Residential Boiler Market Is Expected to Reach $12.5 Billion by 2031: Says AMR

Increase in demand for space and water heating systems across the world fuels the growth of the global residential boiler market. Based on technology, the condensing segment accounted for the major share in 2021. By region, on the other hand, the Asia-Pacific region would cite the fastest CAGR throughout the forecast period.


Portland, OR, Oct. 07, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global residential boiler market was estimated at $7.6 billion in 2021 and is expected to hit $12.5 billion by 2031, registering a CAGR of 5.2% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market. The report is exclusively meant to help the readers with a comprehensive valuation of industry analysis and trends.

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Report coverage & details:

Report Coverage Details
Forecast Period 2022­–2031
Base Year 2021
Market Size in 2021 $7.6 Billion
Market Size in 2031 $12.5 Billion
CAGR 5.2%
No. of Pages in Report 239
Segments Covered Type, Technology, Fuel Type, and Region.
Drivers Increase in demand for space and water heating systems
Restraints High cost associated with the installation and maintenance
Opportunities Technological advancement toward improving energy efficiency of residential boilers

Covid-19 scenario-

  • Halted activities in several industries such as building & construction, oil & gas, and transportation gave way to declined demand for heating appliances, which impacted the global residential boiler market negatively, especially during the initial period.
  • Drop in the LNG & crude oil prices also affected the market growth. However, the market has now reinstated its growth curve back.

The global residential boiler market is analyzed across type, technology, fuel type, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.

Based on type, the fire tube segment contributed to more than three-fifths of the global residential boiler market revenue in 2021, and is expected to dominate by 2031. The electric segment, however, would showcase the fastest CAGR 5.8% throughout the forecast period.

Based on technology, the condensing segment accounted for more than four-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also cite the fastest CAGR of 5.3% throughout the forecast period.

Based on fuel type, the gas fired segment garnered nearly three-fourths of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also project the fastest CAGR of 5.4% throughout the forecast period.

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Based on region, the market across Asia-Pacific generated around two-fifths of the total market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The Asia-Pacific region, however, would showcase the fastest CAGR of 5.7% during the forecast period. The other regions studied in the report include North America, LAMEA, and Europe.

The key market players analyzed in the global residential boiler market report include Bradford White Corporation, Burnham Holdings, Ferroli S.p.A, Viessmann Manufacturing Company, Inc., Noritz Corporation, Robert Bosch GmbH, Slant/Fin Corporation, SPX Corporation, Ariston Thermo SpA, and Lennox International.  These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players. 

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