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Europe Boiler Market By Fuel (Natural Gas, Oil, Coal, Electric), By Capacity (≤ 10 MMBtu/hr, > 10 - 50 MMBtu/hr, > 50 - 100 MMBtu/hr, > 100 - 250 MMBtu/hr, > 250 MMBtu/hr), By Application (Residential, Commercial, Industrial) & Forecast, 2023 - 2032

  • Report ID: GMI2459
  • Published Date: Feb 2023
  • Report Format: PDF

Industry Statistics

Europe Boiler Market size valued at USD 44 billion in 2022 and is projected to expand at more than 8% CAGR from 2023 to 2032, driven by the stringent GHG emission control policies by the government.

The global market for boilers is likely to witness 5.5% CAGR and will cross USD 180 billion by 2032. The growing concern to reduce carbon emissions coupled with the region’s energy crisis has bolstered the demand for energy-efficient boilers in Europe. As per the International Monetary Fund, in 2022, the supply of gas by Russia for heating, power, and electricity purposes encountered a sharp decline of over 80%.

Europe Boiler Market

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To curb the effects of energy crisis and in response to the rising space heating and hot water demand, the government has rolled out supportive policies for increasing the adoption of energy-efficient and renewable heating appliances. In fact, in earlier March 2022, the UK government also announced over £288 million (USD 347 million) in a funding scheme for green heating projects. The EU has set a target of 55% net reduction in GHG emissions by 2030, which calls for energy-efficient heating solutions.

Moreover, advancing a boiler’s efficiency from 56% to 90% using natural gas in an average cold environment will save 1.5 tons of CO2 emission. The rising adoption of advanced heating equipment to save energy is positively contributing to industry growth.

Steep initial prices of boilers may constrain Europe boiler market development

The high installation cost of boilers increases the burden of the initial expenses. Additionally, changing boilers requires maintenance schedules and modification of operation, which may affect product adoption. The high cost is also involved in repairing and replacing the boilers. Due to this reason, many customers in some countries are turning to conventional heat pumps as they are offered subsidies on their purchases which makes the pumps more economical than gas boilers. 

Rising availability of gas reserves to foster industry expansion

Europe Boiler Market Share, By Fuel

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In terms of fuel, the Europe boiler market from natural gas segment is predicted to observe nearly 8% gains between 2023 and 2032, on account of competitive prices of natural gas. The decline in Russian pipeline supplies due to the energy crisis has led to receding natural gas prices, demanding energy-efficient natural gas boilers. This growth is ascribed to the presence of high-capacity gas distribution networks coupled with robust growth of supply gas networks. In fact, the EU gas network can transport and store large quantities of energy, constituting over 200,000 km of transmission pipelines, over 20,000 compressor and pressure reduction stations, and over 2 million km of distribution network. The abundance of gas reserves has also created a strong demand for natural gas-fired boilers in the region.

Upon burning, natural gas yields fewer emissions than burning petroleum or coal products to generate an equal amount of energy. The tightening guidelines to phase out carbon emissions have increased the adoption of natural gas-fired boilers.

Tax credits related to energy-saving technologies to bolster capacity segment growth


Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

In 2022, the market size of Europe boiler recorded a valuation of over USD 44 billion and is poised to grow at over 8% gains through 2032, on account of government protocols to phase out GHG emissions.

The residential application segment is anticipated to grow at more than 8.5% CAGR between 2023 and 2032 owing to increasing measures to save energy.

The France boiler industry is slated to grow at over 8.5% growth rate from 2023 to 2032, due to huge investments in the industrial sector.

Some of the major companies include in the regional market are Babcock Wanson, Bosch Industriekessel, FERROLI, ACV, Ariston Holding, Bharat Heavy Electricals, Babcock & Wilcox, A.O. Smith, Atlantic, and BDR Thermea Group, among others.

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  • Base Year: 2022
  • Companies covered: 40
  • Tables & Figures: 550
  • Countries covered: 9
  • Pages: 556
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