Combi Boiler Market size was USD 26.1 billion in 2023 and is expected to grow at a CAGR of approximately 5.3% during the forecast period of 2024 to 2032.
Simple design, small size, high energy efficiency, greater efficiency, and stable operation across diverse applications in alignment with steady investments towards the installation of space heating technologies will increase industry demand. Moreover, continuous installations of low emission units to meet growing environmental issues and stringent government regulations will influence the market trend. The world market for boilers is expected to surpass USD 180 billion by 2032.
To obtain important market trends
The growth of the combi boiler market is further driven by the intensifying concerns towards carbon emissions as well as deepening penetration of combined space & water heating solutions. Unabating technological progress towards the creation of contemporary facilities along with the relentless replacement of traditional units with affordable options will enhance the industry dynamics. Furthermore, the high rate of urbanization in emerging economies in accordance with evolving trends sustainable solutions will fuel the market growth. Global gas fired boiler market is expected to exceed USD 105.9 billion by 2032.
Global economy has been greatly affected by an unexpected pandemic breakout of the new coronavirus, which resulted in the COVID- 19 pandemic. Under-capacity production, lagging economic recoveries in different industries, and possibly reduced need for water heating technologies have adversely affected the product acceptance. Nevertheless, respective governments' steps toward reviving the operations in key industries, factories and infrastructural constructions will support the market growth.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Combi Boiler Market Size in 2023 | USD 26.1 Billion |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 5.3% |
| 2032 Value Projection | USD 40.8 Billion |
| Historical Data for | 2018 - 2023 |
| No. of Pages | 330 |
| Tables, Charts & Figures | 633 |
| Segments covered | Fuel, Technology |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth prospects in this market?
Combi Boiler Market Analysis
Discover more about the most important segments defining this market
Natural gas segment in combi boiler market is projected to achieve 5.1% growth rate until 2030. High energy savings, safe operation, and simple & inexpensive installation coupled with simple extraction of gas are some of the drivers that will drive the market demand. Furthermore, strict regulations and policies to minimize GHG imprint in accordance with the decreasing prices of natural gas will propel the business environment. The European Commission has established different goals for carbon neutrality by 2050 and a 55% reduction objective by 2030.
The condensing technology dominated the market by 80% in 2021 due to the rising use of efficient & dependable heating technologies. Low energy expenditure, high operation efficiency, low environmental pollution, and high energy recovery are some of the metrics that will drive the product demand positively. The continued launch of advanced & contemporary heating units will drive business growth faster.
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Discover more regarding the dominating segments of this market
Europe combi boiler market is anticipated to showcase considerable growth over the forecast period, due to strong government investments towards the implementation of energy-efficient heating systems as well as ongoing enhancement in contemporary facilities. An increased trend towards the implementation of IoT-based technologies for the supply of hot water as well as growing efforts for energy saving will drive the business trend. Furthermore, strict government standards & regulations to substitute traditional heaters with intelligent units will promote the industry scenario.
The UK combi boiler market is expected to grow at a CAGR of 5.2% by 2030. Growing disposable incomes along with consumer interest towards adopting efficient units will enhance the industry growth. Additionally, increasing emphasis towards the installation of combined heating & hot water supply systems coupled with supportive incentives & funds to enhance green infrastructure will boost the market scenario. The size of the U.S. boiler market is expected to exceed USD 5.7 billion by 2032.
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Combi Boiler Market Share
The leading players operating across the market include
- Bosch Thermotechnology
- BDR Thermea Group
- Daikin
- Bradford White Corporation
- HTP
- Viessmann
- WOLF
- Ferroli
- Weil-McLain
- A.O. Smith
- Valliant Group
- Fonderie Sime
- Navien
- Ariston Holding
- Thermodyne Boilers
- Rinnai America Corporation
These leaders are focusing on strategic mergers and partnerships to boost the growth of advanced heating units in line with an extensive focus on new product developments. Strategic collaborations and acquisitions among major industry participants will propel the market scenario.
This market research report on combi boiler includes in-depth coverage of the industry with estimates & forecast in terms of ‘Units’ & ‘USD’ from 2018 to 2030, for the following segments
Market, By Fuel
- Natural Gas
- Oil
- Others
Market, By Technology
- Condensing
- Non-Condensing
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Denmark
- Finland
- Norway
- Sweden
- UK
- Russia
- Romania
- Poland
- Austria
- Belgium
- France
- Germany
- Netherlands
- Switzerland
- Greece
- Italy
- Portugal
- Spain
- Asia Pacific
- China
- Japan
- South Korea
- Australia
- Middle East & Africa
- Saudi Arabia
- UAE
- Nigeria
- South Africa
- Latin America
- Brazil
- Argentina
- Mexico
Frequently Asked Questions (FAQ)
What is the value of global combi boiler market?
The market size of combi boiler had crossed USD 26.1 billion in 2023 and is poised to record a growth rate of 5.3% through 2024-2032 due to the rise in investments toward the installation of space heating technologies.
How big is the natural gas combi boiler industry?
The natural gas segment is slated to strike a CAGR of 5.1% through 2022-2030 owing to the surging need for high energy savings, operational safety, and easy & low-cost installation.
Why is the demand for condensing combi boilers growing?
Condensing combi boilers held more than 80% of the global industry share in 2021 and will expand with the rising adoption of reliable and efficient heating technologies.
What is the size of the combi boiler segment in Europe?
U.K. is projected to lead the Europe market and will observe a CAGR of 5.2% through 2022-2030 due to the rising disposable incomes and growing consumer focus toward the adoption of efficient facilities.
Who manufactures combi boilers?
A.O. Smith, Ariston Holding Thermodyne Boilers, Bradford White Corporation, Bosch Thermotechnology, Daikin, BDR Thermea Group, and Valliant Group are just some of the leading combi boiler makers worldwide.
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