Gas Fired Boiler Market Size
Gas Fired Boiler Market was valued at USD 53.1 billion in 2023 and is anticipated to register 7.9% CAGR from 2024 to 2032. Robust deployment of energy efficient space and water heating systems along with replacement of conventional heating units will further enhance the business landscape.
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Rising investments in global infrastructure development and rising demand for space heating across residential and commercial buildings will set natural gas fueled boiler market to see a significant momentum. The harsh climate conditions will drive increasing demand for hot water systems with intelligent heating technology, therefore quickening the industrial potential. Furthermore driving the acceptance of these boilers is the growing emphasis on energy efficiency and lowering carbon emissions in wealthy nations.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Gas Fired Boiler Market Size in 2023 | USD 53.1 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 7.9% |
| 2032 Value Projection | USD 105.9 Billion |
| Historical Data for | 2019 to 2023 |
| No. of Pages | 650 |
| Tables, Charts & Figures | 1,279 |
| Segments covered | Capacity, Technology, Application |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
COVID– 19 Impact
The COVID-19 has affected the gas fueled boiler business on a certain margin due to lockup and low demand worldwide. Due to shortages of staff and components, the manufacturers have limited activity. But persistent trend of work from home concepted as well as constant demand for fresh projects to respond to the crisis including healthcare building have driven industry growth.
Analysis of the Markets for Gas Fired Boilers
Find more about the main players influencing this market.
By 2022 the residential boiler industry is expected to be worth more than 35 billion. The company potential will be favorably changed by growing demand for energy-efficient heating systems and increasing focus on energy conservation. Legislation encouraging the acceptance of efficient boilers and replacement of current heating units will help to further increase the gas fueled boiler market growth possibilities.
Growing demand for green buildings and rising need for space heating in cold climatic areas will cause an explosion in the commercial boiler market. Hotels, offices, colleges, and hospitals all make great use of these boilers. Furthermore driving the corporate scene will be government investments in the establishment of new commercial hubs and the renovation of current structures.
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Find more about the main players influencing this market.
By 2022, the industry with condensing gas fueled boilers holds about 55% share. Introduction of government criteria aiming at reducing carbon emissions from commercial and industrial buildings will support the business scenario. Key advantages of the product include low environmental contamination and great efficiency, which will present major economic prospects.
By 2032 the < 10 MMBtu/hr gas powered boiler market is expected to increase at a rate of 7.9%. Rising consumer awareness of environmental impact leads to tougher environmental rules meant to encourage the use of reliable and efficient heating systems will help to change the direction of the sector.
The > 10 - 50 MMBtu/hr gas powered boiler industry will be promoted by increasing applicability across commercial and small size industrial facilities. The need for these systems would increase with the continuous industrial sector expansion in underdeveloped countries along with favorable attitude toward manufacturing facilities. The gas fired boiler market penetration will be driven by ongoing change towards energy-efficient technology and attractive government schemes and subsidies.
Searching for data unique to a region?
By 2032, the Europe boiler market is expected to top over USD 50 billion. Adoption of gas fueled boilers will be driven by the European Union's recovering economic development as well as the application of rules meant to lower emissions and conserve energy. Shifting trend nuclear family in line with continuous investment toward expansion of gas infrastructure would improve the industry picture.
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Driven by competitive gas pricing and the shale gas revolution, considerable increase in gas usage will boost the North America gas fueled boiler market. Legislative actions supporting the use of greener fuels and energy-saving policies will help to increase demand for these units even more. Rising demand for contemporary heat pumps combined with continuous technological development will change the market dynamics.
Gas Fired Boiler Market Share
The key market players include
- Babcock & Wilcox Enterprises
- The Fulton Companies
- Hurst Boiler & Welding
- Forbes Marshall
- Rentech Boilers
- Miura America
- Viessmann
- Groupe Atlantic
- Bosch Industriekessel
- FERROLI
- WM Technologies
- BURNHAM COMMERCIAL BOILERS
- Bradford White Corporation
- Slant/Fin Corporation
- A.O. Smith
- BDR Thermea Group
- Ariston Holding N.V
- Vaillant Group
- Carrier and Daikin.
Gas Fired Boiler Industry News
- VISSEMANN debuted their Vitodens boiler series in November 2022 with an output of 35 kW, With a modulation range of 110 for higher seasonal efficiency, the new addition offers a Domestic Hot Water (DHW) output between 2.9 kW and 35 kW and a heating output ranging from 3.2 to 32 kW. The new models are Wi-Fi equipped, hence the homeowner has complete heating control.
- Hurst Boiler & Welding introduced the EGO series tri-fuel boilers in January 2021. Using a burner and/or by electricity using a configuration of resistive electric elements, the EGO series may create power either by gas or oil. Furthermore incorporated in these boilers are smaller footprints with more water and steam volumes, tailored for high steam pressure and stack master economizer included to maximize efficiency and lower greenhouse gas emissions.
This gas fired boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD” from 2019 to 2032, for the following segments
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Market, By Capacity
- ≤ 10 MMBtu/hr
- > 10 - 50 MMBtu/hr
- > 50 - 100 MMBtu/hr
- > 100 - 250 MMBtu/hr
- > 250 MMBtu/hr
Market, By Technology
- Condensing
- Non-Condensing
Market, By Application
- Residential
- Commercial
- Offices
- Healthcare Facilities
- Educational Institutions
- Lodgings
- Retail Stores
- Others
- Industrial
- Food Processing
- Pulp & Paper
- Chemical
- Refinery
- Primary Metal
- Others
The above information has been provided for the following regions and country
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- UK
- Poland
- Italy
- Spain
- Austria
- Germany
- Sweden
- Russia
- Asia Pacific
- China
- India
- Philippines
- Japan
- South Korea
- Australia
- Indonesia
- Middle East & Africa
- Saudi Arabia
- Iran
- UAE
- Nigeria
- South Africa
- Latin America
- Argentina
- Chile
- Brazil
Frequently Asked Questions (FAQ)
How big is the gas fired boiler market?
The market valuation of the gas fired boiler was reached USD 53.1 billion in 2023 and is estimated to expand at 7.9% CAGR during 2024 to 2032, explains GMI report.
Which are the leading factors contributing to the demand for condensing gas-fired boiler?
Condensing gas-fired boiler industry share of over 55% in 2022 due to the introduction of government standards toward limiting carbon emissions from industrial & commercial premises.
Why are gas-fired boilers preferred in residential applications?
Residential gas-fired boiler sector crossed a valuation of USD 35 billion in 2022 owing to the increasing demand for energy-efficient heating systems and the rising emphasis on energy conservation.
What are the top brands in the gas-fired boiler industry?
Babcock & Wilcox Enterprises, The Fulton Companies, Forbes Marshall, Rentech Boilers, Miura America, Viessmann, Groupe Atlantic, WM Technologies, BURNHAM COMMERCIAL BOILERS, Bradford White Corporation, A.O. Smith, BDR Thermea Group, Ariston Holding N.V., and Vaillant Group.
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