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South Korea Residential Boiler Market to exceed 500 ‘000 units by 2024

Author : Rahul Sankrityayan | Published Date : 2019-05-08 

South Korea residential boiler market is set to exceed 500 ‘000 units by 2024. Government efforts to reduce carbon footprint coupled with growing focus toward adoption of green buildings will boost the product demand. In 2009, the Government of South Korea introduced National Strategy for Green Growth for the period of 2009 to 2050. Its strategic goals include quality of life enhancement, contribution towards climate change initiatives and promotion of eco-friendly growth engines. 

Global residential boiler market size will exceed USD 12 billion by 2024.Introduction of standards and codes toward adoption of efficient heating technologies will fuel the residential boiler market share. In the U.S., Energy Policy and Conservation Act prescribes efficiency standards for residential boilers. As per these standards all oil fired residential boilers manufactured from 1st September 2012 to 15th January 2021 must have minimum Annual Fuel Utilization Efficiency (AFUE) of 84%. 

To access a sample copy or view the Residential Boiler Market report in detail along with the table of contents, please click the link below:


Growth drivers of Residential Boiler Market

North America & Europe

  • Regulations toward reducing carbon footprint
  • Growing demand for energy efficient heating system
  • Increasing demand for space heating

Asia-Pacific and Middle-East & Africa

  • Rapid urbanization
  • Shifting trends toward low emission natural gas

Latin America

  • Political stability
  • Increasing demand for space heating

Rising demand for efficient space heating systems coupled with growing infrastructural investment towards residential sector will stimulate the global residential boiler market size. Government efforts towards sustainable development has resulted in increased spending towards new construction and upgradation of existing establishments. In the year 2015, renovation, maintenance and repair of existing buildings accounted for 60% of residential spending across Europe. 

Economic revival post 2008 recession coupled with rising focus towards improving energy efficiency will embellish the condensing residential boiler market share. The technology offers improved efficiency by utilizing heat from exhaust gases. Ongoing investments toward zero emission building across developed economies will further stimulate the product penetration.

Browse Complete Summary of this report @ https://www.gminsights.com/industry-analysis/residential-boiler-market  

250 pages

496 market data tables

10 figures & charts

U.S. residential boiler market will witness strong growth owing to favorable government incentives toward adoption of energy efficient heating system. Increasing demand for reliable and efficient space heating along with ongoing measures toward energy conservation will further propel the industry growth. 

Efforts towards improving natural gas accessibility and government measures to discourage coal consumption will propel the demand for gas fired residential boiler market. In December 2016, China introduced 13th Five Yea Energy Development Plan with an aim to reduce country’s coal consumption to 58% of total energy consumption by 2020. Natural gas low emission properties when compared to conventional fuel will make its adoption preferable over the forecast timeline. Easy storage coupled with competitive pricing will further complement the business landscape. 

Italy residential boiler market in 2016 was valued over USD 600 million. Enforcement of building regulations coupled with government norms toward reducing emissions will boost the demand for efficient heating units. Country’s Nationally Determined Contribution (NDC) under COP21 includes 40% reduction in greenhouse gas emission by 2030 from 1990 levels. In 2014, residential sector accounted for 18.1 % of total CO2 emissions in the country. 

Browse key industry insights spread across 250 pages with 496 market data tables & 10 figures & charts from the report, “Global Residential Boiler Market Competitive Market Analysis & Forecast, 2017 – 2024” in detail along with the table of contents:


Notable industry participants in residential boiler market include Bosch, Slant/Fin, HTP, AC Boilers, Viessmann, Lennox, Buderus, ACV, NTI Boilers, ECR, Navien, PB Heat, Baxi, Bradford White, Weil-McLain, Parker Boiler, A.O. Smith, Burnham Holdings, Siemens and Saudi Boilers.

Chapter 4. Residential Boiler Market, By Technology

4.1. Global market share by technology, 2016 & 2024

4.1.1.   Condensing    Condensing market, 2013 – 2024    Condensing market volume, by region, 2013 – 2024    Condensing revenue, by region, 2013-2024

4.1.2.   Non-condensing    Non-condensing market, 2013 – 2024    Non-condensing market volume, by region, 2013 – 2024    Non-condensing market revenue, by region, 2013-2024

Chapter 5. Residential Boiler Market, By Product

5.1. Global market share by product, 2016 & 2024

5.1.1.   Fire-tube    Fire-tube market, 2013 – 2024    Fire-tube market volume, by region, 2013 – 2024    Fire-tube market revenue, by region 2013 – 2024

5.1.2.   Water-tube    Water-tube market, 2013 – 2024    Water-tube market volume, by region, 2013 – 2024    Water-tube market revenue, by region 2013 – 2024

Browse complete table of content of this report @


Chapter 6. Residential Boiler Market, By Fuel

6.1. Global market share by fuel, 2016 & 2024

6.1.1.   Natural Gas    Natural gas market, 2013 – 2024    Natural gas market volume, by region 2013 – 2024    Natural gas market revenue, by region 2013 – 2024

6.1.2.   Oil    Oil market, 2013 – 2024    Oil market volume, by region 2013 – 2024    Oil market revenue, by region 2013 – 2024

6.1.3.   Coal    Coal market, 2013 – 2024    Coal market volume, by region 2013 – 2024    Coal market revenue, by region 2013 – 2024

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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