Gas Fired Boiler Market - Snapshot

Gas boilers and furnaces are fuelled by either propane or natural gas with little modifications that accounted for various features of the fuel. However, propane comes more costly as a fuel.

Gas fired boilers make a number of retrofits possible. However, before going ahead with any of the retrofits, one must consider the added benefits one could receive through replacement of the furnace. The below-mentioned are the retrofits that could be possible:

  • Intermittent Ignition Devices
  • Modulating Aquastats (For Hot Water Boilers Only)
  • Derating Gas Burners
  • Vent Dampers
  • Time Delay Relay (For Hot Water Boilers Only)

The gas fired boilers are going to witness a surge in demand in the next few years to come. Such increase in demand is due to the strict regulations in an effort to control the traditional boilers induced emissions. In addition to that, there has been a shift toward cleaner fuel, which is further accelerating the demand for gas fired boiler.

Increasing awareness with regards to the degradation of the  environment degradation is leading to an increased demand for these gas fired boilers. In addition to that, efforts of government to protect against the environment are further likely to contribute to the increased adoption of gas fired boilers. Besides, low cost of heating and high efficiency is likely to add to the popularity quotient of gas fired boilers.

Global Gas Fired Boiler Market: Overview

The gas fired boilers are going to see an increase in demand over the forecast period of 2019 to 2027, owing to stringent regulations to control traditional boilers induced emissions. Besides, worldwide there is a hustle to shift to cleaner fuels.

And, owing to these factors, the global gas fired boiler market is set to grow a robust CAGR (Compound Annual Growth Rate). That would mean a lot many opportunities of growth for market players and a considerable increase in market worth.

Global Gas Fired Boiler Market: Competitive Landscape

The global gas fired boiler market is marked with some significant developments that are set to shape the growth trajectory over the forecast period. It is also contributing to shaping up the competitive landscape.

As of now, the global gas fired boiler market is fragmented. Prominent players in the market landscape include Babcock & Wilcox, Fulton Boiler Works, Hurst Boiler and Welding, AMEC Foster Wheeler, Forbes Marshall, General Electric, Rentech Boiler, and Miura America, among others. To maintain an edge over competitors, players focus on product innovation and inorganic growth ventures. Also, research & development is a critical component of overall strategy.

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Global Gas Fired Boiler Market: Key Trends and Drivers

The global military truck market is set to witness growth owing to factors that are paving the way for future. Some of these are outlined below. To provide a comprehensive understanding, a market report is ready to be launched soon.

  • Worldwide, work days are getting longer, and more stressful. This, in turn, is leading people to opt for processed food as no one has the time or strength to prepare elaborate meals to work or after the day ends. Besides, a shift towards nuclear families, even in regions that had traditionally the set-up of a joint family. To add to it, the fact that in even in these nuclear families, both adults are usually working – dual income families. And, thus demand for processed food is set to shoot through the roof through the forecast period. And, this will lead to increase in demand for industrial gas fired boilers.
  • Increasing awareness about environment degradation is leading to an increased demand for these gas fired boilers. Besides, government’s efforts at protecting the environment will further contribute to growth in this market. To add to it, the high energy efficiency and low heating costs are adding to their popularity quotient. Moreover, they emit low levels of carbon emissions, which is a major crowd pleaser in this day and age.
  • Development of commercial establishments with increasing demand for heating will also lead to higher penetration of the market, especially in the urban centres. Besides, governments’ efforts to create smart cities, will only propel the market further ahead, taking the global gas fired boiler market on to higher growth trajectory.

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Global Gas Fired Boiler Market: Geographical Analysis

Asia Pacific will present the players with lucrative growth opportunities that can be attributed to growing service sector. Besides, the outlook toward manufacturing industry in countries including China and India is quite positive. To propel the market further, is increasing levels of urbanization. Then there is also an urgency observed in replacing traditional low-efficiency residential boilers across the economies in the region. All this together will further drive the demand for residential gas fired boilers in the region.

Other regions that will have players’ eye set on are North America and Europe that have the presence of a large number of market players.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Gas Fired Boiler Market

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