Electric Boiler

Global Electric Boiler Market to Reach US$20.5 Billion by 2030

The global market for Electric Boiler estimated at US$11.4 Billion in the year 2024, is expected to reach US$20.5 Billion by 2030, growing at a CAGR of 10.4% over the analysis period 2024-2030. Below 10 MMBtu/hr Capacity, one of the segments analyzed in the report, is expected to record a 12.5% CAGR and reach US$8.8 Billion by the end of the analysis period. Growth in the 10 - 50 MMBtu/hr Capacity segment is estimated at 8.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$3.1 Billion While China is Forecast to Grow at 14.5% CAGR

The Electric Boiler market in the U.S. is estimated at US$3.1 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.3 Billion by the year 2030 trailing a CAGR of 14.5% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 7.3% and 9.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.2% CAGR.

Global Electric Boiler Market – Key Trends & Drivers Summarized

Why Are Electric Boilers Gaining Steam in the Global Heating Landscape?

Electric boilers are increasingly becoming a prominent fixture in the global heating systems market, driven by the growing shift toward cleaner energy solutions and the need to decarbonize residential, commercial, and industrial heating. These systems operate without the combustion of fossil fuels, relying entirely on electricity to heat water or generate steam, making them an environmentally friendly alternative to traditional gas or oil boilers. The growing availability of green electricity from renewable sources such as wind, solar, and hydro power makes electric boilers an even more attractive proposition for markets focused on reducing carbon emissions. In residential settings, electric boilers offer compactness, quiet operation, and ease of installation, particularly in areas where access to the gas grid is limited or nonexistent. They are also becoming more popular in multi-unit dwellings and modern apartments, where space efficiency and centralized control are key considerations. On the commercial and industrial front, sectors such as healthcare, hospitality, food processing, and manufacturing are adopting electric boilers to meet clean energy mandates and avoid regulatory penalties tied to emissions. Moreover, the ability to integrate with smart home and building energy management systems allows for better efficiency, monitoring, and optimization of heating schedules. These boilers also eliminate the need for on-site fuel storage, reducing safety risks and logistical challenges. The growing electrification of infrastructure—especially in Europe, the UK, and parts of North America—is playing a key role in enabling the widespread deployment of these systems. With rising gas prices and volatile oil markets, electric boilers are emerging as a stable, long-term solution aligned with the global push toward sustainable living.

How Are Regional Policies and Electrification Initiatives Influencing Market Expansion?

Government policies aimed at reducing carbon footprints and improving energy efficiency are profoundly influencing the adoption of electric boilers across various regions. In Europe, the market is being driven by aggressive climate goals under the European Green Deal, along with national-level initiatives to phase out fossil fuel-based heating systems in new and existing buildings. Countries like Germany, Norway, Sweden, and the UK are leading the transition, with subsidies and rebate programs supporting consumers and businesses that adopt electric heating solutions. In some urban areas, building codes now mandate electric heating in new construction, effectively creating a legislative pathway for electric boiler growth. In North America, cities like New York and Vancouver are introducing restrictions on natural gas use in buildings, which is accelerating the demand for electric boilers as an immediate replacement. Electrification of heating is also a core theme in many utility decarbonization roadmaps across Canada and the United States. Asia-Pacific presents a diverse picture. In Japan and South Korea, high-tech, energy-efficient residential solutions are driving the electric boiler segment, while China is ramping up electrification in northern provinces as part of its broader coal-to-electricity switch. Emerging economies such as India are beginning to explore electric boilers for rural and semi-urban infrastructure as part of energy transition and air quality improvement efforts. Furthermore, the presence of well-developed electric grids, incentives for renewable energy usage, and national targets for energy independence are accelerating the integration of electric boilers into both residential and commercial infrastructures. The interplay of localized energy policies and electric grid readiness remains a crucial factor shaping the pace and trajectory of market expansion in different parts of the world.

Are Technological Advancements Making Electric Boilers More Competitive Than Ever?

Technological progress is playing a vital role in enhancing the performance, efficiency, and overall value proposition of electric boilers. One of the most notable advancements is in the area of precision heating and control systems. Modern electric boilers come equipped with digital thermostats, multi-stage heating elements, and smart connectivity features that allow users to optimize energy consumption based on real-time demand. Integration with home automation platforms and building energy management systems (BEMS) is now common, enabling automatic adjustments, remote control, and advanced scheduling features that contribute to significant energy savings. High-efficiency modulation technology allows electric boilers to operate at varying capacities rather than full power, reducing both energy usage and wear-and-tear on components. Innovations in insulation materials and compact heat exchanger designs have led to reduced heat loss and more efficient heat transfer, improving overall system performance. In industrial settings, electric steam boilers are being developed with higher output capacities and advanced safety mechanisms, making them suitable for heavy-duty applications. The introduction of three-phase models has further expanded the industrial and commercial applicability of electric boilers. Meanwhile, ongoing research into solid-state heating elements and advanced resistive materials promises even greater durability and energy efficiency. Safety features have also been significantly upgraded, with integrated fault detection, auto shut-off, and pressure regulation systems ensuring safe and reliable operation. Additionally, modular and wall-mounted designs are making installation easier in space-constrained environments. These technological enhancements are not only making electric boilers more user-friendly and efficient but are also closing the performance gap between electric and gas-based heating systems, especially when supported by clean electricity sources.

What’s Powering the Global Surge in Demand for Electric Boilers?

The growth in the global electric boiler market is driven by several factors rooted in energy infrastructure changes, end-user preferences, and sector-specific demands. A primary driver is the global push for building decarbonization, which is prompting a shift away from fossil fuel-based heating systems and toward clean electric alternatives. This is particularly evident in new residential and commercial developments where energy-efficient, all-electric systems are being prioritized. The ability of electric boilers to integrate with renewable power sources makes them a natural fit for regions investing heavily in green grids and distributed energy resources. On the consumer side, rising awareness of environmental impacts and the desire for low-maintenance, silent, and compact systems are influencing purchasing decisions. In commercial settings, industries that require precise temperature control, such as food processing, pharmaceuticals, and electronics manufacturing, are turning to electric boilers for their consistent output and clean operation. Moreover, the flexibility of electric boilers to fit into both new constructions and retrofitting projects makes them an appealing option for architects and engineers aiming to future-proof heating systems. Price volatility in natural gas and heating oil markets is also compelling users to explore electricity-based heating options that offer greater pricing stability. In many urban centers, electric boilers are becoming a key part of district heating networks and electrified HVAC systems, further driving demand. The proliferation of net-zero energy building standards and green building certifications is also encouraging developers and facility managers to favor electric boilers as a compliant solution. Lastly, government-backed financing, tax incentives, and utility rebates are helping to lower the initial cost barrier, making adoption more feasible across a broader demographic. Together, these technology- and policy-aligned forces are fueling the robust global growth of the electric boiler market.

SCOPE OF STUDY:

The report analyzes the Electric Boiler market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Capacity (Below 10 MMBtu/hr Capacity, 10 - 50 MMBtu/hr Capacity, 50 - 100 MMBtu/hr Capacity, 100 - 250 MMBtu/hr Capacity, Above 250 MMBtu/hr Capacity); Application (Residential, Commercial, Industrial)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 32 Featured) -

• A. O. Smith Corporation
• Baxi Heating
• Bosch Industriekessel GmbH
• Cemline Corporation
• Cleaver-Brooks
• Doosan Babcock
• Electro Industries
• Fulton Companies
• INDECK Power Equipment Company
• Johnston Boiler Company
• Miura Boiler Co., Ltd.
• Nationwide Boiler Inc.
• Power Mechanical, Inc.
• Precision Boilers
• R.F. MacDonald Co.
• Stiebel Eltron
• Thermal Solutions Products LLC
• Thermolec Ltd.
• Unilux Advanced Manufacturing, LLC
• Viessmann Group

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

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