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Combi Boiler Market - By Fuel (Natural Gas, Oil), By Technology (Condensing, Non-Condensing) & Forecast, 2024-2032


Published on: 2024-07-02 | No of Pages : 240 | Industry : Energy-and-Power

Publisher : MIR | Format : PDF&Excel

Combi Boiler Market - By Fuel (Natural Gas, Oil), By Technology (Condensing, Non-Condensing) & Forecast, 2024-2032

Combi Boiler Market Size

Combi Boiler Market size valued at USD 26.1 billion in 2023 and is projected to expand at a CAGR of around 5.3% from 2024 to 2032.
 

Simple design, compact size, high energy savings, increased efficiency, and reliable operation across various applications in line with ongoing investments toward the installation of space heating technologies will boost the industry demand. Additionally, continuous deployments of low emission units to cater to rising environmental concerns and strict government norms will sway the market trend. The global market for boilers is likely to cross USD 180 billion by 2032.
 

Combi Boiler Market Overview

The combi boiler market growth is further attributed to the rising concerns toward carbon emissions along with increasing penetration of integrated space & water heating solutions. Continuous technological advancements for the development of modern facilities coupled with the ongoing replacement of conventional units with cost-effective solutions will foster the industry dynamics. Moreover, rapid urbanization across emerging economies in line with shifting trends sustainable solutions will spur the market expansion. Global gas fired boiler industry is poised to surpass USD 105.9 billion by 2032.
 

The global economy has been significantly impacted by an unanticipated outbreak of the novel coronavirus, giving rise to the COVID- 19 pandemic. Limited manufacturing, slow economic rebounds across various industries, and potentially less demand for water heating technologies has hampered the product adoption. However, respective government measures to restart the operations across major industries, manufacturing facilities and infrastructural developments will complement the market growth.
 

Combi Boiler Market Analysis

Combi Boiler Market Size, By Fuel, 2022 - 2032 (USD Billion)

The natural gas segment in the combi boiler market is estimated to attain 5.1% growth rate till 2030. High energy savings, operational safety, and easy & low-cost installation along with easy gas extraction are some of the factors that will stimulate the market demand. In addition, stringent norms and policies to reduce GHG footprint in line with declining prices of natural gas will drive the business scenario. The European Commission has set various targets for carbon neutrality by 2050 and a 55% reduction goal by 2030.
 

The condensing technology held 80% of the market share in 2021, credited to the increasing usage of reliable & efficient heating technologies. High operational efficiency, low energy cost, reduced environmental pollution, and enhanced energy recovery are some of the parameters that will positively influence the product demand. The ongoing introduction of modern & advanced heating units will accelerate the business growth.
 

Combi Boiler Market Share, By Technology, 2023 (USD Million)

Europe combi boiler market is expected to register significant growth during the forecast timeframe, owing to robust government investments toward the adoption of energy-efficient heating systems along with continuous development in modern facilities. A rising shift toward the adoption of IoT-based technologies for hot water supply along with increasing efforts to reduce energy consumption will impel the business trend. In addition, stringent government norms & regulations to replace conventional heating systems with smart units will encourage the industry outlook.
 

The UK combi boiler industry is anticipated to rise at a CAGR of 5.2% through 2030. Increasing disposable incomes coupled with consumer focus toward the adoption of efficient facilities will boost the industry expansion. Moreover, rising focus toward the installation of integrated heating & hot water supply systems along with favorable incentives & funds to promote green infrastructure will augment the market landscape. The market size boiler in the U.S. is poised to surpass USD 5.7 billion by 2032.
 

Europe Combi Boiler Market Size, 2022 - 2032 (USD Billion)

 

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

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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

 

Authors Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ)

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.

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.

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.

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.

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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