Hydro Pellet Stove Market - Global Industry Size, Share, Growth, Trends and Forecast

A hydro pellet stove makes the entire housing system and the water from the bathrooms warm with the performance of a boiler in a more affordable and sustainable way.Hydro pellet stoves can be used to heat the entire housing water system, either in underfloor or radiators. A hydro system makes the house warm and at the same time feeds hot water system in the house.A hydro pellet stove can be fully integrated with existing thermal products such as traditional fan convectors, and radiators, and wall or floor-mounted radiant panels. Additionally, it can also be integrated with automation systems such as home domotics. The hydro pellet stove has an electronic control panel that is fitted on the stove. It makes programming and operation quick and intuitive. With the hydro pellet stoves, it is possible to heat the water and produce domestic hot water for home uses. Hydro pellet stove is combined with a suitable domestic hot water (DHW) kit to produce instant domestic hot water.

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Capability of hydro pellet stove to replace the traditional gas or oil fuelled boiler for the environmental protection and other benefits such as reduction in heating cost, among others are expected to boost the hydro pellet stove market.Using oil for heating can be expensive, due to fluctuating oil price on daily basis depending upon the global demand. Furthermore, using other forms of boilers can have a negative impact on the environment, as kerosene and fossil fuel are not green forms of energy and emit around 4-5 tons of carbon dioxide from households every year. However, hydro pellet stove helps in the saving on consumptionas well as cost while taking care of the environment. People are opting for hydro pellet stove across the world due to the rise in energy prices and pressure on businesses to cut down on their carbon emissions by governments.

Higher installation are expected to hamper the hydro pellet stove market. Unlike a gas furnace that can be substitutedcost-effectively and easily, hydro pellet stove systems require high maintenance of their multiple parts such as controls, pumps, and boilers, on a regular basis.

The hydro pellet stove market can be segmented based on power type, end-use industry, product type, and region. In terms of power type, the market can be segmented into less than 9kW, 9 kW to 12.5 kW, 12.5 KW to 20 KW, above 20 kW, and others. Based on end-use industry, the market can be segmented into chemical, food & beverage, manufacturing, and others. In terms of product type, the market can be classified into wall mounted, corner, passive homes, and others.

Based on geography, the hydro pellet stove market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The market in North America and Europe is expected to lead the global market. This due to the presence of prominent players and high adoption of hydro pellet stoves as an alternative to traditional gas boilers, which are expensive. However, the market in Asia Pacific is expected to expand at a significant pace due to the increase in government pressure to use environment-friendly sources of energy to combat the rise in pollution across emerging economies such as China, India, and Japan.

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Key players operating in the hydro pellet stove market are MCZ Group SPA, AICO S.p.A., KARMEK ONE SRL, Cola Stoves UK, Jide Technology Co., Ltd, italianstoves.com, GruppoPiazzetta Spa, DIECOTEC, Metalúrgica Manlleuense S.A, Zoppas Industries, and Smartheat.

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