Press release
What's Driving the Residential Boiler Market Trends? Parker Boiler, Bosch, A.O. Smith, Bradford White Corporation, Viessmann
Residential Boiler Market
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The size of Residential Boiler Market was registered at 9 Billion (USD) in the year 2016 and annual unit installation is set to reach over 10 million units by 2024.Growing demand for energy efficient space heating system along with increasing investment towards infrastructure sector will propel the residential boiler market share. In 2016, China invested USD 1 trillion towards construction of residential building. Favorable government measures toward adoption of renewable technologies along with ambitious plan towards zero emission building will further complement the business growth.
South Korea is predicted to reach over 500 thousand units by 2024. Stringent government regulation to curb carbon emissions along with increasing focus towards adoption of energy efficient buildings will foster the residential boiler market size. In 2016, Government of South Korea set target to reduced GHG emission by 37% below business-as-usual emissions of 850.6 MtCO2 by 2030.
Leading Key Players in Residential Boiler Market are:
Parker Boiler, Bosch, Slant/Fin Corporation, Weil-McLain, Burnham Holdings, Inc., A.O. Smith, AC Boilers S.p.A., Siemens AG, Saudi Boilers, HTP, Lennox International Inc, Viessmann Manufacturing Company Inc, ACV, Buderus, ECR International, NTI Boilers, PB Heat, LLC, NAVIEN Inc, Bradford White Corporation (BWC), Baxi
Favorable government measures to reduce consumption of fossil fuel along with growing efforts to improve natural gas accessibility will positively impact the gas fueled residential boiler market size. In 2016, National Energy Agency and National Development Reform Commission in China announced its 13th five-year development plan. The plan aims at reducing energy consumption from coal to 58% of national energy consumption by 2020.
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Growth drivers
o North America & Europe
o Regulations toward reducing carbon footprint
o Growing demand for energy efficient heating system
o Increasing demand for space heating
o Asia-Pacific and Middle-East & Africa
o Rapid urbanization
o Shifting trends toward low emission natural gas
o Latin America
o Political stability
o Increasing demand for space heating
Introduction of government incentives to encourage adoption of energy efficient heating system will embellish the U.S. residential boiler market. Growing demand for energy efficient and reliable space heating system along with measures toward energy conservation will further foster the business landscape. The U.S. residential sector in 2014, accounted for over 18% of total carbon dioxide emissions.
Increasing focus towards adoption of energy efficient systems along with economic revival post 2008 recession will propel the condensing residential boiler market share. Growing investments toward green building will further complement the industry growth.
Low maintenance cost requirement, environment friendly nature and competitive pricing will propel the natural gas residential boiler market size. Replacement and retrofitting of existing heating units along with growing demand for central heating system will fuel the oil-fired boiler penetration.
Table Of Content
Chapter 1. Methodology and Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Market definition & forecast parameters
1.2. Data sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. Residential boiler industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Technology trends
2.1.3. Product trends
2.1.4. Fuel trends
2.1.5. Regional trends
Read More About Residential Boiler Market : https://www.globenewswire.com/news-release/2017/08/28/1100924/0/en/Residential-Boiler-Market-worth-over-12-billion-by-2024-Global-Market-Insights-Inc.html
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