Growing demand for economical, compact, and efficient heating systems will offer an impetus to combi boiler market growth in the near future. Intensifying environmental concerns to limit greenhouse gas emissions have encouraged installation of combi boiler systems across residential and commercial spaces. Alongside, rising consumer inclination towards the use of sustainable systems will spur combi boiler industry demand. Many regulatory reforms have been introduced to support adoption of energy-efficient heating systems, resulting in replacement of conventional heaters with combi boilers.
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According to a comprehensive research study published by Global Market Insights, Inc., combi boiler market is predicted to surpass an annual installation of 11 million units by the end of 2026.
Combi boilers offer various benefits, such as ease of installation, compact size, high operational efficiency, and cost-effectiveness. These systems considerably reduce operation costs and enhance efficiency as compared to non-integrated water and space heating systems. Rapid urbanization on a global scale has amplified investments towards the development of existing residential buildings, which will proliferate combi boiler industry demand.
On the basis of fuel type, combi boiler market can be fragmented into oil, natural gas, and others. Among these, gas-fired combi boilers are likely to witness significant adoption owing to consumer inclination toward sustainable technologies and economical products. Rise in fuel prices along with growing demand for cost-effective, economical heating solutions is likely to escalate gas fired combi boilers industry share.
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Moreover, government initiatives aimed at limiting carbon emissions, in the form of strict green building standards and codes will further expedite gas fired combi boiler installation.
On the basis of technology, combi boiler industry is segmented into condensing and non-condensing boilers. Condensing boilers are highly efficient and leave minimal environmental impact, which will drive combi boiler market demand. These boiler systems uses heat from flue gases with the help of heat exchangers for improved operational efficiency. Residential spaces are generating high demand for economical and energy-efficient heating solutions. Also, governments are introducing various regulations to reduce consumption of primary energy across the residential sector, which may push the growth of combi boiler industry.
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Combi boiler market forecast report estimates that Asia Pacific combi boiler market is expected to depict a 6% CAGR over 2020-2026. Escalating urbanization has augmented construction activities in the region. For example, as per the United Nations (UN), more than 65% of the population in China is anticipated to reside in urban areas by 2025. Moreover, heavy investments directed towards the improvement of natural gas supply networks to meet the primary energy demands of the domestic sector is supporting industry growth. Such a favorable business scenario is likely to impel the growth of Asia Pacific combi boiler industry share over the coming years.
Many leading combi boiler market players are investing in research and development activities to develop innovative products and technologies. They are pursuing various strategies, such as collaborations, mergers, acquisitions to expand and retain their customer base. Some of the notable industry players are Daikin, A.O. Smith Corporation, and Bosch Thermotechnology amongst others.
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