Residential Boiler Market
Residential Boiler Market Forecasts to 2030 - Global Analysis By Type (Water Tube, Fire Tube, System Boilers, Electric Boilers, Oil Boilers, Gas Boilers and Other Types), Technology (Condensing, Non Condensing and Other Technologies) and By Geography
According to Stratistics MRC, the Global Residential Boiler Market is accounted for $8.7 billion in 2023 and is expected to reach $14.2 billion by 2030 growing at a CAGR of 7.2% during the forecast period. Boilers are heating appliances that generate hot water or steam to provide warmth for residential spaces, such as homes and apartments. These systems play a crucial role in central heating by efficiently distributing heat throughout a building. Boilers in residential settings offer a reliable and efficient means of space heating and hot water supply, contributing to the overall comfort and well-being of individuals and families. These systems are versatile, capable of utilizing various fuel sources, including natural gas, oil, and electricity, catering to diverse consumer preferences and regional energy infrastructures.
According to Commission for Air Quality Management (CAQM), industries cannot use bio-mass fuel over 80mg/Nm3 in boilers, and they should limit emissions to 50mg/Nm3.
Market Dynamics:
Driver:
Increasing awareness of indoor air quality
As consumers increasingly prioritize healthier living environments, the demand for boilers with advanced features that contribute to improved IAQ has surged. Modern residential boilers are designed not only for efficient heating but also to address concerns related to air quality. Manufacturers integrate advanced air filtration and purification systems into these heating solutions, ensuring that the circulated air remains clean and free from pollutants. Additionally, homeowners are becoming more conscious of the impact of indoor air pollutants on respiratory health and overall well-being.
Restraint:
Availability of alternative heating solutions
As diverse and energy-efficient alternatives emerge, consumers have more options to meet their heating needs. Electric heaters, heat pumps, and radiant heating systems, among others, offer viable alternatives to traditional residential boilers. These alternatives often appeal to consumers based on factors such as ease of installation, lower upfront costs, and perceived environmental friendliness. However, the competition from these alternatives can divert consumer attention and influence their choices, impacting the market share of residential boilers.
Opportunity:
Technological advancements
As innovation continues to reshape the heating industry, modern residential boilers incorporate cutting-edge technologies that enhance efficiency, convenience, and sustainability. Smart heating controls, digital interfaces, and remote connectivity features enable homeowners to optimize their heating systems for energy savings and personalized comfort. Moreover, the integration of sensor technologies and predictive maintenance capabilities ensures proactive system monitoring and maintenance, minimizing downtime and maximizing the lifespan of residential boilers.
Threat:
High initial costs
The upfront investment required for purchasing and installing residential boilers, particularly advanced and energy-efficient models, can be a substantial financial barrier. Consumers may be hesitant to commit to the initial expenses, especially when alternative heating solutions with lower upfront costs are available. This financial burden becomes a deterrent, particularly for budget-conscious individuals or those facing economic uncertainties. However, despite the potential long-term savings through energy efficiency, the immediate financial impact often influences decision-making, hindering the market penetration of residential boilers.
Covid-19 Impact:
Lockdowns, supply chain disruptions, and economic uncertainties have led to delays in construction projects and hindered new installations. The pandemic-induced financial strain on consumers has prompted a cautious approach towards major investments like heating system upgrades, affecting market growth. However, supply chain challenges, have affected manufacturing and delivery schedules, leading to intermittent product availability. The increased focus on home comfort during lockdowns has driven demand for efficient heating solutions.
The oil boilers segment is expected to be the largest during the forecast period
Oil Boilers segment is expected to be the largest during the forecast period. Due to the growing popularity of alternative energy sources, oil boilers continue to be a preferred choice for homeowners in certain regions. Their robust and reliable performance, especially in areas without access to natural gas infrastructure, contributes to sustained demand. Furthermore, the versatility of oil boilers, capable of providing both space heating and hot water, enhances their appeal.
The condensing segment is expected to have the highest CAGR during the forecast period
Condensing segment is expected to have the highest CAGR during the forecast period. Condensing boilers recover and utilize heat from flue gases that would otherwise be expelled, making them highly efficient in converting fuel into heat. This increased efficiency translates into lower energy bills for homeowners, fostering a growing demand for these systems. Moreover, the condensing segment aligns well with global efforts to reduce carbon footprints, as these boilers produce lower greenhouse gas emissions compared to traditional models.
Region with largest share:
Because of the recent rapid development of residential construction and building infrastructure in developing countries such as China, Japan, and India, the Asia-Pacific area held the largest portion over the forecast period. Rising awareness of environmental pollution caused by carbon and greenhouse gas emissions is projected to support the growth of the residential boiler market in the coming years. Furthermore, the region's diversified climate—which ranges from cold winters in the north to humid summers in the tropics—creates a range of demands for heating solutions, which supports the growth of the industry.
Region with highest CAGR:
Asia Pacific region is growing at a rapid pace over the forecast period as a result of an increase in demand for residential boilers from domestic applications, such as homes, farmhouses, vacation homes, apartments, and others, to heat water and keep homes warm. Furthermore, the residential boiler market is anticipated to rise at an even quicker pace than other emerging economies like China and India due to their quickly expanding constructing industries.
Key players in the market
Some of the key players in Residential Boiler market include Ariston Thermo SpA, BDR Thermea Group, Bradford White Corporation, Burnham Holdings, Lennox International, Noritz Corporation, Parker Boiler, Robert Bosch GmbH, Saudi Boilers, SPX Corporation and Viessmann Manufacturing Company, Inc.
Key Developments:
In January 2023, Ariston Holding N.V. announced the acquisition of CENTROTEC Climate Systems GmbH from CENTROTEC SE. The acquired company operates through renowned brands, Wolf is a pioneer in the development of new-generation residential boilers. The CENTROTEC enjoys a solid market positioning in the European markets. The acquisition will support Ariston’s growth across the region and will enhance its market presence worldwide.
In November 2022, VISSEMANN launched its Vitodens boiler range with an increased output of 35 kW. The new addition offers a Domestic Hot Water output between 2.9 kW to 35 kW and a heating output ranging from 3.2 to 32 kW. The new models are Wi-Fi-enabled offering the homeowner to fully control the heating with the help of the ViCare app.
In September 2022, Ferroli's new and upgraded Bluehelix HiTech RRT home boilers have been introduced. To give installers and their clients complete peace of mind regarding their decision regarding performance and aftercare, the Bluehelix HiTech comes with a 7-year warranty as standard.
Types Covered:
• Water Tube
• Fire Tube
• System Boilers
• Electric Boilers
• Oil Boilers
• Gas Boilers
• Other Types
Technologies Covered:
• Condensing
• Non Condensing
• Other Technologies
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Residential Boiler Market, By Type
5.1 Introduction
5.2 Water Tube
5.3 Fire Tube
5.4 System Boilers
5.5 Electric Boilers
5.6 Oil Boilers
5.7 Gas Boilers
5.8 Other Types
6 Global Residential Boiler Market, By Technology
6.1 Introduction
6.2 Condensing
6.3 Non Condensing
6.4 Other Technologies
7 Global Residential Boiler Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Ariston Thermo SpA
9.2 BDR Thermea Group
9.3 Bradford White Corporation
9.4 Burnham Holdings
9.5 Lennox International
9.6 Noritz Corporation
9.7 Parker Boiler
9.8 Robert Bosch GmbH
9.9 Saudi Boilers
9.10 SPX Corporation
9.11 Viessmann Manufacturing Company, Inc
List of Tables
1 Global Residential Boiler Market Outlook, By Region (2021-2030) ($MN)
2 Global Residential Boiler Market Outlook, By Type (2021-2030) ($MN)
3 Global Residential Boiler Market Outlook, By Water Tube (2021-2030) ($MN)
4 Global Residential Boiler Market Outlook, By Fire Tube (2021-2030) ($MN)
5 Global Residential Boiler Market Outlook, By System Boilers (2021-2030) ($MN)
6 Global Residential Boiler Market Outlook, By Electric Boilers (2021-2030) ($MN)
7 Global Residential Boiler Market Outlook, By Oil Boilers (2021-2030) ($MN)
8 Global Residential Boiler Market Outlook, By Gas Boilers (2021-2030) ($MN)
9 Global Residential Boiler Market Outlook, By Other Types (2021-2030) ($MN)
10 Global Residential Boiler Market Outlook, By Technology (2021-2030) ($MN)
11 Global Residential Boiler Market Outlook, By Condensing (2021-2030) ($MN)
12 Global Residential Boiler Market Outlook, By Non Condensing (2021-2030) ($MN)
13 Global Residential Boiler Market Outlook, By Other Technologies (2021-2030) ($MN)
14 North America Residential Boiler Market Outlook, By Country (2021-2030) ($MN)
15 North America Residential Boiler Market Outlook, By Type (2021-2030) ($MN)
16 North America Residential Boiler Market Outlook, By Water Tube (2021-2030) ($MN)
17 North America Residential Boiler Market Outlook, By Fire Tube (2021-2030) ($MN)
18 North America Residential Boiler Market Outlook, By System Boilers (2021-2030) ($MN)
19 North America Residential Boiler Market Outlook, By Electric Boilers (2021-2030) ($MN)
20 North America Residential Boiler Market Outlook, By Oil Boilers (2021-2030) ($MN)
21 North America Residential Boiler Market Outlook, By Gas Boilers (2021-2030) ($MN)
22 North America Residential Boiler Market Outlook, By Other Types (2021-2030) ($MN)
23 North America Residential Boiler Market Outlook, By Technology (2021-2030) ($MN)
24 North America Residential Boiler Market Outlook, By Condensing (2021-2030) ($MN)
25 North America Residential Boiler Market Outlook, By Non Condensing (2021-2030) ($MN)
26 North America Residential Boiler Market Outlook, By Other Technologies (2021-2030) ($MN)
27 Europe Residential Boiler Market Outlook, By Country (2021-2030) ($MN)
28 Europe Residential Boiler Market Outlook, By Type (2021-2030) ($MN)
29 Europe Residential Boiler Market Outlook, By Water Tube (2021-2030) ($MN)
30 Europe Residential Boiler Market Outlook, By Fire Tube (2021-2030) ($MN)
31 Europe Residential Boiler Market Outlook, By System Boilers (2021-2030) ($MN)
32 Europe Residential Boiler Market Outlook, By Electric Boilers (2021-2030) ($MN)
33 Europe Residential Boiler Market Outlook, By Oil Boilers (2021-2030) ($MN)
34 Europe Residential Boiler Market Outlook, By Gas Boilers (2021-2030) ($MN)
35 Europe Residential Boiler Market Outlook, By Other Types (2021-2030) ($MN)
36 Europe Residential Boiler Market Outlook, By Technology (2021-2030) ($MN)
37 Europe Residential Boiler Market Outlook, By Condensing (2021-2030) ($MN)
38 Europe Residential Boiler Market Outlook, By Non Condensing (2021-2030) ($MN)
39 Europe Residential Boiler Market Outlook, By Other Technologies (2021-2030) ($MN)
40 Asia Pacific Residential Boiler Market Outlook, By Country (2021-2030) ($MN)
41 Asia Pacific Residential Boiler Market Outlook, By Type (2021-2030) ($MN)
42 Asia Pacific Residential Boiler Market Outlook, By Water Tube (2021-2030) ($MN)
43 Asia Pacific Residential Boiler Market Outlook, By Fire Tube (2021-2030) ($MN)
44 Asia Pacific Residential Boiler Market Outlook, By System Boilers (2021-2030) ($MN)
45 Asia Pacific Residential Boiler Market Outlook, By Electric Boilers (2021-2030) ($MN)
46 Asia Pacific Residential Boiler Market Outlook, By Oil Boilers (2021-2030) ($MN)
47 Asia Pacific Residential Boiler Market Outlook, By Gas Boilers (2021-2030) ($MN)
48 Asia Pacific Residential Boiler Market Outlook, By Other Types (2021-2030) ($MN)
49 Asia Pacific Residential Boiler Market Outlook, By Technology (2021-2030) ($MN)
50 Asia Pacific Residential Boiler Market Outlook, By Condensing (2021-2030) ($MN)
51 Asia Pacific Residential Boiler Market Outlook, By Non Condensing (2021-2030) ($MN)
52 Asia Pacific Residential Boiler Market Outlook, By Other Technologies (2021-2030) ($MN)
53 South America Residential Boiler Market Outlook, By Country (2021-2030) ($MN)
54 South America Residential Boiler Market Outlook, By Type (2021-2030) ($MN)
55 South America Residential Boiler Market Outlook, By Water Tube (2021-2030) ($MN)
56 South America Residential Boiler Market Outlook, By Fire Tube (2021-2030) ($MN)
57 South America Residential Boiler Market Outlook, By System Boilers (2021-2030) ($MN)
58 South America Residential Boiler Market Outlook, By Electric Boilers (2021-2030) ($MN)
59 South America Residential Boiler Market Outlook, By Oil Boilers (2021-2030) ($MN)
60 South America Residential Boiler Market Outlook, By Gas Boilers (2021-2030) ($MN)
61 South America Residential Boiler Market Outlook, By Other Types (2021-2030) ($MN)
62 South America Residential Boiler Market Outlook, By Technology (2021-2030) ($MN)
63 South America Residential Boiler Market Outlook, By Condensing (2021-2030) ($MN)
64 South America Residential Boiler Market Outlook, By Non Condensing (2021-2030) ($MN)
65 South America Residential Boiler Market Outlook, By Other Technologies (2021-2030) ($MN)
66 Middle East & Africa Residential Boiler Market Outlook, By Country (2021-2030) ($MN)
67 Middle East & Africa Residential Boiler Market Outlook, By Type (2021-2030) ($MN)
68 Middle East & Africa Residential Boiler Market Outlook, By Water Tube (2021-2030) ($MN)
69 Middle East & Africa Residential Boiler Market Outlook, By Fire Tube (2021-2030) ($MN)
70 Middle East & Africa Residential Boiler Market Outlook, By System Boilers (2021-2030) ($MN)
71 Middle East & Africa Residential Boiler Market Outlook, By Electric Boilers (2021-2030) ($MN)
72 Middle East & Africa Residential Boiler Market Outlook, By Oil Boilers (2021-2030) ($MN)
73 Middle East & Africa Residential Boiler Market Outlook, By Gas Boilers (2021-2030) ($MN)
74 Middle East & Africa Residential Boiler Market Outlook, By Other Types (2021-2030) ($MN)
75 Middle East & Africa Residential Boiler Market Outlook, By Technology (2021-2030) ($MN)
76 Middle East & Africa Residential Boiler Market Outlook, By Condensing (2021-2030) ($MN)
77 Middle East & Africa Residential Boiler Market Outlook, By Non Condensing (2021-2030) ($MN)
78 Middle East & Africa Residential Boiler Market Outlook, By Other Technologies (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
Request Customization
We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.
WHY CHOOSE US ?
Assured Quality
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Free Customization
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.
