Global Residential Boiler Market 2025–2034

Reports Description

Global Residential Boiler Market was valued at USD 32,829 Million in 2025 and is expected to reach USD 56,501.3 Million by 2034 at a CAGR of 5.58% during the forecast period 2025 – 2034.

The residential boiler is a hydroponic heating system that is used in various residential buildings for water heating. The boiler device converts chemical energy into thermal energy. It consists of components like heating coils, radiators, or baseboards that help heat the water and maintain the tank’s temperature.

The boilers are widely used across different residential sectors such as houses, farmhouses, public buildings, and other residential places. The boiler system has multiple advantages, such as high reliability, less pollution, prolonged shelf-life, easy maintenance, etc.

A boiler is usually situated on the top of a burner, which contains certain fuels such as coal to produce heat. In countries like the US, natural gas is commonly used and transferred across residential homes through pipelines that are spread across the roads.

In rural areas, propane gas is used inside a large tank containing propane gas and kept in the house yard. Two types of boiler systems are available in the commercials: condensing and non-condensing boilers.

Residential Boiler Market: Growth Factors

The Rapidly Expanding Residential Sector

Rapid urbanization and changing lifestyle preferences have shifted customers toward residential heating systems. The residential construction industry is expected to grow significantly during the next couple of years due to growing supportive policies by various governments, increasing disposable income and growing investment by the private sector in the residential construction sector.

Thus, the rapidly expanding construction industry is expected to increase the demand for heating equipment across residential sectors, thereby driving the market growth. For instance, government of India has launched the Housing for All, Pradhan Mantri Awas Yojana (PMAY), and Smart cities mission to boost the residential infrastructure across the country, such flagship schemes are expected to create demand for residential heating systems during the forecast period.

Additionally, growing foreign direct investment in the residential construction sector, favourable tax concession policies for the residential construction sector, growing demand for houses in developing countries due to increasing population, and growing renovation and reconstruction activities of residential properties in developed countries are some of the factors expected to drive the demand for residential boiler market.

Stringent Government Regulations to Limit the Carbon Emissions

The residential boiling systems are anticipated to grow at a high rate because of the increasing preference for environmentally friendly products across the globe. As per the environmental concern regarding heat and pollution, the government promotes the adoption of environment-friendly residential boilers for sustainable living.

This will ensure the reduction of the emission of harmful greenhouse gases. Moreover, the rapid investments in research and development activities have led to developing a modified version of boiler systems, driving market growth.

The wide usage of heating boiler systems in the residential construction of regions with harsher climate conditions is supposed to aid market growth. Europe and North America witness harsher climatic conditions such as cold waves, extreme rain, and snowfall.

To cope with such type of harsher climatic conditions, consumers are opting for residential boilers. Thus, the aforementioned factors are expected to drive the demand for residential boilers during the forecast period.

Residential Boiler Market: Restraints

Easy Availability of the Alternatives

Residential boiler heating systems are facing intense competition from various alternatives such as heat pumps, solar thermal, biomass boilers, electric boilers, infrared heating panels, and ground source heating panels.  The easy availability of these alternatives at low cost is creating difficulties in market growth.

The key players operating in the market are facing intense competition from the rivalries and witnessing sales reduction. Growing counterfeiting issues are also restraining the market growth. The counterfeiting of residential boilers is becoming a major concern for the key players.

It reduces the trustworthiness of original products and creates ambiguity about products. Thus, such factors are discouraging new investment in the market, thereby restraining the overall market growth.

High Costs of Residential Boilers

The residential boiler is manufactured by using various raw materials such as fireclays, alumina, chromite, copper alloys, aluminum, cast iron, and alloy steel. The cost of these raw materials fluctuates periodically due to supply chain disturbances. Furthermore, high energy costs are associated with the operation and maintenance of residential boilers.

Thus, such factors are increasing the residential boiler’s overall production and operating cost, thereby reducing the profit margin. These costs prove prohibitive to budget-driven consumers, particularly those from developing and underdeveloped regions. Thus, such factors are restraining the market growth.

Residential Boiler Market: Opportunity

Technological Advancements in the Residential Boilers

The key players operating in the global market have the advantages of economies of scale and are continuously spending on modern R&D resources and technological innovations. Various technological innovations such as smart controls, diagnostic systems, and integration of emerging technologies such as Artificial Intelligence, etc., are expected to create lucrative opportunities for the market during the forecast period.

The major key players operating in the market are integrating smart control technologies, such as residential boilers that can be controlled by a smartphone or tablet for better temperature regulation and monitoring. This advancement not only improves the user convenience but also enables better temperature regulation and monitoring.

Another major technological innovation in diagnostic systems is a diagnostic system. The key players are integrating the automated diagnostic system to reduce operational failures. The residential boiler can alert homeowners about potential issues before they become major problems.

Residential Boiler Market: Segment Analysis

The global residential boiler market is segmented by type, by fuel type, by technology, by region. The residential boiler market is bifurcated by type into a water tube, fire tube, and electric boiler. Among all of these, the fire tube boiler held the largest market share in 2023 and is expected to keep its dominance during the forecast period.

The increasing demand for tube boilers in case of space heating and water heating is widely used across residential places. Apart from that, the high demand for warm air and hot water in the cold regions of North America and Europe is expected to propel the market for the tube boiler segment in the forecast period.

The residential boiler market is segmented by fuel type as coal-fired, gas-fired, oil-fired, and others. Among all of these, gas-fired segments held the largest market share, accounting for 70.3% of the global share in 2023, and is expected to keep its dominance during the forecast period.

The growth can be attributed to the rise in demand for heating boiler systems across different residential sectors. Along with the increasing demand, it has several advantages such as safe operation, comfortable system, cost-effectiveness, environment friendliness, energy saving capacity, etc.

Gas boilers are either fuelled with propane gas or natural gas with some modifications due to their characteristics. Natural gas is widely used in developed or developing regions, while propane gas is widely used in village areas where the furnaces are filled with propane gas across the house’s yard.

The propane is transferred to the large tank via truck. The capacity of the large tank is around 500 gallons. As compared to natural gas, propane is a more expensive fuel.  On the other hand, natural gas boilers are widely used in industrial sectors and are constructed to tolerate high temperatures and thermal resistance.

The residential boiler market is segmented by technology into condensing and non-condensing segments. Among all of these, a condensing segment dominated the market in 2023 and is expected to grow at a significant growth rate during the forecast period.

This is due to the rise in demand for heat-efficient and energy-efficient heating products that consume less amount of fuel. The other benefits contributing to this segment’s growth are carbon footprint reduction, high efficiency, acquiring less space, cost-effectiveness, etc.

Condensing boilers are widely used across different regions due to their high heating efficiency and minimal energy wastage capacity. Condensing boilers are the type of water heaters that are either fuelled by oil or gas. The fuel is burned, and the gases are released and cross through the heat exchanger through which the water inside the container gets heated.

Nowadays condensing systems are developed using advanced techniques to fully replace conventional systems. These systems are widely used in regions like North America and Europe as central heating systems. However, the condensing boiler systems are considered less reliable than other boilers. Therefore, it is important to understand the system’s proper function to make it work efficiently.

Report Scope

Residential Boiler Market: Regional Analysis

Based on Region, the Residential Boiler market is segmented into North America, Asia Pacific, Europe, Middle East & Africa, and Latin America. Among all of these, the Asia-Pacific held the largest market share in 2023 and continues to dominate the market with a CAGR rate of 5.9% during the forecasting period due to the rapidly expanding residential construction industry in the region.

Key countries such as China, India, Japan, ASEAN, and South Korea are mainly driving the growth of this region’s market. The high demand for domestic water heating systems across residential areas of APAC, such as homes, farmhouses, public buildings, etc., drives the market growth in such regions.

Furthermore, the advantageous properties of the system, like prolonged shelf-life, high reliability, and cost-effectiveness, have led to the rapid adoption of the boiler systems across the developing regions, increasing the market value.

Recently, residential boiler systems have gained a wide response from homes and apartments due to their efficient heating capabilities and other supportive factors. Apart from that, the increasing construction of different industries across developing regions like China and India have ultimately led to the high demand for residential boiler systems.

Residential Boiler Market: Recent Developments

• In October 2021, A.O. Smith Corp. took Giant Factories Inc., a Canadian water heater manufacturer, to develop water heaters for residential and commercial sectors. This acquisition also promotes market penetration across North America and enhances the market value across such regions.

• In June 2021, Viessmann, a hydronic heat manufacturing company, announced its newly developed products to be launched at an upcoming event. The new products are expected to have new advanced techniques associated with digital applications that could attract homeowners and contractors.

• In April 2021, Weil-McLain announced a partnership with the plumbing and mechanical firm to construct a hydronic heating system. Weil-McLain is the leading North American designer who created the heating system.

• In April 2021, Mestek Inc. announced the involvement of Slant/Fin’s baseboard assets, which is leading the construction of the hydronic baseboard radiation. Mestek manufactures specialized heating and air conditioning systems for industrial, residential, and commercial spaces.

• Noritz Corporation acquired a manufacturer of high-efficiency, stainless-steel boilers, LLC, to strengthen its position in the heating equipment industry. Noritz is an American-based company that was constructed in 2001 to develop environmentally friendly water heater technology.

List of the prominent players in the Residential Boiler Market:

• Ariston Group
• BDR Thermea Group
• Groupe Atlantic
• Viessmann
• Vaillant Group
• Robert Bosch
• Ideal Heating
• PB Heat
• Unical Ag Spa
• Daikin Industries
• Smith Corp
• Bradford White Corporation
• Ferroli S.p.A.
• Smith Boilers
• Thermona
• S. Boiler Company
• Viessmann
• Weil-McLain
• Wolf
• Others

The Residential Boiler Market is segmented as follows:

By Type

• Water Tube Boiler
• Fire Tube Boiler
• Electric Boiler

By Fuel Type

• Coal Fired
• Oil Fired
• Gas Fired
• Others

By Technology

• Condensing
• Non-condensing

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America