Combi Boiler Market Size, Share, and Analysis, By Fuel Type (Oil-fired, Natural Gas, and Others), By Technology (Condensing and Non-condensing), and Regional Forecast, 2026-2034

The global combi boiler market size was valued at USD 39.02 billion in 2025. The market is projected to grow from USD 42.06 billion in 2026 to USD 76.7 billion by 2034, exhibiting a CAGR of 7.8% during the forecast period.

A combi boiler refers to a combination boiler that is both a high-efficiency water heater and a central heating boiler in a single compact device. Combi boilers deliver heat to water directly from the main source when turning on a tap. This saves extra space and equipment, such as a hot water storage cylinder or a cold water storage tank in the roof space. Combination boilers are also energy-efficient and very cost-effective as water is heated rapidly rather than existence heated and then stored in a tank. It also helps to deliver hot water directly to the various pump connections without any additional storage systems.

The compact sizes of the combination boilers make them ideal for smaller properties. Moreover, the additional advantages of this boiling device drive them to several applications. For example, ideals are where there is no loft space, no cold water storage tank is required for conversion, there is no need for a hot water tank that allows increased space, and there is no risk of loft pipework freezing.

The rising construction of modern residential and commercial space is boosting the adoption of combi boilers. This is one of the devices which is being heavily used in modern houses, flats, and hotels to ease the process. Considering this, many manufacturing companies are developing and launching the combi boiler in the international market.

KEY INSIGHTS

The report includes the following key findings:

•             Recent Advancements in the Combi Boiler Market

•             Key Industry Trends

•             The Regulatory Landscape in the Combi Boiler Market

•             Impact of COVID-19 on the Combi Boiler Market

SEGMENTATION

ANALYSIS BY FUEL TYPE

The global combi boiler market is segmented by fuel type. This segment includes oil-fired, natural gas, and others. The natural gas segment acquired a maximum share in 2023 owing to increased operational safety, simple and low-cost installation, high energy savings, and simple gas removal are a few of the elements that will boost market demand in the coming years. Manufacturers are focusing on the developments in the products in recent years, which will lead the combi boiler market to rapid growth.

For Instance, in 2023, Navien Inc., a manufacturer of water heaters, combi-boilers, and wall-hung boilers, planned a virtual product launch. This occasion will mark the introduction of Navien's latest water heaters, boilers, and an entirely new product category, reiterating the company's pledge to pioneering technology and making comfortable living surroundings.

Oil-fired combination boilers are also one of the fastest segments in the global market. Driven by the extremely energy efficient factor they only heat water on demand rather than having a stored backlog. It is expected that oil-fired boilers are about to grow continuously due to their advantages.

ANALYSIS BY TECHNOLOGY

The global combi boiler market is also segmented based on technology. This includes Condensing and Non-condensing technologies along with the product. Condensing boilers are expected to dominate the market due to the working principle they apply. Condensing boilers are intended to improve heat before it is misplaced. The working principle of condensing boilers is based on abusing heat from flue gases to pre-heat chilled water at the inlet of the boiler. It is one of the points of attraction for many consumers.

Moreover, In an older boiler, you could perhaps suppose heat that leaves the flue to be over 200 degrees Celsius. With the latest condensing boiler, it's condensed significantly to around 55 degrees Celsius. This advantage market is ideal for the consumer rather than considering other alternatives.

Non-condensing boilers are larger and weightier than condensing boilers and are usually floor-standing. These boilers burn gas to heat water, which in turn heats space. Such a mechanism is old and dated; hence, it is not proliferating in the market.

REGIONAL ANALYSIS

The global combi boiler market is segmented into regions, such as North America, Europe, Latin America, Asia Pacific, the Middle East & Africa.

North America is expected to dominate the market share during the forecast period due to favorable technological advancements and industry support for product developments. Major manufacturing businesses are from the U.S., which is quite obvious and makes it a dominating country in North America. Europe is expected to become the fastest-growing region in the combi boiler market in the coming years, as the European heating industry is more active in the operation and manufacturing of HVAC products.

The market in Asia Pacific is expected to grow and accelerate the use of combi boilers during the forecast years due to increasing urbanization. Fast-growing commercial projects are boosting the demand for combination boilers. Latin America, Middle East, and Africa are not so active in the product development of boilers. This is due to the extreme climate conditions which restrict the growth of the hot water boilers in the market. Despite this, it is expected to drive market growth due to demand as it is one of the essential products for several commercial projects.

KEY PLAYERS COVERED

Key players in the global combi boiler market are Bosch Thermotechnik, Hoval Corp., Daikin Industries, Ltd., Haier Electronics Group Co., Ltd., Noritz Corporation, Rinnai Corp., BDR Thermea Group, A.O. Smith Corporation, Ferroli S.p.A., Vaillant Group, Viessmann, ELNUR, and Haier.

KEY INDUSTRY DEVELOPMENTS

• In August 2023,  The Worcester Bosch launched its first budget boiler for commercial consumers. The product comes with hydraulic connections that are in line and 35mm from the rear of the appliance a Fan that delivers 30kW of hot water.

In July 2023, Rheem, one of the leading global manufacturers of HVACR products (Heating, air conditioning, and refrigeration mechanics), announced the launch of Therma-Force, a platform of high-efficiency condensing gas water boilers and heaters for the residential market.