The combi boiler market is predicted to be worth US$ 19,347.1 million in 2023, rising to US$ 29,759.2 million by 2033. During the projection period, combi boiler sales are expected to expand at a substantial CAGR of 4.4%.
A combination boiler, sometimes known as a “combi,” is a small appliance that combines a heating boiler system and a high-efficiency water heater. Combi boiler systems also require less plumbing, which reduces upfront expenses and the possibility of a pipe leak.
Combi boilers are preferred by around 72% of UK homeowners over traditional boilers because of their efficiency and compact form. Combi boilers are connected to the mains water supply and offer on-demand hot water. The market for combi boilers is expected to grow due to rising urbanization. Furthermore, population growth in the developing regions is rapid, with the urban population anticipated to rise from 3.85 billion today to 6.31 billion in 2050. Such factors will increase global demand for combi boilers.
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As a result, combi boilers are ideal for installation in a loft, or even a kitchen closet. Some designs may incorporate a tank, allowing for increased hot water flow rates. During the projection period, such advances will drive demand for combi boilers. In light of rising use of dependable and effective heating solutions, the condensing technology category is predicted to dominate the global market share in 2022. High operating efficiency, less environmental contamination, lower energy costs, and increased energy recovery are some key variables that will positively influence product demand.
Key Takeaways from the Market Study
- In 2022, the global combi boiler market is estimated to have a global market size of US$ 24.2 Bn.
- By fuel, the natural gas segment is expected to inhibit a 5.2% CAGR during the forecast period.
- By technology, the condensing segment is projected to acquire a global market valuation of 82% in 2022.
- The European market for combi boilers will grow with a 5.6% CAGR during 2022-2032.
- The APAC combi boiler market is expected to grow with a 4.95% CAGR during the forecast period.
- The North American region is projected to acquire 31% of the global market share in 2022.
“Simple design, substantial energy savings, compact size, enhanced efficiency, and dependable operation across a wide range of applications will drive industry demand, as will continuous expenditures in the installation of space heating technologies,” comments a Future Market Insights analyst.
Competitive Landscape
The most important strategy being taken by the market’s leading players is the expansion of their product portfolio. At the moment, certain players are attempting to improve product quality by utilizing modern technologies such as IoT and AI. In addition, firms are using partnerships, mergers and acquisitions, and collaboration as significant methods to enter a new market.
- Vaillant, a British combi boiler manufacturer, manufactures combination boilers with power ratings ranging from 24 to 38 kW. In their household line, they also make heating boilers ranging from 18 kW to 38 kW, as well as hot water storage units, solar systems, and heat pumps. Vaillant also offers a commercial line of wall-hung boilers with capacities ranging from 46 to 120 kW, as well as floor-standing boilers.
- Viessmann provides innovative heating systems for all fuel types and output levels of 1.5 to 20,000 kW. Because everything is supplied from a single source, their product line is divided into three categories (100, 200, and 300) and offers a suitable solution for every heating requirement or budget.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global combi boiler market, presenting historical analysis from 2016 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of fuel (natural gas, oil, and others), by technology (condensing and non-condensing) and region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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Key Segments Covered in the Combi Boiler Market Report
Combi Boiler Market by Fuel:
- Natural gas-powered Combi Boiler
- Oil-Powered Combi Boiler
- Combi Boilers powered by Other Fuels
Combi Boiler Market by Technology:
- Condensing Combi Boilers
- Non-Condensing Combi Boilers
Combi Boiler Market by Region:
- North America Combi Boiler Market
- Latin America Combi Boiler Market
- Europe Combi Boiler Market
- Asia Pacific Combi Boiler Market
- Middle East & Africa Combi Boiler Market
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