Residential Boiler Market Report Offers A One-Stop Solution To All The Key Players by 2030
Market overview: The Global Residential Boiler Market was worth USD 8.57 billion in 2020 and is expected to be worth USD 13.74 billion by 2028, growing at a CAGR of 6.16 per cent between 2021 and 2028. As more commercial and residential buildings use heat pumps to generate heat and coolness, there is a greater demand for energy-efficient boilers. Because heat pumps are known to be more energy efficient than older systems like furnaces and radiators, advancements in heat pump technology are a driving force in the market. This is expected to lead to an increase in the number of buildings switching to heat pumps. The government's emphasis on energy efficiency is another factor that is expected to contribute to the rising demand for energy-efficient boilers. Furthermore, ongoing investments in the green building industry will boost the market growth. Furthermore, rising efforts to reduce GHG emissions and the increasing adoption of stringent regulatory measures are some of the sign