Residential Boiler Market to Witness Steady Growth Driven by Housing and Energy-Efficient Heating Demand

According to a new report published by Allied Market Research, the global residential boiler market size was valued at $7.6 billion in 2021 and is projected to reach $12.5 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031. The market growth is primarily driven by rising demand for space heating and water heating solutions in residential buildings, coupled with rapid urbanization and expansion of the housing sector worldwide.

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A residential boiler is a heat-generating device that produces steam or hot water using fuel sources such as natural gas, oil, coal, or electricity. The generated heat is used for space heating, domestic hot water, and other residential applications. Key components of a residential boiler include the furnace, shell, heating surface, water and fuel systems, and mounting accessories. These systems are widely installed in homes, apartments, farmhouses, and holiday residences.

Regional Analysis: Europe Leads, Asia-Pacific Grows Fastest

The residential boiler market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe accounted for the largest market share in 2021 and is expected to maintain its dominance throughout the forecast period. Factors such as cold climatic conditions, a large residential consumer base, and the presence of major boiler manufacturers contribute to Europe's leading position.

Countries such as Germany, France, Italy, and the UK have high penetration of residential heating systems, supported by strict energy efficiency regulations and replacement of aging boiler infrastructure.

Asia-Pacific is expected to register the fastest growth, with a projected CAGR of 5.7% during the forecast period. Rapid urbanization, population growth, and increasing residential construction activities in countries such as China and India are driving demand. In 2021, Asia-Pacific accounted for over 40% of the global residential boiler market revenue, highlighting its growing importance.

Growing Demand from Residential Applications

The increasing need for comfortable indoor heating and reliable hot water supply is a major factor driving the residential boiler market growth. Rising disposable income and improving living standards have led homeowners to invest in efficient heating systems, especially in colder regions. Residential boilers play a critical role in maintaining indoor comfort during winter months, making them essential household equipment in many countries.

Moreover, population growth and rapid urban development are fueling residential construction activities across emerging economies such as China, India, and several African nations. The expansion of new housing projects, along with renovation of existing buildings, is expected to significantly boost demand for residential boilers during the forecast period.

Impact of Construction Industry Expansion

The booming construction industry is another key contributor to the growth of the residential boiler market. Government initiatives focused on affordable housing, smart cities, and urban infrastructure development are increasing the number of residential buildings worldwide. New residential projects increasingly incorporate modern heating systems to meet energy efficiency standards and enhance occupant comfort.

However, the market faces challenges from the rapid adoption of renewable energy technologies. Heating alternatives such as solar thermal systems and heat pumps are gaining traction, particularly in regions with strong renewable energy policies. This shift toward clean energy solutions is expected to restrain the growth of conventional residential boiler systems in the long term.

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Fire Tube Boilers Dominate by Type

By type, the fire tube boiler segment accounted for approximately 62.0% of the global residential boiler market share in 2021 and is expected to maintain its dominance throughout the forecast period. Fire tube boilers are widely used due to their simple design, cost-effectiveness, and suitability for residential space heating and water heating applications.

Demand for fire tube boilers remains strong in regions with cold climates, particularly in North America and Europe. The need for continuous hot water and efficient heating during extended winter seasons is driving adoption in these regions.

Condensing Technology Leads the Market

By technology, the condensing boiler segment holds the largest share of the residential boiler market and is expected to continue its dominance over the forecast period. This growth is attributed to increasing awareness of energy efficiency and environmental sustainability among consumers.

Condensing boilers are designed to recover heat from exhaust gases, resulting in higher efficiency and lower fuel consumption compared to traditional non-condensing boilers. Benefits such as reduced energy costs, compact size, lower carbon emissions, and improved performance are accelerating their adoption in residential applications.

Governments across various regions are also promoting energy-efficient heating solutions through regulations and incentive programs, further supporting the growth of condensing residential boilers.

Gas-Fired Boilers Remain the Preferred Fuel Type

By fuel type, the gas-fired segment accounted for the largest revenue share in 2021 and is expected to grow at a CAGR of 5.9% during the forecast period. Gas-fired residential boilers are widely preferred due to their clean combustion, quiet operation, cost-effectiveness, and energy efficiency.

The availability of natural gas infrastructure in developed regions, along with lower emissions compared to oil- or coal-fired systems, makes gas-fired boilers an attractive option for residential heating. These systems also offer enhanced safety and reliable performance, supporting their strong market position.

Competitive Landscape and Key Players

The global residential boiler market is moderately fragmented, with several established players focusing on product innovation, capacity expansion, and strategic partnerships. Key companies operating in the market include Ariston Thermo SpA, Bradford White Corporation, Burnham Holdings, Ferroli S.P.A., Lennox International, Noritz Corporation, Robert Bosch GmbH, Slant/Fin Corporation, SPX Corporation, and Viessmann Manufacturing Company, Inc.

Other notable participants include A.O. Smith, Parker Boiler, AC Boilers SpA, and Saudi Boiler. These players are investing in energy-efficient technologies and expanding their geographic presence to strengthen their competitive position.

Impact of COVID-19 on the Residential Boiler Market

The COVID-19 pandemic negatively impacted the residential boiler market due to disruptions in construction activities, supply chains, and manufacturing operations. Lockdowns and movement restrictions led to delays in residential projects and reduced demand for heating appliances, particularly during the initial phase of the pandemic.

European countries such as Germany, France, Spain, and Italy implemented strict containment measures, resulting in temporary shutdowns of production facilities. However, market recovery is expected as construction activities resume and residential demand stabilizes.

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Market Outlook

The residential boiler market is expected to witness steady growth over the next decade, driven by increasing housing demand, technological advancements, and rising adoption of energy-efficient heating solutions. While renewable alternatives pose a challenge, ongoing replacement of old systems and demand from emerging economies will continue to support market expansion.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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