Low-Voltage Commercial Electric Boiler Market Overview:
As per MRFR analysis, the Low-Voltage Commercial Electric Boiler Market Size was estimated at 0.98 (USD Billion) in 2022.The Low-Voltage Commercial Electric Boiler Market Industry is expected to grow from 1.01(USD Billion) in 2023 to 1.3 (USD Billion) by 2032. The Low-Voltage Commercial Electric Boiler Market CAGR (growth rate) is expected to be around 2.87% during the forecast period (2024 - 2032).
Key Low-Voltage Commercial Electric Boiler Market Trends Highlighted
The Low-Voltage Commercial Electric Boiler Market is witnessing significant growth, driven by increasing electrification across commercial spaces. Rising energy costs and environmental concerns are fueling the demand for energy-efficient heating solutions, making Low-Voltage electric boilers an attractive option. The adoption of smart grid technologies enables remote monitoring and control, further enhancing the appeal of these boilers.Key market drivers include government incentives for energy conservation, advancements in boiler design and efficiency, and increasing awareness of the environmental benefits of electric heating. Opportunities lie in the expansion of commercial construction, retrofitting of existing buildings, and the growing popularity of renewable energy sources as complementary power supplies.Recent trends indicate a shift towards modular and compact designs to optimize space utilization in commercial facilities. The integration of sensors and IoT capabilities allows for real-time monitoring and predictive maintenance, reducing downtime and improving efficiency. Furthermore, the increasing adoption of low-carbon technologies and the drive towards net-zero emissions are shaping the future of the Low-Voltage Commercial Electric Boiler Market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Low-Voltage Commercial Electric Boiler Market Drivers
Rising Demand for Energy-Efficient Heating Solutions
The increasing focus on energy conservation and sustainability in commercial buildings has become a driving force in the Low-Voltage commercial electric boilers market. Low-voltage commercial electric boilers can be operated more efficiently than conventional heating systems. By doing so, the operational cost of these boilers is significantly decreased. This advantage stems from the fact that electric boilers have the opportunity to make use of renewable energy sources, such as solar and wind power.This becomes of crucial importance due to the global movement towards decarbonization, which, in turn, can escalate the attractiveness of electric boilers. Moreover, the governmental requirements and incentives associated with the energy efficiency of commercial facilities create a favorable market condition for the promotion of Low-Voltage commercial electric boilers.
Growing Adoption of Electric Heating in New and Renovated Buildings
The construction and renovation of commercial buildings are one of the most prospective options for the penetration of low-voltage commercial electric boilers. With time, more and more architects, engineers, and building owners have started comprehending the potential benefits of electric heating. These devices are beneficial as they are clean, easy to install, and can provide accurate temperature control. Whereas it is quite simple to design a new building with an electricity supply suitable for electric boilers, the latter can also be used for heating in the case of the renovation of commercial buildings.In this way, to ensure the best possible energy efficiency of the building, the old ineffective or even dangerous heating units can be replaced by electrical boilers.
Technological Advancements and Innovation
Ongoing technological advancements are continuously improving the performance and capabilities of Low-Voltage commercial electric boilers. Manufacturers are investing in research and development to enhance efficiency, reduce size, and integrate smart features. The integration of sensors, controls, and connectivity allows for remote monitoring, automated operation, and optimized energy management. These advancements are making electric boilers more attractive to commercial building owners and operators who are seeking cost-effective and reliable heating solutions.
Low-Voltage Commercial Electric Boiler Market Segment Insights:
Low-Voltage Commercial Electric Boiler Market Power Rating Insights
The power rating segmentation for the Global Low-Voltage Commercial Electric Boiler Market is as follows: it is segmented by 10 kW, 10-30 kW, 30-50 kW, >50 kW, 10 kW is expected to dominate the market, and is likely to hold the largest revenue share of approximately 40% in 2023, on account of increasing adoption of low power electric boilers in small commercial buildings. Small commercial buildings primarily consist of offices, retail stores, and restaurants which are increasingly adopting electric boilers for heating in small rooms or spaces ranging from small offices and store rooms.The 10-30 kW segment is expected to grow at a significant rate during the forecast period. Growing demand for energy-efficient heating systems in medium-sized commercial buildings is expected to be the key factor for segment growth. The 30-50 kW’ and >50 kW’ segments are expected to grow at a significant rate due to the increasing number of large commercial buildings. These buildings are capable of housing over a hundred rooms and this is expected to boost the segment growth over the forecast period. The Global Low-Voltage Commercial Electric Boiler Market is anticipated to grow in the upcoming years owing to its various advantages.It allows the adoption of electrification of HVAC, providing electrical companies with a new field of growth, cost-effective heating for the commercial sector, and environment-friendly heating compared to oil burners that currently heat most buildings.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Low-Voltage Commercial Electric Boiler Market Application Insights
Low-voltage commercial electric boilers are used for space heating, water heating, and various industrial processes. The space heating application segment is expected to be the largest, with an estimated market share of over 60% in 2023. The water heating segment will be the second, with a market share of at least 25%. Industrial applications for Low-Voltage commercial electric boilers will be the remaining of the market share. The space heating segment will grow in the medium term, as there is currently an increasing demand for energy-efficient space heating solutions in colder regions.The water heating segment will be the most promising as more and more businesses, institutions, and individuals switch to electric water boilers. Finally, industrial applications of Low-Voltage commercial electric boilers will grow at a slow pace since they are already in use across various industrial sectors. The market will be driven by the growing demand for energy-efficient heating solutions and the increasing popularity of electric water heaters.
Low-Voltage Commercial Electric Boiler Market Voltage Insights
The voltage segment plays a crucial role in the Global Low-Voltage Commercial Electric Boiler Market. In 2024, the 100-240V voltage range dominated the market with a revenue share of around 45%. This dominance is attributed to the widespread adoption of low-voltage boilers in residential and commercial buildings, owing to their compact size, ease of installation, and cost-effectiveness. The 240-480V voltage range is projected to witness significant growth over the forecast period, driven by rising demand for higher-capacity boilers in industrial and commercial applications.Moreover, the increasing adoption of electric boilers as a sustainable alternative to fossil fuel-based systems is expected to fuel the growth of this segment. The 480-600V voltage range holds a niche market share, primarily catering to heavy-duty industrial applications. These boilers offer high power output and are often used in manufacturing facilities, warehouses, and other large-scale operations.
Low-Voltage Commercial Electric Boiler Market End-User Insights
The end-user segment of the Global Low-Voltage Commercial Electric Boiler Market can be classified into residential and commercial. The residential segment held the largest market share in 2023, accounting for around 60% of the global revenue. This is primarily due to the growing adoption of electric boilers in residential buildings as a clean and efficient alternative to traditional fossil fuel-based heating systems. The commercial segment is expected to witness significant growth during the forecast period, owing to the increasing demand for energy-efficient heating solutions in commercial buildings such as offices, hospitals, and educational institutions.By 2027, the commercial segment is projected to account for approximately 40% of the global Low-Voltage Commercial Electric Boiler Market revenue.
Low-Voltage Commercial Electric Boiler Market Technology Insights
The Global Low-Voltage Commercial Electric Boiler Market is segmented by Technology into Immersion Heaters, Electrode Boilers, and Induction Boilers. The Immersion Heaters segment held the largest market share in 2023, accounting for over 60% of the Global Low-Voltage Commercial Electric Boiler Market revenue. The segment is expected to continue its dominance over the forecast period, owing to its cost-effectiveness and ease of installation. The Electrode Boilers segment is expected to witness the highest growth rate over the forecast period due to its high efficiency and compact size.The Induction Boilers segment is expected to account for a smaller share of the market but is expected to grow at a steady pace over the forecast period.
Low-Voltage Commercial Electric Boiler Market Regional Insights
The regional segmentation of the Global Low-Voltage Commercial Electric Boiler Market offers valuable insights into the geographic distribution of revenue and market growth. North America holds a significant market share, driven by factors such as increasing energy efficiency regulations and growing demand for sustainable heating solutions. Europe follows closely, with a strong focus on decarbonization and renewable energy initiatives. The APAC region exhibits promising growth prospects due to rapid urbanization and industrial development, particularly in China and India.South America and MEA represent emerging markets with increasing demand for low-voltage commercial electric boilers as they seek to modernize their infrastructure and reduce carbon emissions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Low-Voltage Commercial Electric Boiler Market Key Players And Competitive Insights:
Major players in the Low-Voltage Commercial Electric Boiler Market industry are focusing on expanding their product portfolio by introducing new products and technologies. Leading Low-Voltage Commercial Electric Boiler Market players are also investing in research and development to improve the efficiency and performance of their products. The Low-Voltage Commercial Electric Boiler Market is witnessing a trend towards the adoption of smart technologies, which allow users to remotely monitor and control their boilers. This trend is expected to continue in the coming years as smart technologies become more affordable and accessible.A leading player in the Low-Voltage Commercial Electric Boiler Market is Bosch. The company offers a wide range of Low-Voltage commercial electric boilers, which are designed to meet the needs of a variety of applications. Bosch boilers are known for their high efficiency, reliability, and durability. The company also provides a comprehensive range of services, including installation, maintenance, and repair.A competitor of Bosch in the Low-Voltage Commercial Electric Boiler Market is Viessmann. Viessmann is a global manufacturer of heating, cooling, and ventilation systems. The company offers a wide range of Low-Voltage commercial electric boilers, which are designed to meet the needs of a variety of applications. Viessmann boilers are known for their high efficiency, reliability, and durability. The company also provides a comprehensive range of services, including installation, maintenance, and repair.
Key Companies in the Low-Voltage Commercial Electric Boiler Market Include:
- Rinnai
- Johnson Controls
- Embraco
- Lochinvar
- NIBE
- Siemens
- Climaveneta
- Stiebel Eltron
- Remeha
- ElectraTherm
- Aalberts Integrated Piping Systems
- Bosch Thermotechnology
- Navien
- Laars Heating Systems
- FPT Industriale
- Danfoss
Low-Voltage Commercial Electric Boiler Market Industry Developments
The global Low-Voltage Commercial Electric Boiler market is projected to reach USD 1.3 billion by 2032, exhibiting a CAGR of 2.87% during the forecast period. Increasing demand for energy-efficient heating solutions and government initiatives to promote renewable energy sources are driving market growth. Furthermore, rising awareness about the environmental impact of fossil fuels has spurred the adoption of electric boilers.Key recent developments include the launch of advanced electric boiler models with improved efficiency and control systems. Additionally, strategic partnerships between manufacturers and energy providers are facilitating the integration of electric boilers into smart energy grids.
Low-Voltage Commercial Electric Boiler Market Segmentation Insights
Low-Voltage Commercial Electric Boiler Market Power Rating Outlook
- 10 kW
- 10-30 kW
- 30-50 kW
- >50 kW
Low-Voltage Commercial Electric Boiler Market Application Outlook
- Space Heating
- Water Heating
- Industrial Processes
Low-Voltage Commercial Electric Boiler Market Voltage Outlook
- 100-240V
- 240-480V
- 480-600V
Low-Voltage Commercial Electric Boiler Market End-User Outlook
Low-Voltage Commercial Electric Boiler Market Technology Outlook
- Immersion Heaters
- Electrode Boilers
- Induction Boilers
Low-Voltage Commercial Electric Boiler Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
0.98(USD Billion) |
| Market Size 2023 |
1.01(USD Billion) |
| Market Size 2032 |
1.3(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
2.87% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Rinnai, Johnson Controls, Embraco, Lochinvar, NIBE, Siemens, Climaveneta, Stiebel Eltron, Remeha, ElectraTherm, Aalberts Integrated Piping Systems, Bosch Thermotechnology, Navien, Laars Heating Systems, FPT Industriale, Danfoss |
| Segments Covered |
Power Rating, Application, Voltage, End-User, Technology, Regional |
| Key Market Opportunities |
Energy efficiency improvements Government incentives Growing demand in emerging markets Technological advancements Urbanization |
| Key Market Dynamics |
Surging construction activity Government initiatives Technological advancements Growing awareness of energy efficiency Increasing demand for sustainable heating solutions |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Global Low-Voltage Commercial Electric Boiler Market is expected to reach a valuation of approximately 1.01 Billion USD in 2023.
The Global Low-Voltage Commercial Electric Boiler Market is projected to grow at a CAGR of 2.87% from 2024 to 2032.
North America is expected to hold the largest market share in the Global Low-Voltage Commercial Electric Boiler Market in 2023.
The commercial sector is expected to drive the growth of the Global Low-Voltage Commercial Electric Boiler Market.
Some of the key competitors in the Global Low-Voltage Commercial Electric Boiler Market include Viessmann, Bosch, and Buderus.
The key factors driving the growth of the Global Low-Voltage Commercial Electric Boiler Market include the increasing demand for energy-efficient heating solutions and the growing construction industry.
The challenges faced by the Global Low-Voltage Commercial Electric Boiler Market include the high cost of installation and the competition from other heating technologies.
The opportunities for growth in the Global Low-Voltage Commercial Electric Boiler Market include the increasing demand for sustainable heating solutions and the growing awareness of the benefits of electric boilers.
The key trends in the Global Low-Voltage Commercial Electric Boiler Market include the increasing popularity of smart boilers and the growing adoption of renewable energy sources.
The Global Low-Voltage Commercial Electric Boiler Market is expected to reach a valuation of approximately 1.3 Billion USD by 2032.
