Space Heating Boilers Market Share, Size, Trends, Industry Analysis Report, By Operation (Gas-fired Space Heating Boilers, Electric Space Heating Boilers), By Application (Residential, Commercial), By Type, By Region, And Segment Forecasts, 2023 - 2032

Space Heating Boilers Market Share, Size, Trends, Industry Analysis Report, By Operation (Gas-fired Space Heating Boilers, Electric Space Heating Boilers), By Application (Residential, Commercial), By Type, By Region, And Segment Forecasts, 2023 - 2032



The global space heating boilers market size is expected to reach USD 38.24 billion by 2032, according to a new study by Polaris Market Research. The report “Space Heating Boilers Market Share, Size, Trends, Industry Analysis Report, By Operation (Gas-fired Space Heating Boilers, Electric Space Heating Boilers), By Application (Residential, Commercial), By Type, By Region, And Segment Forecasts, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market is poised to reap the advantages of the swift construction expenditure, synergized with advantageous governmental initiatives geared towards adopting energy-efficient solutions. Notably, initiatives like integrating energy-efficient products are anticipated to yield favorable outcomes. An example of such measures is highlighted on the ENERGY STAR website, which elucidates that federal income tax credits for energy-efficient home enhancements will be extended until 2032 as per the Inflation Reduction Act 2022.

In 2021, the United States accounted for 16% of the global primary energy consumption, as reported by the U.S. Energy Information Administration. Notably, despite encompassing around 4% of the global population during that year, the U.S. secured the 10th position worldwide regarding primary energy consumption per capita. The usage of prominent energy sources like natural gas and LP gas has prompted environmental apprehensions, given the implications tied to sourcing, transportation, and the potential for emissions, particularly methane leaks.

Procurement of sizable commercial space heating boilers can be facilitated through the Federal Energy Management Program. Specifically, for low-pressure steam water boilers designated for commercial use, spanning a rated capacity within the range of 2,500,000 (Btu/h) to 10,000,000 (Btu/h), the acquisition protocols and efficiency benchmarks outlined by FEMP are pertinent. In addition, the ENERGY STAR initiative encompasses both small-scale commercial and residential space heating boilers. Consequently, the escalating quest for energy-efficient remedies, harmonized with an upsurge in governmental directives emphasizing heightened energy efficiency standards, is projected to be a pivotal driver for the market's demand trajectory.

Space heating boiler manufacturers are actively pursuing avenues for growth, including product introductions, contract agreements, mergers, acquisitions, and expansive initiatives to innovate novel offerings. For instance, in July 2023, Rheem, a distinguished water heating and HVACR system provider, unveiled ThermaForce, an assortment of remarkably high-efficiency condensing gas boilers and water heaters catering to the residential segment.

Space Heating Boilers Market Report Highlights

Electric segment will grow at the fastest pace, as they based on renewable source of energy, without causing any harm to environment

Commercial segment held the largest share, owing to stringent guidelnes introduced by the respective legislatures

Condensing space heaters garnered largest share, as they have higher efficiency, and optimum recycling capabilities

APAC will grow at substantial pace, primarily due to huge un-tapped growth in commercial sector

The global players include Rheem Manufacturing, Ingersoll-Rand, Daikin Industries, Lennox International, Viessmann, Lochinvar, Ideal Heating, Baxi, Navien, and Biasi

Polaris Market Research has segmented the space heating boilers market report based on operation, application, type, and regions:

Space Heating Boilers, Operation Outlook (Revenue - USD Billion, 2019 - 2032)

Gas-fired Space Heating Boilers

Electric Space Heating Boilers

Oil-fired Space Heating Boilers

Space Heating Boilers, Application Outlook (Revenue - USD Billion, 2019 - 2032)

Residential

Commercial

Space Heating Boilers, Type Outlook (Revenue - USD Billion, 2019 - 2032)

Non-condensing Space Heating Boiler

Condensing Space Heating Boiler

Space Heating Boilers, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa


1. Introduction
1.1. Report Description
1.1.1. Objectives of the Study
1.1.2. Market Scope
1.1.3. Assumptions
1.2. Stakeholders
2. Executive Summary
2.1. Market Highlights
3. Research Methodology
3.1. Overview
3.1.1. Data Mining
3.2. Data Sources
3.2.1. Primary Sources
3.2.2. Secondary Sources
4. Global Space Heating Boilers Market Insights
4.1. Space Heating Boilers Market – Application Snapshot
4.2. Space Heating Boilers Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Rising interest for sustainable buildings
4.2.1.2. Technological Advancement
4.2.2. Restraints and Challenges
4.2.2.1. High initial costs
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Space Heating Boilers Market Application Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global Space Heating Boilers Market, by Operation
5.1. Key Findings
5.2. Introduction
5.2.1. Global Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
5.3. Gas-fired
5.3.1. Global Space Heating Boilers Market, by Gas-fired, by Region, 2019-2032 (USD Billion)
5.4. Electric
5.4.1. Global Space Heating Boilers Market, by Electric, by Region, 2019-2032 (USD Billion)
5.5. Oil-fired
5.5.1. Global Space Heating Boilers Market, by Oil-fired, by Region, 2019-2032 (USD Billion)
6. Global Space Heating Boilers Market, by Type
6.1. Key Findings
6.2. Introduction
6.2.1. Global Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
6.3. Non-condensing
6.3.1. Global Space Heating Boilers Market, by Non-condensing, by Region, 2019-2032 (USD Billion)
6.4. Condensing
6.4.1. Global Space Heating Boilers Market, by Condensing, by Region, 2019-2032 (USD Billion)
7. Global Space Heating Boilers Market, by Application
7.1. Key Findings
7.2. Introduction
7.2.1. Global Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
7.3. Residential
7.3.1. Global Space Heating Boilers Market, by Residential, By Region, 2019-2032 (USD Billion)
7.4. Commercial
7.4.1. Global Space Heating Boilers Market, by Commercial, By Region, 2019-2032 (USD Billion)
8. Global Space Heating Boilers Market, by Geography
8.1. Key findings
8.2. Introduction
8.2.1. Space Heating Boilers Market Assessment, By Geography, 2019-2032 (USD Billion)
8.3. Space Heating Boilers Market – North America
8.3.1. North America: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.3.2. North America: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.3.3. North America: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.3.4. Space Heating Boilers Market – U.S.
8.3.4.1. U.S.: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.3.4.2. U.S.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.3.4.3. U.S.: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.3.5. Space Heating Boilers Market – Canada
8.3.5.1. Canada: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.3.5.2. Canada.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.3.5.3. Canada: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.4. Space Heating Boilers Market – Europe
8.4.1. Europe: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.4.2. Europe.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.4.3. Europe: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.4.4. Space Heating Boilers Market – UK
8.4.4.1. UK: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.4.4.2. UK.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.4.4.3. UK: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.4.5. Space Heating Boilers Market – France
8.4.5.1. France: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.4.5.2. France.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.4.5.3. France: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.4.6. Space Heating Boilers Market – Germany
8.4.6.1. Germany: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.4.6.2. Germany.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.4.6.3. Germany: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.4.7. Space Heating Boilers Market – Italy
8.4.7.1. Italy: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.4.7.2. Italy.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.4.7.3. Italy: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.4.8. Space Heating Boilers Market – Spain
8.4.8.1. Spain: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.4.8.2. Spain.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.4.8.3. Spain: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.4.9. Space Heating Boilers Market – Netherlands
8.4.9.1. Netherlands: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.4.9.2. Netherlands.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.4.9.3. Netherlands: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.4.10. Space Heating Boilers Market – Russia
8.4.10.1. Russia: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.4.10.2. Russia.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.4.10.3. Russia: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.5. Space Heating Boilers Market – Asia Pacific
8.5.1. Asia Pacific: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.5.2. Asia Pacific.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.5.3. Asia Pacific: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.5.4. Space Heating Boilers Market – China
8.5.4.1. China: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.5.4.2. China.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.5.4.3. China: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.5.5. Space Heating Boilers Market – India
8.5.5.1. India: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.5.5.2. India.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.5.5.3. India: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.5.6. Space Heating Boilers Market – Malaysia
8.5.6.1. Malaysia: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.5.6.2. Malaysia.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.5.6.3. Malaysia: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.5.7. Space Heating Boilers Market – Japan
8.5.7.1. Japan: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.5.7.2. Japan.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.5.7.3. Japan: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.5.8. Space Heating Boilers Market – Indonesia
8.5.8.1. Indonesia: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.5.8.2. Indonesia.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.5.8.3. Indonesia: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.5.9. Space Heating Boilers Market – South Korea
8.5.9.1. South Korea: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.5.9.2. South Korea.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.5.9.3. South Korea: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.6. Space Heating Boilers Market – Middle East & Africa
8.6.1. Middle East & Africa: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.6.2. Middle East & Africa.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.6.3. Middle East & Africa: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.6.4. Space Heating Boilers Market – Saudi Arabia
8.6.4.1. Saudi Arabia: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.6.4.2. Saudi Arabia.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.6.4.3. Saudi Arabia: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.6.5. Space Heating Boilers Market – UAE
8.6.5.1. UAE: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.6.5.2. UAE.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.6.5.3. UAE: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.6.6. Space Heating Boilers Market – Israel
8.6.6.1. Israel: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.6.6.2. Israel.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.6.6.3. Israel: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.6.7. Space Heating Boilers Market – South Africa
8.6.7.1. South Africa: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.6.7.2. South Africa.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.6.7.3. South Africa: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.7. Space Heating Boilers Market – Latin America
8.7.1. Latin America: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.7.2. Latin America.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.7.3. Latin America: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.7.4. Space Heating Boilers Market – Mexico
8.7.4.1. Mexico: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.7.4.2. Mexico.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.7.4.3. Mexico: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.7.5. Space Heating Boilers Market – Brazil
8.7.5.1. Brazil: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.7.5.2. Brazil.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.7.5.3. Brazil: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
8.7.6. Space Heating Boilers Market – Argentina
8.7.6.1. Argentina: Space Heating Boilers Market, by Operation, 2019-2032 (USD Billion)
8.7.6.2. Argentina.: Space Heating Boilers Market, by Application, 2019-2032 (USD Billion)
8.7.6.3. Argentina: Space Heating Boilers Market, by Type, 2019-2032 (USD Billion)
9. Competitive Landscape
9.1. Expansion and Acquisition Analysis
9.1.1. Expansion
9.1.2. Acquisitions
9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
10.1. AAON
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Product Benchmarking
10.1.4. Recent Development
10.2. Ariston Thermo
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Product Benchmarking
10.2.4. Recent Development
10.3. Baxi
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Product Benchmarking
10.3.4. Recent Development
10.4. Biasi
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Product Benchmarking
10.4.4. Recent Development
10.5. Daikin Industries
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Product Benchmarking
10.5.4. Recent Development
10.6. ECR International
10.6.1. Company Overview
10.6.2. Financial Performance
10.6.3. Product Benchmarking
10.6.4. Recent Development
10.7. Ideal Heating
10.7.1. Company Overview
10.7.2. Financial Performance
10.7.3. Product Benchmarking
10.7.4. Recent Development
10.8. Ingersoll-Rand
10.8.1. Company Overview
10.8.2. Financial Performance
10.8.3. Product Benchmarking
10.8.4. Recent Development
10.9. Lennox International
10.9.1. Company Overview
10.9.2. Financial Performance
10.9.3. Product Benchmarking
10.9.4. Recent Development
10.10. Lochinvar
10.10.1. Company Overview
10.10.2. Financial Performance
10.10.3. Product Benchmarking
10.10.4. Recent Development
10.11.Mitsubishi Electric
10.11.1. Company Overview
10.11.2. Financial Performance
10.11.3. Product Benchmarking
10.11.4. Recent Development
10.12. Navien
10.12.1. Company Overview
10.12.2. Financial Performance
10.12.3. Product Benchmarking
10.12.4. Recent Development
10.13. Rheem Manufacturing
10.13.1. Company Overview
10.13.2. Financial Performance
10.13.3. Product Benchmarking
10.13.4. Recent Development
10.14. Superior Boiler
10.14.1. Company Overview
10.14.2. Financial Performance
10.14.3. Product Benchmarking
10.14.4. Recent Development
10.15. Vaillant Group
10.15.1. Company Overview
10.15.2. Financial Performance
10.15.3. Product Benchmarking
10.15.4. Recent Development
10.16. Viessmann
10.16.1. Company Overview
10.16.2. Financial Performance
10.16.3. Product Benchmarking
10.16.4. Recent Development

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