North America & Europe Electric Boiler Market size
valued at USD 7.7 billion in 2023 and expected to rise at 11.4% CAGR from 2023 to 2032, North America & Europe Electric Boiler Market By 2032 the worldwide market for electric boilers will cross USD 28 billion in value.
To identify important trends in the market
Introduction of rules to restrict greenhouse gas (GHG) emissions and paradigm change toward decarbonization will cause an industrial rush. Adoption of effective heating technologies together with changing emphasis on the construction of zero-emission buildings will invigorate the corporate dynamics. Usually, customers choose to install several boilers in order to increase dependability and conserve energy, which will help to change the market statistics.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| North America & Europe Electric Boiler Market Size in 2023 | USD 7.7 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 11.4% |
| 2032 Value Projection | USD 20.7 Billion |
| Historical Data for | 2019 to 2023 |
| No. of Pages | 280 |
| Tables, Charts & Figures | 693 |
| Segments covered | Voltage Rating, Capacity, Application |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
Download Free Sample Ask for Discount Request Customization
What are the growth opportunities in this market?
COVID– 19 Impact
The regions have been significantly impacted by an unanticipated outbreak of the novel coronavirus. The COVID- 19 has led to a substantial decrease in the overall investment in upgradation and expansion of commercial and industrial facilities. The government's efforts to resume operations in major industries, manufacturing and production facilities, coupled with substantial investments in the healthcare sector, have positively impacted the North America & Europe electric boiler market landscape.
North America & Europe Electric Boiler Market Trends
Stringent government regulations aimed at reducing carbon emissions and improving energy efficiency have compelled regulators to establish strict norms, which in turn will favor the business scenario. These systems offer significant advantages, such as reduced energy costs, increased comfort, and low operational expenses, driving the industry growth. Furthermore, the ongoing refurbishment of existing infrastructures coupled with changing consumer preferences toward modular boiler systems will augment the market outlook.
Download Free Sample Ask for Discount Request Customization
North America & Europe Electric Boiler Market Analysis
Learn more about the key segments shaping this market
The residential electric boiler industry size will witness growth rate of 10.7% till 2032. The sector is expected to experience significant growth due to the increasing demand for energy-efficient heating systems and efforts towards energy conservation. The requirement of efficient heating units driven by legislative measures and the replacement of existing systems will contribute to the North America & Europe electric boiler market outlook. Moreover, the need for space heating and hot water systems in cold climatic regions will further boost the product penetration.
The industrial electric boiler sector will witness a steady growth on account of rising industrialization and investments toward the expansion of manufacturing facilities. These units find wide applications across medium scale industries to generate steam for process heating and are majorly deployed across chemical and food processing units. The market for commercial electric boiler is set to surpass USD 5 billion by 2032.
Learn more about the key segments shaping this market
The low voltage electric boiler market captured 75% of the business share in 2022. These boiler systems are compact and require very less maintenance, reducing the overall expense of the operating the system. However, these units offer low emissions and residues when compared to conventional boilers, thereby augmenting their acceptance across wide tandem of applications. Increasing demand for replacement of inefficient heating technologies with advanced heating technologies will positively sway the boiler industry growth.
The > 50 - 100 MMBtu/hr capacity electric boiler market crossed valuation of USD 300 million in 2022. Wide scale utilization of these units across healthcare facilities, retail stores, primary metal manufacturing, pulp industries, and refineries will drive the market development. The growing demand for food processing units, driven by evolving consumer preferences and increasing disposable incomes, will contribute to the wider espousal of these boilers.
Looking for region specific data?
The North America electric boiler market is estimated to amass USD 1.5 billion by 2032. The sector will experience significant growth due to the increased investments toward infrastructure development and implementation of strict emission regulations. The involvement of private companies, as well as federal and state governments, in the expansion and development of industrial facilities, will augment the business scenario. The ongoing expansion of infrastructure, driven by the growing construction industry will garner the product demand. Moreover, the increasing demand of space heating in medium and large-scale industries will further contribute to the business progression.
North America & Europe Electric Boiler Market Share
The key participants operating across the industry include
- Thermona,spol.s.r.o
- Cerney S.A
- Thermon
- Slant/Fin Corporation
- ACV
- Ferroli S.p.A
- Danstoker A/S
- The Fulton Companies
- P. M. Lattner Manufacturing Co.
- KOSPEL
- LACAZE ENERGIES
- Ecotherm Austria GmbH
- R.F. MacDonald Co.
- Hi-Therm Boilers.Pvt.Ltd
- Ross Boilers
- Lathrop Trotter
- PARAT Halvorsen AS
- Cleaver-Brooks
- Vapor Power International
- Precision Boilers
- Acme Engineering Prod.Ltd
- Chromalox.
North America & Europe Electric Boiler Industry News
- In February 2023, PARAT installed a 15 MW & 10kV high-voltage electric boiler for providing hot water and is equipped with a control cabinet & control system for Brande Fjernvarme. The boiler is designed at temperature of 168°C and pressure of 6.5 barg. It is primarily designed for zero-load and high efficiency.
- In March 2021, Thermon launched 400 & 480 Vac options in its existing HTSX electric heat tracing product line. The trace heaters offer over 70% increase in voltage rating, designing new applications & use cases for the company’s self-regulating technology that provides enhanced safety & easier installations. This Monolithic Co-Extrusion technology offers improved life expectancy & high reliability.
This North America & Europe 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
Download Free Sample Ask for Discount Request Customization
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 regions and country
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- UK
- Poland
- Italy
- Spain
- Austria
- Germany
- Sweden
- Russia
Frequently Asked Questions (FAQ)
How big is the electric boiler market in North America & Europe?
The market size of North America & Europe electric boiler crossed USD 7.7 billion in 2023 and will grow at 11.4% CAGR from 2024 to 2032, backed by the introduction of mandates to limit greenhouse gas (GHG) emissions and paradigm shift toward decarbonization.
Why are low voltage units getting traction in industry overview?
The low voltage electric boiler industry in North America and Europe accounted for 75% share in 2022. These boiler systems are compact and require very less maintenance, reducing the overall expense of operating the system.
What is the size of North America electric boiler industry?
North America electric boiler industry is set to exceed USD 1.5 billion by 2032, due to the increased investments toward infrastructure development and the implementation of strict emission regulations.
Who are the known manufacturers in the industry’s competitive landscape?
Thermona, Cerney S.A, Thermon, Slant/Fin Corporation, ACV, Ferroli S.p.A, Danstoker A/S, The Fulton Companies, Lathrop Trotter, PARAT Halvorsen AS, Cleaver-Brooks, Vapor Power International, Precision Boilers, Acme Engineering Prod., and Chromalox among others.
Related Reports
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy