United States (USA) Residential Boiler Market Research Report, 2029

The residential boiler market in the United States is experiencing a dynamic transformation, driven by advancements in technology, a growing emphasis on energy efficiency, and changing consumer preferences toward sustainable heating solutions. Temperature change is among the most crucial aspect that drives household energy demand in both developed and emerging economies. As the temperature across the country is continuously rising, it is prompting a need for more efficient and advanced heating and cooling systems across the market. For instance, according to the EPA, since 1901, the average surface temperature across the contiguous 48 states of the U.S. has increased at an average rate of 0.14°F per decade. Since then, in the U.S., adjusting expenditures on the heating and cooling systems of the household is considered one of the simplest ways to respond to climate change. The rising popularity of renewable energy sources such as solar heating systems and heat pumps has witnessed an increasing interest from household owners in recent years. This recent surge in the popularity of such alternatives is primarily driven by the cost-efficiency of these technologies. Additionally, the changing attitude of the inhabitants across the country, which is now more centered on decreasing their dependency on traditional fuels and switching towards cleaner fuels, is further expected to have a positive influence on the demand for these alternatives. The government is taking various initiatives in order to boost the growth of renewable energy sources by bringing down the manufacturing cost of PV modules and offering various incentives, such as sales tax exemptions, income tax credits or deductions, and property tax exemptions or deductions for solar energy systems. As individuals get more inclined towards renewable energy sources for energy generation in households, it is very likely to say that the demand for boilers across the sector will witness a fall. According to the research report "United States Residential Boiler Market Research Report, 2029," published by Actual Market Research, the United States residential boiler market is expected to reach a market size of more than USD 2 Billion by 2029. The boilers market in the U.S. is registering higher growth due to several key factors, such as changing demographics, rising disposable income, and volatile climatic conditions. Residential boilers are primarily used for space and water heating purposes. The tremendous rise in the number of energy-consuming devices in homes and their varying efficiency drive market growth. Growing energy consumption in the residential sector means higher electricity bills and depleting power resources. Thus, consumers are shifting their preference towards energy-efficient products for higher energy savings, which is expected to positively influence the boiler market. In U.S. homes, electricity is largely consumed for heating and cooling due to the diverse geographic locations and drastic changes in the climate. The construction sector in the U.S. has been showcasing tremendous growth. Mergers, acquisitions, and new large-scale projects are expected to position this sector on a high growth trajectory in the coming years. With the rising ongoing construction activities, particularly in emerging economies, there has been an increasing demand for energy-efficient water heating equipment, such as residential boilers, to offer consumers an easy access to warm water. This represents the prime factor currently driving the market growth. In line with this, the rising concerns regarding the heat and pollution generated by boilers have prompted the governments of various countries to undertake stringent initiatives for promoting the establishment of green buildings and uptake of eco-friendly residential boilers as a sustainable heating technology.

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At present, fire tube boilers dominate the market due to their tried-and-tested reliability and efficiency. As will be described, this system indirectly heats water by passing hot gases through tubes surrounded by water. It sealed its lead due to its simplicity in design and ease of maintenance, which comes at a low cost. Further innovations in fire tube technology, such as superior materials and heat exchange processes, better than before, further support continuing domination. Fire tube boilers receive great favor from most homeowners due to the strength and durability they offer, hence their rising demand. Electric Boilers, however, are the fastest-growing segment of the residential market, and the growth is mainly driven by increasing demand for energy efficiency and environmentally-friendly heating options. They directly heat up the water using electricity, thereby getting rid of the emissions that were given off by the combustion-based system. With increasing efficiency and evolving electrical heating technology at lower associated costs, electric boilers will become more attractive. The drive to reduce carbon footprints and the integration of renewable energy sources in homes further drive the growth of this segment. Improvements in smart electric boilers through advanced control systems and thermal storage capabilities are increasing their appeal. Although not as dominant as fire tube systems, Water Tube Boilers offer a number of very strong advantages that justify their market share. Water tube boilers circulate water through tubes, which are then heated by external burners. They are characterized by high efficiency and the ability to withstand higher pressure and temperature levels, which make them appropriate for larger or more demanding residential applications. Advantages include newer material and design developments that help improve efficiency, cutting operational costs; on the other hand, the higher initial investment and maintenance complexity make them less able to diffuse in comparison with fire tube and electric options. Condensing boilers hold the largest share because they provide more energy efficiency and ecological advantages over other categories. These are high-tech devices that recover additional heat from flue gases wasted in non-condensing systems. This excess heat, captured and re-used, helps condensing boilers realize efficiencies of more than 90%, which enormously reduces energy consumption and utility bills. Of recent development in this segment are advanced control systems and enhanced designs in heat exchangers, proving to be performance-enhancing and more reliable. Nevertheless, with more stringent energy efficiency mandates and low-carbon emissions incentives, the residential sector has remained dominated by condensing boilers. Because of the long-term cost savings and environmental benefits, more and more house owners find it very attractive. The Non-Condensing Boilers in this sector are getting a fast-growing demand in the residential segment due to their lower up-front cost and simpler technology. Although non-condensing boiler systems offer less efficient levels compared to condensing boilers, they are still adequate for most residential applications where primary concerns are initial investments. Non-condensing boilers will continue to grow as their design evolves in order to gain efficiency and performance. Innovations in areas such as better insulation and more effective burners make them attractive. Furthermore, the non-condensing models are making up for the inefficiency by using new technology that bridges the gap with the condensing systems, thusly becoming more attractive options in the eyes of budget-friendly consumers. Also, on the positive side, they work well with previously installed heating systems and have proven reliable in various climatic conditions. Gas-Fired Boilers dominate the market, then widespread adoption, efficiency, and convenience. Such systems use natural gas or propane to heat the water. Besides, due to comparatively low running costs and high efficiency, they are preferred. Further improvements or innovations in gas-fired technology like modulating burners and better heat exchangers boost their performance and efficiency, making them very attractive to any householder. Additionally, most countries have a large infrastructure to procure and distribute natural gas, with pro-active government policies toward the natural gas variant, which supports its dominance. Improvements in gas-fired systems, including smart controls and integration into home automation, are further enhancing the leadership of gas-fired systems in the residential segment. Oil-fired boilers are a growing segment because of their effectiveness in locations where there has been a lack of infrastructure for natural gas supply. Oil-fired boilers take heating oil as their fuel source and are particularly valued in the colder regions of the planet, with the higher energy density of oil ensuring, thus ensuring reliable heating. In recent decades, a focus has been placed on developing more efficient and less polluting oil-fired systems. Improvements like advanced burner technologies and insulation materials have enhanced performance and appeal. Due to the fluctuation of oil prices, this is supplemented with the modernization of the already existed fired systems Alsiche, 2008). As much as the oil-fired boiler market is growing, it is still hindered due to the increase in the alternatives to heating and the pressure to move towards greener sources of energy. Biomass boilers, which generate heat from organic fuel such as wood pellets or farm waste, are more attractive to those interested in renewable sources of energy. Due to environmental and regulatory concerns, coal-fired boilers are less common, but they are still in general use. Electric boilers are less efficient in terms of input energy and have a higher impact on the environment compared to gas or oil systems, but where plenty of renewable electricity is available, electric boilers can take a hold.

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Kripa Shah

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Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Residential Boiler market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

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By Type • Fire Tube • Electric • Water Tube By Technology • Condensing • Non Condensing By Fuel Type • Gas Fired • Oil Fired • Others The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Residential Boiler industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry. Keywords: Residential Boiler, Fire Tube, Electric, Water Tube, Condensing, Non Condensing, Gas Fired, Oil Fired