Europe Boiler Market 2019 by Industry Growth, Trend, Size, Share And Forecast To 2022

Europe Boiler Market 2019 by Industry Growth, Trend, Size, Share And Forecast To 2022

“Europe Boiler System Market”
Germany dominates the market with 24% of share in 2015, in terms of value. It is expected to grow at 4.84% CAGR during the forecast period. Growing demand for clean energy sources is expected to drive the market in the region. While, U.K. is expected to grow at 4.59% CAGR and reach a market size of USD 703.9 million by 2022.

Market Overview

The Europe boiler system market, according to a recent report published by Market Research Future, is slated to reach a substantial market valuation of USD 3,573.6 million by 2022 and a moderate CAGR over the review period.

Drivers and Restraints

The rising demand for efficient space heating coupled with extreme climatic scenarios across the region is likely to boost Europe’s boiler market growth over the review period. In the past few years, space heating technologies have witnessed an extensive adoption owing to resurgent economic growth. The monumental shift towards single-family housing, coupled with steady growth across the commercial sector, is also projected to fuel the product demand in the foreseeable future. Residential applications are slated to witness a substantial rise on the basis of the introduction of codes and standards towards the construction of new buildings. Moreover, the government initiatives towards zero-emission buildings for environmental sustainability is expected to complement the business outlook over the assessment period. 

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Segmental Analysis

The Europe market for boiler systems is segmented on the basis of capacity and type. On the basis of Type, the Europe market for boiler systems has been segmented into Gas Fired and Oil Fired. The gas-fired boiler market is set to acquire the larger market share over the review period and exceed 3.5 million annual installations by 2024. Shifting trends towards the deployment of energy-efficient heating systems along with competitive natural gas pricing will fuel the demand for these products. Robust gas supply networks, a single market across the EU, and high operative safety are some of the critical factors which have led to increasing demand for these systems.Oil fired boiler market is also expected to witness growth owing to the cost-effectiveness offered by these systems. Price stabilization, coupled with ease of availability of oil, is a significant factor resulting in the growing demand for these heating systems. Ongoing shift toward the adoption of fuel-efficient space heating systems along with government initiatives to reduce greenhouse gas emission is likely to enhance the business landscape further.

on the basis of capacity, the market segmentation consists of up to 20 Tonnes, 20 to 40 Tonnes, and 40 to 50 Tonnes.

Competitive Analysis

The major market players identified by MRFR in the Europe boiler system market are Bosch Industriekessel (Germany), Danstoker Boilers (Denmark), AC Boilers S.p.A (Italy), Babcock & Wilcox Enterprises, Inc. (U.S.), Mitsubishi Hitachi Power Systems, Ltd. (Japan), Proodos Industrial Boilers (Greece), Rentech Boilers (U.S.), ATTSU Termica (Spain), Byworth Boilers (U.K.),   and Siemens AG (Germany).

Regional Analysis

The geographical analysis of the Europe boiler system market consists of countries such as Italy, Germany, Spain, the U.K., France, Poland, and Holland. It has been noted that Germany leads the market in terms of value and is anticipated to rise at a 4.84% CAGR over the review period. The increasing demand for clean energy sources is expected to drive the market in the region. While the U.K. is touted to expand at a 4.59% CAGR and achieve a market value of USD 703.9 million by the end of the assessment period. UK boiler market is poised to witness growth at a 2% CAGR by the end of the review period. Moreover, the increasing investments towards new residential construction projects coupled with strict efficiency standards concerning heating systems are predicted to drive the demand for these systems in the near future. The industry in the region is poised to grow due to a high penetration of gas-fired condensing systems. The growing disposable income across England and Scotland will further complement the business growth.

increasing investments toward the development of commercial centers along with the increasing need for the replacement of conventional heating systems is slated to drive the Russia boiler market growth over the review period. The demand for effective space heating technologies on the basis of harsh winter conditions are expected to further drive product demand.

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