Investments toward refurbishment of existing infrastructure along with increasing demand for effective space heating will stimulate the Europe boiler market growth. Growing adoption of energy efficient heating units with an aim to limit GHG emissions will complement the industry outlook. Regulatory bodies across the region have introduced efficiency standards to encourage the adoption of energy efficient heating systems. Ecodesign and Energy labelling framework, Renewable Energy Directive (RED), Energy Performance of Building Directive (EPBD) and Energy Efficiency Directive (EED) are some of the prominent measures undertaken by the EU to limit CO2 emissions.
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Austria boiler market is set to exceed an annual installation of 95 thousand in 2016. Resurgent economic growth along with positive outlook towards construction sector will boost the product demand. As per the European Commission, in 2014 the country witnessed over 47 thousand new residential establishments representing growth of over 21% from 2011 level.
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Shifting trends toward adoption of sustainable technologies along with rising need for space heating owing to low average temperatures will augment the Europe Boiler Market. Major industry participants have introduced products with smart control systems to minimize the fuel loss and improve the system efficiency. Furthermore, stringent efficiency norms have instigated the adoption of high efficiency condensing boilers across the region.
In 2016, Germany accounted for over 13% of Europe boiler market share. Robust growth across construction sector coupled with initiatives to promote sustainable heating technologies will boost the product adoption. In 2016, the government of Germany introduced “National Action Plan on Energy Efficiency” with an aim to promote energy efficient technologies and raise consumer awareness pertaining to energy efficient products.
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1. Europe Boiler Market size & share forecast by product & application 2017-2024
2. Growth drivers, pitfalls & industry challenges
3. Europe Boiler Market growth opportunities & emerging business models
4. Competitive benchmarking with market share analysis and company profiles
Europe commercial boiler market is set to witness gain of over 2.5% by 2024. Ongoing investments toward establishment of new commercial centers along with retrofitting of existing buildings will fuel the business growth. Efforts toward improvement of building energy efficiency coupled with EU mandate towards reduction of carbon foot print across the various sectors of economy will further enhance the industry outlook.
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Spain boiler market is set to witness strong growth owing to resurgent economic growth post 2008 recession. Ongoing investments toward development of new commercial centers along with rising disposable income will fuel the business growth. The country in recent years has witness growing adoption of gas-based boilers on account of its improved efficiency and safety when compared to available alternative.
High efficiency and compliance with the efficiency standards are some of the paramount factors which will drive the condensing boiler market. These systems offer improved efficiency when compared to traditional systems by tapping the heat from the flue gases. Competitive pricing with the heating system of similar efficiency has led to increased product penetration across the region.
UK boiler market will witness gains over 2% by 2024. Ongoing investments toward new residential construction along with stringent efficiency standards pertaining to heating systems will drive the demand for these products. The industry in the region is characterized by high penetration of gas fired condensing systems. Rising disposable income across England and Scotland will further complement the business growth.
Ongoing investments toward development of commercial centers along with growing need for the replacement of traditional heating systems will drive the Russia boiler market growth. Demand for efficient space heating technologies on account of harsh winter conditions will further stimulate the product demand.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.