Gas Fired Boiler Market Size Expected to Reach USD $ 89.3 billion with CAGR of 7.8% by 2030 – IndustryARC
Research Reports
Oct 11, 2023
gas-fired boiler market was valued at USD 49.3 billion in 2022 and is expected to grow at a CAGR of 7.8% from 2023 to 2030. In the year 2022, the gas-fired boiler market was characterized by established technology known for its reliability. These boilers found extensive use in industrial and commercial settings, providing steam for processes and heating large spaces. Additionally, gas-fired boilers were common in residential heating systems, particularly in colder regions.
Energy efficiency was considered, but not as prominently as in later years. Environmental regulations related to emissions were relatively lax compared to the present, with fewer efforts to reduce greenhouse gas emissions. Market dynamics were influenced by factors such as energy prices and economic conditions. The market was global, with a stronger presence in developed countries with established natural gas infrastructure. Technological advancements were ongoing, focusing on enhancing combustion efficiency and control systems. Digitalization and remote monitoring capabilities, commonplace in modern boilers, were limited. Maintenance and servicing were vital to ensure proper boiler operation, with service providers and manufacturers offering maintenance contracts and services.
Gas Fired Boiler Market Current and Future Trends
Increasing demand for high-efficiency boilers: High-efficiency boilers are more energy-efficient than traditional boilers, which can help to reduce energy costs and emissions. As a result, the demand for high-efficiency gas-fired boilers is expected to grow in the coming years.
Growing demand for condensing boilers: Condensing boilers are a type of high-efficiency boiler that can capture heat from the flue gases and use it to preheat the incoming water. This can help to improve the efficiency of the boiler by up to 30%. As a result, the demand for condensing boilers is expected to grow in the coming years.
Shift towards renewable energy sources: There is a growing shift towards renewable energy sources, such as solar and wind power. However, renewable energy sources are intermittent, meaning that they do not always produce electricity when it is needed. As a result, gas-fired
boilers can be used to provide backup power and to ensure that there is always a reliable supply of electricity.
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Gas Fired Boiler Market Report – Scope:
1. The Gas Fired Boiler Market has been segmented By Type, By Application, By Capacity, By Technology, By Fuel Type, By End-user. The report provides insights into the market dynamics, including market drivers and challenges.
2. Gas Fired Boiler Market with top country data and analysis. The report also highlights the market potential, growth rates, and alternative relevant statistics.
3. The competitive landscape section features company profiles of major players such as Viessmann, Slant/Fin, Hurst Boiler & Welding, Sellers Manufacturing, Weil-McLain. This report is a valuable source of guidance and direction for companies and individuals interested in the market.
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The top 10 players in the Gas Fired Boiler industry are:
1. Viessmann
2. Slant/Fin
3. Hurst Boiler & Welding
4. Sellers Manufacturing
5. Weil-McLain
6. Babcock & Wilcox
7. Fulton Boiler Works
8. Forbes Marshall
9. Thermax Limited
10. Alfa Laval AB
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Mr. Venkat Reddy IndustryARC Email: sales@industryarc.com USA: (+1) 518-282-4727
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