Global Residential Boiler Market Overview
According to SPER Market Research, the Global Residential Boiler Market is estimated to reach USD 13.60 billion by 2032 with a CAGR of 5.43%.
A residential boiler is a type of heating equipment that creates heat for water heating and space heating uses. It can be utilised in commercial applications by expanding its capacity. In general, residential boiler systems are hot water boiler systems. Natural gas is the most often utilised fuel in household boilers. Propane is an alternate fuel if natural gas is not accessible and is more expensive when compared to natural gas. Domestic boilers are often used to heat water for bathing and cooking. Condensing and non-condensing technologies are both employed in home boiler systems.
The rise in demand for space and water heating systems, as well as tight government limits on carbon emissions, will be the primary drivers of residential boiler market development throughout the projected period. Nevertheless, high manufacturing, maintenance, and installation costs, as well as an increase in the usage of renewable technologies in home heating, are expected to hinder the growth of the residential boiler market over the forecast period. Also, the rise of new construction projects in regions with more extreme weather will also support the expansion of the residential boiler industry.
The demand for intelligent and energy-efficient boilers has significantly increased on the worldwide residential boiler market in recent years. Growing environmental concerns and the need to lower energy prices are the main factors driving this trend. As they enable more management and heating system optimization, smart boilers with sophisticated controls and features like remote monitoring and self-diagnostics have grown in popularity. Moreover, boilers that use less energy and emit less greenhouse gases have become increasingly popular. The usage of alternative energy sources, such solar and geothermal, to power domestic boilers has also come under increased scrutiny. Due to this, hybrid boilers that can work with these renewable energy sources have been developed. Overall, the global residential boiler market is witnessing a shift towards smarter, more efficient, and more sustainable heating solutions.
Impact of COVID-19 on the Global Residential Boiler Market
The global residential boiler market has been significantly impacted by the COVID-19 pandemic. Positive and negative effects have both had an impact on the market. On the one hand, the pandemic's spike in the number of individuals staying at home has increased demand for domestic boilers. Residential boiler demand has grown as more individuals work from home and spend more time at home, which has raised demand for heating and hot water. Furthermore, the installation of energy-efficient boilers has been promoted by government stimulus programmes and incentives, fueling the market's expansion.
On the other hand, the pandemic has also caused supply-chain disruptions, which have had an impact on the manufacturing and distribution of home boilers. Lockdowns and limitations on the movement of persons and products have slowed deliveries of parts and equipment, which has resulted in a lack of supply. The pandemic has also resulted in a decrease in remodeling and new construction projects, which has had an impact on the demand for residential boilers.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Type Tube, By Capacity, By Fuel, By Technology.
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| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
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| Companies Covered | Ariston Thermo S.p.A, Bradford White Corporation, Burnham Holdings, Ferroli S.p.A, Lennox International, Noritz Corporation, Robert Bosch GmbH, Slant/Fin Corporation, SPX Corporation, Viessmann Manufacturing Company, Inc, Vaillant Group.
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Target Audience:
- Healthcare Sector
- Educational Institution
- Offices
- Hospitality
- Others
Global Residential Boiler Market Segmentation:
1. By Type Tube:
- Electric Tube
- Fire Tube
- Water Tube
2. By Technology:
3. By Fuel:
- Coal Fired
- Oil Fired
- Gas Fired
4. By Capacity:
- Below 24kW
- 24kW to 35kW
- Above 35kW
5. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Size of Global Residential Boiler Market (FY’2019-FY’2032)
- Overview of Global Residential Boiler Market
- Segmentation of Global Residential Boiler Market By Type Tube (Electric Tube, Fire Tube, Water Tube)
- Segmentation of Global Residential Boiler Market By Technology (Condensing, Non-Condensing)
- Segmentation of Global Residential Boiler Market By Fuel (Coal Fired, Oil Fired, Gas Fired, Others)
- Segmentation of Global Residential Boiler Market By Capacity (Below 24kW, 24kW to 35kW, Above 35kW)
- Statistical Snap of Global Residential Boiler Market
- Growth Analysis of Global Residential Boiler Market
- Problems and Challenges in Global Residential Boiler Market
- Competitive Landscape in the Global Residential Boiler Market
- Impact of COVID-19 and Demonetization on Global Residential Boiler Market
- Details on Recent Investment in Global Residential Boiler Market
- Competitive Analysis of Global Residential Boiler Market
- Major Players in the Global Residential Boiler Market
- SWOT Analysis of Global Residential Boiler Market
- Global Residential Boiler Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1.2. Market segment analysis
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.2. COVID-19 Impacts of the Global Residential Boiler Market
5. Market variables and outlook
5.2.1 Political landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
6.1 Global Residential Boiler Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Residential Boiler Market
7. Global Residential Boiler Market, By Type Tube 2019-2032 (USD Million)
8. Global Residential Boiler Market, By Technology, 2019-2032 (USD Million)
9. Global Residential Boiler Market, By Fuel, 2019-2032 (USD Million)
10. Global Residential Boiler Market, By Capacity, 2019-2032 (USD Million)
11. Global Residential Boiler Market, By Region, 2019-2032 (USD Million)
11.1 Global Residential Boiler Market Size and Market Share by Region (2019-2025)
11.3.6 Rest of Asia-Pacific
11.5 Middle East and Africa
11.5.1 Kingdom of Saudi Arabia
11.5.2 United Arab Emirates
11.5.3 Rest of Middle East & Africa
11.7.3 Rest of Latin America
12.1 Ariston Thermo S.p.A
12.1.4 Recent developments
12.2 Bradford White Corporation
12.2.4 Recent developments
12.3.4 Recent developments
12.4.4 Recent developments
12.5 Lennox International
12.5.4 Recent developments
12.6.4 Recent developments
12.7.4 Recent developments
12.8 Slant/Fin Corporation
12.8.4 Recent developments
12.9.4 Recent developments
12.10 Viessmann Manufacturing Company
12.10.2 Financial outlook
12.10.4 Recent developments
12.11.2 Financial outlook
12.11.4 Recent developments
13.List of Abbreviations
14.Reference Links
15.Conclusion
16.Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
