Report Code: CMI18064

Published Date: September 2022

Pages: 220+

Category: Machinery & Equipment

Report Snapshot

CAGR: 5.9%
9.5B
2021
9.8B
2022
12.6B
2030

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Ariston Group
  • BDR Thermea Group
  • Groupe Atlantic
  • Viessmann
  • Others

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Reports Description

According to Custom Market Insights (CMI), The Global Residential Boiler Market Size was valued at USD 9.5 billion in 2021 and is expected to reach USD 9.8 billion in 2022. is forecast to reach USD 12.6 billion by the end of 2030 at a CAGR of approximately 5.9% during the forecast period 2022-2030.

The residential boiler is a hydroponic heating system that is used in various residential buildings for water heating. The boiler device converts chemical energy into thermal energy. It consists of the components like heating coils, radiators, or baseboards that help to heat the water and maintain the temperature of the tank. The boilers are widely used across different places in residential sectors such as a house, farmhouses, public buildings, and other residential places. The boiler system has multiple advantages like high reliability, less pollution, prolonged shelf-life, easy maintenance, etc.

A boiler usually is situated on the top of a burner which contains certain fuels such as coal to produce heat. In countries like the US, natural gas is commonly used which is transferred across residential homes through pipelines that are spread across the roads. Whereas in rural areas, propane gas is used inside a large tank containing propane gas is kept in the house yard. There are two types of boiler systems that are available in the commercials, condensing and non-condensing boilers.

Growth Factors

Based on the historical records, the residential boiler market is likely to expand during the assessment period of 2022-2031. The increasing demand for heating boiler systems among residential sectors is estimated to propel the market. Along with that, the rapid urbanization and lifestyle preferences have shifted the customers toward residential heating systems, which is anticipated to increase the demand for heating equipment across residential sectors which will enhance the market growth.

Furthermore, the wide usage and construction of heating boiler systems across regions with harsher climate conditions is supposed to aid the market growth. The residential boiling systems are anticipated to grow at a high rate as a result of increasing preference.

As per the environmental concern regarding heat and pollution, the government promotes the adoption of environment-friendly residential boilers for sustainable living. This will ensure the reduction of the emission of harmful green gases.

Moreover, the rapid investments in research and development activities have led to the development of a modified version of boiler systems, driving the market growth.

Residential Boiler Market Segmentation

Market segmentation based on Type

Based on the type, the residential boiler market is bifurcated into a water tube, fire tube, and electric boiler. The fire tube boiler held the largest market share in 2021, the attributing factors are the increasing demand for tube boilers in case of space heating and water heating, widely used across residential places. Apart from that, the high demand for warm air and hot water in the cold regions of North America and Europe is expected to propel the market for the tube boiler segment in the forecast period.

Market segmentation based on Fuel Type

Based on fuel type, the residential boiler market is segmented as coal-fired, gas-fired, oil-fired, and others. Based on the revenue, the gas-fired segments held the largest market share accounting for 70.3% of the global share. The segment is further expected to witness significant growth during the forecast period. The growth can be attributed to the rise in demand for heating boiler systems across different residential sectors. Along with the increasing demand, it has several advantages such as safe operation, comfortable system, cost-effectiveness, environment friendliness, energy saving capacity, etc.

Gas boilers are either fuelled with propane gas or natural gas with some modifications due to their characteristics. Natural gas is widely used in developed or developing regions, while propane gas is widely used in village areas where the furnaces are kept filled with propane gas across the yard of the house. The propane is transferred to the large tank via truck. The capacity of the large tank is around 500 gallons. As compared to natural gas, propane is a more expensive fuel.  On the other hand, natural gas boilers are widely used in industrial sectors and are constructed to tolerate high temperatures and thermal resistance.

Global Residential Boiler Market 2023 – 2032 (By Fuel Type)

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Market segmentation based on Technology

Based on the technological aspect, the residential boiler market is segmented into condensing and non-condensing segments. The condensing segment has dominated the market in 2021 and is expected to have significant growth during the forecast period.  It is due to the rise in demand for heat-efficient and energy-efficient heating products that consume less amount of fuel. The other benefits contributing to this segment’s growth are carbon footprint reduction, high efficiency, acquiring less space, cost-effectiveness, etc.

Condensing boilers are widely used across different regions due to their high heating efficiency and minimal energy wastage capacity. Condensing boilers are the type of water heaters that are either fuelled by oil or gas. The fuel is burned and the gases are released and cross through the heat exchanger through which the water inside the container gets heated. Nowadays condensing systems are developed using advanced techniques which can fully replace conventional systems. These systems are widely used in regions like North America and Europe as central heating systems. However, the condensing boiler systems are referred to as less reliable than other boilers. Therefore, it is important to understand the proper function of the system to make it work efficiently.

Report Scope

Feature of the Report Details
Market Size in 2021 USD 9.5 billion
Projected Market Size in 2030 USD 12.6 billion
CAGR Growth Rate 5.9% CAGR (2022-2030)
Base Year 2023
Forecast Period 2024-2033
Prominent Players Ariston Group, BDR Thermea Group, Groupe Atlantic, Viessmann, Vaillant Group, Robert Bosch, Ideal Heating, Unical Ag Spa, Daikin Industries, A.O. Smith Corp, Bradford White Corporation, Ferroli S.p.A., and Others
Key Segment By Type, Fuel Type, Technology, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Regional Insights

Based on the geographical distribution, the residential boiler market is distributed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific held the largest market share in 2021 and continues to dominate the market with a CAGR rate of 5.9% during the forecasting period.

High demand for domestic water heating systems across residential areas of APAC such as homes, farmhouses, public buildings, etc. drives the market growth in such regions. Furthermore, the advantageous properties of the system like prolonged shelf-life, high reliability, and cost-effectiveness have led to the rapid adoption of the boiler systems across the developing regions increasing the market value. Recently, residential boiler systems have gained a wide response from homes and apartments due to their efficient heating capabilities and other supportive factors. Apart from that, the increasing construction of different industries across developing regions like China and India, have ultimately led to the high demand for residential boiler systems.

Key market players in Residential Boiler Market

The emerging market competition along with the increasing demand for residential boiler systems has led to the indulgence of prominent key players in the market. The key players tend to enhance their products to enhance their market value as well as economic aspects.

Global Residential Boiler Market 2023 – 2032 (By Billion)

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The profiled key companies:

  • Ariston Group
  • BDR Thermea Group
  • Groupe Atlantic
  • Viessmann
  • Vaillant Group
  • Robert Bosch
  • Ideal Heating
  • Unical Ag Spa
  • Daikin Industries
  • O. Smith Corp
  • Bradford White Corporation
  • Ferroli S.p.A.

Impact of COVID-19 on Residential Boiler Market

The outbreak of COVID-19 harmed the residential boiler market on a global scale. This can be attributed to the temporary shutdown of manufacturing industries and construction activities, which severely impacted the boiler market. The lack of construction and maintenance activities has led to a decrease in demand for the residential market across residential sectors.

Recent Developments in Residential Boiler Market

  • On October 2021, A.O. Smith Corp. has taken Giant Factories Inc., a Canadian water heater manufacturer to develop water heaters for residential and commercial sectors. This acquisition also promotes market penetration across North America and enhances the market value across such regions.
  • In June 2021, Viessmann, a hydronic heat manufacturing company, announced its newly developed products to be launched at an upcoming event. The new products are expected to have new advanced techniques associated with digital applications that could attract homeowners and contractors.
  • In April 2021, Weil-McLain announced a partnership with the plumbing and mechanical firm for the construction of a hydronic heating system. Weil-McLain is the leading North American designer who created the heating system.
  • In April 2021, Mestek Inc. announced the involvement of baseboard assets of Slant/Fin, which is leading the construction of the hydronic baseboard radiation. The Mestek itself manufactures specialized heating and air conditioning systems for industrial, residential, and commercial spaces.
  • Noritz Corporation acquired a manufacturer of high-efficiency, stainless-steel boilers, LLC, to strengthen its position in the heating equipment industry. Noritz is an American-based company that was constructed in 2001 for the development of environment-friendly water heater technology.

Global Residential Boiler Market 2023 – 2032 (By Technology)

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Market segments covered in the Report

By Type

  • Water Tube Boiler
  • Fire Tube Boiler
  • Electric Boiler

By Fuel Type

  • Coal Fired
  • Oil Fired
  • Gas Fired
  • Others

By Technology

  • Condensing
  • Non-condensing

On the basis of Geography

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Residential Boiler Market, (2022 – 2030) (USD Billion)
    • 2.2 Global Residential Boiler Market: snapshot
  • Chapter 3. Global Residential Boiler Market – Industry Analysis
    • 3.1 Residential Boiler Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Heating Systems In Cold Regions
      • 3.2.2 Rapid Urbanization And Lifestyle Preferences
      • 3.2.3 Customers Toward Residential Heating Systems
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Fuel
      • 3.7.3 Market attractiveness analysis By Technology
  • Chapter 4. Global Residential Boiler Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Residential Boiler Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Residential Boiler Market – Type Analysis
    • 5.1 Global Residential Boiler Market overview: By Type
      • 5.1.1 Global Residential Boiler Market share, By Type, 2021 and 2030
    • 5.2 Water Tube Boiler
      • 5.2.1 Global Residential Boiler Market by Water Tube Boiler, 2022 – 2030 (USD Billion)
    • 5.3 Fire Tube Boiler
      • 5.3.1 Global Residential Boiler Market by Fire Tube Boiler, 2022 – 2030 (USD Billion)
    • 5.4 Electric Boiler
      • 5.4.1 Global Residential Boiler Market by Electric Boiler, 2022 – 2030 (USD Billion)
  • Chapter 6. Global Residential Boiler Market – Fuel Analysis
    • 6.1 Global Residential Boiler Market overview: By Fuel
      • 6.1.1 Global Residential Boiler Market share, By Fuel, 2021 and 2030
    • 6.2 Coal Fired
      • 6.2.1 Global Residential Boiler Market by Coal Fired, 2022 – 2030 (USD Billion)
    • 6.3 Oil Fired
      • 6.3.1 Global Residential Boiler Market by Oil Fired, 2022 – 2030 (USD Billion)
    • 6.4 Gas Fired
      • 6.4.1 Global Residential Boiler Market by Gas Fired, 2022 – 2030 (USD Billion)
    • 6.5 Others
      • 6.5.1 Global Residential Boiler Market by Others, 2022 – 2030 (USD Billion)
  • Chapter 7. Global Residential Boiler Market – Technology Analysis
    • 7.1 Global Residential Boiler Market overview: By Technology
      • 7.1.1 Global Residential Boiler Market share, By Technology, 2021 and 2030
    • 7.2 Condensing
      • 7.2.1 Global Residential Boiler Market by Condensing, 2022 – 2030 (USD Billion)
    • 7.3 Non-condensing
      • 7.3.1 Global Residential Boiler Market by Non-condensing, 2022 – 2030 (USD Billion)
  • Chapter 8. Residential Boiler Industry – Regional Analysis
    • 8.1 Global Residential Boiler Industry Regional Overview
    • 8.2 Global Residential Boiler Industry Share, by Region, 2021 & 2030 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America Residential Boiler Industry, 2022 – 2030 (USD Billion)
        • 8.3.1.1 North America Residential Boiler Industry, by Country, 2022 – 2030 (USD Billion)
    • 8.4 North America Residential Boiler Industry, by Type, 2022 – 2030
      • 8.4.1 North America Residential Boiler Industry, by Type, 2022 – 2030 (USD Billion)
    • 8.5 North America Residential Boiler Industry, by Fuel, 2022 – 2030
      • 8.5.1 North America Residential Boiler Industry, by Fuel, 2022 – 2030 (USD Billion)
    • 8.6 North America Residential Boiler Industry, by Technology, 2022 – 2030
      • 8.6.1 North America Residential Boiler Industry, by Technology, 2022 – 2030 (USD Billion)
    • 8.7. Europe
      • 8.7.1 Europe Residential Boiler Industry, 2022 – 2030 (USD Billion)
        • 8.7.1.1 Europe Residential Boiler Industry, by Country, 2022 – 2030 (USD Billion)
    • 8.8 Europe Residential Boiler Industry, by Type, 2022 – 2030
      • 8.8.1 Europe Residential Boiler Industry, by Type, 2022 – 2030 (USD Billion)
    • 8.9 Europe Residential Boiler Industry, by Fuel, 2022 – 2030
      • 8.9.1 Europe Residential Boiler Industry, by Fuel, 2022 – 2030 (USD Billion)
    • 8.10 Europe Residential Boiler Industry, by Technology, 2022 – 2030
      • 8.10.1 Europe Residential Boiler Industry, by Technology, 2022 – 2030 (USD Billion)
    • 8.11. Asia Pacific
      • 8.11.1 Asia Pacific Residential Boiler Industry, 2022 – 2030 (USD Billion)
        • 8.11.1.1 Asia Pacific Residential Boiler Industry, by Country, 2022 – 2030 (USD Billion)
    • 8.12 Asia Pacific Residential Boiler Industry, by Type, 2022 – 2030
      • 8.12.1 Asia Pacific Residential Boiler Industry, by Type, 2022 – 2030 (USD Billion)
    • 8.13 Asia Pacific Residential Boiler Industry, by Fuel, 2022 – 2030
      • 8.13.1 Asia Pacific Residential Boiler Industry, by Fuel, 2022 – 2030 (USD Billion)
    • 8.14 Asia Pacific Residential Boiler Industry, by Technology, 2022 – 2030
      • 8.14.1 Asia Pacific Residential Boiler Industry, by Technology, 2022 – 2030 (USD Billion)
    • 8.15. Latin America
      • 8.15.1 Latin America Residential Boiler Industry, 2022 – 2030 (USD Billion)
        • 8.15.1.1 Latin America Residential Boiler Industry, by Country, 2022 – 2030 (USD Billion)
    • 8.16 Latin America Residential Boiler Industry, by Type, 2022 – 2030
      • 8.16.1 Latin America Residential Boiler Industry, by Type, 2022 – 2030 (USD Billion)
    • 8.17 Latin America Residential Boiler Industry, by Fuel, 2022 – 2030
      • 8.17.1 Latin America Residential Boiler Industry, by Fuel, 2022 – 2030 (USD Billion)
    • 8.18 Latin America Residential Boiler Industry, by Technology, 2022 – 2030
      • 8.18.1 Latin America Residential Boiler Industry, by Technology, 2022 – 2030 (USD Billion)
    • 8.19. The Middle-East and Africa
      • 8.19.1 The Middle-East and Africa Residential Boiler Industry, 2022 – 2030 (USD Billion)
        • 8.19.1.1 The Middle-East and Africa Residential Boiler Industry, by Country, 2022 – 2030 (USD Billion)
    • 8.20 The Middle-East and Africa Residential Boiler Industry, by Type, 2022 – 2030
      • 8.20.1 The Middle-East and Africa Residential Boiler Industry, by Type, 2022 – 2030 (USD Billion)
    • 8.21 The Middle-East and Africa Residential Boiler Industry, by Fuel, 2022 – 2030
      • 8.21.1 The Middle-East and Africa Residential Boiler Industry, by Fuel, 2022 – 2030 (USD Billion)
    • 8.22 The Middle-East and Africa Residential Boiler Industry, by Technology, 2022 – 2030
      • 8.22.1 The Middle-East and Africa Residential Boiler Industry, by Technology, 2022 – 2030 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 Ariston Group
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 BDR Thermea Group
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 Groupe Atlantic
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 Viessmann
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Vaillant Group
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Robert Bosch
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 Ideal Heating
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Unical Ag Spa
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Daikin Industries
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 A.O. Smith Corp
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 Bradford White Corporation
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments
    • 9.12 Ferroli S.P.A
      • 9.12.1 Overview
      • 9.12.2 Financials
      • 9.12.3 Product Portfolio
      • 9.12.4 Business Strategy
      • 9.12.5 Recent Developments

List Of Figures

Figures No 1 to 25

List Of Tables

Tables No 1 to 77

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2028
  • Market revenue estimates and forecasts up to 2028, by technology
  • Market revenue estimates and forecasts up to 2028, by application
  • Market revenue estimates and forecasts up to 2028, by type
  • Market revenue estimates and forecasts up to 2028, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

along with the increasing demand for residential boiler systems has led to the indulgence of prominent key players in the market. The key players tend to enhance their products to enhance their market value as well as economic aspects.

The profiled key companies:

  • Ariston Group
  • BDR Thermea Group
  • Groupe Atlantic
  • Viessmann
  • Vaillant Group
  • Robert Bosch
  • Ideal Heating
  • Unical Ag Spa
  • Daikin Industries
  • O. Smith Corp
  • Bradford White Corporation
  • Ferroli S.p.A.
  • Others

FAQs

The “Asia-Pacific” region will lead the global Residential Boiler market during the forecast period 2022 to 2030.

The key factor driving the market is heating systems in cold regions.

The key players operating in the Residential Boiler market are Ariston Group, BDR Thermea Group, Groupe Atlantic, Viessmann, Vaillant Group, Robert Bosch, Ideal Heating, Unical Ag Spa, Daikin Industries, A.O. Smith Corp, Bradford White Corporation, Ferroli S.p.A.

The global Residential Boiler market is expanding growth with a CAGR of approximately 5.9% during the forecast period (2022 to 2030).

The global Residential Boiler market size was valued at USD 9.5 billion in 2021 and it is projected to reach around USD 12.6 billion by 2030.

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