North America Residential Electric Boiler Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

North America Residential Electric Boiler Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

North America residential electric boiler market was valued at USD 335.2 million in 2023 and is expected to grow at a CAGR of 9.2% through 2032. The market growth is driven by increasing investments in sustainable systems aimed at reducing greenhouse gas and carbon emissions. This shift aligns with evolving regulations focused on the construction, design, and operation of buildings to encourage the use of energy-efficient appliances.

Residential electric boilers are efficient and eco-friendly heating systems designed for home use, converting electrical energy into heat for domestic hot water and space heating. These systems produce zero emissions and do not require a flue, making them an environmentally friendly option for homeowners. They also operate silently and have fewer moving parts, which reduces maintenance needs and enhances reliability. Additionally, these boilers offer precise temperature control and can be easily integrated into home automation systems.

The low-voltage residential electric boiler market is expected to surpass USD 500 million by 2032. This growth is largely due to increased investments in the real estate sector and the ongoing transition from traditional heating systems to energy-efficient alternatives. Strict regulations focused on reducing fossil fuel use, combined with government incentives promoting clean technologies, are further driving market dynamics.

In addition, the medium-voltage residential electric boiler market is projected to grow at over 8.5% CAGR through 2032. These boilers are popular due to their high pressure handling capacity, extended lifespan, and enhanced safety features. The adoption of energy-efficient codes and standards aimed at improving energy usage and reducing greenhouse gas emissions is expected to positively impact this market segment.

The U.S. residential electric boiler market is on track to exceed USD 600 million by 2032. Growth is being driven by efforts to reduce GHG emissions and increased investments in green building infrastructures. Additionally, the harsh weather conditions and rising investments in residential infrastructure will further support market expansion.

In Canada, rising investments in the real estate sector and increasing consumer awareness regarding efficient heating systems are contributing to market growth. The shift toward energy-efficient water heating systems and growing preferences for smaller family units are also expected to bolster the demand for residential electric boilers in the region.