The global residential boiler market size reached USD 8.9 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 13.3 Billion by 2033, exhibiting a growth rate (CAGR) of 4.28% during 2025-2033.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024
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USD 8.9 Billion |
Market Forecast in 2033
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USD 13.3 Billion |
Market Growth Rate 2025-2033 | 4.28% |
Residential boilers refer to hydronic heating systems that convert chemical energy into thermal energy to heat the water present inside the tank. They consist of radiators or baseboards that assist in heating the water via convection and maintaining the temperature while circulating it through metallic vessels. Residential boilers offer high reliability, longer shelf-life, less maintenance, optimal energy efficiency, and are environmental-friendly. On account of these properties, they are employed across public infrastructures, holiday homes, and residential establishments. At present, residential boilers are commercially available in condensing and non-condensing technologies.
With the rising ongoing construction activities, particularly in emerging economies, there has been an increasing demand for energy-efficient water heating equipment, such as residential boilers, to offer consumers an easy access to warm water. This represents the prime factor currently driving the market growth. In line with this, the rising concerns regarding the heat and pollution generated by boilers have prompted the governments of various countries to undertake stringent initiatives for promoting the establishment of green buildings and uptake of eco-friendly residential boilers as a sustainable heating technology. This, in turn, assists in improving air quality by mitigating the depletion of natural resources and minimizing the emissions of greenhouse gases (GHGs). Additionally, significant technological advancements and growing investments in research and development (R&D) activities have led the introduction of coal, oil, and gas-fired residential boilers at reduced manufacturing cost, which is also contributing to the market growth. Moreover, the extensive utilization of condensing boilers in residential areas on account of its various beneficial properties, including affordability, reduced carbon footprints, and clean heating operation, is propelling the market growth. Other factors, such as rapid urbanization and rising disposable incomes in developing regions, along with the increasing need for high-performance heating devices with easy maintenance and installation, are creating a positive outlook for the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global residential boiler market report, along with forecasts at the global, regional and country level from 2025-2033. Our report has categorized the market based on type, fuel type and technology.
Breakup by Type:
Breakup by Fuel Type:
Breakup by Technology:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being A. O. Smith Corporation, Ariston Holding N.V., Bradford White Corporation, Burnham Holdings Inc., Daikin Industries Ltd., FERROLI S.p.A, Lennox International Inc., NORITZ Corporation, Robert Bosch GmbH, Slant/Fin Corporation, SPX Corporation and Viessmann.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Segment Coverage | Type, Fuel Type, Technology, Region |
Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered | A. O. Smith Corporation, Ariston Holding N.V., Bradford White Corporation, Burnham Holdings Inc., Daikin Industries Ltd., FERROLI S.p.A, Lennox International Inc., NORITZ Corporation, Robert Bosch GmbH, Slant/Fin Corporation, SPX Corporation and Viessmann |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global residential boiler market was valued at USD 8.9 Billion in 2024.
We expect the global residential boiler market to exhibit a CAGR of 4.28% during 2025-2033.
The increasing adoption of residential boilers for easy access to warm water as they are affordable, eco-friendly, and energy efficient is primarily driving the global residential boiler market.
The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of residential boilers.
Based on the type, the global residential boiler market can be categorized into water tube boiler, fire tube boiler, and electric boiler. Currently, fire tube boiler exhibits clear dominance in the market.
Based on the fuel type, the global residential boiler market has been segmented into coal fired, oil fired, gas fired, and others. Among these, gas fired currently represents the largest market share.
Based on the technology, the global residential boiler market can be bifurcated into condensing and non-condensing. Currently, condensing technology accounts for the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America, where Europe currently dominates the global market.
Some of the major players in the global residential boiler market include A. O. Smith Corporation, Ariston Holding N.V., Bradford White Corporation, Burnham Holdings Inc., Daikin Industries Ltd., FERROLI S.p.A, Lennox International Inc., NORITZ Corporation, Robert Bosch GmbH, Slant/Fin Corporation, SPX Corporation and Viessmann.