Global Residential Boiler Market Overview:
Global residential boiler market had been experiencing steady growth with a focus on energy-efficient and environmentally friendly solutions. However, market conditions can change over time, so it is important to consult more recent sources for the current overview of the residential boiler market.
The residential boiler market is an integral part of the heating, ventilation, and air conditioning (HVAC) industry. Residential boilers are used to provide heating for households by generating hot water or steam, which is then distributed throughout the building to maintain comfortable indoor temperatures.
The global residential boiler market size was valued at USD 12.26 billion in 2021. It is projected to experience significant growth, with the industry expected to reach USD 13 billion in 2022 and further expand to USD 20.7 billion by 2030. This growth is forecasted to occur at a compound annual growth rate (CAGR) of 6% during the forecast period from 2022 to 2030.
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Residential Boiler Market Segmentation:
Residential Boiler by Type Outlook
· Water Tube Boiler
· Fire Tube Boiler
· Electric Boiler
Residential Boiler Technology type Outlook
· Condensing
· Non-condensing
Residential Boiler Application Outlook
· Residential
· Commercial
· Industrial
Residential Boiler Regional Outlook
· North America
· Europe
· Asia-Pacific
· Rest of the World
Key Players
Key Companies in the Residential Boiler market includes.
· Ariston Thermo SpA
· Bradford White Corporation
· Burnham Holdings Inc.
· Ferroli S.P.A.
· Lennox International
· Noritz Corporation
· Robert Bosch GmbH
· Slant/Fin Corporation
· SPX Corporation
· Viessmann Manufacturing Company Inc.
Residential Boiler Industry Developments
January 2023:
Ariston Group Completes the Acquisition of Centrotec Climate System
In January 2023, the Ariston Group, a prominent player in the heating and hot water solutions industry, successfully completed the acquisition of Centrotec Climate System. The acquisition marks a significant move by Ariston to expand its portfolio and strengthen its presence in the residential boiler market.
Centrotec Climate System, a company known for its expertise in energy-efficient heating, ventilation, and air conditioning solutions, is expected to complement Ariston's existing product range. By incorporating Centrotec's technology and innovations, Ariston aims to enhance its offerings with more energy-efficient and environmentally friendly solutions for residential heating systems.
The acquisition aligns with the industry's growing focus on energy efficiency and sustainable solutions, and it could enable Ariston to better meet the evolving demands of consumers for greener heating options.
December 2021:
Noritz (China) Co., Ltd Launches New Series of Residential Gas Water Heaters with O₃ Water Generation Function in China
In December 2021, Noritz (China) Co., Ltd, a subsidiary of Noritz Corporation, introduced a new series of residential gas water heaters in China. This latest series is equipped with an O₃ (ozone) water generation function, offering additional features to meet the changing consumer needs in the Chinese market.
The introduction of the O₃ water generation function reflects the increasing interest in health, beauty, safety, and security among Chinese consumers. Ozone water is known for its potential antibacterial and disinfectant properties, making it an appealing feature for homeowners seeking enhanced water quality and hygiene.
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