Residential boilers are used for heating water for various purposes. The source of heat for a boiler is combustion of any of the fuels such as wood, coal, oil, or natural gas. Residential boilers transfer the heat to water which circulates through the radiators for heating purpose. Efforts are taken toward reducing the emission of harmful gases and improving the air quality through the use of residential boilers.
The residential boilers market can be segmented based on product, technology, and region. In terms of product type, the residential boilers market can be classified into fire tube residential boilers, water tube residential boilers, and electrical residential boilers. Fire tube boilers comprise a series of straight tubes which are housed in the interior part of a water-filled outer-shell. Water tube boilers are manufactured and assembled as such that they circulate hot combustible gases around the outer area of large number of water-filled tubes. Electrical residential boilers use electricity as the prime source of energy for heating water. In terms of technology, residential boilers are divided into condensing and non-condensing boilers. Condensing residential boilers are fueled by oil or gas to heat water with better efficiency. Non-condensing residential boilers are the traditional boilers which use the waste heat in flue gas to preheat the cold water entering the boiler. Residential boilers are used primarily in residential constructions. However, they are also used in the commercial and industrial segments. Residential boilers find their usage in the cold countries for the purpose of heating water.
Advantages of residential boilers are that they are eco-friendly in nature and help in curbing environmental pollution. High quality of heat is generated for the residential boilers which helps in saving electricity. New technologies and various products are emerging to further develop and reduce the costs of residential boilers. Maximum thermal efficiency is obtained with the help of residential condensing boilers. Subsidies are granted by the government for the installation of residential boilers in order to curtail pollution.
High production cost of boilers is a major restraint of the residential boilers market. Furthermore, maintenance and installation of boilers is complex which needs to be tackled. Large diameters of cylinders are required to install residential boilers. The heat emitting from the radiators of the residential boilers is hot to bear.
In terms of geography, the residential boilers market in countries in Asia Pacific such as India, China, and Japan has witnessed significant growth due to concerns about environment pollution and rise in demand for electricity. North America is the emerging market for residential boilers due to significant growth in the industrial sector and efforts toward reducing emissions in the region. In Europe, countries such as the U.K., Germany, and France have promoted the usage of residential boilers owing to industrial advancement and move toward curbing harmful gases and environmental pollution. Furthermore, countries in Latin America such as Brazil and Mexico have considerably increased the demand for residential boilers. Countries in Africa such as South Africa and Angola are projected to offer lucrative opportunities for the residential boiler market in the next few years as efforts are being taken toward reducing emissions.
Notable key players in residential boiler market are Thermax, Bosch, Baxi, Parker Boiler, and Suadi Boilers.
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.