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North America & Europe Electric Boiler Market Trends

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

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North America & Europe Electric Boiler MarketTrends

Stringent government regulations aimed at reducing carbon emissions and improving energy efficiency have compelled regulators to establish strict norms, which in turn will favor the business scenario. These systems offer significant advantages, such as reduced energy costs, increased comfort, and low operational expenses, driving the industry growth. Furthermore, the ongoing refurbishment of existing infrastructures coupled with changing consumer preferences toward modular boiler systems will augment the market outlook.

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.