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Gas Fired Boiler Market Size

Report ID: GMI3021
Published Date: May 2023
Report Format: PDF

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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.

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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.

Gas Fired Boiler Market Report Attributes
Report Attribute	Details
Base Year:	2023
Gas Fired Boiler Market Size in 2023:	USD 53.1 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	7.9%
2032 Value Projection:	USD 105.9 Billion
Historical Data for:	2019 to 2023
No. of Pages:	650
Tables, Charts & Figures:	1,279
Segments covered:	Capacity, Technology, Application
Growth Drivers:	Residential Regulations toward limiting the carbon footprint Increasing demand for space heating Rapid urbanization and shift toward cleaner fuels Commercial Positive outlook toward healthcare sector Rising need for space heating Growing demand for energy efficient boilers Industrial Positive outlook toward chemical & food processing industry Rapid industrialization across developing economies
Pitfalls & Challenges:	High initial investment Rising popularity of available alternatives

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Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market valuation of the gas fired boiler was reached USD 53.1 billion in 2023 and is estimated to expand at 7.9% CAGR during 2024 to 2032, explains GMI report.

Condensing gas-fired boiler industry share of over 55% in 2022 due to the introduction of government standards toward limiting carbon emissions from industrial & commercial premises.

Residential gas-fired boiler sector crossed a valuation of USD 35 billion in 2022 owing to the increasing demand for energy-efficient heating systems and the rising emphasis on energy conservation.

Babcock & Wilcox Enterprises, The Fulton Companies, Forbes Marshall, Rentech Boilers, Miura America, Viessmann, Groupe Atlantic, WM Technologies, BURNHAM COMMERCIAL BOILERS, Bradford White Corporation, A.O. Smith, BDR Thermea Group, Ariston Holding N.V., and Vaillant Group.