Global Residential Boiler Market Size, Share, Growth Analysis, By Type(Gas boilers, oil boilers), By Fuel(Natural gas, liquefied petroleum gas (LPG))

Description

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 exists as an intriguing domain, where the quest for coziness and well-being converges with technological progress and ecological consciousness. This sector represents the fusion of contemporary innovation and the essential need for warmth in homes. Amid the evolving landscape of energy-efficient solutions, residential boilers play a pivotal role in providing both comfort and sustainability. This confluence embodies the industry's endeavor to harmonize modern living with responsible resource utilization.

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.

Enter the enchanting global residential boiler market, where warmth and innovation harmonize in homes worldwide. Amidst its diverse landscapes, two regions shine: the dominant "Asia-Pacific," commanding a 40% market share due to urbanization and middle-class growth, and the fastest-growing "Middle East and Africa," with an impressive 8.5% CAGR. As urbanization and awareness redefine demand, the symphony of regions unfolds, with Asia-Pacific reigning in demand, while the Middle East and Africa herald growth and aspiration.

Drivers

Increasing Urbanization and Infrastructure Development

The swift urbanization and ongoing construction of residential structures play a pivotal role in driving the surge in demand for residential boilers. As urban areas expand and cities grow, the requirement for efficient and dependable heating solutions in contemporary households intensifies. This escalating demand stems from the essential need to ensure comfortable living conditions in modern homes, particularly in regions experiencing rapid urban development. Residential boilers stand as a fundamental component in meeting these heating needs, positioning them at the forefront of catering to the evolving preferences and necessities of urban dwellers.

Restraints

Availability of Alternative Heating Options

Homeowners today are presented with a diverse array of heating alternatives, including electric heaters, heat pumps, and solar systems. These options can potentially pose competition for residential boilers, especially in areas rich in renewable energy resources. The prevalence of such alternatives, particularly in regions where sustainable energy sources are abundant, underscores the growing emphasis on environmentally friendly and energy-efficient heating solutions. As environmental awareness grows and technology advances, homeowners are increasingly drawn to these alternatives, influencing the dynamics of the residential heating market and compelling residential boiler manufacturers to innovate and enhance their offerings to remain competitive.

Key Market Trends

Focus on Comfort and User-Friendly Features

In their quest for ideal residential heating solutions, homeowners are in pursuit of residential boilers that encompass more than just energy efficiency; they also prioritize heightened comfort and user-friendly attributes. Attributes such as quiet operation, swift heating response, and intuitive controls stand as pivotal factors in the minds of consumers. The desire for an uninterrupted and peaceful living environment, coupled with the need for swift and reliable heating, drives the demand for boilers that seamlessly integrate these qualities. Manufacturers and providers who align with these expectations can position themselves to meet the discerning needs of homeowners in an evolving residential heating landscape.

Product Code: SQMIG10C2017

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics

Drivers
Opportunities
Restraints
Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics

Drivers
Opportunities
Restraints
Challenges
- Regulatory Landscape
- Porters Analysis
Competitive rivalry
Threat of Substitute Products
Bargaining Power of Buyers
Threat of New Entrants
Bargaining Power of Suppliers
- Skyquest Special Insights on Future Disruptions
Political Impact
Economic Impact
Social Impact
Technical Impact
Environmental Impact
Legal Impact

Global Residential Boiler Market by Type

Market Overview
Gas boilers
oil boilers
and biomass boilers

Global Residential Boiler Market by Fuel

Market Overview
Natural gas
liquefied petroleum gas (LPG)
and solid fuel

Global Residential Boiler Market Size by Region

Market Overview
North America

USA
Canada
- Europe
Germany
Spain
France
UK
Rest of Europe
- Asia Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
- Latin America
Brazil
Rest of Latin America
- Middle East & Africa (MEA)
GCC Countries
South Africa
Rest of MEA
Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies

By Development
By Company
By Year
- Recent Activities in the Market
- Key Companies Market Share (%), 2021
Key Company Profiles

Bosch Thermotechnology - Germany

Company Overview
Business Segment Overview
Financial Updates
Key Developments
- Viessmann Group - Germany
Company Overview
Business Segment Overview
Financial Updates
Key Developments
- A.O. Smith Corporation - United States
Company Overview
Business Segment Overview
Financial Updates
Key Developments
- Daikin Industries - Japan
Company Overview
Business Segment Overview
Financial Updates
Key Developments
- BDR Thermea Group - Netherlands
Company Overview
Business Segment Overview
Financial Updates
Key Developments
- Ariston Thermo Group - Italy
Company Overview
Business Segment Overview
Financial Updates
Key Developments
- Lennox International Inc. - United States
Company Overview
Business Segment Overview
Financial Updates
Key Developments
- Bradford White Corporation - United States
Company Overview
Business Segment Overview
Financial Updates
Key Developments
- Ferroli S.p.A. - Italy
Company Overview
Business Segment Overview
Financial Updates
Key Developments
- Weil-McLain - United States
Company Overview
Business Segment Overview
Financial Updates
Key Developments
- NIBE Industrier AB - Sweden
Company Overview
Business Segment Overview
Financial Updates
Key Developments
- Groupe Atlantic - France
Company Overview
Business Segment Overview
Financial Updates
Key Developments
- Wolf GmbH - Germany
Company Overview
Business Segment Overview
Financial Updates
Key Developments
- Buderus - Germany
Company Overview
Business Segment Overview
Financial Updates
Key Developments
- SIME - Italy
Company Overview
Business Segment Overview
Financial Updates
Key Developments
- Rinnai Corporation - Japan
Company Overview
Business Segment Overview
Financial Updates
Key Developments
- ECR International Inc. - United States
Company Overview
Business Segment Overview
Financial Updates
Key Developments
- Vaillant Group - Germany
Company Overview
Business Segment Overview
Financial Updates
Key Developments
- Midea Group - China
Company Overview
Business Segment Overview
Financial Updates
Key Developments
- State Industries - United States
Company Overview
Business Segment Overview
Financial Updates
Key Developments

Global Residential Boiler Market Size, Share, Growth Analysis, By Type(Gas boilers, oil boilers), By Fuel(Natural gas, liquefied petroleum gas (LPG)) - Industry Forecast 2023-2030