The global combi boiler market is projected to expand steadily at a CAGR of 5.2% value, during the forecast period 2022-2032. In the year 2022, the market size is forecast to gain a global market valuation of US$ 24.2 Billion. Considering the rising demand in the global market, the combi boiler market is expected to reach US$ 40.17 Billion by 2032.
A combi boiler, also known as a combination boiler, is a compact single-unit water heater. It can also be used as the central heating boiler for a larger heating unit because installation is simple and requires little effort. These central heating solutions are commonly used in colder countries to keep a comfortable room temperature inside the house. A combi boiler also helps to use excess heat energy generated in an industry that would otherwise be lost to the atmosphere.
The combi boiler is a high-efficiency heating system that includes a heat exchange system for flue gas. This is because the gas generated by the boiler during operation can be collected and reused.
The rapidly increasing population and the convenience of life brought about by technology are the primary driving forces behind the global combi boiler market’s expansion. One of the most prominent factors for which this type of boiler is gaining traction in the global market is that they offer efficient heating solutions at a very affordable price. Furthermore, rigorous government rules on greenhouse gas emissions have helped the expansion of the combi boiler market.
According to market research and competitive intelligence provider Future Market Insights, the market for combi boilers increased by 4.5% from 2017 to 2021. Various governments imposed stringent regulations all over the world during the COVID-19 pandemic. Most production and manufacturing units were hampered as a result of a labor shortage and a disrupted supply chain. This hurt combi boiler demand, causing sales to fall during the historical period.
The natural gas sector in the combi boiler market is expected to develop at a 5.3% CAGR through 2032. High energy reductions, operational safety, simple and low-cost installation, and simple gas extraction are just a few of the elements that will drive market demand. Furthermore, stringent rules and policies to reduce GHG footprint in tandem with falling natural gas costs would boost the business landscape during the forecast period.
- Bosch Thermotechnology
- BDR Thermea Group
- Bradford White Corporation
- A.O. Smith
- Vaillant Group
- Fonderie Sime
- Ariston Holding Thermodyne Boilers
- Rinnai America Corporation