North America Residential Boiler Market Analysis

North America Residential Boiler Market Analysis

The North America residential boiler market from condensing technology is set to grow at 6.1% CAGR through 2032. These boilers are designed to maximize energy efficiency by recovering heat from the flue gases, resulting in reduced greenhouse gas emissions. The introduction of favorable initiatives by governments, such as tax incentives and rebates, will significantly impact the demand for residential boilers. Compact size along with no hot water tank requirement are some of the key paramount features, which will fuel the deployment of these heating systems.
 

The residential electric boiler market size was reached USD 300 million in 2022, owing increasing consumer focus toward sustainability and carbon footprint reduction. The continuous investments in residential infrastructure development, coupled with the ongoing trend of replacing conventional heating units with energy-efficient boilers will augment the business landscape.
 

Gas fired boiler industry held a market share of over 65% in 2022, on account of growing adoption of green technologies and increasing consumer shift toward cleaner and more environmentally solutions. Stringent government regulations focusing on the adoption of energy-efficient and low-emission heating solutions will foster the industry outlook.
 

The U.S. boiler market share will surpass USD 2.5 billion by 2032. Flourishing residential sector along with robust development of green buildings will drive the industry growth. The government is actively introducing favorable initiatives, including rebates and tax incentives, to promote the establishment of a sustainable environment for the future. The increasing emphasis on curbing greenhouse gas (GHG) emissions and promoting energy conservation will further foster the North America residential boiler market potential.
 

The Canada boiler market is anticipated to experience notable growth till 2032, owing to growing demand for energy-efficient heating solutions driven by environmental concerns and government regulations. Increasing investments in residential construction and renovation activities coupled with the rising trend of smart homes will boost market growth. Furthermore, the replacement of conventional heating systems in line with increasing demand for retrofitting projects will contribute to fuel the business potential. The European market for residential boiler is estimated to cross USD 84.9 billion by 2032.