Global Industrial Electrical Boiler Market Is Expanding At A CAGR of 16.8% To Reach US$ 870.9 Million By 2030

April 2023 | Report Format: Electronic (PDF)

A number of causes, including growing public awareness of environmental issues, are contributing to an increase in the usage of technology that operates with high efficiency. Government initiatives to lower carbon emissions and growing environmental concerns are also predicted to fuel the growth of the electric boiler market throughout the course of the anticipated period.

Electric boilers have up to 98% efficiency rates and very low noise levels. These boilers also use less energy. During the projected period, it is anticipated that these variables will enhance the penetration of electric boilers. Furthermore, since consumers are shifting their tastes and preferences towards goods that minimize emissions, manufacturers have a chance to engage in research and development and create items that are environmentally friendly, or energy efficient. The improvement of electric boilers and the development of new technologies are fueling demand for the product on the international market.

However, it is projected that over the forecast period, the high cost of sophisticated electric boilers and the high maintenance and repair costs would restrain the growth of the electric boiler market.

Asia Pacific is anticipated to account for the highest portion of the global electric boiler market during the forecast period. Due to their economies' improvement and residents' increased disposable income, developing nations in the Asia-Pacific region are also expected to see growth in the market for electric boilers. Additionally, the market for electric boilers is anticipated to be fueled by the region's easy access to these boilers, ongoing industrialization and commercialization, and other factors.

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Industrial Electrical Boiler Market Report Highlights

• In June 2022, Fujifilm announced the expansion by $1.6 billion at CDMO locations in Texas and Denmark. The environmentally friendly aspects of the Denmark facility, like an electric boiler rather than a natural gas-powered one, will help Fujifilm's new Green Value Climate Strategy and reduce the company's reliance on fossil fuels.
• In 2021, the Swedish energy company Vattenfall announced the implementation of the Dutch SDE+ initiative for large-scale renewables by constructing a 150 MW electric boiler close to Amsterdam. The facility is designed to run during periods of high wind and solar energy availability and to provide hot water to homes in the city and its environs.

INDUSTRIAL ELECTRICAL BOILER MARKET SEGMENTATION

The research report published by Market Research Strategy contains industry segments, as below-

Industrial Electrical Boiler Type Outlook (Revenue, USD Million, 2017 - 2030)

• Hot water
• Steam water

Industrial Electrical Boiler Size Outlook (Revenue, USD Million, 2017 - 2030)

• Small
• Medium
• Large

Industrial Electrical Boiler Application Outlook (Revenue, USD Million, 2017 - 2030)

• Industrial
• Commercial
• Residential
• Others

Industrial Electrical Boiler Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America (U.S., and Canada)
• Europe (Germany, U.K., France, Italy, Spain, etc.)
• Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
• South America (Brazil, Mexico, Argentina, etc.)
• Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa, etc.)

List of Key Players- Industrial Electrical Boiler Market

• August Brötje GmbH
• BDR Thermea Group
• NIBE Energy Systems Limited
• P.M. Latter Manufacturing Co.
• Precision Boilers, LLC.
• Reimers Electra Steam, Inc.
• Thermo 2000 Inc.
• Tonon Evolution S.R.L.
• Värmebaronen AB

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