Residential Boiler Market Size- By Type Tube, By Capacity, By Fuel, By Technology- Regional Outlook, Competitive Strategies and Segment Forecast to 2032

Residential Boiler Market Size- By Type Tube, By Capacity, By Fuel, By Technology- Regional Outlook, Competitive Strategies and Segment Forecast to 2032

Global Residential Boiler Market Overview

According to SPER Market Research, the Global Residential Boiler Market is estimated to reach USD 13.60 billion by 2032 with a CAGR of 5.43%. A residential boiler is a type of heating equipment that creates heat for water heating and space heating uses. It can be utilised in commercial applications by expanding its capacity. In general, residential boiler systems are hot water boiler systems. Natural gas is the most often utilised fuel in household boilers. Propane is an alternate fuel if natural gas is not accessible and is more expensive when compared to natural gas. Domestic boilers are often used to heat water for bathing and cooking. Condensing and non-condensing technologies are both employed in home boiler systems.

Impact of COVID-19 on the Global Residential Boiler Market

The global residential boiler market has been significantly impacted by the COVID-19 pandemic. Positive and negative effects have both had an impact on the market. On the one hand, the pandemic's spike in the number of individuals staying at home has increased demand for domestic boilers. Residential boiler demand has grown as more individuals work from home and spend more time at home, which has raised demand for heating and hot water. Furthermore, the installation of energy-efficient boilers has been promoted by government stimulus programmes and incentives, fueling the market's expansion.

Scope of the Report:

Report Metric Details
Market size available for years 2019-2032
Base year considered 2021
Forecast period 2022-2032

Segments coveredBy Type Tube, By Capacity, By Fuel, By Technology.

Regions coveredAsia-Pacific, Europe, Middle East and Africa, North America, Latin America

Companies Covered
Ariston Thermo S.p.A, Bradford White Corporation, Ferroli S.p.A, Lennox International, Noritz Corporation, Robert Bosch GmbH, Slant/Fin Corporation, SPX Corporation, Vaillant Group.

Global Residential Boiler Market Segmentation:

By Type Tube:Based on the Type Tube, Global Residential Boiler Market is segmented as; Electric Tube, Fire Tube, Water Tube.

By Technology:Based on the Technology, Global Residential Boiler Market is segmented as; Condensing, Non-Condensing

By Region:The Asia-Pacific area generates the most money. This is due to economies such as China, India, Japan, South Korea, and Australia making efforts to reduce greenhouse gas emissions, increasing investment in green buildings, and adopting efficient heating products, which are expected to fuel the growth of the Asia-Pacific residential boiler market in the coming years.