Europe Boiler Market is set to exceed an annual installation of 6 million units by 2024
Austria boiler market is set to exceed an annual installation of 95 thousand in 2016. Resurgent economic growth along with positive outlook towards construction sector will boost the product demand. As per the European Commission, in 2014 the country witnessed over 47 thousand new residential establishments representing growth of over 21% from 2011 level.
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Shifting trends toward adoption of sustainable technologies along with rising need for space heating owing to low average temperatures will augment the Europe Boiler Market. Major industry participants have introduced products with smart control systems to minimize the fuel loss and improve the system efficiency. Furthermore, stringent efficiency norms have instigated the adoption of high efficiency condensing boilers across the region.
In 2016, Germany accounted for over 13% of Europe boiler market share. Robust growth across construction sector coupled with initiatives to promote sustainable heating technologies will boost the product adoption. In 2016, the government of Germany introduced “National Action Plan on Energy Efficiency” with an aim to promote energy efficient technologies and raise consumer awareness pertaining to energy efficient products.
Europe commercial boiler market is set to witness gain of over 2.5% by 2024. Ongoing investments toward establishment of new commercial centers along with retrofitting of existing buildings will fuel the business growth. Efforts toward improvement of building energy efficiency coupled with EU mandate towards reduction of carbon foot print across the various sectors of economy will further enhance the industry outlook.
Spain boiler market is set to witness strong growth owing to resurgent economic growth post 2008 recession. Ongoing investments toward development of new commercial centers along with rising disposable income will fuel the business growth. The country in recent years has witness growing adoption of gas-based boilers on account of its improved efficiency and safety when compared to available alternative.
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High efficiency and compliance with the efficiency standards are some of the paramount factors which will drive the condensing boiler market. These systems offer improved efficiency when compared to traditional systems by tapping the heat from the flue gases. Competitive pricing with the heating system of similar efficiency has led to increased product penetration across the region.
Key industry participants in the Europe boiler market include Bosch, BDR Thermea, Lennox, Daikin, Bradford White, Viessmann, Weil-McLain, Wolf, Burnham, Siemens AG, Groupe Atlantic, A. O. Smith, KyungDong Navien, Ariston Thermo Group, Vaillant Group and NIBE.
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