Residential Boiler Market Projected to Exceed $13,849.4 Million, at 6.4% CAGR from 2021 to 2028

The global residential boiler market is expected to garner $13,849.4 million by 2028, at a CAGR of 6.4% from 2021 to 2028. The report offers all-inclusive insights into the current condition and future potential of the industry by deeply scrutinizing market drivers and restraints, opportunities, major segments, and regions.

The growing integration of advanced technologies in residential boilers is fueling the global residential boiler market growth. The Asia-Pacific region is expected to lead the market by 2028.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐧𝐨𝐰 @ https://www.researchdive.com/download-sample/3785

𝗠𝗮𝗿𝗸𝗲𝘁 𝗗𝘆𝗻𝗮𝗺𝗶𝗰𝘀
The key factor fueling the growth of the global residential boiler market is the rising initiatives by governments for reducing the energy consumption by ventilating, heating, and air conditioning systems. In addition, leading boiler producers are investing in the integration of advanced technologies, such as internet of things (IoT), in boilers' coating to enable immediate heating and corrosion resistance in boilers. This aspect is estimated to open doors to innovative opportunities for market growth in the projected period. However, the existence of alternatives for residential boilers, mainly for gas fired boilers, is projected to obstruct the market growth during the forecast period.

𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐏𝐚𝐧𝐝𝐞𝐦𝐢𝐜 𝐨𝐧 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭:
The COVID-19 pandemic negatively impacted the global residential boiler market's growth in 2020. The market is anticipated to perceive remarkable growth due to the increasing demand for residential boilers mainly in European and American regions. Some of the foremost players in the market are executing numerous business strategies to obtain a leading edge in the market during the pandemic.

𝐊𝐞𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭
The market is segmented on the basis of fuel type, technology, and region.

By fuel type, the gas sub-segment is anticipated to hold a leading position in the market by garnering $8,008.5 million by 2028. This growth is chiefly owing to the increasing demand for gas-fired boilers as they need less energy and give out less emissions as compared to oil-fired and coal boilers.

By technology, the condensing sub-segment is anticipated to experience outstanding growth and surpass $11,072.2 million with a CAGR of 6.6% by 2028. This growth is primarily as a result of the increasing use of condensing boilers because of their amazing benefits. Some of these benefits are improved control, better efficacy, and ease while using condensing boilers.

By region, the Asia-Pacific residential boiler market is estimated to observe speedy growth by garnering a revenue of $3,508.1 million during the forecast period. This growth is mostly due to the growing urbanization and economic advances in developing nations such as India and China which is increasing the demand of smart homes that have smartphone-controlled HVAC systems.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 @ https://www.researchdive.com/request-for-customization/3785

𝐓𝐨𝐩 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲
The major players of the global residential boiler industry are SPX Corporation, DAIKIN INDUSTRIES, Ltd., Ariston Thermo SpA, Robert Bosch GmbH, Lennox International, A. O. Smith, Viessmann Manufacturing Company Inc., NORITZ Corporation and Burnham Holdings, Inc., Thermax Limited, and others. Numerous business strategies, such as acquisitions, mergers, R&D activities, new product developments, and much more, are implemented by these players to attain a strong position in the global market.

Moreover, the report offers other key details of leading players such as business tactics, financial performance, and product/service range of these players along with Porter's five forces analysis and SWOT analysis.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

𝐌𝐫. 𝐀𝐛𝐡𝐢𝐬𝐡𝐞𝐤 𝐏𝐚𝐥𝐢𝐰𝐚𝐥

𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐃𝐢𝐯𝐞

𝟑𝟎 𝐖𝐚𝐥𝐥 𝐒𝐭. 𝟖𝐭𝐡 𝐅𝐥𝐨𝐨𝐫, 𝐍𝐞𝐰 𝐘𝐨𝐫𝐤 𝐍𝐘 𝟏𝟎𝟎𝟎𝟓

(𝐏) +𝟗𝟏-(𝟕𝟖𝟖)-𝟖𝟎𝟐-𝟗𝟏𝟎𝟑 (𝐈𝐧𝐝𝐢𝐚)

𝐓𝐨𝐥𝐥 𝐅𝐫𝐞𝐞: 𝟏-𝟖𝟖𝟖-𝟗𝟔𝟏-𝟒𝟒𝟓𝟒

𝐄-𝐦𝐚𝐢𝐥: support@researchdive.com

𝐖𝐞𝐛𝐬𝐢𝐭𝐞: https://www.researchdive.com

𝐀𝐛𝐨𝐮𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐃𝐢𝐯𝐞:

Research Dive maintaining the integrity and authenticity of the services, the firm provides services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, a team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable.

Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive delivers the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

This release was published on openPR.