Gas Boilers Market: Introduction
Gas boilers (gas-fired boilers) are essentially utilized for warming the water to make the steam and procedure it. Gas boilers are energized with gaseous petrol or propane with straightforward alterations in the plan. Gas boilers are utilized in water-and space-warming arrangements. They offer brilliant operational advantages, for example, diminished consumption during shutdown and simple support driven by sufficient perception ports. In addition, the arrangement of gas boilers is less complex than different sorts of boilers.
Increase in the demand for space- and water-heating solutions is driving the global gas boilers market. The industrial development, primarily in developing economies, backed by private and public investments has augmented the demand for boilers. This, in turn, is driving the gas boilers market. Moreover, stringent environmental regulations on greenhouse gas (GHG) emissions have augmented the demand for gas boilers, due to cleanliness and improved fuel efficiency offered by them. However, technical limitations in terms of working under low temperature of gas boilers and higher capital costs are likely to hinder the global market during the forecast period.
Global Gas Boilers Market: Segmentation
The global gas boilers market can be segmented based on type, capacity, application, and region. In terms of type, the market can be divided into condensing and non-condensing. Reduction in costs, such as heating costs, and increased fuel efficiency of condensing gas boilers are projected to drive the market during the forecast period.
Based on capacity, the global market can be categorized into <10 MMBtu/h, 10–50 MMBtu/h, 50–100 MMBtu/h, 100–250 MMBtu/h, and >250 MMBtu/h. The <10 MMBtu/h segment is anticipated to expand at a significant pace during the forecast period, owing to increasing popularity of these gas boilers among domestic users led by their efficient operation. Based on application, the global gas boilers market can be segregated into domestic and industrial. The industrial segment can be sub-segmented into power generation, hospitality, and others (including hospitals). Rising urbanization and growing trend of replacing of low-efficiency domestic boilers, primarily in developing economies, are driving the market for domestic gas boilers.
Global Gas Boilers Market: Regional Outlook
In terms of region, the global gas boilers market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Demand for gas boilers in developing economies, such as China and India, is estimated to rise during the forecast period, owing to ongoing developments, primarily in manufacturing and pharmaceutical industries in these countries. Promising government initiatives and rising private investments in the development of industrial infrastructure have resulted in rapid industrial growth. Moreover, rapid urbanization and improved lifestyle have resulted in increased demand for domestic gas boilers in these countries. Thus, the gas boilers market in Asia Pacific is projected to expand at a rapid pace during the forecast period.
Implementation of stringent environmental laws imposed by the European Union and the U.S. Government regarding greenhouse gas (GHG) emissions is expected to drive the gas boilers market in North America and Europe during the forecast period. The market in Middle East & Africa is projected to witness considerable growth, primarily in countries such as the UAE, Saudi Arabia, Egypt, and Nigeria, due to availability of natural gas resources in these countries.
Global Gas Boilers Market: Competition Landscape
Key players operating in the global gas boilers market are Babcock & Wilcox, Hurst Boiler & Welding Co, Inc., Forbes Marshall, AMEC Foster Wheeler, Rentech Boiler, Miura America, Fulton Boiler Works, SIME Hoval, Fondital, Viessmann, Groupe Atlantic, Bosch, Weil-McLain, Bradford White Corporation, Burnham Holdings, Inc., A.O. Smith, BDR Thermea Group, Parker Boiler, and Vaillant Group.