Gas Condensing Boiler Market Size, Share & Industry Analysis, By Type (Combi Boiler, System Boiler/Conventional Boiler), By Application (Residential, Commercial, Industrial) and Regional Forecast, 2024-2032

The enormous demand for hot water and space heating from residential as well as industrial sectors increased the consumption of fossil fuel. Increasing conventional fuel consumption resulting in a rise in GHG emissions. Many countries introduced regulations to curb environmental pollution. The boilers must meet the standards defined by government authorities. A gas condensing boiler is preferred over traditional boiler due to its ability to recover heat from hot flue gases. The re-use of hot flue gases for heating water or space heating reduces the consumption of fuel and increase the efficiency of the boiler. Condensing boiler can reach up to 90% efficiency, whereas the conventional boiler can only reach 70-80% efficiency. Therefore, the growing awareness about the rising earth’s temperature and sea level projected to drive the industry to mitigate GHG emissions.

Gas condensing boiler market is bifurcated into type and application. The type segment is further divided into a combi boiler and system or conventional boiler. Combi boiler is projected to dominate the market as it does not require a separate tank for storage of water, which makes it compact and convenient to fit in the kitchen. A condensing boiler is used in the residential, commercial, and industrial sectors. Exponential population growth increased urbanization around the world that set to offer a profitable market in residential applications. 

Key Market Driver -

Adoption of highly efficient technology to reduce carbon footprints

Key Market Restraint -

Frequent scaling problem

The exponential demand for hot water and space heating owing to rapid growth in the urban and industrial sectors might drive the market. Also, the growing awareness about rising GHG emissions and the adoption of advanced & efficient technology is anticipated to propel industry growth.

The condensation process is acidic, which causes frequent scaling issues in the boiler system. Moreover, the condensing boiler requires regular maintenance, and installation cost is quite high, which limits the growth of the industry.

Key Players Covered:

The major gas condensing boiler companies in the world are Daikin, Navien, Inc., Viessmann U.S., Bosch Heating and Cooling, North America, ECR International, AERCO International, Inc., IBC Technologies Inc., Lochinvar, LLC, Thermona, spol. s.r.o., and  Enertech GmbH.

Regional Analysis:

The gas condensing boiler market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Heating accounts for approximately a third of total energy consumption in U.S. commercial buildings and residential apartments & complexes. The condensing boiler performs more efficiency than a conventional boiler by extracting more of the heat energy released in the combustion process. The growing requirement for heating in industrial processes and commercial building as well as the residential sector set to uplift the demand for gas condensing boiler in North America.

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The EU is committed to reducing greenhouse gas (GHG) emissions to 80-95% below 1990 levels by 2050. As per the EU directive 2012/27, it is mandatory to reach a 20% energy efficiency target by 2020. Hence, the gas condensing boiler is majorly used for heating in the residential and commercial sectors, which likely to boost the industry. The Asia Pacific is one of the prominent markets for the growth of the gas condensing market owing to rapid urbanization and exponential population growth in key countries. 

Segmentation

Key Industry Developments

• In April 2018, Daikin UK recently unveiled new gas condensing boiler with advanced technology & increased efficiency. The boiler is available as a combi or with a cylinder connection to meet all hot water demands. D2CND boiler designed to deliver A rating for heating and A+++ for hot water when combined with solar thermal products.


• In June 2017, Dunkirk launched DMG condensing boiler. The new boiler is available in two sizes, the DMG-240, and the DMG-380. Both boilers are designed to deliver high efficiency for larger homes as well as commercial applications including multiple unit dwellings, offices, churches, and schools, etc.