of the operating the system. However, these units offer low emissions and residues when compared to conventional boilers, thereby augmenting their acceptance across wide tandem of applications. Increasing demand for replacement of inefficient heating technologies with advanced heating technologies will positively sway the boiler industry growth.

The > 50 - 100 MMBtu/hr capacity electric boiler market crossed valuation of USD 300 million in 2022. Wide scale utilization of these units across healthcare facilities, retail stores, primary metal manufacturing, pulp industries, and refineries will drive the market development. The growing demand for food processing units, driven by evolving consumer preferences and increasing disposable incomes, will contribute to the wider espousal of these boilers.

The North America electric boiler market is estimated to amass USD 1.5 billion by 2032. The sector will experience significant growth due to the increased investments toward infrastructure development and implementation of strict emission regulations. The involvement of private companies, as well as federal and state governments, in the expansion and development of industrial facilities, will augment the business scenario. The ongoing expansion of infrastructure, driven by the growing construction industry will garner the product demand. Moreover, the increasing demand of space heating in medium and large-scale industries will further contribute to the business progression.