Advancement in technologies and upgrade of electric boilers are driving the demand for the product in the global Electric Boiler Market
Advancement in technologies and upgrade of electric boilers are driving the demand for the product in the global Electric Boiler Market
Published by TMR Research Insights
Posted on October 5, 2021
Key Players Operating in the Global Electric Boiler Market are August Brötje GmbH, BDR Thermea Group, NIBE Energy Systems Limited, P.M. Lattner Manufacturing Co., Precision Boilers, LLC., Reimers Electra Steam, Inc., Thermo 2000 Inc., Tonon Evolution S.R.L., Värmebaronen AB, and VirtualExpo Group
An electric boiler is one that uses electricity instead of combustible fossil fuels such as gas or oil to heat water. An electric boiler is very simple and easy to install, with a lower overall cost of installation than other boilers. They also do not take up a lot of space and can be installed virtually anywhere in a home. Furthermore, they are available in a variety of shapes and sizes. During the forecast period, demand for electric boilers is expected to increase significantly.
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Key Drivers and Opportunities of the Global Electric Boiler Market
The use of high-efficiency-functioning technology is rising as a result of a variety of factors, including increased public awareness about environmental issues. Furthermore, throughout the projected period, government attempts to reduce carbon emissions and rising environmental concerns are likely to drive the expansion of the electric boiler market.
Electric boilers have efficiency levels of up to approximately 98% and minimum noise levels. Moreover, these boilers consume less power. These factors are anticipated to increase the penetration of electric boilers during the forecast period.
Furthermore, manufacturers have an opportunity to invest in research and development and come up with products which are environment friendly i.e. energy efficient, as consumers are now changing their taste and preference toward products which reduce emission. Advancement in technologies and upgrade of electric boilers are driving the demand for the product in the global market.
However, high cost of advanced electric boilers and high maintenance and repairing cost is anticipated to hamper the growth of the electric boiler market during the forecast period.
Asia Pacific to Hold Major Share of the Global Electric Boiler Market
In terms of region, the electric boiler market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
During the forecast period, Asia Pacific is predicted to hold the largest share of the worldwide electric boiler market. Electric boiler demand is also projected to increase in developing countries of Asia Pacific, owing to improving economies and rising disposable income of the people who live there. Moreover, the market for electric boilers is expected to be driven by the ongoing growth of industrialization and commercialization, as well as the easy availability of these boilers in the region.
About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information, we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Key Players Operating in the Global Electric Boiler Market are August Brötje GmbH, BDR Thermea Group, NIBE Energy Systems Limited, P.M. Lattner Manufacturing Co., Precision Boilers, LLC., Reimers Electra Steam, Inc., Thermo 2000 Inc., Tonon Evolution S.R.L., Värmebaronen AB, and VirtualExpo Group
An electric boiler is one that uses electricity instead of combustible fossil fuels such as gas or oil to heat water. An electric boiler is very simple and easy to install, with a lower overall cost of installation than other boilers. They also do not take up a lot of space and can be installed virtually anywhere in a home. Furthermore, they are available in a variety of shapes and sizes. During the forecast period, demand for electric boilers is expected to increase significantly.
Want to know the obstructions to your company’s growth in future? Request a brochure
Key Drivers and Opportunities of the Global Electric Boiler Market
The use of high-efficiency-functioning technology is rising as a result of a variety of factors, including increased public awareness about environmental issues. Furthermore, throughout the projected period, government attempts to reduce carbon emissions and rising environmental concerns are likely to drive the expansion of the electric boiler market.
Electric boilers have efficiency levels of up to approximately 98% and minimum noise levels. Moreover, these boilers consume less power. These factors are anticipated to increase the penetration of electric boilers during the forecast period.
Furthermore, manufacturers have an opportunity to invest in research and development and come up with products which are environment friendly i.e. energy efficient, as consumers are now changing their taste and preference toward products which reduce emission. Advancement in technologies and upgrade of electric boilers are driving the demand for the product in the global market.
However, high cost of advanced electric boilers and high maintenance and repairing cost is anticipated to hamper the growth of the electric boiler market during the forecast period.
Asia Pacific to Hold Major Share of the Global Electric Boiler Market
In terms of region, the electric boiler market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
During the forecast period, Asia Pacific is predicted to hold the largest share of the worldwide electric boiler market. Electric boiler demand is also projected to increase in developing countries of Asia Pacific, owing to improving economies and rising disposable income of the people who live there. Moreover, the market for electric boilers is expected to be driven by the ongoing growth of industrialization and commercialization, as well as the easy availability of these boilers in the region.
About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information, we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
