Electric Boiler Market: Introduction
- 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.
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.
Key Players Operating in the Global Electric Boiler Market
- 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
- VirtualExpo Group
Global Electric Boiler Market: Research Scope
Global Electric Boiler Market, by Product Type
- Hot Water Boilers
- Steam Water Boilers
Global Electric Boiler Market, by Category
- Traditional Electric Boilers
- Smart Electric Boilers
Global Electric Boiler Market, by Storage
- Storage Electric Boilers
- Non-storage Electric Boilers
Global Electric Boiler Market, by Size
Global Electric Boiler Market, by End-use
Global Electric Boiler Market, by Price
Global Electric Boiler Market, by Distribution Channel
- E-commerce Websites
- Company Owned Websites
- Hypermarkets and Supermarkets
- Specialty Stores
- Independent Retailers
- Retail Stores
Global Electric Boiler Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.