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Europe Commercial Boiler Market to witness gain of over 2.5% by 2024

Author : Rahul Sankrityayan | Published Date : 2019-06-14 

Global Market Insights, Inc. has recently added a new report on Europe commercial boiler market which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry.

Europe commercial boiler market is set to witness gain of over 2.5% by 2024. Ongoing investments toward establishment of new commercial centers along with retrofitting of existing buildings will fuel the business growth. Efforts toward improvement of building energy efficiency coupled with EU mandate towards reduction of carbon foot print across the various sectors of economy will further enhance the industry outlook.

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Europe Boiler Market size will exceed USD 12 Billion by 2024, as reported in the latest study by Global Market Insights, Inc. Investments toward refurbishment of existing infrastructure along with increasing demand for effective space heating will stimulate the Europe boiler market growth. Growing adoption of energy efficient heating units with an aim to limit GHG emissions will complement the industry outlook. Regulatory bodies across the region have introduced efficiency standards to encourage the adoption of energy efficient heating systems. Ecodesign and Energy labelling framework, Renewable Energy Directive (RED), Energy Performance of Building Directive (EPBD) and Energy Efficiency Directive (EED) are some of the prominent measures undertaken by the EU to limit CO2 emissions.

Austria boiler market is set to exceed an annual installation of 95 thousand in 2016. Resurgent economic growth along with positive outlook towards construction sector will boost the product demand. As per the European Commission, in 2014 the country witnessed over 47 thousand new residential establishments representing growth of over 21% from 2011 level.

Shifting trends toward adoption of sustainable technologies along with rising need for space heating owing to low average temperatures will augment the Europe Boiler Market. Major industry participants have introduced products with smart control systems to minimize the fuel loss and improve the system efficiency. Furthermore, stringent efficiency norms have instigated the adoption of high efficiency condensing boilers across the region.

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In 2016, Germany accounted for over 13% of Europe boiler market share. Robust growth across construction sector coupled with initiatives to promote sustainable heating technologies will boost the product adoption. In 2016, the government of Germany introduced “National Action Plan on Energy Efficiency” with an aim to promote energy efficient technologies and raise consumer awareness pertaining to energy efficient products.

Spain boiler market is set to witness strong growth owing to resurgent economic growth post 2008 recession. Ongoing investments toward development of new commercial centers along with rising disposable income will fuel the business growth. The country in recent years has witness growing adoption of gas-based boilers on account of its improved efficiency and safety when compared to available alternative.

High efficiency and compliance with the efficiency standards are some of the paramount factors which will drive the condensing boiler market. These systems offer improved efficiency when compared to traditional systems by tapping the heat from the flue gases. Competitive pricing with the heating system of similar efficiency has led to increased product penetration across the region.

Key industry participants in the Europe boiler market include Bosch, BDR Thermea, Lennox, Daikin, Bradford White, Viessmann, Weil-McLain, Wolf, Burnham, Siemens AG, Groupe Atlantic, A. O. Smith, KyungDong Navien, Ariston Thermo Group, Vaillant Group and NIBE.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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