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North America Residential Boiler Market Trends

Report ID: GMI5334
Published Date: Jun 2023
Report Format: PDF

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North America Residential Boiler Market Trends

The increasing demand for power and the widespread use of heat-generating sources are leading to a transformation in traditional boiler technology, which in turn will fuel the product penetration. The countries with high energy consumption are actively seeking alternative energy-efficient products to comply with emission regulations. These policies not only aim to reduce emissions but also enhance energy security and independence by meeting the growing demand for heat. This scenario is creating a favorable market environment with significant business opportunities in the residential boiler industry.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size for residential boiler in North America surpassed USD 2.2 billion in 2023 and is estimated to surpass USD 3.6 billion by 2032, driven by the increasing demand for energy-efficient solutions, and shifting focus on reducing carbon emissions.

The electric residential boiler segment held over USD 300 million in 2022, backed by the continuous investments in residential infrastructure development, coupled with the ongoing trend of replacing conventional heating units with energy-efficient boilers.

The U.S. market is set to surpass USD 2.5 billion by 2032. Numerous residential construction projects, along with development of green buildings will drive the industry growth.

Lennox International, PB HEAT, HTP, VIESSMANN, Bradford White Corporation, Weil-McLain, U.S. Boiler Company, A.O. Smith, Triangle Tube, Granby Industries, Thermo-Dynamics Boiler Company, Baxi North America, Camus Hydronics and King Heating Products.