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Oct 26, 2024

Condensing Gas Boiler Market to grow by USD 4.69 Billion from 2024-2028, driven by a focus on energy efficiency and AI-powered market evolution - Technavio | News | cnhinews.com

NEW YORK, Oct. 25, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The Global Condensing Gas Boiler Market size is estimated to grow by USD 4.69 billion from 2024-2028,

NEW YORK, Oct. 25, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The Global Condensing Gas Boiler Market size is estimated to grow by USD 4.69 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.76% during the forecast period. Increasing focus on energy efficiency is driving market growth, with a trend towards innovations in condensing gas boiler design. However, high initial cost of manufacturing condensing gas boilers poses a challenge.Key market players include A. O. Smith Corp., Ariston Holding NV, BDR Thermea Group, Daikin Industries Ltd., Ferroli Spa, Hoval Group, IBC Technologies Inc, Ideal Heating Ltd., Immergas S.p.A, MHG Heating Ltd., Navien Inc., Rinnai America Corp., Robert Bosch GmbH, Sime Ltd., STIEBEL ELTRON GmbH and Co. KG, Thermona spol s.r.o., Vaillant Group, Viessmann Climate Solutions SE, Watts Water Technologies Inc., and Weishaupt Corp..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 - 2022

Segment Covered

Product Type (Wall hung condensing gas boilers and Floor standing condensing gas boilers), End-user (Residential, Commercial, and Industrial), and Geography (APAC, North America, Europe, Middle East and Africa, and South America)

Region Covered

APAC, North America, Europe, Middle East and Africa, and South America

Key companies profiled

A. O. Smith Corp., Ariston Holding NV, BDR Thermea Group, Daikin Industries Ltd., Ferroli Spa, Hoval Group, IBC Technologies Inc, Ideal Heating Ltd., Immergas S.p.A, MHG Heating Ltd., Navien Inc., Rinnai America Corp., Robert Bosch GmbH, Sime Ltd., STIEBEL ELTRON GmbH and Co. KG, Thermona spol s.r.o., Vaillant Group, Viessmann Climate Solutions SE, Watts Water Technologies Inc., and Weishaupt Corp.

Key Market Trends Fueling Growth

The condensing gas boiler market is experiencing significant growth due to advancements in boiler design. Modern condensing boilers utilize efficient heat exchanger technologies, maximizing heat recovery from exhaust gases. Innovations like larger, more efficient heat exchangers and modulating burners increase overall efficiency, often surpassing 90%. Manufacturers, such as Navien Inc. And Immergas S.p.A, offer compact, space-saving models with high turndown ratios, reducing energy waste and excessive cycling. These designs cater to various consumer needs, contributing to the expansion of the global condensing gas boiler market.

The Gas Condensing Boiler market is experiencing significant growth due to increasing demand for hot water and space heating, particularly in the residential and commercial sectors. Fossil fuel-based traditional boilers are being replaced by more efficient Gas Condensing Boilers, which recover heat from flue gases and reduce Greenhouse Gas (GHG) emissions. Regulations and environmental standards are driving this trend, with a focus on reducing carbon emissions and improving energy efficiency. Bosch Heating and other leading manufacturers offer various types of Gas Condensing Boilers, including Combi and System Boilers. The adoption of digital controls and technology is also increasing, making these boilers more convenient and cost-effective. Installation costs may be higher initially, but long-term savings and GHG reduction make it a worthwhile investment. The market for Central Boilers, including those used in industries like chemical refining and petrochemicals, is also expanding as demand for energy-efficient heating systems grows. The shift towards zero-emission buildings is further boosting the market. Natural gas, a low-emission fuel, is expected to dominate the market, but the potential use of hydrogen fuel is also being explored. Overall, the Gas Condensing Boiler market is a key player in meeting heating demand and reducing GHG emissions in a sustainable way.

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Market Challenges

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Segment Overview

This condensing gas boiler market report extensively covers market segmentation by

1.1 Wall hung condensing gas boilers- Wall hung condensing gas boilers are popular solutions for homes with limited utility space. Their compact design allows for installation in tight areas, such as kitchens and utility rooms. These boilers are favored by users due to their easy and swift installation process. Wall hung condensing gas boilers are increasingly preferred in new residential constructions because of their convenience. The global market for condensing gas boilers is expanding due to urbanization and the construction of new houses worldwide. Market vendors provide wall hung condensing gas boilers with innovative designs and high performance. For instance, Daikin Industries Ltd.'s wall hung condensing gas boilers feature advanced condensing technology for efficient and dependable heating. These boilers offer user-friendly designs and can be installed in various rooms, including kitchens and bathrooms. These factors are expected to fuel the growth of the wall hung condensing gas boilers segment in the global condensing gas boiler market.

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Research Analysis

The global condensing gas boiler market is driven by the increasing demand for hot water and space heating, particularly in the residential and commercial sectors. Traditional fossil fuel boilers are being replaced with energy-efficient gas condensing boilers due to their higher efficiency levels and lower greenhouse gas emissions. These boilers use heat recovery technology to extract heat from flue gases, making them more environmentally friendly. The market is witnessing rapid technology adoption, with digital controls and advanced features becoming increasingly popular. Regulations and environmental standards are also driving the market, as governments push for the use of low-emission fuels and energy-efficient heating systems. The commercial sector is expected to see significant growth, as businesses seek to reduce their carbon footprint and save on energy costs. The central boiler market, including combi and system boilers, is expected to continue dominating the market. Natural gas is the primary fuel source, but other low-emission fuels are also gaining traction. Maintenance and repair services are an essential aspect of the market, ensuring the longevity and optimal performance of these boilers. The market is expected to grow steadily, driven by increasing space heating demand and the ongoing shift towards more sustainable and efficient heating solutions.

Market Research Overview

The Condensing Gas Boiler market is a significant segment of the heating industry, focusing on hot water and space heating solutions using fossil fuel. Gas condensing boilers are more efficient than traditional boilers due to heat recovery technology, which reduces GHG emissions by reusing the heat from flue gases. This technology adoption is driven by environmental regulations, population growth, and increasing heating demand. The market includes various types like Combi and System boilers. Efficiency and maintenance are crucial factors, with digital controls and smart home concepts enhancing user experience. The market caters to both residential and commercial sectors, with Bosch Heating, Burnham Commercial Boilers, and Laars Heating Systems being notable players. The market is expanding with the adoption of low-emission fuels, greenhouse gas reduction targets, and the development of zero-emission buildings. The market also includes various fuel types such as natural gas, hydrogen fuel, and others. Inorganic development strategies like acquisitions and partnerships are common. The market also serves the water heating, industrial systems, petrochemical, and chemical refining sectors. Emissions control technologies are essential for reducing carbon emissions and improving energy efficiency. The market faces challenges like installation cost and consumer demand, but the potential for growth is significant. The future of the condensing gas boiler market lies in the integration of renewable energy sources and the transition towards more sustainable heating solutions.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: [email protected]

Website: www.technavio.com/

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SOURCE Technavio

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