Global Gas Fired Boilers Market Size will register a 5.1% CAGR in terms of revenue, is expected to reach $ 12740 million by 2026, from $ 10440 million.
Gas boilers along with furnaces are fuelled either by natural gas or propane with little modification that account for several features of fuel however fuel comes at a cheaper rate than propane. Number of retrofits are made believable by the gas fired boilers. Yet, before proceeding with any of the retrofits, added benefits should be considered that one could receive through the replacement of furnace.
When compared to other boilers, gas-fired boilers achieve the efficacy of 95% which makes them more potent and hence these boilers are expected to see a rise in the demand for both commercial and residential segments in coming years. As there is growth in the construction of residential buildings and the usage of gas-fired boilers in residential segment is to heat water, there is expected to be a surge in the market of gas-fired boilers. Strict regulations in an effort to control the traditional boilers induced releases will increase the demand for gas-fired boilers. In addition, there has been a paradigm shift towards the cleaner fuel which will increase the demand for gas-fired boilers even more.
Top Key players in the Gas Fired Boilers Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Gas Fired Boilers Market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes Viessmann, WOOD, Forbes Marshall, Babcock & Wilcox, Miura, Rentech Boiler, Fulton, Hurst Boiler & Welding Company, Inc., Ferroli, Hoval, Parker Boiler, Fondital, Isjec Heavy Engineering Ltd., Alfa Laval AB, Thermodyne Engineering Systems (India), Carrier Corporation, U.S. Boiler Company, Inc., Thermax limited, Lochinvar Ltd, Weil-McLain, Microtech Boilers Pvt. Ltd., ThyssenKrupp AG, Bosch Industriekessel GmbH, Westinghouse Electric Corporation, Rite Engineering and Manufacturing Corporation, Sofinter S.p.a, and Velocity Boiler Works and others.
What are the major Applications, Types and Regions for Gas Fired Boilers Market?
Gas Fired Boilers Market is segmented based on the type, applications, companies and regions.
The segment of 1-5 MW holds a comparatively larger share in global market, which accounts for about 61% and The commercial holds an important share in terms of applications, and accounts for 65% of the market share.
The report offers in-depth assessment of the growth and other aspects of the Gas Fired Boilers Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
North America region is anticipated to make an excellent platform for the growth of the gas-fired boilers market in recent future. The climate in the North America region has accelerated the growth of water heating equipment sales, owing to which the gas-fired boilers market is projected to grow at a decent rate in the North America region. Latin America region is anticipated to initiate the gas-fired boilers market owing to the increasing demand from the commercial and industrial applications.
Europe has witnessed noteworthy growth in the commercial spaces and the chemical industry in the recent past. The growth of the commercial spaces and chemical industry in Europe is anticipated to drive the sales of the gas-fired boilers in the region.
The Middle East and Africa region have developed new commercial spaces owing to the increasing tourism in the region. The growth of the commercial spaces in the region is anticipated to boost the sales of gas-fired boilers market in the Middle East and Africa in the recent future.
Asia Pacific is a region with high potential for the growth of the gas-fired boilers market. The labour costs are reduced due to high population, which has added to the growth of different industries, commercial spaces, and residential buildings in the region. Owing to this, the demand for the gas-fired boilers in the future is expected to remain high in the region.
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2021-2026. The report presents the analysis of Gas Fired Boilers Market for the historical period of 2017-2021 and the forecast period of 2021-2026.
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Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.