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Global Residential Boiler Market Key industry participants include Slant/Fin, Bosch, AC Boilers, HTP, Lennox, Viessmann, ACV, Buderus, ECR, NTI Boilers, PB Heat, Navien, Bradford White and Baxi

02-12-2019 11:44 AM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

Global Residential Boiler Market Key industry participants

Global residential boiler market size will exceed USD 12 billion by 2024, as reported in the latest study by Global Market Insights, Inc.

Introduction of standards and codes toward adoption of efficient heating technologies will fuel the residential boiler market share. In the U.S., Energy Policy and Conservation Act prescribes efficiency standards for residential boilers. As per these standards all oil-fired residential boilers manufactured from 1st September 2012 to 15th January 2021 must have minimum Annual Fuel Utilization Efficiency (AFUE) of 84%.

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Rising demand for efficient space heating systems coupled with growing infrastructural investment towards residential sector will stimulate the global residential boiler market size. Government efforts towards sustainable development has resulted in increased spending towards new construction and upgradation of existing establishments. In the year 2015, renovation, maintenance and repair of existing buildings accounted for 60% of residential spending across Europe.

Report Content

Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Residential Boiler Market Industry Insights
Chapter 4. Residential Boiler Market, By Technology
Chapter 5. Residential Boiler Market, By Product
Chapter 6. Residential Boiler Market, By Fuel
Chapter 7. Residential Boiler Market, By Region
Chapter 8. Company Profiles

South Korea residential boiler market is set to exceed 500 ‘000 units by 2024. Government efforts to reduce carbon footprint coupled with growing focus toward adoption of green buildings will boost the product demand. In 2009, the Government of South Korea introduced National Strategy for Green Growth for the period of 2009 to 2050. Its strategic goals include quality of life enhancement, contribution towards climate change initiatives and promotion of eco-friendly growth engines.

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Economic revival post 2008 recession coupled with rising focus towards improving energy efficiency will embellish the condensing residential boiler market share. The technology offers improved efficiency by utilizing heat from exhaust gases. Ongoing investments toward zero emission building across developed economies will further stimulate the product penetration.

Efforts towards improving natural gas accessibility and government measures to discourage coal consumption will propel the demand for gas fired residential boiler market. In December 2016, China introduced 13th Five Yea Energy Development Plan with an aim to reduce country’s coal consumption to 58% of total energy consumption by 2020. Natural gas low emission properties when compared to conventional fuel will make its adoption preferable over the forecast timeline. Easy storage coupled with competitive pricing will further complement the business landscape.

Italy residential boiler market in 2016 was valued over USD 600 million. Enforcement of building regulations coupled with government norms toward reducing emissions will boost the demand for efficient heating units. Country’s Nationally Determined Contribution (NDC) under COP21 includes 40% reduction in greenhouse gas emission by 2030 from 1990 levels. In 2014, residential sector accounted for 18.1 % of total CO2 emissions in the country.

Browse key industry insights spread across 250 pages with 496 market data tables & 10 figures & charts from the report @ https://www.gminsights.com/industry-analysis/residential-boiler-market

U.S. residential boiler market will witness strong growth owing to favorable government incentives toward adoption of energy efficient heating system. Increasing demand for reliable and efficient space heating along with ongoing measures toward energy conservation will further propel the industry growth.

Notable industry participants in residential boiler market include Bosch, Slant/Fin, HTP, AC Boilers, Viessmann, Lennox, Buderus, ACV, NTI Boilers, ECR, Navien, PB Heat, Baxi, Bradford White, Weil-McLain, Parker Boiler, A.O. Smith, Burnham Holdings, Siemens and Saudi Boilers.

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research

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