Residential Electric Boiler Market Size

Residential Electric Boiler Market Size

Residential Electric Boiler Market was valued at USD 8.7 billion in 2023 and is anticipated to expand at 11% CAGR from 2024 to 2032. The implementation of stringent government regulations pertaining to limiting carbon emissions across several economies will drive the industry growth.

There has been a commendable shift in consumer focus toward installing sustainable equipment. Besides, several governments and regulatory authorities globally have been emphasizing adopting sustainable, low-emission alternatives to ease the environmental impact. For instance, the European Union has enacted several policies to curb energy consumption and GHG emissions. Residential electric boiler technology features low NOx emission, better DHW performance, and improved monitoring & controlling. In addition, it provides contractors and homeowners with easy serviceability, which will favor its espousal by 2032.
 

However, the consistent rise in global population and accelerating rate of urbanization has paved the way for several infrastructural investments focused on developing sustainable building infrastructure. These investments, in line with the increasing deployment of energy-efficient heating systems across residential and commercial spaces, will carve a healthy growth trajectory for the residential electric boiler market.
 

The availability of several alternative technologies may limit product uptake in the coming years. Moreover, several factors, such as rising disposable incomes, improving living standards, and increasing government investments in advanced heating technologies, will propel product sales during 2023-2032.