Gas Fired Boiler Market Size By Application ( Residential, Commercial {By Application [Office, Healthcare, Institution, Lodging, Retail, Other], By Capacity [<10 MMBtu/hr, 10-50 MMBtu/hr, 50-100 MMBtu/hr, 100 -250MMBtu/hr, >250 MMBtu/hr ]}, Industrial {By Application [Food & Beverage, Pulp & Paper, Chemical, Refinery, Primary Metal, Other manufacturing], By Capacity [<10 MMBtu/hr, 10-50 MMBtu/hr, 50-100 MMBtu/hr, 100-250 MMBtu/hr, >250 MMBtu/hr]}), By Capacity (<10 MMBtu/hr, 10-50 MMBtu/hr, 50-100 MMBtu/hr, 100-250 MMBtu/hr, >250 MMBtu/hr), By Technology (Condensing, Non-Condensing), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2018 – 2024

Published Date: Nov 2018  |  Report ID: GMI3021  |  Authors: Ankit Gupta, Aditya Singh Bais

Report Format: PDF   |   Pages: 830   |   Base Year: 2017

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Gas Fired Boiler Market size was valued over USD 15 billion in 2017 and the annual installation is anticipated to exceed 7 million units by 2024.

Gas Fired Boiler Market

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 Regulatory measures to mitigate the environmental impact of greenhouse gas emissions coupled with increasing demand for space and water heating will drive the gas fired boiler market size. For instance, the European Union has set a target to achieve 40% reduction in GHG levels by 2030. Favorable government policies and initiatives across developing economies to boost the infrastructure spending will further stimulate the product demand.

Rising demand for specialty chemicals and the shift toward consumption of processed food along with resurgent economic growth across key developing countries will drive the industrial gas fired boiler market share. As per UNIDO, manufacturing valued added by chemical industry in 2016, was worth over USD 400 billion. Supportive government policies toward development of industrial facilities along with increasing investment toward expansion of commercial centers will positively impact the business landscape.

Gas Fired Boiler Market Report Coverage
Report Coverage Details
Base Year: 2017 Market Size in 2017: 15 Billion (USD)
Historical Data for: 2013 to 2017 Forecast Period: 2018 to 2024
Forecast Period 2018 to 2024 CAGR: 4% 2024 Value Projection: 20 Billion (USD)
Pages: 830 Tables, Charts & Figures: 1273
Geographies covered (27): U.S., Canada, Mexico, France, UK, Poland, Italy, Spain, Austria, Germany, Sweden, Russia, China, Japan, South Korea, India, Australia, Indonesia, Philippines, Saudi Arabia, UAE, Iran, Nigeria, South Africa, Brazil, Argentina, Chile
Segments covered: Application, Capacity, Technology and Region
Companies covered (47): Babcock and Wilcox Enterprises, Inc., Fulton Boiler Works, Inc., Hurst Boiler and Welding Co, Inc., AMEC Foster Wheeler Ltd., Forbes Marshall Private Limited, General Electric, Rentech Boiler Systems Inc., Miura America Co. Ltd., Hoval, Viessmann Limited, Fondital S.p.a, Groupe Atlantic, SIME, Bosch Thermotechnology, Victory Energy Operations, LLC, Walchandnagar Industries Limited (WIL), Ferroli S.p.A, Weil-McLain, Burnham Holdings, Inc, Columbia Boiler Company, Bradford White Corporation (BWC), PB Heat, Kyung Dong Navien, Parker Boiler Company, Slant/Fin Corporation, A.O. Smith Corporation, P.M. Lattner Manufacturing Company, Precision Boilers, LLC, BDR Thermea Group, HTP Comfort Solutions LLC., Immergas S.p.A, Wolf GmbH, Ariston Thermo Group, Baltur Spa, Energy Kinetics, ACV, Vaillant Group, Aerco International, Inc., Groupe Simoneau, Superior Boiler Works, Inc., Carrier Corporation, Rite Engineering & Manufacturing Corp, Grundfos, Daikin, Lennox, Weishaupt Sa, Raypak
Growth Drivers:
  • Residential
  • Regulations toward reducing carbon footprint
  • Increasing demand for space heating
  • Rapid urbanization and shift towards cleaner fuels
  • Commercial
  • Positive outlook toward healthcare sector
  • Rising need for space heating across commercial buildings
  • Growing demand for energy efficient boilers
  • Industrial
  • Positive outlook towards chemical and food processing industries
  • Rapid industrialization across developing economies
Pitfalls & Challenges:
  • High initial investment
  • Rising popularity of available alternatives

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Gas Fired Boiler Market, By Application

Europe Gas Fired Boiler Market By Application

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Commercial gas fired boiler market share is predicted to witness growth over 3% by 2024. Rapidly expanding population size and urbanization on a global scale coupled with focus toward cleaner fuel will augment the business landscape. The ongoing development and expansion of commercial centers along with measures to encourage the replacement of traditional boilers will further accelerate the deployment of gas fired boilers.

Industrial applications in 2017, accounted for over 15% of gas fired boiler market revenue share. Introduction of stringent emission norms to minimize the CO2 emissions has resulted in replacement of traditional units with energy efficient boilers which in turn will drive the product adoption. Furthermore, growing inclination of the government toward expansion of key economic sectors in conjunction with the participation of financial institutions will further complement the business outlook.


Gas Fired Boiler Market, By Capacity

<10 MMBtu/hr natural gas boiler market in 2017, was valued over USD 9 Billion. Sizeable investments toward expansion of commercial establishments along with surging demand from service industry comprising retail and hospitality will boost the product penetration in coming years. The boiler industry will further gain momentum on account of surge in availability of natural gas for domestic consumption and space heating.

100-250 MMBtu/hr capacity is anticipated to grow over 5% by 2024. Growing inclination toward the expansion of industrial sector and rising investments in the infrastructural development will thrust the product adoption. Shift toward adoption of energy efficient boilers and replacement of conventional steam generating systems will further drive the industry growth.

Gas Fired Boiler Market, By Technology

Condensing gas fired boiler market size is predicted to witness growth of over 4% by 2024. Ability of these boilers to offer low environmental pollution, reduced heating costs and high energy efficiency are some of the prominent features which will stimulate product adoption over available alternatives. Government measures toward energy conservation along with regulatory mandate toward minimal energy efficiency requirement will positively influence the industry growth.

Low cost and the ability to withstand wide temperature fluctuations are the key factors that will drive the non-condensing natural gas boiler market share. Furthermore, longer operating life, ability to achieve high operating temperature and low initial cost will further influence the product adoption.


Gas Fired Boiler Market, By Region

Middle East & Africa Gas Fired Boiler Market By Country

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North America gas fired boiler market in 2017, was valued over USD 4 billion. Resurgent economic growth coupled with ongoing investment toward upgradation of industrial facilities will stimulate the demand for gas fired boilers across the region. Changing consumer preferences toward processed food along with rising disposable income will stimulate the product demand across food processing sector. In addition, ongoing investment across the chemical sector will further complement the business landscape.

Germany gas fired boiler market is set to witness growth on account of stringent emission norms across the region. Enactment and effective implementation of government regulations toward industrial pollution has led to an upsurge in the replacement of tradition heating systems. Old boiler inventory along with growing efforts to maximize the energy utilization has further led to the demand for high efficiency gas fired boilers across the region.

Competitive Market Share

Key industry players operating comprises Babcock & Wilcox, Fulton Boiler Works, Hurst Boiler and Welding, AMEC Foster Wheeler, Forbes Marshall, General Electric, Rentech Boiler, Miura America, Hoval, Viessmann, Fondital, Groupe Atlantic, SIME, Bosch, Ferroli, Weil-McLain, Burnham Holdings, Bradford White Corporation, A.O. Smith, Parker Boiler, BDR Thermea Group, Carrier and Vaillant.

Prominent players across industry are focusing on various strategic assets including product innovation, inorganic growth ventures, research & development as part of their strategy initiatives.  Furthermore, in addition to retrofitting, companies are also focused for extended service portfolio to manage competitive edge over other industry participants.

Gas Fired Boiler Industry Background

Boiler is an enclosed vessel installed to generate steam for heating and humidification purpose. The fundamental concept of a boiler includes a heat source, and a heat transfer medium, usually heat exchanger which allows water to reach its boiling point. These units are primarily installed for steam & hot water generation across residential, commercial and industrial establishments.

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Premium Report Details

  • Published Date: Nov 2018
  • Pages: 830
  • Tables: 1172
  • Charts / Figures: 101
  • Companies covered: 47
  • Countries covered: 27

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