Europe Residential Boiler Market Size - By Technology (Condensing {Natural Gas, Oil, Electric}, Non-Condensing {Natural Gas, Oil, Electric}), By Fuel (Natural Gas, Oil, Electric) & Forecast, 2024 – 2032

Europe Residential Boiler Market Size - By Technology (Condensing {Natural Gas, Oil, Electric}, Non-Condensing {Natural Gas, Oil, Electric}), By Fuel (Natural Gas, Oil, Electric) & Forecast, 2024 – 2032

Europe Residential Boiler Market Size

Europe Residential Boiler Market size surpassed USD 40.6 billion in 2023 and is anticipated to expand at 8.3% from 2024 to 2032. Increasing population and urbanization rate primarily across the developing nations along with surging infrastructural investments for development of sustainable building infrastructure will foster the industry growth.

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Improved living standards and rising disposable incomes along with increasing consumer inclination toward deployment of advanced boilers will propel the industry landscape. Rising emission constraints have compelled regulators to introduce design standards for development of energy efficient products and emission control regulations for manufacturers which in turn will fuel the product penetration. Moreover, ongoing transformations of categorization of rural areas as urban areas will stimulate the demand for these boilers.

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COVID– 19 Impact

The European region has been significantly impacted by an outbreak of the COVID- 19 pandemic. Limited operations in the companies on account of shortage of raw materials from lower-tier suppliers, a reduced availability of manpower, and the slow recovery of logistics network capacity has impacted the Europe residential boiler market growth. However, in response to these challenges, manufacturers have initiated new collaborations and innovative approaches to enhance resilience and minimize the impact of the pandemic on the supply chain which in turn has escalated the business potential.

Europe Residential Boiler Market Analysis

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The gas based boiler industry will witness growth rate of 8.2% by 2032. Robust adoption of green technologies and shifting government focus reduction of green emissions will institute a favorable industry scenario. Abundant availability of natural gas primarily across Middle East & Africa will drive the business growth. The private and public players are extensively investing toward the development of zero-emission buildings which in turn will amplify the residential boiler market outlook in Europe.

The residential electric boiler market has witnessed an upsurge in the overall penetration on account of ongoing government mandates and introduction of emission mandates to limit greenhouse gas emissions. The residential sector being one of the carbon emitters along with surging need for decarbonization will favor the business scenario. In addition, rising consumer awareness toward the adoption of clean technologies on account of surging water heating demand and space heating, accelerating the industry potential.

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The condensing residential boiler industry size held 85% share in 2022. The market is anticipated to experience substantial growth owing to several significant advantages they offer including reduced carbon emissions and lower heating costs. Furthermore, compact size, low power consumption, and absence of a water tank requirement are crucial factors driving the adoption across the sector. Additionally, the introduction of favorable government initiatives including tax incentives and rebates will augment the industry dynamics.

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The France residential boiler market is estimated to amass USD 9.5 billion by 2032. Introduction of a national energy policy along with flourishing tourism sector has led to a significant deployment of heating technologies. The government has set targets to accelerate the change toward a cleaner, better, and healthier environment, thereby, creating a favorable business scenario. Moreover, the nation is aggressively focusing on decarbonization and the deployment of clean energy technologies, favoring the business statistics.

UK residential boiler industry will witness an appreciable momentum on account of low winter temperatures and surging requirements for space heating. The introduction of various government initiatives for the development of new residential establishments including apartments and villas will propel the European boiler industry landscape. Moreover, the government has implemented green energy schemes and numerous laws to boost public investments which will propel the business outlook. Flourishing real estate sector along with ongoing replacement of conventional systems with energy-efficient boilers will continue to drive the market statistics.

Europe Residential Boiler Market Share

The key companies are focusing on technological advancements, economies of scale and brand recognition to meet the competition prevailing in the industry. The major residential boiler market players in Europe include

• BDR Thermea Group
•  Hoval
•  VIESSMANN
•  Immergas S.p.A
•  Bradford White Corporation
•  Bosch Industriekessel
• A. O. Smith
•  FERROLI
•  ACV
• NTI Boilers
•  Atlantic
•  Ariston Holding N.V
•  Fonderie Sime S.p.A
• Carrier
• Vaillant Group
•  Lennox International Inc.

Europe Residential Boiler Industry News

• In January 2023, Ariston Holding N.V. announced the acquisition of CENTROTEC Climate Systems GmbH from CENTROTEC SE. The acquired company operates through renowned brands, Wolf is a pioneer in the development of new-generation residential boilers. The CENTROTEC enjoys a solid market positioning in the European markets. The acquisition will support Ariston’s growth across the region and will enhance its market presence worldwide.
   
• In November 2022, VISSEMANN launched its Vitodens boiler range with an increased output of 35 kW. The new addition offers a Domestic Hot Water output between 2.9 kW to 35 kW and a heating output ranging from 3.2 to 32 kW. The new models are Wi-Fi-enabled offering the homeowner to fully control the heating with the help of the ViCare app. The new series has augmented the company’s revenue and propelled its growth.

The Europe residential boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD” from 2019 to 2032, for the following segments

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Market, By Fuel

• Natural Gas
• Oil
• Electric
• Others

Market, By Technology

• Condensing
  • Natural Gas
  • Oil
  • Electric
  • Others
• Non-Condensing
  • Natural Gas
  • Oil
  • Electric
  • Others

The above information has been provided for the following countries

• Denmark
• Finland
• Norway
• Sweden
• UK
• Russia
• Romania
• Poland
• Austria
• Belgium
• France
• Germany
• Netherlands
• Switzerland
• Greece
• Italy
• Portugal
• Spain

Frequently Asked Questions (FAQ)

What is the market size of residential boiler in Europe?

The market size of residential boilers in Europe surpassed USD 40.6 billion in 2023 and expected to depict 8.3% CAGR during 2024 to 2032, explains the GMI report.

What are the leading factors for gas-based boiler demand?

Gas-based boiler industry size will record 8.2% growth during 2023 to 2032 due to the robust adoption of green technologies and shifting government focus on the reduction of green emissions.

What is the France residential boiler business forecast by 2032?

France residential boiler sector is estimated to amass USD 9.5 billion by 2032 owing to the introduction of a national energy policy along with the flourishing tourism sector.

Who are the top companies in the Europe residential boiler industry?

BDR Thermea Group, Hoval, VIESSMANN, Immergas S.p.A, Bradford White Corporation, Bosch Industriekessel, A. O. Smith, FERROLI, ACV, NTI Boilers, Atlantic, Ariston Holding N.V., Fonderie Sime S.p.A., Carrier, Vaillant Group, and Lennox International Inc.