Residential Boiler Market By Type (Water Tube, Fire Tube, Electric), By Technology (Condensing, Non Condensing), By Fuel Type (Coal Fired, Oil Fired, Gas Fired, Others): Global Opportunity Analysis And Industry Forecast, 2023-2031 , Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Residential Boiler market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Residential Boiler market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get the whole report, which includes a chart and more than 100 tables and figures. – Comprehensive Analysis of COVID-19 Market Outbreak Impact and Regional Situation
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Key Segments Studied in the Global Residential Boiler Market
The global residential boiler market revenue was around US$ 7.8 billion in 2021 and is estimated to reach US$ 12.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.2% during the forecast period from 2022 to 2031.
A residential boiler is a type of heating device that produces heat for applications such as space heating and water heating. By boosting its capacity, it can be applied in commercial settings. Hot water boiler systems are the norm for residential boiler systems. The primary fuel utilized in residential boilers is natural gas. Propane is an expensive alternative fuel to natural gas that can be used in places where it is not readily available. Water for cooking and bathing is also heated by residential boilers. Condensing and non-condensing technologies are both used in home boiler systems.
Factors Influencing Market Growth
An increase in demand for water and space heating systems and strict government rules regarding carbon emissions drives the growth of the residential boiler market.
Residential boiler energy efficiency is expected to improve because of technological innovation which should allow key competitors to keep up with the market.
High production, maintenance, and installation costs as well as an increase in the adoption of renewable heating technologies. Thus, these factors restrain the market growth.
Study of the COVID-19 Pandemic
COVID-19 pandemic had a negative impact on some countries and industries. Globally, the growth rates of industries including building and construction, transportation, oil and gas, and energy sectors have decreased due to the lockdown that has been enforced. Because of this, people’s need for heating appliances has further decreased, which is projected to limit the expansion of the residential boiler market for the upcoming year.
Additionally, as LNG and crude oil prices fell in the second quarter of 2020, gas-fired boilers’ overall revenue decreased as well. The residential boiler market had slower growth in 2020 due to these factors, but it is anticipated that the market will rebound by the end of the second quarter of 2021.
Regional Insights
Asia-Pacific is the region that contributes the highest revenue. This is due to developing economies like India, China, Japan, South Korea, and Australia making efforts to reduce their greenhouse gas emissions, increasing their investments in green buildings, and implementing efficient heating systems. These factors are predicted to fuel the growth of the Asia-Pacific residential boiler market in the upcoming years.
Leading Competitors
The leading competitors in the global residential boiler market are:
Ariston Thermo SpA
Bradford White Corporation
Burnham Holdings
Ferroli S.p.A
Lennox International
Noritz Corporation
Robert Bosch GmbH
Slant/Fin Corporation
SPX Corporation
Viessmann Manufacturing Company, Inc.
Others
Segmentation Analysis
The global residential boiler market segmentation focuses on Type, Technology, Fuel Type, and Region.
Segmentation based on Type
Water Tube
Fire Tube
Electric
Segmentation based on Technology
Condensing
Non Condensing
Segmentation based on Fuel Type
Coal Fired
Oil Fired
Gas Fired
Others
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In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects: Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces. The report also inspects the financial standing of the leading companies, which includes gross profit, revenue generation, sales volume, sales revenue, manufacturing cost, individual growth rate, and other financial ratios. The report basically gives information about the Market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.
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Key Points Covered in Residential Boiler Market Report:
Chapter 1, About Executive Summary to describe Definition, Specifications and Classification of Residential Boiler market, Applications, Market Segment by Regions North America, Europe or Asia;
Chapter 2, objective of the study.
Chapter 3, to display Research methodology and techniques.
Chapter 4 and 5, to show the Overall Market Analysis, segmentation analysis, characteristics;
Chapter 6 and 7, to show the Market size, share and forecast; Five forces analysis (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 8 and 9, to show analysis by regional segmentation, comparison, leading countries and opportunities; Regional Marketing Type Analysis, Supply Chain Analysis
Chapter 10, focus on identifying the key industry influencer’s, overview of decision framework accumulated through Industry experts and strategic decision makers;
Chapter 11 and 12, Market Trend Analysis, Drivers, Challenges by consumer behavior, Marketing Channels and demand & supply.
Chapter 13 and 14, describe about the vendor landscape (classification and Market Positioning)
Chapter 15, deals with Residential Boiler Market sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.
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