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.
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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.
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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.