Used as water and space heating solutions, gas boilers offer excellent operational benefits. One, they reduce corrosion during shut down and two, there low maintenance and have ample observation ports. Moreover, they are so much simpler in terms of design and set-up than alternatives.
In the developing economies, industrial development is leading to increase in demand for these gas boilers. To add to this factor, increase in greenhouse gases and their harmful effects on the environment are also creating demand for gas boilers. As stringent regulations are noted worldwide, so are higher growth numbers for the market. It is pertinent to note here that these boilers are not just cleaner with better efficiency for fuel; they are the perfect solution to current woes posed by environmental woes.
Promising government initiatives and rising private investment in infrastructure of various industries is driving growth in countries such as India and China which are witnessing impactful development in the market landscape and growth in manufacturing and pharmaceutical industries.
Rise in industrial activity is a result of westernization and rapid urbanization in these countries and will create untapped growth opportunities for the market players in the Asia Pacific (APAC) region. Owing to environmental laws imposed by European Union (EU), Europe will also chart a growth trajectory in the global gas boilers market.
All this wil lead to a steady CAGR (Compound Annual Growth Rate) between 2019 and 2027, creating ample opportunities in the market landscape to keep the players hooked. Some of the most prominent market players in the already fragmented market landscape include Isjec Heavy Engineering Ltd., Forbes Marshall Pvt., Ltd, Alfa Laval AB, Bosch Industriekessel GmbH, Westinghouse Electric Corporation, Rite Engineering and Manufacturing Corporation, Sofinter S.p.a, and Velocity Boiler Works among others.
Gas Boilers Market: Introduction
Gas boilers (gas-fired boilers) are primarily used for heating the water to create the steam and process it. Gas boilers are fueled with natural gas or propane with simple modifications in the design. Gas boilers are employed in water- and space-heating solutions. They offer excellent operational benefits such as reduced corrosion during shutdown and easy maintenance led by adequate observation ports. Moreover, the setup of gas boilers is simpler than other types of boilers.
Increase in the demand for space- and water-heating solutions is driving the global gas boilers market. The industrial development, primarily in developing economies, backed by private and public investments has augmented the demand for boilers. This, in turn, is driving the gas boilers market. Moreover, stringent environmental regulations on greenhouse gas (GHG) emissions have augmented the demand for gas boilers, due to cleanliness and improved fuel efficiency offered by them. However, technical limitations in terms of working under low temperature of gas boilers and higher capital costs are likely to hinder the global market during the forecast period.
Global Gas Boilers Market: Segmentation
The global gas boilers market can be segmented based on type, capacity, application, and region. In terms of type, the market can be divided into condensing and non-condensing. Reduction in costs, such as heating costs, and increased fuel efficiency of condensing gas boilers are projected to drive the market during the forecast period.
Based on capacity, the global market can be categorized into <10 MMBtu/h, 10–50 MMBtu/h, 50–100 MMBtu/h, 100–250 MMBtu/h, and >250 MMBtu/h. The <10 MMBtu/h segment is anticipated to expand at a significant pace during the forecast period, owing to increasing popularity of these gas boilers among domestic users led by their efficient operation. Based on application, the global gas boilers market can be segregated into domestic and industrial. The industrial segment can be sub-segmented into power generation, hospitality, and others (including hospitals). Rising urbanization and growing trend of replacing of low-efficiency domestic boilers, primarily in developing economies, are driving the market for domestic gas boilers.
Global Gas Boilers Market: Regional Outlook
In terms of region, the global gas boilers market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Demand for gas boilers in developing economies, such as China and India, is estimated to rise during the forecast period, owing to ongoing developments, primarily in manufacturing and pharmaceutical industries in these countries. Promising government initiatives and rising private investments in the development of industrial infrastructure have resulted in rapid industrial growth. Moreover, rapid urbanization and improved lifestyle have resulted in increased demand for domestic gas boilers in these countries. Thus, the gas boilers market in Asia Pacific is projected to expand at a rapid pace during the forecast period.
Implementation of stringent environmental laws imposed by the European Union and the U.S. Government regarding greenhouse gas (GHG) emissions is expected to drive the gas boilers market in North America and Europe during the forecast period. The market in Middle East & Africa is projected to witness considerable growth, primarily in countries such as the UAE, Saudi Arabia, Egypt, and Nigeria, due to availability of natural gas resources in these countries.
Global Gas Boilers Market: Competition Landscape
Key players operating in the global gas boilers market are Babcock & Wilcox, Hurst Boiler & Welding Co, Inc., Forbes Marshall, AMEC Foster Wheeler, Rentech Boiler, Miura America, Fulton Boiler Works, SIME Hoval, Fondital, Viessmann, Groupe Atlantic, Bosch, Weil-McLain, Bradford White Corporation, Burnham Holdings, Inc., A.O. Smith, BDR Thermea Group, Parker Boiler, and Vaillant Group.
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