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Global Electric Boiler Market Share, Report, Trends, Analysis, Growth, Forecast: By Product: Hot Water Boiler, Electric Steam Boiler; By Category: Traditional Electric Boilers, Smart Electric Boilers; By End-Use: Residential, Commercial, Industrial; By Distribution Channel: Online, Offline; Regional Analysis; Competitive Landscape; 2024-2032
Global Electric Boiler Market Outlook
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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Key Trends in the Market
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.
- The demand for electric boilers is anticipated to rise as the utilisation of energy-efficient heating systems increases. Electric boilers are gaining popularity and are quickly replacing traditional boiler technologies in order to reduce carbon emissions.
- Additionally, consumers are favouring electric heating options due to the rising costs of fossil fuels around the globe. This, in turn, is projected to positively impact the growth of the market for electric boilers over the upcoming years.
- One of the key electric boiler market trends is the growing need for space and water heating solutions, driven by increasing urbanisation, industrialisation, and population growth. The demand for boilers has significantly propelled across many commercial infrastructures, including schools, airlines, and government buildings.
Global Electric Boiler Market Analysis
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.
- 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
- Cerney S.A.
- Others
Global Electric Boiler Market Share by End-Use
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.
Global Electric Boiler Market Share by Region
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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Competitive Landscape
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.
Key Highlights of the Report
| 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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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Electric Boiler Market Analysis
8.1 Key Industry Highlights
8.2 Global Electric Boiler Historical Market (2018-2023)
8.3 Global Electric Boiler Market Forecast (2024-2032)
8.4 Global Electric Boiler Market by Product
8.4.1 Hot Water Boiler
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Electric Steam Boiler
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Electric Boiler Market by Category
8.5.1 Traditional Electric Boilers
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Smart Electric Boilers
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Electric Boiler Market by End-Use
8.6.1 Residential
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Commercial
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Industrial
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global Electric Boiler Market by Distribution Channel
8.7.1 Online
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Offline
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.8 Global Electric Boiler Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Electric Boiler Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Electric Boiler Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Electric Boiler Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Electric Boiler Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Electric Boiler Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Nibe Energy Systems Limited
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Elnur UK Ltd
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Precision Boilers, LLC
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Reimers Electra Steam, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Thermo 2000 Inc
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Acme Engineering Products Ltd.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 ACV UK Ltd
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Babcock Wanson Ltd
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Robert Bosch GmbH
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Cerney S.A.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Electric Boiler Market: Key Industry Highlights, 2018 and 2032
2. Global Electric Boiler Historical Market: Breakup by Product (USD Million), 2018-2023
3. Global Electric Boiler Market Forecast: Breakup by Product (USD Million), 2024-2032
4. Global Electric Boiler Historical Market: Breakup by Category (USD Million), 2018-2023
5. Global Electric Boiler Market Forecast: Breakup by Category (USD Million), 2024-2032
6. Global Electric Boiler Historical Market: Breakup by End-Use (USD Million), 2018-2023
7. Global Electric Boiler Market Forecast: Breakup by End-Use (USD Million), 2024-2032
8. Global Electric Boiler Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
9. Global Electric Boiler Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
10. Global Electric Boiler Historical Market: Breakup by Region (USD Million), 2018-2023
11. Global Electric Boiler Market Forecast: Breakup by Region (USD Million), 2024-2032
12. North America Electric Boiler Historical Market: Breakup by Country (USD Million), 2018-2023
13. North America Electric Boiler Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Europe Electric Boiler Historical Market: Breakup by Country (USD Million), 2018-2023
15. Europe Electric Boiler Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Asia Pacific Electric Boiler Historical Market: Breakup by Country (USD Million), 2018-2023
17. Asia Pacific Electric Boiler Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Latin America Electric Boiler Historical Market: Breakup by Country (USD Million), 2018-2023
19. Latin America Electric Boiler Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Middle East and Africa Electric Boiler Historical Market: Breakup by Country (USD Million), 2018-2023
21. Middle East and Africa Electric Boiler Market Forecast: Breakup by Country (USD Million), 2024-2032
22. Global Electric Boiler Market Structure
Key Questions Answered in the Report
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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