The global residential boiler market is estimated to be worth US$ 29.5 Bn in 2022 and US$ 49.9 Bn in 2032, growing at a CAGR of 5.4% between 2022 and 2032.
The global residential boiler market is expected to be worth $29.5 billion in 2022 and $49.9 billion in 2032, growing at a 5.4% CAGR between 2022 and 2032. Currently, products with a volumetric capacity of less than 24 kW account for more than 77% of the home boiler market.
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.
About FMI – Industrial Automation
The Industrial Automation division of FMI offers a novel approach and innovative perspective in analyzing industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial and special purpose machinery across manufacturing sector and distinctive analysis about installed base, consumables, replacement, USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustain, grow and identify new revenue prospects.
Key Segments Covered in Residential Boiler Industry Analysis
By Capacity
By Technology
By Fuel Type
By Application
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.
Residential Boiler Market Growth , Residential Boiler Market Demand , Residential Boiler Market Analysis
Dec 22, 2022
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