Combi Boilers Market Size will Observe Substantial Growth by 2026

Global Combi Boilers Market: Overview

A combi boilers is a combination of a highly efficient water heater and a central heating boiler within one compact unit. A combi boilers offers combined functions of a water heater and a central heating boiler to condense surplus energy that would otherwise have been wasted in the atmosphere. It send the energy back to the central heating system. A combi boilers is typically over 90% efficient and thus, it is eco-friendly, as it reduces the carbon footprint. A combi boilers has a flue gas heat recovery system. During the operation of any boiler, flue gases are inevitably formed. The combi boilers recycles the heat from these flue gases and uses it to pre-heat the freshwater as it enters the boiler from mains. This means that the boiler does not need to work hard to heat the water and hence, it requires less energy. The combi boilers also has a condensing pipe which enables the condensed vapor to drain away while the boiler is working.

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Global Combi Boilers Market: Drivers & Restrains

Key factors driving the demand for combi boilers include an effective heating system that costs less; space saving (as there is no need for additional bulky kits like a hot water cylinder or cold tanks); compact size; and enhanced efficiency. As a result, combi boilers are rapidly becoming a preferred heating system across the world, for example, newly built homes in the U.K. have 50% of new boiler installations. Also, stringent government norms pertaining to greenhouse gas (GHG) emissions, primarily across residential establishments, are expected to drive the global market during the forecast period. Respective governments, in collaboration with the EU, have introduced numerous efficiency norms to limit GHG emissions. For instance, the Energy-related Products Directive, introduced in 2009 by the EU, aims at minimizing CO2 emissions and primary energy consumption while promoting the installation of efficient space- and water-heating technologies. Growing urbanization and rising demand for effective heating systems are likely to drive the global combi boilers market during the forecast period. Rising urban population led by internal and external migrations has resulted in increased investment in expansion of residential establishments. As per estimates made by the World Bank in 2015, Japan has 94% of urbanized population. As per the UN Department of Economic & Social Affairs, urban population in South Korea is set to exceed the mark of 19 million by 2050, accounting for over 70% for the country’s total population. The rising demand for retrofitting existing residential establishments and presence of developing economies in Asia Pacific are likely to promote growth of the combi boilers market in the near future.

Global Combi Boilers Market: Key Segments

Based on technology, the combi boilers market can be segmented into condensing boilers and non-condensing boilers. Condensing boilers use the heat from flue gases by using heat exchangers. The trapped heat is supplied to the cold water central heating system, which results in improved efficiency. Minimal environmental impact and high system efficiency are likely to augment the demand for condensing combi boilers during the forecast period. In terms of fuel type, the market for combi boilers can be divided into gas oil, and LPG. The gas segment of the combi boilers market is set to witness growth from 2018 to 2026, due to low cost, competitive fuel prices, ease of storage, and availability of a robust gas supply network across developed economies. Ongoing shift toward adoption of sustainable technologies and harmonization of product prices across the globe are some the underlying factors which have resulted in escalated product demand in recent years.

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Global Combi Boilers Market: Regional Outlook

Among regions, Europe dominated the global market for combi boilers in 2017. In the U.K., combi boilers are used in a majority of new boiler installations due to their high efficiency and compact size. In 2017, Germany held more than 10% share of the Europe combi boilers market, led by initiatives to harness sustainable technologies. With rising investments in residential buildings, the combi boilers market in Germany is likely to witness significant growth in the next few years. In 2015, the government of France enacted the ‘Energy Transition for Green Growth Law’ aimed to reduce the energy consumption in numerous sectors. Owing to factors such as policy initiatives to control CO2 emissions and retrofitting of residential buildings, the combi boilers market in France is expected to witness significant growth in the near future.

Global Combi Boilers Market: Key Players

Prominent players operating in the global combi boilers market are Fondital, Daikin, Vaillant Group, Hoval, A. O. Smith Corporation, Viessmann, BDR Thermea Group, Ferroli, and HTP.

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