Residential boilers are increasingly being used as heating system equipment in a variety of residential settings worldwide. This is due to the fact that they provide all-purpose heating, including space and water heating.
According to Future Market Insights, the global residential boiler market is anticipated to grow significantly during the forecast period (2022-2032). This due to increasing demand for advanced home appliances in residential sector across the globe.
Demand for residential boilers is anticipated to be driven by the growing demand from real estate sector in the U.S., Germany, India, and China. According to the Future Market Insights report, the global residential boilers market is expected to reach US$ 29.5 Bn in 2022, growing at a CAGR of 5.4 % from 2022 to 2032.
During the projected period, the demand for space heating and water heating household equipment is expected to rise along with government development plans, new construction projects, and need for a comfortable lifestyle.
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Key Takeaways of Residential Boiler Market Study
“Demand for residential boilers is projected to surge with expansion of real estate market. Shifting lifestyle preferences, governmental regulations, and real estate development plans will propel the demand in the market. To capitalize on growing demand key companies are increasing investment in technological advancements for product enhancement and after-sales service.” says Future Market insights analyst
Competitive Landscape
Top manufacturers are dominating the residential boiler market globally, which is highly consolidated. Market players are attempting to increase their market share by creating new products and upgrading existing product lines due to technological advancements.
Some of the companies are collaborating to expand their market-based sales channels while concentrating on providing consumers a network of post-purchase services. Additionally, key supply trends like the introduction of new products and significant investments in R&D are followed by producers of residential boilers. Ariston Thermo Group, Groupe Atlantic, Vaillant Group, and Viessmann are a few of the major companies in the sector.
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The research report analyzes the market demand trends of residential boilers. The Egypt market estimation and growth projection is based on factors like end use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of residential boilers. As per Future Market Insights research scope, the residential boilers Market has been studied and segmented on the basis of product capacity and end-use. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand side.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jul 21, 2022