Gas Fired Boiler Market Size - By Capacity (≤ 10 MMBtu/hr, > 10 - 50 MMBtu/hr, > 50 - 100 MMBtu/hr, > 100 - 250 MMBtu/hr, > 250 MMBtu/hr), By Technology (Condensing, Non-Condensing), By Application (Residential, Commercial, Industrial) & Forecast, 2024 – 2032

Gas Fired Boiler Market Size

Gas Fired Boiler Market was valued at USD 53.1 billion in 2023 and is anticipated to register 7.9% CAGR from 2024 to 2032. Robust deployment of energy efficient space and water heating systems along with replacement of conventional heating units will further enhance the business landscape.
 

Natural gas fired boiler industry is set to witness an appreciable momentum owing to increasing investments in global infrastructure development and growing demand for space heating across residential and commercial buildings. The extreme climatic conditions will create intensifying demand for hot water systems equipped with intelligent heating technologies, accelerating the industry potential. Moreover, the increasing focus on energy efficiency and reducing carbon emissions in developed economies will drive the adoption of these boilers.
 

COVID– 19 Impact

The COVID- 19 has impacted the gas fired boiler market on a certain margin owing to imposition of lockdown and limited demand across the world. The manufacturers have undergone limited operation on account of shortage of components and scarcity of workers. However, continuous demand for new projects to respond to the crisis including healthcare construction along with ongoing trend of work from home concepted has stimulated the industry expansion.
 

Gas Fired Boiler Market Analysis

The residential boiler market was valued at over 35 billion in 2022. Increasing demand for energy-efficient heating systems and the rising emphasis on energy conservation will positively sway the business potential. The replacement of existing heating units, along with legislation promoting the adoption of efficient boilers, will further boost the gas fired boiler market growth prospects.
 

Commercial boiler market will witness an upsurge owing to surging requirements for space heating in cold climatic regions and the growing preference for green buildings. These boilers are extensively used in hospitals, offices, educational institutions, and hotels. Also, the government's increased investment in the development of new commercial centers and the upgrading of existing buildings will propel the business landscape.
 

The condensing gas fired boiler industry captured around 55% share in 2022. Introduction of government standard toward limiting carbon emission from industrial & commercial premises will favor the business scenario. The product delivers key benefits including high efficiency and low environmental pollution which in turn will offer significant business opportunities.
 

The ≤ 10 MMBtu/hr gas fired boiler market is set to grow at a rate of 7.9% by 2032. Surging consumer awareness regarding environmental impact grows and stricter environmental regulations are introduced to promote the use of efficient and dependable heating systems will positively sway the industry progression.
 

Increasing applicability across commercial and small scale industrial facilities will foster the > 10 - 50 MMBtu/hr gas fired boiler sector. The ongoing industrial sector growth in developing economies together with positive outlook toward manufacturing plants will boost the demand for these systems. The continuous transition towards energy-efficient technologies and favorable government schemes & funding will fuel the gas fired boiler market penetration.
 

The Europe boiler market is set to surpass over USD 50 billion by 2032. The resurgent economic growth in the European Union, along with the implementation of regulations aimed at emission reduction and energy conservation, will drive the gas fired boilers market adoption. Shifting trend nuclear family in line with ongoing investment toward expansion of gas infrastructure will positively impact the industry outlook.
 

Substantial increase in gas consumption, driven by competitive gas pricing and the shale gas revolution will escalate the North America gas fired boiler market. Legislative measures promoting energy conservation and initiatives encouraging the adoption of cleaner fuels will further incentivize the demand for these units. Ongoing technological advancement coupled with increasing demand for modern heat pumps will augment the industry dynamics.
 

Gas Fired Boiler Market Share

The key market players include:

• Babcock & Wilcox Enterprises
• The Fulton Companies
•  Hurst Boiler & Welding
•  Forbes Marshall
•  Rentech Boilers
•  Miura America
•  Viessmann
•  Groupe Atlantic
• Bosch Industriekessel
•  FERROLI
•  WM Technologies
•  BURNHAM COMMERCIAL BOILERS
•  Bradford White Corporation
•  Slant/Fin Corporation
•  A.O. Smith
•  BDR Thermea Group
• Ariston Holding N.V
•  Vaillant Group
•  Carrier and Daikin.
   

Gas Fired Boiler Industry News

• In November 2022, VISSEMANN launched its Vitodens boiler range with an increased output of 35 kW. The new addition provides a Domestic Hot Water (DHW) output between 2.9 kW to 35 kW and a heating output ranging from 3.2 to 32 kW, with a modulation range of 1:10 for increased seasonal efficiency. The new models are Wi-Fi-enabled; therefore, the homeowner has full control of heating.
   
• In January 2022, Hurst Boiler & Welding launched the EGO series tri-fuel boilers. The EGO series can produce power either by gas or oil, utilizing a burner and/or by electricity using a configuration of resistive electric elements to achieve the desired horsepower. In addition, these boilers offer features including smaller footprint with higher water and steam volumes, designed for high steam pressure and stack master economizer included to maximize efficiency and reduce greenhouse gas emissions.
   

This gas fired boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD” from 2019 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 regions and country:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • UK
  • Poland
  • Italy
  • Spain
  • Austria
  • Germany
  • Sweden
  • Russia
• Asia Pacific
  • China
  • India
  • Philippines
  • Japan
  • South Korea
  • Australia
  • Indonesia
• Middle East & Africa
  • Saudi Arabia
  • Iran
  • UAE
  • Nigeria
  • South Africa
• Latin America
  • Argentina
  • Chile
  • Brazil