Global Domestic Boilers Market Size (2024 - 2029)

The Global Domestic Boilers Market is experiencing growth driven by an increasing number of households and the demand for energy-efficient heating solutions, influenced by climate change and renewable energy awareness. The market's expansion is supported by the declining cost of natural gas and new government regulations on emissions, which encourage the development and adoption of more efficient boilers. Additionally, the need to replace traditional boilers with advanced systems is rising, particularly in response to energy conservation targets set by governmental bodies. However, the market faces challenges due to potential downtime issues highlighted by the COVID-19 pandemic and the need for infrastructure improvements.

Market Size of Global Domestic Boilers Industry

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:
Global Domestic Boilers Market Overview
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 7.10 %
Fastest Growing Market Asia-Pacific
Largest Market Europe
Market Concentration Medium

Major Players

Global Domestic Boilers Market Major Players

*Disclaimer: Major Players sorted in no particular order

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

Domestic Boilers Market Analysis

The Global Domestic Boilers Market is expected to register a CAGR of less than 7.1% during the forecasted period 2022-2027. The growth in Global Domestic Boilers Market is attributed to the increasing number of households globally. Moreover, an increasing need for heaters due to climate change across various regions globally.

  • The rising awareness about the benefits of renewable energy sources and increasing demand for energy-efficient products are the major factors driving the market. The market is also driven by factors such as growing population and increasing demand for heating systems in developing countries.
  • The decline in the cost of natural gas is expected to promote the adoption of domestic boilers globally. Similarly, the new regulations on emissions by various governments across the globe have led to the development of more efficient boilers to be installed. The market growth is further attributed to the rising concerns toward carbon emissions along with the increasing penetration of integrated space & water heating solutions globally.
  • The COVID-19 pandemic has highlighted the importance of building infrastructure and its ability to help people stay healthy during the pandemic. Due to the imposition of the lockdown due to Covid-19, the boiler units have the chances of occurrence of downtime corrosion in boilers globally.
  • Moreover, vendors in the market are introducing new products to replace traditional boilers globally. For instance, in January 2022, Vattenfall announced the launch of a high-temperature heat pump that enables fossil-free living within one generation. According to the company, heating accounts for 37% of the UK's carbon emission, and with the product being deployed in the Region, the company aims to decarbonize heating in suburban or rural areas of Europe.
  • Moreover, the replacement of existing boilers equipment with better-performing ones is expected to rise in commercial, residential, and industrial sectors to abide by energy conservation targets set by the European Union and other government bodies globally. Such initiatives by the government are expected to negatively hamper the growth of domestic boiler and increase the need for the replacement of boilers globally.

Domestic Boilers Industry Segmentation

A boiler is a system for heating and supplying hot water. Domestic boilers are used for heating water which is used to supply a central heating system and hot water for taps. Boilers are generally fuelled by liquid petroleum gas (LPG), wood, coal, oil, and electricity.

The Global Domestic Boilers Market is segmented By Type (Condensing and Non-Condensing), and Geography.

By Type
Condensing
Non-Condensing
By Geography
North America
Europe
Asia-Pacific
Middle East and Africa
Need A Different Region Or Segment?
Customize Now

Global Domestic Boilers Market Size Summary

The Global Domestic Boilers Market is poised for significant growth, driven by an increasing number of households and the rising demand for heating solutions due to climate change. The market is further propelled by the growing awareness of renewable energy benefits and the demand for energy-efficient products. Factors such as the decline in natural gas costs and new emission regulations are encouraging the adoption of more efficient boilers. The COVID-19 pandemic has underscored the importance of infrastructure, highlighting the need for modernized heating solutions. Vendors are innovating with new products, such as high-temperature heat pumps, to replace traditional boilers and meet decarbonization goals. The replacement of existing boiler systems with advanced, cost-effective solutions is expected to rise, supported by technological advancements and government initiatives aimed at energy conservation.

In the Asia-Pacific region, the domestic boiler market is experiencing growth due to increased gasification and environmental policy adoption. Government initiatives in countries like India and China are driving demand, alongside the rising popularity of smart home technologies that integrate domestic boilers with other electronic devices. The market is characterized by intense competition, with key players like A.O. Smith, Bosch Thermotechnology Ltd, and Vaillant Group actively investing in strategic partnerships and innovations. The introduction of zero-emission and hydrogen-ready boilers reflects the industry's shift towards sustainable solutions, aligning with global efforts to phase out fossil fuel systems. As urbanization and infrastructure development continue, the demand for domestic boilers is expected to expand, particularly in residential refurbishment and new construction projects.

Explore More

Global Domestic Boilers Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Introduction to Market Dynamics

    2. 1.2 Market Drivers

      1. 1.2.1 Growing Need For Heaters Due To Climate Change Across Various Regions

      2. 1.2.2 Growth Are Rise In The Number Of Households

    3. 1.3 Market Challenges

      1. 1.3.1 Decrease In The Use Of Fossil Fuels Such As Coal And Natural Gas Could Affect The Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Condensing

      2. 2.1.2 Non-Condensing

    2. 2.2 By Geography

      1. 2.2.1 North America

      2. 2.2.2 Europe

      3. 2.2.3 Asia-Pacific

      4. 2.2.4 Middle East and Africa

Global Domestic Boilers Market Size FAQs

The Global Domestic Boilers Market is projected to register a CAGR of less than 7.10% during the forecast period (2024-2029)

A.O. Smith, Bosch Thermotechnology Ltd, Vaillant Group, Ideal Heating and Suntec Energy Systems are the major companies operating in the Global Domestic Boilers Market.

Global Domestic Boilers Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)