North America & Europe Electric Boilers Market to hit $1.58 billion by 2028, Says GMI

North America & Europe Electric Boilers Industry is expected to record over 7% CAGR between 2022 and 2028 helped by surging demand for hot water across the residential sector.

Selbyville, Delaware, UNITED STATES

Selbyville, Delaware, Jan. 26, 2022 (GLOBE NEWSWIRE) --

The North America & Europe electric boilers market is set to exceed USD 1.58 billion by 2028 as reported in the latest study by Global Market Insights Inc. owing to surging government progressive programs to upgrade existing boilers and the introduction of building energy codes. Favorable regulatory norms toward the minimization of carbon footprints coupled with increasing urbanization rates will positively sway the business scenario.

Increasing applicability across administrative centers, non-diagnostic medical centers, and banks will stimulate the 10 – 50 MMBtu/hr. electric boilers market growth. The expansion and upgrade of existing healthcare facilities in line with the replacement of existing heating units will complement the business landscape. Rising electricity demand along with growing fuel prices is further set to drive the industry expansion.

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Some prime findings of the North America & Europe electric boilers market report include:

  • North America & Europe electric boilers industry is growing rapidly owing to increasing space heating demand and rapid industrialization.
  • A positive outlook toward the chemical & food processing industries will foster the industry potential.
  • Increasing population & shift toward cleaner fuel sectors will augment the business outlook.
  • Leading players operating in the North America & Europe electric boilers market include Vaillant Group, Weil-McLain, Vapor Power International, and Sussman Automatic Corporation.
  • The ability to achieve higher temperature and high-pressure handling capacity are some of the underlying features that will foster the adoption of electric boilers.   

Browse key industry insights spread across 255 pages with 293 market data tables & 41 figures & charts from the report, “North America & Europe Electric Boilers Market, By Voltage Rating (Low Voltage (< 1 kV), Medium Voltage (1 kV to 69 kV), High Voltage (> 69 kV)), By Capacity (< 10 MMBtu/hr, 10 – 50 MMBtu/hr, 50 – 100 MMBtu/hr, 100 – 250 MMBtu/hr, > 250 MMBtu/hr), By Application (Residential, Healthcare, Offices, Institutions, Warehouse & Storage, Food & Beverage, Chemical), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2028”, in detail along with the table of contents:

The growing integration of clean energy sources along with automation of products has proliferated the North America & Europe electric boilers market. Extreme climatic events, such as below zero temperature, and surging adoption of heating systems across the industrial sector will fuel product demand. The introduction of stringent norms to curb carbon emissions coupled with the ongoing replacement of traditional heating units will positively sway product penetration.

U.S. electric boilers market is anticipated to surpass USD 330 million by 2028. Extreme climatic conditions have created a necessity for hot water systems, which in turn will stimulate the business landscape. States including New York, New Jersey, and California, amongst others have some of the biggest commercial & educational centers, driving the demand for boiler technologies.

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.


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