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Global Gas Fired Boilers Market Size, Trends, Analysis: By Material Type: Cast Iron, Stainless Steel, Cast Aluminium, Others; By Application: Residential, Commercial, Industrial; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032
Global Gas Fired Boilers Market Outlook
The global gas-fired boilers market is expected to grow at a CAGR of about 4.10% in the forecast period of 2024-2032, owing to the increasing demand for space and water heating.
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North America to be a Significant Regional Market for Gas Fired Boilers
The North American region is anticipated to be one of the leading regions and an excellent platform for the growth of the market in the coming years. The climate in the North American region has accelerated the development of water heating equipment sales, owing to which the gas-fired boilers market is projected to grow at a decent growth rate in the North American region. The resurgent economic growth and ongoing investment in upgrading industrial facilities will stimulate the demand for gas-fired boilers. Changing consumer preferences toward processed food and rising disposable income will propel product demand across the food processing sector.
In recent years, Europe's commercial and chemical industries have experienced significant expansion, thereby expected to promote gas-fired boiler sales in the region. Due to the region's strict pollution regulations, Germany's gas-fired boiler market is expected to increase. The passage and successful execution of government legislation aimed at reducing industrial pollution have increased by replacing traditional heating systems. Old boiler inventory and growing efforts to maximise energy utilisation have led to the demand for high-efficiency gas-fired boilers.
Market Segmentations
A boiler is a closed vessel in which fluids are heated. Natural gas and liquefied petroleum gas are used as fuel in gas-fired boilers. In industrial and domestic settings, gas-fired boilers are commonly used to generate steam and hot water. In comparison to oil-fired boilers, gas-fired boilers can attain better levels of efficiency.
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Based on material type, the market includes:
- Cast Iron
- Stainless Steel
- Cast Aluminum
- Others
The significant applications of the market are:
- Residential
- Commercial
- Industrial
The regional markets for the gas-fired boilers market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
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Increasing Awareness About Environment Degradation Augmenting the Market Growth
The global gas-fired boilers market growth is driven by regulatory initiatives to limit the environmental effect of greenhouse gas emissions and the rising demand for space and water heating. The European Union (EU), for example, has set a target of reducing GHG levels by 55 percent by 2030. Rapidly expanding population size and urbanisation on a global scale and focusing on cleaner fuel will augment the business landscape. Rising demand for speciality chemicals, the shift toward the consumption of processed food, and resurgent economic growth across key developing nations are anticipated to drive the gas-fired boiler market share. Supportive government policies toward the development of industrial facilities, along with increasing investment toward expansion of commercial centres and augmenting the infrastructure spending, will positively impact the business landscape. Since the development of residential buildings is increasing and gas-fired boilers are used to heat water in the residential sector, the market for gas-fired boilers is likely to rise.
Key Players in the Global Gas Fired Boilers Market
The report gives a detailed analysis of the following key players in the global gas-fired boilers market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Isgec Heavy Engineering Ltd.
- Forbes Marshall Pvt., Ltd
- Carrier Corporation
- U.S. Boiler Company, Inc.
- Thermax limited
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Material Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Region
7 Opportunities and Challenges in the Market
8 Global Gas Fired Boilers Market Analysis
8.1 Key Industry Highlights
8.2 Global Gas Fired Boilers Historical Market (2018-2023)
8.3 Global Gas Fired Boilers Market Forecast (2024-2032)
8.4 Global Gas Fired Boilers Market by Material Type
8.4.1 Cast Iron
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Stainless Steel
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Cast Aluminium
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Gas Fired Boilers Market by Application
8.5.1 Residential
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Commercial
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Industrial
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Gas Fired Boilers Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Gas Fired Boilers Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Gas Fired Boilers Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Gas Fired Boilers Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Gas Fired Boilers Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Gas Fired Boilers Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Isgec Heavy Engineering Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Forbes Marshall Pvt., Ltd
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Carrier Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 U.S. Boiler Company, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Thermax limited
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
List of key Figures and Tables
1. Global Gas Fired Boilers Market: Key Industry Highlights, 2018 and 2032
2. Global Gas Fired Boilers Historical Market: Breakup by Material Type (USD Million), 2018-2023
3. Global Gas Fired Boilers Market Forecast: Breakup by Material Type (USD Million), 2024-2032
4. Global Gas Fired Boilers Historical Market: Breakup by Capacity (USD Million), 2018-2023
5. Global Gas Fired Boilers Market Forecast: Breakup by Capacity (USD Million), 2024-2032
6. Global Gas Fired Boilers Historical Market: Breakup by Application (USD Million), 2018-2023
7. Global Gas Fired Boilers Market Forecast: Breakup by Application (USD Million), 2024-2032
8. Global Gas Fired Boilers Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Gas Fired Boilers Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Gas Fired Boilers Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Gas Fired Boilers Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Gas Fired Boilers Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Gas Fired Boilers Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Gas Fired Boilers Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Gas Fired Boilers Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Gas Fired Boilers Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Gas Fired Boilers Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Gas Fired Boilers Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Gas Fired Boilers Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Gas Fired Boilers Market Structure.
Key Questions Answered in the Report
The global market is projected to grow at a CAGR of 4.10% between 2024 and 2032.
The major drivers of the market include the rapidly expanding population size, urbanisation, rising demand for speciality chemicals, shift toward the consumption of processed food, supportive government policies, increasing investment toward expansion of commercial centres, and development of residential buildings.
The regulatory initiatives to limit the environmental effect of greenhouse gas emissions and rising demand for space and water heating are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Based on material type, the market includes cast iron, stainless steel, and cast aluminium, among others.
The significant applications of the market are residential, commercial, and industrial.
The major players in the industry are Isgec Heavy Engineering Ltd., Forbes Marshall Pvt., Ltd, Carrier Corporation, U.S. Boiler Company, Inc., and Thermax Limited, among others.
Analyst Review
The global gas-fired boilers market was driven by the regulatory initiatives to limit the environmental effect of greenhouse gas emissions in the historical period. Aided by the rising demand for speciality chemicals and supportive government policies, the market is expected to grow at a CAGR of 4.10% in the forecast period of 2024-2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on material type, the market includes cast iron, stainless steel, and cast aluminium, among others. The significant applications of the market are residential, commercial, and industrial. The major regional markets for gas-fired boilers are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The key players in the above market are Isgec Heavy Engineering Ltd., Forbes Marshall Pvt., Ltd, Carrier Corporation, U.S. Boiler Company, Inc., and Thermax Limited, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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