Global Combi Boiler Market to Record 11 Million Annual Installations By 2026

June 01, 2020

According to the research report titled ‘Combi Boiler Market Size By Fuel Type, By Technology, Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global combi boiler market is expected to register an annual installation of over 11 million units by the year 2026.

Growing demand for power-saving and cost-efficient heating systems is a major factor driving the combi boiler market growth. Rising environmental concerns and shifting focus towards reducing carbon footprint have compelled governments across the globe to introduce strict regulations to limit the primary energy consumption across residential areas, which in turn is augmenting the market size. Also, compact size, high energy efficiency, low maintenance and minimal installation cost associated with combi boilers are fostering the product demand.

As per fuel type, natural gas fired combi boiler market segment is projected to expand substantially during the forecast period. Decreasing product cost and consumer preference for sustainable heating solutions are contributing towards the popularity of gas fired combi boilers across the globe. Moreover, factors such as easy storage and competitive fuel prices are also favoring the market outlook. Strict regulatory scenario pertaining to emission mitigation across the residential sector along with increasing investments towards development of green infrastructure is further boosting the penetration of gas fired combi boilers.

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In terms of technology, condensing combi boilers segment is expected to register significant growth during 2020-2026. These boilers can be installed easily, have compact size and offer high operation efficiency. Condensing combi boilers use the heat generated from flue gases which then helps the system acquire exceptional operational efficiency. Surging investments towards modernizing existing residential infrastructure owing to swift urbanization is aiding the segmental growth.

Considering the geographical landscape, combi boiler market share in Asia-Pacific is expected to showcase a y-o-y growth rate of 6% between 2020 and 2026, primarily due to flourishing construction sector. Improving economic conditions, rapid industrialization and urbanization as well as growing population are facilitating the business scenario in Asia-Pacific. According to the UN (United Nations), around 65% of Chinese population is estimated to reside in urban areas by the year 2025. Focus towards enhancing natural gas supply networks in order to meet the growing energy demand is augmenting the regional demand for combi boilers.

The prominent companies operating in global combi boiler industry are Thermodyne Engineering Systems, Group Atlantic, Ariston Thermo Group, Kyung Dong Navien, FONDERIE SIME P, ACV, Vaillant Group, A.O. Smith Corp., Ferroli S.p.A., Wolf GmbH, Fondital S.p.A., Viessmann, HTP, Hoval, Daikin, BDR Thermea Group and Bosch Technology among others.

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