Combi Boiler Market size to exceed $30bn by 2026
Published Date: January 20, 2020 Authors: Ankit Gupta, Nikhil Paranjape
Combi Boiler Market size is expected to exceed USD 30 Billion by 2026, as reported in the latest study by Global Market Insights, Inc.
The market size of combi boiler is anticipated to witness strong growth on the backdrop of growing demand for efficient space & water heating systems. High operational efficiency, cost effectiveness and compact design are some of the key factors favoring the market growth. Moreover, government measures toward zero carbon emission buildings coupled with ongoing efforts toward the replacement of traditional heating systems is further driving the market growth. Growing consumer awareness toward IoT enabled heating technologies will further stimulate the market demand of these units on a global scale.
Government support to promote the energy efficient heating systems will propel the gas-fired combi boiler industry growth
Ongoing construction activities along with supportive government policies to install the energy efficient heating systems across the residential establishments will boost the gas fired combi boiler market share. Cost competitiveness, compact size, easy installation and low maintenance costs is further elevating the adoption of gas-fired units, which in turn will stimulate the industry growth. In addition, the technology can significantly reduce the greenhouse gas emissions across residential buildings which will create new market opportunities for the industry players globally.
In North America and Europe, the respective regulatory bodies are taking imperative measures to reduce the overall carbon emissions favoring the adoption of cleaner fuels. This in turn has increased the demand for natural gas based combi boilers across these regions. Furthermore, introduction of various standards to limit the greenhouse gases emissions will support the usage of energy efficient heating systems over conventional boilers resulting in enhanced market demand for gas fired combi boilers.
Browse key industry insights spread across 350 pages with 748 market data tables & 29 figures & charts from the report, “Combi Boiler Market Size By Fuel Type (Natural Gas, Oil, Others), By Technology (Condensing, Non-Condensing), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Lower initial cost will enhance the non-condensing combi boiler market outlook
The non-condensing segment of the market is set to witness significant growth on account of lower installation costs and high operational efficiency. The modern combi boilers have a heat exchanger chamber enabling the passage of flue gases to heat the water before reaching the exit flue. In addition, manufacturers are also focusing on the development of smart technologies to make it more efficient and user-friendly, thereby driving the market share for non-condensing combi boiler.
The non-condensing combi boilers market segment holds considerable potential across Asia Pacific region on account of limited regulatory standards and increasing urban population across the region. In addition, the trend is toward replacement of existing heating systems with combi boilers, which will further enhance the market outlook of these products. China, Japan and South Korea are some of the major economies in the region with rising demand for combi boiler systems.
Strict government norms to curb the carbon emissions set to drive the Europe market demand
Europe combi boiler market statistics is set to witness growth over 3% by 2026. The combination boiler industry across the region has undergone a considerable turnaround with a positive outlook toward the incorporation of sustainable technologies. For instance, Ecodesign Directive 2009/125/EC sets obligatory environmental emission requirements for energy related products across EU member states with an aim to reduce the primary energy use. As a result, condensing combi boiler are the primary technology of choice across Europe for residential space and water heating application.
The UK market demand is witnessing a fast growth due to the rising demand for cost effective and energy efficient heating systems across the residential buildings. Favorable government initiatives to promote energy efficient heating systems coupled with ongoing efforts toward the refurbishment and upgradation of existing buildings & infrastructure will create new growth opportunities for the industry players in coming years.
Key market players operating across the global industry comprise of Hoval, HTP, Viessmann, BDR Thermea Group, Fondital S.p.a, Bosch Thermotechnology, Wolf GmbH, Ferroli S.p.A, Daikin, A.O. Smith Corporation, ACV, KyungDong Navien, FONDERIE SIME P, Vaillant Group, Ariston Thermo, Groupe Atlantic and Thermodyne Engineering System amongst others. Technological innovations and acquisitions are some of the significant strategies followed by market players to uphold a competitive edge over other industry participants.
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