Stringent Regulations Regarding Energy Conservation and Growing Adoption of Iot Technology in Boilers to Bolster the U.S. Residential Boiler Market Growth

Wed, 30 September 2020 6:09

Rising standards and regulations outlined by various organizations, such as the Department of Energy (DOE) that focuses on the energy efficiency of the boilers, have driven the growth of the high-efficiency boiler segment across the residential sector in the last few years. This growth is further supported by the inhabitants that have become more aware of the effects of carbon emissions on the environment and rising energy costs. This industry trend is expected to follow the years to come and have an impact on the wholesalers and the manufacturers in the market that are focusing on switching and expanding towards high-efficiency boiler segments by launching new products and diversifying their existing product portfolio. For instance, on September 3, 2020, Weil-McLain launched Eco-Tech boilers that feature an AFUE rating of 95%.

In light of the rising disposable incomes of the individuals, more focus on comfort and custom homes has been observed. Thus, to meet these evolving demands, the manufacturers are willing to adopt technologies such as integrating digital and IoT systems that can offer the customer an effective system monitoring, control, and better efficiency.  

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Impact of COVID-19

The pandemic crisis has created both doubts and opportunities for the players engaged in the boiler business. As the uncertainty around the pandemic rises, it is further pushing the individuals to seek more energy-efficient solutions that can survive through lockdowns. This has created a lucrative growth opportunity for the manufactures of residential boilers as the individuals are spending more time at home and consuming electricity at a significant rate, owing to which they are willing to upgrading their heating systems with more energy-efficient boilers to reduce energy consumption and electricity bills. However, it can also be stated that the potential recession faced by the U.S. economy is likely to incline the homeowners towards opting for less expensive brands or fixing their existing equipment versus replacing with new boilers.

Key Highlights

  • The U.S. residential boiler market is forecasted to grow with a CAGR of xx% due to changing climatic conditions and the need for energy-efficient heating applications
  • The fire-tube boiler segment holds the largest market share backed by its plethora of applications and lower costs
  • Northeast area is projected to hold the highest market share during the forecast period due to the changing climatic conditions and freezing temperatures

Key Players

  • Weil McClain
  • ECR International, Inc
  • S. Boiler Company, Inc
  • Rinnai America Corp.
  • Slant/Fin Corporation
  • Navien Inc.
  • LAARS Heating Systems Co.
  • Triangle Tube
  • Energy Kinetics
  • Watts Water Technologies, Inc.
  • O. Smith Corporation
  • Rheem Manufacturing Company
  • Smith Cast Iron Boilers

The U.S. Residential Boiler Market: Segmentation

By Type

  • Fire Tube
  • Water Tube
  • Electrical

By Technology

  • Condensing
    • Combi Boilers
    • System Boilers
    • Conventional Boilers
  • Non-Condensing

By Fuel

  • Natural Gas
  • Electricity
  • Oil

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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