Combi Boiler Market is thriving worldwide by 2025 | Top Key Players like Bosch Thermotechnology, A.O. Smith Corporation, and Daikin, HTP, Hoval, Viessmann
Condensing combi boilers utilize the heat from the flue gases via heat exchangers which helps the system achieve an excellent operational efficiency. Compared to non-integrated water and space heating systems, these systems provide much greater efficiency and help minimize operating costs. Ongoing investments towards the upgradation of existing residential infrastructure on account of rapid urbanization is anticipated to fuel the product demand over the projected period.
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As per the estimates global combi boiler market will witness an annual installation of more than 11 million units by 2026. According to the United Nations (UN), by the end of 2025, more than 65% of the Chinese population is projected to live in urban regions.
Moreover, the region is increasingly focusing on upgrading its existing natural gas supply networks. Robust investments towards the upgradation of natural gas supply chains to address the surging primary energy demand will certainly present lucrative opportunities for regional manufacturers and suppliers.
Bosch Thermotechnology, A.O. Smith Corporation, and Daikin are some of the major industry participants constituting global combi boiler market share. Industry participants are expected to make significant RandD efforts and investments to introduce more energy efficient heating systems, which will complement combi boiler industry outlook.
Global combi boiler market share is poised to record substantial gains over the next few years. This can be mainly attributed to growing consumer demand for cost-effective and energy-efficient heating systems. Driven by mounting environmental concerns and a strong focus on reducing the global carbon footprint, governments and other bodies have introduced stringent norms to minimize the primary energy consumption across residential spaces.
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This trend is anticipated to boost the adoption of combi boilers in the near future. The demand for the equipment is surging, particularly across the residential sector, on account of advantages such as lower installation and maintenance costs, high energy efficiency and compact size.
Based on technology, combi boiler industry share is segmented into condensing and non-condensing. Condensing combi boilers are expected to experience greater demand in the coming years. This can be linked with various advantages offered by the product such as higher operational efficiency, compact size, and easy installation. Besides, more and more consumers are opting for cost-effective and energy-efficient heating solutions, which will accelerate the product installation across homes.
Global combi boiler market can be segmented into natural gas, oil, and others based on the fuel use to power the equipment. Gas fired combi boilers will most likely witness increased adoption in the near future mainly due to harmonization of product prices. Moreover, consumers are increasingly switching to sustainable heating technologies which will further boost the demand for gas fired combi boilers.
The growing adoption of gas fired heating units can be also linked with competitive fuel prices and the ease of storage. Moreover, governments in most parts of the world are increasingly focusing on minimizing carbon emissions across the residential sector. This is likely to accelerate investments towards the development of green buildings and sustainable infrastructure, which will open up ample opportunities for combi boiler manufacturers across the globe.
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Asia Pacific combi boiler industry is projected to record a robust 6% CAGR during 2020-2026. The region holds a dominant share in the global construction sector. Strong economic growth in the region in recent decades along with growing urbanization and industrialization is expected to fuel construction and infrastructure development activities in the next few years. Driven by the increasing population, the rate of urbanization, particularly in countries like China, India, and Japan is estimated to escalate.
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