USD 7.6 billion
Report ID: SQMIG10C2017 | Region: Global | Published Date: September, 2023 | Pages: 157 | Tables: 63 | Figures: 75
Global Residential Boiler Market size was valued at USD 7.6 billion in 2021 and is poised to grow from USD 8.55 billion in 2022 to USD 21.94 billion by 2030, at a CAGR of 12.5% during the forecast period (2023-2030).
The global residential boiler market stands as a captivating realm, where the pursuit of warmth and comfort intertwines with advancements in technology and sustainability.
As the demand for residential heating solutions continues to grow, the market embraces a diverse landscape of possibilities. Gas boilers, with their efficiency and affordability, dominate as the largest segment, catering to a wide spectrum of homeowners seeking reliable and accessible heating options.
Meanwhile, the market experiences a dynamic transformation with the rapid ascent of biomass boilers, recognized as the fastest growing segment. Fueled by environmental consciousness and the quest for sustainable living, biomass boilers offer an eco-friendly alternative, harnessing renewable resources to bring warmth and comfort to homes while reducing carbon footprints.
The market's trajectory is influenced by a convergence of factors, including energy efficiency regulations, technological innovations, and shifting consumer preferences.
As the world embraces the journey towards greener and more efficient heating solutions, the global residential boiler market promises a captivating tale of transformation, where warmth meets sustainability, and comfort finds harmony with responsible living.
Global Market Size
USD 7.6 billion
To get more reports on the above market click here to Buy The Report
The global residential boiler market is segmented by type, fuel, and region. By type, the market is segmented into gas boilers, oil boilers, and biomass boilers. By fuel, the market is segmented into natural gas, liquefied petroleum gas (LPG), and solid fuel. By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Analysis By Type
Amongst the radiant choices that grace this domain, two shine brightest, each weaving its magic to warm hearts and homes across the globe. Behold the largest segment - the gas boilers, reigning majestically with an astounding market share of 55%. Their allure lies in their efficiency, reliability, and widespread accessibility, captivating homeowners seeking a dependable and cost-effective heating solution.
Yet, on the horizon, emerges the fastest growing star - the biomass boilers. Ignited by the flames of sustainability and environmental consciousness, they bear witness to an awe-inspiring CAGR of 8.5%. With their ability to harness renewable resources and reduce carbon footprints, they paint an enchanting tapestry of eco-friendly warmth, enticing a growing legion of eco-conscious consumers seeking to harmonize comfort with responsible living. As the dance of gas boilers and the rise of biomass boilers interweave, the global residential boiler market beckons homeowners to embark on a journey of sustainable warmth and enduring allure. The charm of gas boilers' reliability stands tall, while the allure of biomass boilers' green embrace casts a spell of eco-consciousness, illuminating the path towards a greener and cozier future for homes worldwide.
Analysis By Fuel
Enter the enchanting realm of the global residential boiler market, where the warmth of innovation meets the magic of fuel diversity. Within this captivating domain, two segments reign supreme, each casting a spell of allure upon homeowners seeking the perfect blend of efficiency and sustainability. Behold the largest segment - the natural gas boilers, reigning with majestic splendor, commanding an impressive market share of 65%. Their charm lies in the abundance of natural gas reserves, making them widely accessible and cost-effective for countless households worldwide. With their efficient performance and lower greenhouse gas emissions, they are the trusted choice for discerning homeowners seeking a harmonious balance of comfort and responsible energy use.
Yet, on the horizon, emerges the fastest growing star - the solid fuel boilers, igniting a blaze of eco-conscious fervor with a breathtaking CAGR of 9%. Fueled by the desire for sustainable solutions, these boilers harness renewable resources like wood pellets and logs, leaving a gentle carbon footprint on the planet. As consumers embrace eco-friendly living, solid fuel boilers offer an enticing embrace, enchanting them with the promise of green warmth and a profound sense of environmental stewardship. As the dance of natural gas boilers and the rise of solid fuel boilers intertwine, the global residential boiler market beckons homeowners to embrace the beauty of choice.
To get detailed analysis on other segments, Request For Sample Report
Welcome to the enchanting realm of the global residential boiler market, where a symphony of warmth and innovation captivates homeowners worldwide. Amidst the diverse landscapes of this market, two regions stand out, each weaving its unique magic, shaping the industry's destiny. Behold the reigning dominion of the "Asia-Pacific" region, where a breathtaking transformation unfolds. With an awe-inspiring market share of 40%, this region reigns as the unchallenged emperor of the residential boiler market. Fuelled by a surging demand for modern heating solutions, the Asia-Pacific region embraces a thriving urbanization wave and a growing middle class, elevating the need for efficient and reliable residential boilers.
Yet, on the horizon, emerges the "fastest growing" star - the "Middle East and Africa." Like a radiant phoenix, this region soars with a mesmerizing CAGR of 8.5%, igniting a fervor for advanced heating technologies. As rising urbanization and industrialization redefine the landscape, the Middle East and Africa's demand for residential boilers escalates, driven by a desire for enhanced comfort and environmental consciousness. In this captivating dance of regions, the Asia-Pacific stands firm as the dominion of residential boiler demand, while the Middle East and Africa rise as the champions of growth and aspiration. Step into this bewitching symphony, where warmth meets ambition, and witness the radiant future that awaits the global residential boiler market.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Increasing Urbanization and Infrastructure Development
Government Initiatives for Environmental Sustainability
Availability of Alternative Heating Options
Fluctuating Fuel Prices
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
In the mesmerizing tapestry of the global residential boiler market, the competitive landscape unfolds with an enthralling display of innovation, expertise, and ambition. Here, a symphony of industry giants and nimble innovators compete for the hearts and trust of homeowners seeking the perfect warmth for their abodes. Established players like Bosch Thermotechnology, Viessmann Group, and A.O. Smith Corporation grace the stage, commanding attention with their legacy of reliability and advanced heating solutions. These stalwarts, with their vast global presence and extensive distribution networks, cast an aura of confidence and assurance in the minds of consumers. Alongside them, rising stars like Daikin Industries, BDR Thermea Group, and Ariston Thermo Group weave their magic, armed with cutting-edge technologies and a penchant for sustainability. In this enchanting dance, market players deploy strategic alliances, product expansions, and technological innovations to outshine one another.
Top Player’s Company Profiles
Focus on Comfort and User-Friendly Features
E-Commerce and Online Sales Channels
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, The global residential boiler market is a thriving and dynamic arena, where warmth and innovation converge to shape the future of home heating. Key market analysis reveals a landscape characterized by a growing demand for energy-efficient and eco-friendly heating solutions. Rising environmental awareness and the need to reduce carbon footprints are propelling the adoption of residential boilers that harness renewable energy sources, such as biomass and solar thermal systems. Additionally, the integration of smart technology and connectivity has elevated consumer expectations, as homeowners seek remote monitoring and control of their boilers for enhanced convenience and energy optimization. Government initiatives promoting energy efficiency and sustainability, coupled with the increasing focus on green building practices, are also driving market growth.
|Market size value in 2021||USD 7.6 billion|
|Market size value in 2030||USD 8.55 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Residential Boiler Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Residential Boiler Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Residential Boiler Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Residential Boiler Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.