Asia Pacific Gas Fired Boiler Market Size - By Capacity, By Technology (Condensing, Non-Condensing), By Application (Residential, Commercial, Industrial), By Country Outlook & Forecast, 2024 – 2032

Asia Pacific Gas Fired Boiler Market Size

Asia Pacific Gas Fired Boiler Market was valued at USD 20.1 billion in 2023 and is estimated to grow at a CAGR of over 7.5% from 2024 to 2032. The widespread adoption of energy-efficient space and water heating solutions, along with the replacement of traditional heating systems, will further reinforce the industry landscape.
 

Gas-fired boilers are a type of heating system that burns natural gas or propane to produce heat for various applications including residential heating, industrial processes and steam generation. These boilers are known for their efficiency, reliability, and relatively low environmental impact compared to coal-fired systems. These units operate by igniting the gas in a combustion chamber, where the heat generated is transferred to water or steam that circulates through the system. The modern boilers are often equipped with advanced controls and safety features ensuring precise temperature regulation and efficient fuel use.
 

Asia Pacific Gas Fired Boiler Market Trends

The natural gas-fired boiler industry is poised for significant growth driven by rising investments in global infrastructure development and the growing need for space heating in residential and commercial buildings. Harsh climatic conditions are set to boost demand for hot water systems with advanced, intelligent heating technologies, further enhancing the industry potential. Additionally, the increasing emphasis on energy efficiency and carbon emission reduction in developed economies will propel the adoption of these boilers.
 

Asia Pacific Gas Fired Boiler Market Analysis

The ≤ 10 MMBtu/hr gas fired boiler market will exceed over USD 30 billion by 2032. Rising end user inclination toward environmental impacts coupled with the introduction of stricter environmental regulations will positively influence the industry growth by encouraging the use of more efficient and reliable heating systems. The surging shift toward energy-efficient heating technologies along with supportive government programs and funding will drive the increased adoption of these products.
 

The condensing gas fired boiler market size will witness growth rate of over 10% through 2032. The growing demand for energy-efficient heating systems and the heightened focus on energy conservation will enhance business potential. Additionally, the replacement of outdated heating units and legislation encouraging the use of efficient boilers will further strengthen the industry prospects.
 

The China gas fired boiler market is set to surpass USD 20 billion by 2032. Rising demand for space heating in colder climates and a robust development of green buildings are driving the use of these boilers across various sectors, including offices, hospitals, educational institutions, and hotels. Additionally, increased government investment in developing new commercial centers and upgrading existing buildings will further boost the business scenario. The continued expansion of the industrial sector in developing economies coupled with a favorable outlook for production facilities will drive increased demand for these systems.
 

Legislative measures supporting energy conservation and initiatives that promote the use of cleaner fuels will foster the Japan gas fired boiler market. Ongoing technological advancements in line with the growing need for modern heating systems will enhance the business landscape. The shift towards nuclear families, combined with ongoing investments in expanding gas infrastructure, will positively influence the product penetration.
 

Asia Pacific Gas Fired Boiler Market Share

Daikin Industries is one of the leading global manufacturers of HVAC systems including gas-fired boilers, renowned for its innovation and commitment to energy efficiency. The company offers a diverse range of boilers designed to provide reliable and efficient heating solutions for both residential and commercial applications. Its boilers are known for their advanced technology, which includes high-efficiency combustion systems and smart controls that optimize performance and reduce energy consumption. With a strong focus on sustainability, Daikin integrates eco-friendly features into its products to minimize environmental impact.
 

Asia Pacific Gas Fired Boiler Market Companies

The key industry players include:

• A.O. Smith
• Ariston Holding N.V.
• Babcock & Wilcox Enterprises
• Bradford White Corporation
• BURNHAM COMMERCIAL BOILERS
• Carrier
• Daikin Industries Ltd.
• FERROLI
• Forbes Marshall
• Fulton
• Groupe Atlantic
• Hurst Boiler & Welding Inc.
• Miura America Co.
• Robert Bosch
• Slant/Fin Corporation
• Thermax Limited
• Vaillant Group
• Viessmann
   

Asia Pacific Gas Fired Boiler Industry News

• In January 2024, Bradford White Corporation will launch a diverse array of high-efficiency and high-performance products from its subsidiary company at AHR Expo 2024. The company’s business division Laars Heating Systems will introduce its FT series commercial boiler, E-Therm heat pump water heater, NeoTherm XTR boiler, and FT Series wall hung boiler. Moreover, this prestigious event will highlight Bradford White’s commitment to innovation, quality, and efficiency in the HVAC industry.
   
• In January 2022, Hurst Boiler & Welding has introduced the EGO series tri-fuel boilers, which can generate power through gas, oil, or electricity. These versatile boilers feature a burner for gas and oil combustion, as well as resistive electric elements for electric power. They are designed with a compact footprint while offering larger water and steam capacities. The EGO series is built for high steam pressure and includes a stack master economizer to enhance efficiency and minimize greenhouse gas emissions.
   

This Asia Pacific gas fired boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD Million” from 2021 to 2032, for the following segments:

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Market, By Capacity

• ≤ 10 MMBtu/hr
• > 10 - 50 MMBtu/hr
• > 50 - 100 MMBtu/hr
• > 100 - 250 MMBtu/hr
• > 250 MMBtu/hr

Market, By Technology

• Condensing
• Non-Condensing

Market, By Application

• Residential
• Commercial
  • Offices
  • Healthcare Facilities
  • Educational Institutions
  • Lodgings
  • Retail Stores
  • Others 
• Industrial
  • Food Processing
  • Pulp & Paper
  • Chemical
  • Refinery
  • Primary Metal
  • Others

The above information has been provided for the following countries:

• China
• India
• Philippines
• Japan
• South Korea
• Australia
• Indonesia