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Gas Fired Boiler Market Size

Report ID: GMI3021
Published Date: Nov 2024
Report Format: PDF

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Gas Fired Boiler Market Size

The global gas fired boiler market was valued at USD 59.8 billion in 2024 and is estimated to grow at a CAGR of 6.8% from 2025 to 2034, owing to the rising global infrastructure investments and increasing demand for space heating. Extreme climatic conditions are set to heighten demand for hot water systems with advanced, smart heating technologies, boosting the industry potential. Additionally, rising focus toward energy efficiency and carbon reduction in developed economies will further encourage the adoption of these boilers.

gas fired boiler market

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A gas boiler is a heating device that burns natural gas or propane to produce heat, which is used to generate hot water or steam for heating and industrial applications. The boiler heats water that is then circulated through radiators or a heating distribution system to provide warmth or hot water. The strong adoption of energy-efficient space and water heating solutions, along with the replacement of outdated heating systems, is anticipated to further boost the industry landscape.

Gas Fired Boiler Market Report Attributes
Report Attribute	Details
Base Year:	2024
Gas Fired Boiler Market Size in 2024:	USD 59.8 Billion
Forecast Period:	2025 – 2034
Forecast Period 2025 – 2034 CAGR:	6.8%
2025 – 2034 Value Projection:	USD 118.3 Billion
Historical Data for:	2021 – 2024
No. of Pages:	150
Tables, Charts & Figures:	45
Segments covered:	Capacity, Technology, Application and Region
Growth Drivers:	Regulations toward limiting the carbon footprint Growing demand for energy efficient boilers Rapid industrialization across developing economies
Pitfalls & Challenges:	High initial investment

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Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The global market for gas-fired boiler was reached USD 59.8 billion in 2024 and is estimated to grow at a 6.8% CAGR from 2025 to 2034, driven by rising global infrastructure investments and increasing demand for space heating.

The ? 10 MMBtu/hr gas-fired boiler industry is projected to exceed USD 90 billion by 2034, due to growing consumer awareness about environmental impact and stricter regulations promoting efficient heating systems.

The commercial gas-fired boiler market size is expected to witness a CAGR of over 7% through 2034, fueled by the increasing demand for energy-efficient heating systems and a focus on energy conservation.

The U.S. gas-fired boiler market is set to reach over USD 3 billion by 2034, led by ongoing measures to support energy conservation and a shift toward cleaner fuels.

Major players in the gas-fired boiler industry include A.O. Smith, Ariston Holding, Babcock & Wilcox Enterprises, BDR Thermea Group, Bosch Industriekessel, Bradford White Corporation, Burnham Commercial Boilers, Carrier, Daikin, Ferroli, Forbes Marshall, Groupe Atlantic, Hurst Boiler & Welding Co, Lochinvar, Miura America, Rentech Boilers, The Fulton Companies, Vaillant Group, Viessmann, and WM Technologies.