#Residential #Boiler #Market #Expected #Reach
Portland, OR, Oct. 07, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global residential boiler market was estimated at $7.6 billion in 2021 and is expected to hit $12.5 billion by 2031, registering a CAGR of 5.2% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market. The report is exclusively meant to help the readers with a comprehensive valuation of industry analysis and trends.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $7.6 Billion |
| Market Size in 2031 | $12.5 Billion |
| CAGR | 5.2% |
| No. of Pages in Report | 239 |
| Segments Covered | Type, Technology, Fuel Type, and Region. |
| Drivers | Increase in demand for space and water heating systems |
| Restraints | High cost associated with the installation and maintenance |
| Opportunities | Technological advancement toward improving energy efficiency of residential boilers |
Covid-19 scenario-
- Halted activities in several industries such as building & construction, oil & gas, and transportation gave way to declined demand for heating appliances, which impacted the global residential boiler market negatively, especially during the initial period.
- Drop in the LNG & crude oil prices also affected the market growth. However, the market has now reinstated its growth curve back.
The global residential boiler market is analyzed across type, technology, fuel type, and region. The report takes in an exhaustive analysis of segments and their…
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