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The global electric boiler market size reached a value of around USD 9.64 billion in 2023. The market is further expected to grow at a CAGR of 9.4% between 2024 and 2032, reaching a value of around USD 21.71 billion by 2032.
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An electric boiler is a device that heats water or steam, running on electricity instead of combustible fossil fuels like gas or oil. Electric boilers work by forcing flowing water through a heated element that is powered by electricity. They convert electrical energy into thermal energy to facilitate the process of heating water.
Based on product, the market is divided into hot water boiler and electric steam boiler. The electric boiler market segmentation, based on category, is traditional electric boilers and smart electric boilers. On the basis of end-use, the market is categorised into residential, commercial, and industrial. The market on the basis of distribution channel is bifurcated into online and offline. The regional markets for electric boiler are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global electric boiler market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
Globally, the need for space heating is growing, which is driving up demand for electric boilers in the residential sector. Residential buildings are a significant source of carbon emissions and are rapidly adopting electric systems for energy optimisation and consumption control, increasing the demand for electric boilers in residential end uses. Meanwhile, industrial end-uses of electric boilers are anticipated to witness steady growth in the coming years as more industries invest in efficient and sustainable heating solutions.
At a regional level, North America is expected to grow significantly in the market for electric boilers due to the strict decarbonisation goals and emission reduction targets. Ambitious net-zero emission targets have been established by countries such as the United States and Canada, incentivising the conversion of residential, commercial, and industrial infrastructures from fossil fuel to electric systems. Due to the extensive cold weather in parts of North America, there is a steady demand for heating, which is anticipated to further support the electric boiler market growth in the region.
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Nibe Energy Systems Limited, established in 2006 with its headquarters in Derbyshire, England, is one of the top producers of home heating equipment. They provide cutting-edge solutions for heating, ventilation, cooling, and heat recovery that correspond to the current demand for environmentally friendly building.
Elnur UK Ltd, founded in 1973 and headquartered in Lancashire, England is one of the top suppliers of effective heating systems. The company has gained international recognition and is one of the most forward-thinking producers of electric heating systems.
Precision Boilers, LLC, established in 1946, is a manufacturer of industrial-grade boilers and accessories for use in a wide range of applications. Headquartered in Tennessee in the United States, the company's custom engineered solutions are used in nuclear power plants, hospitals, and food processing facilities.
Other market players include Reimers Electra Steam, Inc., Thermo 2000 Inc, Acme Engineering Products Ltd., ACV UK Ltd, Babcock Wanson Ltd, Robert Bosch GmbH, and Cerney S.A., among others.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Category |
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| Breakup by End-Use |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global market for electric boilers attained a value of USD 9.64 billion.
The market is projected to grow at a CAGR of 9.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 21.71 billion by 2032.
The major drivers of the market include the growing energy consumption across residential sectors and increasing demand for space heating across various commercial infrastructures.
The rising adoption of energy-efficient heating systems and surging costs of fossil fuels are the key trends propelling the growth of the market.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The primary products of electric boilers in the market are hot water boiler and electric steam boiler.
The major players in the electric boiler market are Nibe Energy Systems Limited, Elnur UK Ltd, Precision Boilers, LLC, Reimers Electra Steam, Inc., Thermo 2000 Inc, Acme Engineering Products Ltd., ACV UK Ltd, Babcock Wanson Ltd, Robert Bosch GmbH, and Cerney S.A., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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