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Industrial Electric Boiler Market - By Type (Hot Water, Steam Water), By Size (Small, Medium, Large), By Application (Industrial, Commercial, Residential) & Region Forecast 2023 – 2032

Format: PDF | Pages: 480 | Report ID: MRS1250


Report Description

The global Industrial Electrical Boiler market size was valued at USD 380.6 million in 2022, expanding at a CAGR 16.8% from 2023-2032 to reach 870.9 Million USD in 2032.

Market Dynamics

The Industrial Electrical Boiler market is expected to witness substantial growth over the forecast period. An electric boiler is one that heats water using electricity as opposed to combustible fossil fuels like gas or oil. In comparison to conventional boilers, installing an electric boiler is much simpler and less expensive. Additionally, they don't take up much room and can be installed just about anywhere in a house.

Additionally, they come in a range of sizes and shapes. The demand for electric boilers is anticipated to rise dramatically over the course of the forecast period. The market for industrial electric boilers will increase since there is an increasing need for space and water heating that is efficient, as well as a strong development of green buildings. These solutions offer a number of benefits, including increased dependability and quick and inexpensive installation, which will generate significant growth potential.

Governments in various regions have been enacting strict laws and emission standards, which will hasten the adoption of new products. The outlook for the electric industrial boiler business will also be boosted by favorable policies and funding plans. In addition, businesses have been concentrating on R&D to improve the functionality and efficiency of their products as well as on strategic mergers to promote market penetration.

A significant factor limiting the growth of the industrial electric boiler industry is the rise in electricity prices. Industrial electric boilers require a significant amount of electricity to operate, which could hinder sales. However, producers have made significant investments in creating environmentally friendly and energy-efficient boilers, which will improve the business environment.

To avoid the negative effects of emissions, major energy-consuming nations are choosing energy-efficient alternatives. Companies will also profit from favorable regulations and programs that encourage the use of energy-efficient products. For instance, Cleaver-Brooks unveiled a sustainability effort plan in July 2022 to address corporate environmental concerns. In order to meet its goals, the corporation carefully evaluated its boiler products and services. With the goal of reducing carbon emissions, improving plant energy efficiency, switching from fossil fuels to renewable energy sources, and achieving ultra-low to zero CO and NOx emissions, this company's solutions were created.

Regional Insights

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.

Segment Dynamics

The Industrial Electrical Boiler market is fragmented into type, size, and application segments. Based on the type, the steam water segment is anticipated to dominate the market. By application, the industrial segment is projected to grow at the highest CAGR during the forecast period.

Competitive Insights

The Industrial Electrical Boiler market is highly competitive in nature with the presence of local & international players. Major players in the industry engage in strategic mergers & acquisitions, partnerships, and new product launches to remain competent in the market. For example, in 2022, 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.

The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Industrial Electrical Boilers by type, region, and application. In addition, this report introduces the market competition situation among the current vendors and company profile,, market price analysis and value chain features are covered in this report.

Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products etc.):

  • 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

Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Hot Water
  • Steam Water

Size Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Small
  • Medium
  • Large

Application Coverage (Market Size & Forecast, Main Consumer Analysis etc.):

  • Industrial
  • Commercial
  • Residential
  • Others

Region Coverage (Regional Consumption, Demand & Forecast by Countries etc.):

  • 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.)

Frequently Asked Questions

The size of the global Industrial Electrical Boiler market was estimated at USD 380.6 million in 2022 and is projected to grow at a CAGR of 16.8% from 2023 to 2032 to reach USD 870.9 million.
North America generated the most revenue in 2021, and it is anticipated that it will hold this position throughout the study period.
From 2023 to 2032, the market for industrial electrical boilers will grow at a CAGR of 16.8%, reaching 870.9 Million USD in that year.
Asia Pacific (especially China, and India) region is projected to grow at the fastest growth rate during the study period.
The Industrial Electrical Boiler market is highly competitive in nature with the presence of local & international players. Major players in the industry engage in strategic mergers & acquisitions, partnerships, and new product launches to remain competent in the market. For example, in 2022, 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.

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