APAC Electric Boiler Market Size
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To obtain important market trends
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| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Asia Pacific Electric Boiler Market Size in 2022 | USD 2.2 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 12.9% |
| 2032 Value Projection | USD 7.5 Billion |
| Historical Data for | 2019 to 2022 |
| No. of Pages | 200 |
| Tables, Charts & Figures | 459 |
| Segments covered | Capacity, Voltage Rating, Application |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
COVID– 19 Impact
The electric boiler industry has undergone substantial changes in terms of installation owing to the COVID- 19 pandemic, experiencing unparalleled supply chain disruptions and a significant decline in demand. As hospitalization rates surged, government enforced stringent lockdowns, leading to the halt of operations in numerous manufacturing sectors. The post-pandemic period has witnessed a resurgence in the adoption of electric boilers, driven by increasing initiatives to minimize carbon emissions and transition towards clean energy solutions.
Asia Pacific Electric Boiler Market Trends
Surging investments by the public & private players toward the development of healthcare sector will energize the business dynamics. The industry is set to witness an upsurge owing to robust construction of new hospitals, nursing homes, and clinics along with ongoing refurbishment of existing infrastructure to incorporate more patients. Moreover, the growing popularity of boilers for space and water heating across various commercial establishments including federal institutions, universities, schools, and airports, will positively influence the business outlook. Moreover, there is a seasonal demand for hot water & steam from hot humid regions, especially during winters, accelerating the industry potential.
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Asia Pacific Electric Boiler Voltage Market Analysis
Learn more about the key segments shaping this market
The medium voltage electric boiler market size is posed to observe 13.4% CAGR through 2032. Enforced legislative requirements aimed at reducing greenhouse gas emissions, combined with the continued uptake of low emission heating systems, are set to fuel the demand for these products. The implementation of energy-efficient regulations and standards designed to enhance energy efficiency will additionally encourage the adoption of these advanced heating technologies. These compact boiler systems entail minimal maintenance, leading to reduced operational costs.
Furthermore, they exhibit lower emissions and residues compared to traditional boilers, which contributes to their increasing adoption across various sectors. The rising need to replace inefficient heating methods will also contribute favorably to the expansion of the industry.
Learn more about the key segments shaping this market
The ≤ 10 MMBtu/hr electric boiler market holds over 80% of revenue share in 2022. Increasing applicability across commercial & industrial facilities including healthcare, primary metal manufacturing, pulp industries and refineries will favor the industry scenario. Rising concerns regarding carbon emissions along with achieving energy efficiency have compelled regulators to formulate stringent norms, thereby increasing the demand for these boilers.
The commercial electric boiler industry is expected to surpass USD 1.2 billion by 2032. The ongoing upgradation of existing healthcare facilities along with wide scale utilization of product across lodging sector and retail stores will propel the industry growth. Stern development of green buildings along with flourishing real estate sector will accelerate the business potential. Increasing demand for energy efficient heating systems coupled with the growing measures toward energy conservation will drive the market. In addition, ongoing replacement of the existing heating units coupled with the legislations enacted for the adoption of efficient boilers will further complement the industry outlook.
Looking for region specific data?
The China electric boiler market size dominated around USD 1.2 billion in 2022. Enactment and effective implementation of government regulations for controlling pollution and upsurge in the replacement of traditional heating systems will augment the business landscape. The strict regulations related to emission control, coupled with national goals aimed at reducing carbon footprint, will contribute to an even greater adoption of the product. Additionally, the industry has witnessed a steep progression owing to stringent emission norms and rising investments toward the development of green buildings.
Asia Pacific Electric Boiler Market Share
The key companies operating across the APAC electric boiler market include
- Bosch Industriekessel
- Thermon
- Viessmann Climate Solutions SE
- Chromalox
- Thermodyne Boilers
- Babcock Wanson
- Bradford White Corporation
- Cerney
- Danstoker A/S
- Ecotherm
- FERROLI S.p.A
- Hi-Therm Boilers
- Klöpper-Therm GmbH & Co. KG
- LAARS Heating Systems Co.
- Lochinvar
- Precision Boilers
- Slant/Fin Corporation
- The Fulton Companies
- Flexiheat
- Acme Engineering Products
- Atlantic Boilers
Asia Pacific Electric Boiler Industry News
- In July 2022, Flexiheat developed a 15-kW electric boiler, which is one of the renowned electric boilers for hot water systems and central heating. This boiler replaces gas boilers and oil boilers to reduce their carbon footprints. The product consists of a pump, a vessel, and a pressure relief valve, which eliminate extra piping & plumbing network and deliver 100% efficiency to the end users.
- In June 2022, Lochinvar announced the addition of the FTX 1.0 series of fire-tube boilers, which offers a higher input of 999,000 Btu/hr. and accommodates limited space in mechanical rooms. This series includes both SmartTouch operating control capabilities and CON·X·US Remote Connectivity for better connecting contractors with the units. In addition, it functions in a wide range of flowing rates as it contains stainless steel heat exchangers with a drop in nominal low pressure, which makes it more flexible to manage fluctuations.
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This Asia Pacific electric boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD” from 2019 to 2032, for the following segments
Market, By Capacity
- ≤ 10 MMBtu/hr
- > 10 - 50 MMBtu/hr
- > 50 - 100 MMBtu/hr
- > 100 - 250 MMBtu/hr
- > 250 MMBtu/hr
Market, By Voltage Rating
- Low Voltage
- Medium Voltage
Market, By Application
- Residential
- Commercial
- Offices
- Healthcare Facilities
- Educational Institutions
- Lodgings
- Retail Stores
- Others
- Industrial
- Food Processing
- Pulp & Paper
- Chemical
- Refinery
- Primary Metal
- Others
The above information has been provided for the following countries
- China
- India
- Philippines
- Japan
- South Korea
- Australia
- Indonesia
Frequently Asked Questions (FAQ)
How big is the Asia Pacific electric boiler market?
The market size for electric boiler in APAC reached USD 2.2 billion in 2022 and is set to surpass USD 7.5 billion by 2032, due to the rising number of investments by public & private players toward the development of healthcare sector.
Why is the demand for ? 10 MMBtu/hr electric boilers rising in APAC?
Asia Pacific ? 10 MMBtu/hr electric boiler industry recorded over 80% revenue share in 2022, owing to increasing applicability across commercial & industrial facilities including healthcare, primary metal manufacturing, pulp industries and refineries.
How much is the commercial electric boiler market worth in Asia Pacific?
The commercial application segment is poised to cross USD 1.2 billion by 2032, driven by the ongoing upgradation of existing healthcare facilities.
What factors are adding to China electric boiler industry growth?
China market size exceeded USD 1.2 billion in 2022, owing to the enactment and effective implementation of government regulations for controlling pollution coupled with the upsurge in the replacement of traditional heating systems.
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