Electric Boiler Market Outlook Report - Market Size, Share Analysis and Forecast (2025-2034)

The global electric boiler market size reached a value of around USD 9.64 Billion in 2024. The market is further expected to grow at a CAGR of 9.40% between 2025 and 2034, reaching a value of around USD 23.67 Billion by 2034.

Key Trends in the Market

An electric boiler is a device that heats water or steam, running on electricity instead of combustible fossil fuels like gas or oil. Electric boilers work by forcing flowing water through a heated element that is powered by electricity. They convert electrical energy into thermal energy to facilitate the process of heating water.

• The demand for electric boilers is anticipated to rise as the utilisation of energy-efficient heating systems increases. Electric boilers are gaining popularity and are quickly replacing traditional boiler technologies in order to reduce carbon emissions.
• Additionally, consumers are favouring electric heating options due to the rising costs of fossil fuels around the globe. This, in turn, is projected to positively impact the growth of the market for electric boilers over the upcoming years.
• One of the key electric boiler market trends is the growing need for space and water heating solutions, driven by increasing urbanisation, industrialisation, and population growth. The demand for boilers has significantly propelled across many commercial infrastructures, including schools, airlines, and government buildings.

Global Electric Boiler Market Segmentation

The report titled “Global Pharmaceutical Packaging Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Hot Water Boiler
• Electric Steam Boiler

Market Breakup by Category

• Traditional Electric Boilers
• Smart Electric Boilers

Market Breakup by End-Use

• Residential
• Commercial
• Industrial

Market Breakup by Distribution Channel

• Online
• Offline

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Global Electric Boiler Market Share by End-Use

Globally, the need for space heating is growing, which is driving up demand for electric boilers in the residential sector. Residential buildings are a significant source of carbon emissions and are rapidly adopting electric systems for energy optimisation and consumption control, increasing the demand for electric boilers in residential end uses. Meanwhile, industrial end-uses of electric boilers are anticipated to witness steady growth in the coming years as more industries invest in efficient and sustainable heating solutions.

Global Electric Boiler Market Share by Region

At a regional level, North America is expected to grow significantly in the market for electric boilers due to the strict decarbonisation goals and emission reduction targets. Ambitious net-zero emission targets have been established by countries such as the United States and Canada, incentivising the conversion of residential, commercial, and industrial infrastructures from fossil fuel to electric systems. Due to the extensive cold weather in parts of North America, there is a steady demand for heating, which is anticipated to further support the electric boiler market growth in the region.

Competitive Landscape of Electric Boiler Industry

The comprehensive report provides an in-depth assessment of the market based on the Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global electric boiler market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

Nibe Energy Systems Limited

Nibe Energy Systems Limited, established in 2006 with its headquarters in Derbyshire, England, is one of the top producers of home heating equipment. They provide cutting-edge solutions for heating, ventilation, cooling, and heat recovery that correspond to the current demand for environmentally friendly building.

Elnur UK Ltd

Elnur UK Ltd, founded in 1973 and headquartered in Lancashire, England is one of the top suppliers of effective heating systems. The company has gained international recognition and is one of the most forward-thinking producers of electric heating systems.

Precision Boilers, LLC

Precision Boilers, LLC, established in 1946, is a manufacturer of industrial-grade boilers and accessories for use in a wide range of applications. Headquartered in Tennessee in the United States, the company's custom engineered solutions are used in nuclear power plants, hospitals, and food processing facilities.

Other market players include Reimers Electra Steam, Inc., Thermo 2000 Inc, Acme Engineering Products Ltd., ACV UK Ltd, Babcock Wanson Ltd, Robert Bosch GmbH, and Cerney S.A., among others.