North America Residential Boiler Market Size

North America Residential Boiler Market size

North America Residential Boiler Market size was valued at USD 2.2 billion in 2023 and is estimated to expand at over 6% CAGR from 2024 to 2032.  A residential boiler is a heating appliance designed to provide warmth and hot water to homes. It operates by heating water, which is then circulated through pipes and radiators or underfloor heating systems to distribute heat throughout the house. The boiler typically burns a fuel source, such as gas, oil, or electricity to generate the necessary heat. The heated water returns to the boiler to be reheated, creating a continuous cycle of heating and circulating water for home comfort and domestic hot water needs.

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The residential boiler market is set to cross USD 139.8 billion by 2032, driven by the increasing demand for energy-efficient solutions and paradigm shift to reduce carbon emissions. Rising demand for these boilers in both single and multi-apartment residential segments will positively impact the business landscape. These systems offer benefits such as reduced energy costs, enhanced comfort, and lower operational expenses, which in turn will favor the industry scenario.