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Residential Boiler Market Report by Type (Water Tube Boiler, Fire Tube Boiler, Electric Boiler), Fuel Type (Coal Fired, Oil Fired, Gas Fired, and Others), Technology (Condensing, Non-condensing), and Region 2024-2032

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    Report

  • 136 Pages
  • July 2024
  • Region: Global
  • IMARC Group
  • ID: 5834321
Description Jump to:
The global residential boiler market size reached US$ 8.5 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 12.8 Billion by 2032, exhibiting a growth rate (CAGR) of 4.7% during 2023-2032.

Residential boilers refer to hydronic heating systems that convert chemical energy into thermal energy to heat the water present inside the tank. They consist of radiators or baseboards that assist in heating the water via convection and maintaining the temperature while circulating it through metallic vessels. Residential boilers offer high reliability, longer shelf-life, less maintenance, optimal energy efficiency, and are environmental-friendly. On account of these properties, they are employed across public infrastructures, holiday homes, and residential establishments. At present, residential boilers are commercially available in condensing and non-condensing technologies.

Residential Boiler Market Trends:

With the rising ongoing construction activities, particularly in emerging economies, there has been an increasing demand for energy-efficient water heating equipment, such as residential boilers, to offer consumers an easy access to warm water. This represents the prime factor currently driving the market growth. In line with this, the rising concerns regarding the heat and pollution generated by boilers have prompted the governments of various countries to undertake stringent initiatives for promoting the establishment of green buildings and uptake of eco-friendly residential boilers as a sustainable heating technology. This, in turn, assists in improving air quality by mitigating the depletion of natural resources and minimizing the emissions of greenhouse gases (GHGs). Additionally, significant technological advancements and growing investments in research and development (R&D) activities have led the introduction of coal, oil, and gas-fired residential boilers at reduced manufacturing cost, which is also contributing to the market growth. Moreover, the extensive utilization of condensing boilers in residential areas on account of its various beneficial properties, including affordability, reduced carbon footprints, and clean heating operation, is propelling the market growth. Other factors, such as rapid urbanization and rising disposable incomes in developing regions, along with the increasing need for high-performance heating devices with easy maintenance and installation, are creating a positive outlook for the market.

Key Market Segmentation:

The report provides an analysis of the key trends in each sub-segment of the global residential boiler market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type, fuel type and technology.

Breakup by Type:

Water Tube Boiler
Fire Tube Boiler
Electric Boiler

Breakup by Fuel Type:

Coal Fired
Oil Fired
Gas Fired
Others

Breakup by Technology:

Condensing
Non-condensing

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being A. O. Smith Corporation, Ariston Holding N.V., Bradford White Corporation, Burnham Holdings Inc., Daikin Industries Ltd., FERROLI S.p.A, Lennox International Inc., NORITZ Corporation, Robert Bosch GmbH, Slant/Fin Corporation, SPX Corporation and Viessmann.

Key Questions Answered in This Report

1. What was the size of the global residential boiler market in 2023?
2. What is the expected growth rate of the global residential boiler market during 2024-2032?
3. What are the key factors driving the global residential boiler market?
4. What has been the impact of COVID-19 on the global residential boiler market?
5. What is the breakup of the global residential boiler market based on the type?
6. What is the breakup of the global residential boiler market based on the fuel type?
7. What is the breakup of the global residential boiler market based on the technology?
8. What are the key regions in the global residential boiler market?
9. Who are the key players/companies in the global residential boiler market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Residential Boiler Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Water Tube Boiler
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Fire Tube Boiler
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Electric Boiler
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Fuel Type
7.1 Coal Fired
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Oil Fired
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Gas Fired
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Technology
8.1 Condensing
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Non-condensing
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 A. O. Smith Corporation
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 Ariston Holding N.V.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 Bradford White Corporation
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 Burnham Holdings Inc.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 Daikin Industries Ltd.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6 FERROLI S.p.A
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7 Lennox International Inc.
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8 NORITZ Corporation
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Robert Bosch GmbH
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 SWOT Analysis
14.3.10 Slant/Fin Corporation
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11 SPX Corporation
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.12 Viessmann
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
List of Figures
Figure 1: Global: Residential Boiler Market: Major Drivers and Challenges
Figure 2: Global: Residential Boiler Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Residential Boiler Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Residential Boiler Market: Breakup by Type (in %), 2023
Figure 5: Global: Residential Boiler Market: Breakup by Fuel Type (in %), 2023
Figure 6: Global: Residential Boiler Market: Breakup by Technology (in %), 2023
Figure 7: Global: Residential Boiler Market: Breakup by Region (in %), 2023
Figure 8: Global: Residential Boiler (Water Tube Boiler) Market: Sales Value (in Million US$), 2018 & 2023
Figure 9: Global: Residential Boiler (Water Tube Boiler) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 10: Global: Residential Boiler (Fire Tube Boiler) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Residential Boiler (Fire Tube Boiler) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: Residential Boiler (Electric Boiler) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Residential Boiler (Electric Boiler) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Residential Boiler (Coal Fired) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Residential Boiler (Coal Fired) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Residential Boiler (Oil Fired) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Residential Boiler (Oil Fired) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Residential Boiler (Gas Fired) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Residential Boiler (Gas Fired) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Residential Boiler (Other Fuel Types) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Residential Boiler (Other Fuel Types) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Residential Boiler (Condensing) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Residential Boiler (Condensing) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Residential Boiler (Non-condensing) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Residential Boiler (Non-condensing) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: North America: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: North America: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: United States: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: United States: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Canada: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Canada: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: Asia-Pacific: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: Asia-Pacific: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: China: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: China: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Japan: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Japan: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: India: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: India: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: South Korea: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: South Korea: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: Australia: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: Australia: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Indonesia: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Indonesia: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: Others: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: Others: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: Europe: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: Europe: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Germany: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Germany: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: France: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: France: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: United Kingdom: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: United Kingdom: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: Italy: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: Italy: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: Spain: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: Spain: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: Russia: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: Russia: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: Others: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: Others: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Latin America: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: Latin America: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: Brazil: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: Brazil: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 68: Mexico: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 69: Mexico: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Others: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 71: Others: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 72: Middle East and Africa: Residential Boiler Market: Sales Value (in Million US$), 2018 & 2023
Figure 73: Middle East and Africa: Residential Boiler Market: Breakup by Country (in %), 2023
Figure 74: Middle East and Africa: Residential Boiler Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 75: Global: Residential Boiler Industry: SWOT Analysis
Figure 76: Global: Residential Boiler Industry: Value Chain Analysis
Figure 77: Global: Residential Boiler Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Residential Boiler Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Residential Boiler Market Forecast: Breakup by Type (in Million US$), 2024-2032
Table 3: Global: Residential Boiler Market Forecast: Breakup by Fuel Type (in Million US$), 2024-2032
Table 4: Global: Residential Boiler Market Forecast: Breakup by Technology (in Million US$), 2024-2032
Table 5: Global: Residential Boiler Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 6: Global: Residential Boiler Market: Competitive Structure
Table 7: Global: Residential Boiler Market: Key Players

Companies Mentioned

  • A. O. Smith Corporation
  • Ariston Holding N.V.
  • Bradford White Corporation
  • Burnham Holdings Inc.
  • Daikin Industries Ltd.
  • FERROLI S.p.A
  • Lennox International Inc.
  • NORITZ Corporation
  • Robert Bosch GmbH
  • Slant/Fin Corporation
  • SPX Corporation
  • Viessmann

Methodology

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Table Information

Report AttributeDetails
No. of Pages136
PublishedJuly 2024
Forecast Period2023 - 2032
Estimated Market Value ( USD ) in 2023 $ 8.5 Billion
Forecasted Market Value ( USD ) by 2032 $ 12.8 Billion
Compound Annual Growth Rate4.7%
Regions CoveredGlobal
No. of Companies Mentioned12

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About the Market

The domestic boiler market within the context of HVAC is a highly competitive sector. Boilers are used to provide hot water and heating to residential properties, and are typically powered by natural gas, oil, or electricity. Boilers are typically installed in the basement or utility room of a home, and are connected to a network of pipes and radiators. Boilers are typically rated by their efficiency, with higher efficiency models providing greater energy savings. In recent years, the domestic boiler market has seen a shift towards more efficient models, as well as the introduction of smart technology. Smart boilers are able to be controlled remotely, and can be programmed to provide optimal energy efficiency. The domestic boiler market is highly competitive, with a range of manufacturers offering a variety of models. Some of the leading companies in the market include Vaillant, Worcester Bosch, Baxi, Ideal, and Glow-worm. Show Less Read more

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