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North America & Europe Electric Boiler Market Size

Report ID: GMI5180
Published Date: Jun 2023
Report Format: PDF

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North America & Europe Electric Boiler Market size

North America & Europe Electric Boiler Market was valued at USD 7.7 billion in 2023 and is anticipated to grow at 11.4% CAGR from 2023 to 2032. The global market for electric boiler will cross a valuation of USD 28 billion by 2032.

North America & Europe Electric Boilers Market

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The industry will witness an upsurge owing to introduction of mandates to limit greenhouse gas (GHG) emissions and paradigm shift toward decarbonization. The adoption of efficient heating technologies along with shifting focus toward the development of zero-emission buildings will energize the business dynamics. The consumers usually prefer to install multiple boilers to improve reliability and save energy which in turn will augment the market statistics.

North America & Europe Electric Boiler Market Report Attributes
Report Attribute	Details
Base Year:	2023
North America & Europe Electric Boiler Market Size in 2023:	USD 7.7 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	11.4%
2032 Value Projection:	USD 20.7 Billion
Historical Data for:	2019 to 2023
No. of Pages:	280
Tables, Charts & Figures:	693
Segments covered:	Voltage Rating, Capacity, Application
Growth Drivers:	Positive outlook towards commercial and industrial sector Stringent government emission norms Growing demand for energy efficient boilers Flourishing residential sector
Pitfalls & Challenges:	High electricity cost

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Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of North America & Europe electric boiler crossed USD 7.7 billion in 2023 and will grow at 11.4% CAGR from 2024 to 2032, backed by the introduction of mandates to limit greenhouse gas (GHG) emissions and paradigm shift toward decarbonization.

The low voltage electric boiler industry in North America and Europe accounted for 75% share in 2022. These boiler systems are compact and require very less maintenance, reducing the overall expense of operating the system.

North America electric boiler industry is set to exceed USD 1.5 billion by 2032, due to the increased investments toward infrastructure development and the implementation of strict emission regulations.

Thermona, Cerney S.A, Thermon, Slant/Fin Corporation, ACV, Ferroli S.p.A, Danstoker A/S, The Fulton Companies, Lathrop Trotter, PARAT Halvorsen AS, Cleaver-Brooks, Vapor Power International, Precision Boilers, Acme Engineering Prod., and Chromalox among others.