China to emerge as a major revenue pocket for Gas fired boiler market- 2024| Key Company Profiled Ferroli S.p.A., Viessmann, Groupe Atlantic, Fondital S.p.a, Ariston Thermo Group, Forbes Marshall, Hoval

Gas fired boiler market is set to witness robust growth on account of growing adoption of energy efficient space and water heating solutions along with ongoing regulatory measures toward the mitigating the greenhouse gas (GHG) emissions. For instance, the EU has set a target to reduce its GHG emissions by a minimum of 40% from 1990 levels by 2030. Ongoing investments toward infrastructure development coupled with favorable government initiatives and policies across developing economies will further boost the industry growth.

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China to witness lucrative investment trends:

The demand for gas-fired boilers jumped significantly in China, after the regional governments war on air pollution & climate change accelerated the initiatives to eliminate coal-fired boilers at industries and fuel stoves in households and replace them with cleaner and natural gas-fired units. The regulatory officials have however reported that the government will be first ensuring enough natural gas storage before impelling residents and industries for eliminating coal or fossil fuel-based boilers. This proliferating use of energy alternatives for reducing the carbon footprint have created favorable investment trends for potential gas fired boilers industry players.

Such a positive outlook toward the regional industrial as well as commercial & residential in emerging economies such as China and India will be further augmenting Asia Pacific gas-fired boilers industry share. With demand for the boilers further witnessing a spike in both developing and developed economies, it wouldn’t be wrong to quote that the business landscape of gas-fired boiler market will be traversing along a profitable growth graph. The expansive application spectrum and rising need for cleaner and energy efficient boiler systems is further likely to take the commercialization matrix of gas-fired boilers up by several notches in the following years to come.

Shifting trends toward processed food consumption and resurgent economic growth across key economies across the globe will propel industrial gas fired boiler market growth. According to United Nations Industrial Development Organization (UNIDO), chemical industries added over USD 400 billion worth of manufacturing value added in 2016. Favorable government initiatives toward the development and expansion of industrial & commercial infrastructures will further complement the industry landscape.

Gas fired boiler market is predicted to witness growth of over 4% by 2024. Ability of these boilers to offer low environmental pollution, reduced heating costs and high energy efficiency are some of the prominent features which will stimulate product adoption over available alternatives. Government measures toward energy conservation along with regulatory mandate toward minimal energy efficiency requirement will positively influence the industry growth.

North America gas fired boiler market in 2017, was valued over USD 4 billion. Resurgent economic growth coupled with ongoing investment toward upgradation of industrial facilities will stimulate the demand for gas fired boilers across the region. Changing consumer preferences toward processed food along with rising disposable income will stimulate the product demand across food processing sector. In addition, ongoing investment across the chemical sector will further complement the business landscape.

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Such a positive outlook toward the regional industrial as well as commercial & residential in emerging economies such as China and India will be further augmenting Asia Pacific gas-fired boilers industry share. With demand for the boilers further witnessing a spike in both developing and developed economies, it wouldn’t be wrong to quote that the business landscape of gas-fired boiler market will be traversing along a profitable growth graph. The expansive application spectrum and rising need for cleaner and energy efficient boiler systems is further likely to take the commercialization matrix of gas-fired boilers up by several notches in the following years to come.

Prominent industry participants across the gas fired boiler market include

• Forbes Marshall
• Hoval
• Viessmann
• Fondital S.p.a
• Groupe Atlantic
• O. Smith Corporation
• Ariston Thermo Group
• Lennox International
• BDR Thermea Group
• Ferroli S.p.A.

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This release was published on openPR.