Residential Boiler Market Top Trends, Future Analysis & Forecast 2023-2032

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Residential Boiler Market is expected to be USD
139.8 Billion by 2032
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Industry Overview

• Residential Boiler Market is estimated to grow
  considerably through 2032, owing to increasing
  consumer preference for advanced boilers.
  Mounting emission constraints have obligated
  regulators to introduce design standards for
  developing energy-efficient products and emission
  control regulations for manufacturers.
• Furthermore, several advantages of boilers, such
  as energy savings, durability, long-term use,
  less maintenance and repairs, and even heat
  distribution, will drive their adoption in the
  residential building in near future.
• The key market players in the residential boiler
  industry are engaging in partnerships, mergers,
  and acquisitions and launching new products to
  stay competitive in the overall market. To cite
  an instance, in April 2021, Hoval announced
  expansion of its new range of gas condensing
  boilers- UltraGas. The novel addition boasts of
  high efficiency with low emissions, while using
  just less than half of the floor space of common
  gas boiler devices.
• To cite another instance, in January 2021, Lennox
  International Inc. and Service Experts announced
  the merger of two firms.

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• Overall, the residential boiler industry is
  segmented in terms of fuel, technology, and
  region.
• Based on fuel, the natural gas-powered
  residential boiler market will depict over 7.5
  growth rate from 2023 to 2032. The product will
  witness appreciable growth owing to the mounting
  adoption of green technologies and the shifting
  focus of the government on reducing toxic
  emissions. Besides, the ample availability of
  natural gas, especially across the Middle East
  and Africa, will support the business growth. In
  addition, surging investment by public and
  private players in developing net-zero emissions
  buildings would further impel the product
  development.
• By technology, the condensing boilers are
  anticipated to register over 9.5 growth rate
  through 2032. The demand will be largely credited
  to benefits such as a lower carbon footprint and
  minimized heating costs. Besides, there is no
  requirement for water tanks, compact size, or low
  power consumption, which are crucial parameters
  supporting the growing product adoption.
  Apparently, condensing boilers are more efficient
  than non-condensing boilers, with brand-new
  models more likely to reach over 90 efficiency.

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Residential Boiler Market

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