Electric Boiler Market Size By Capacity (≤ 10 MMBtu/hr, > 10 - 50 MMBtu/hr, > 50 - 100 MMBtu/hr, > 100 - 250 MMBtu/hr, > 250 MMBtu/hr), By Voltage Rating (Low Voltage, Medium Voltage), By Application (Residential, Commercial {Offices, Healthcare Fac

Electric Boiler Market Size By Capacity (≤ 10 MMBtu/hr, > 10 - 50 MMBtu/hr, > 50 - 100 MMBtu/hr, > 100 - 250 MMBtu/hr, > 250 MMBtu/hr), By Voltage Rating (Low Voltage, Medium Voltage), By Application (Residential, Commercial {Offices, Healthcare Facilities, Educational Institutions, Lodgings, Retail Stores}, Industrial {Food Processing, Pulp & Paper, Chemical, Refinery, Primary Metal}), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 - 2032

Electric Boiler Market is anticipated to record growth through 2032 owing to the constant investments in the healthcare sector. Increasing investments by public and private players across the healthcare industry will boost the demand for the electric boiler market. The industry growth can further be supported by the ongoing construction of new hospitals, nursing homes, and clinics, along with ongoing refurbishment of existing infrastructure to incorporate more patients.

The constant transition from fossil fuels to decarbonizing alternatives, coupled with the impulsion to deploy clean energy technology, will positively influence the business growth. Various central governments are introducing stringent regulations and emission norms, while laying down several favorable policies and funding schemes that will also positively influence the adoption of electric boilers in the coming future.

Overall, the electric boiler industry is segmented in terms of capacity, voltage rating, application, and region.

Based on capacity, the > 50–100 MMBtu/hr capacity will grow considerably through 2032 end. These electric boilers boast wide applications across medium-scale industries for generating steam for process heating. They are also deployed massively across chemical and food processing units. Besides, various benefits introduced by the government, such as tax incentives and additional subsidies, will promote the adoption of energy-efficient technologies that consume less fuel and deliver high energy, thereby boosting product penetration.

By voltage rating, the low-voltage boiler market is anticipated to grow at robust rate during the estimated timeframe. Low-voltage boilers are compact and require very little maintenance, reducing the overall expense of the boiler. In addition, these units are known for producing fewer emissions and residues than conventional boilers, which will most likely spur their adoption in the ensuing years.

Considering the application, the industrial electric boiler market was valued at over USD 200 million in 2022. Increasing investments in expanding manufacturing facilities and rising industrialization will augment the use of boilers in this segment. The burgeoning economic growth due to rapid urbanization is also slated to impact the industrial sector across the key global economies.

Regionally, the Asia Pacific electric boiler market will experience appreciable gains during the estimated timeframe. Effective implementation of government regulations for controlling pollution and replacing traditional heating systems will positively influence the regional industry expansion during 2023–2032. In addition, strict norms for controlling emissions, supported by national targets to reduce the carbon footprint, will further enhance product penetration.