Press release
Gas Fired Boiler Market Growth Analysis 2025 By Top Key Players - Miura America, Babcock & Wilcox, AMEC Foster Wheeler, Forbes Marshall, Ferroli, Fulton, Vaillant, Rentech Boiler, Fondital, Viessmann
Asia Pacific natural gas fired boiler market is set to witness growth on account of positive outlook toward manufacturing sector along with growing service sector. Rising focus toward replacement of conventional low-efficiency residential boilers along with rapid urbanization across various Asian economies will in turn fuel the demand for gas fired boilers for residential sector across the region.
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Rising focus toward substitution of traditional boilers on account of their growing maintenance costs and inferior operational performance will stimulate the gas fired boiler market share. Low maintenance costs, high energy efficiency along with easy availability of fuel are few of the prominent features which will further encourage the product adoption. As per the EIA, in 2016, over 7,700 bcf of natural gas was utilized by the industrial sector.
Gas Fired Boiler Market is predicted to exceed USD 20 Billion by 2024. Reviving economic growth across developing nations along with rising focus toward adoption of energy efficient water and space heating will stimulate the industry growth. Ongoing infrastructural investment along with regulatory measures to mitigate the GHG emissions will fuel the adoption of gas fired boilers. The EU has set key target to minimize greenhouse gas emissions by 40% as compared to 1990 levels.
Resurgent economic growth in key nations across the globe coupled with changing trends toward processed food consumption will drive industrial gas fired boiler market. As per the United Nations Industrial Development Organization, in 2016, the chemical industries added over USD 400 billion to total manufacturing value. Favorable government policies toward the expansion and development of commercial and industrial infrastructures will further complement the business landscape.
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