The gas condensing boiler market growth is anticipated to the increasing concerns toward carbon emissions along with the growing penetration of integrated space and water heating solutions. Additionally, continuous technological advancements for developing modern facilities and ongoing replacement of conventional units with cost-effective solutions will drive industry growth. Furthermore, rapid urbanization across emerging economies in line with shifting trends and sustainable solutions will surge market expansion. However, respective government measures to restart the operations across major industries, manufacturing facilities, and infrastructural developments will propel the market growth.
MARKET SCOPE
The "Global Gas Condensing Boiler Market Analysis to 2028" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on global market trend analysis. The report aims to provide an overview of the gas condensing boiler market with detailed market segmentation by module type, mounting, installation, application, end user, and geography. The global Gas condensing boiler market is expected to witness rapid growth during the forecast period. The report provides key statistics on the market status of the leading Gas condensing boiler market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global gas condensing boiler market is segmented by type, and application.
- On the basis of type, the market is segmented into Floor Standing Boiler, Wall Mounted Boiler.
- On the basis of application, the market is segmented into Residential, Commercial, Industrial.
MARKET DYNAMICS
Drivers:
- The respective government measures to restart the operations across major industries, manufacturing facilities, and infrastructural developments will propel the market growth.
- The limited manufacturing, slow economic rebounds across various industries, and potentially declined demand for water heating technologies have hindered market growth.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive connector's market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive connector's market in these regions.
IMPACT OF COVID-19
Governments worldwide have imposed lockdowns to slow the spread of the COVID-19 pandemic. Stakeholders in the industry are only partially working to comply with social distancing, and demand for products and services has yet to pick up. Some industry verticals were allowed to resume business operations as they found it difficult to launch without other sectors on which they depend. For example, the steel industry in India reported a 6- 5% more than last year, and cement accounts for more than 25-30% of capacity utilization. Automakers struggle to operate without supplying auto components due to inconsistent production start-up permits. The outbreak has adversely affected the manufacturing sector due to the disruption to supply chains, falling demand and shortages of materials and labour. This scenario has put a lot of pressure on industry players to increase their sales and marketing activities. Despite this optimistic outlook, the pandemic has significantly impacted the steam and boiler industry, particularly maintenance. Many boiler and steam maintenance companies have not been able to perform services like basic inspections and maintenance as often as they used to because of the strict social isolation and lockdown regulations in the United States. In May 2022, Valmet was chosen as the tenderer for completing the biomass boiler, flue gas cleaning, and flue gas condensing system working for Vilnius Combined Heat and Power Plant in Lithuania. Vilnius Combined Heat and Power Plant are working on a modern heat generation capacity development project in the Vilnius central heating system; thereby, It will help the market recover from the COVID-19 disruptions.
MARKET PLAYERS
The reports cover key developments in the Gas condensing boiler market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from Gas condensing boiler market are anticipated to lucrative growth opportunities in the future with the rising demand for Gas condensing boiler in the global market. Below mentioned is the list of few companies engaged in the Gas condensing boiler market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Gas condensing boiler market. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, the key development in the past five years.
- Daikin
- Hoval Italia
- Grant
- KD Navien
- Viessmann
- Wayne Combustion
- Saint Roch
- Worcester
- Titan
- De Dietrich Heating