Europe Boiler market is predicted to reach over USD 12 billion by 2024. Increasing spending toward renovation of existing building coupled with increasing demand for energy efficient space heating systems will drive the industry growth. Introduction of several standards to promote the development and deployment of energy efficient heating system to reduce greenhouse gas emissions will further propel the business outlook. EU introduced several directives including Renewable Energy Directive, Energy Labelling & Ecodesign, Energy Efficiency Directive, and Energy Performance of Building Directive to limit the GHG emissions.
Austria boiler market in 2016, is set to reach over annual installations of 95 thousand units. Increasing investment towards construction sector along with growing economic will fuel the industry growth. In 2014, according to the European Commission the country witnessed over 47 thousand new residential establishments.
Europe boiler market share is set to witness growth owing to increasing demand for space heating system along with positive outlook toward adoption of renewable technologies. Major players across the region have introduced smart control system integrated products to enhance the system efficiency and reduce fuel loss. Strict efficiency norms have initiated the deployment of high efficiency condensing boilers across the region.
Germany for 2016, accounted for over 13% of Europe boiler market share owing to rapid investment toward construction sector along with favorable measures to promote the deployment of renewable heating technologies. For instance, National Action Plan on Energy Efficiency introduced by government of Germany, with an objective to encourage the adoption of energy efficient systems.
Commercial boiler market share is set to witness growth over 2.5% owing to growing investments toward retrofitting of existing infrastructure and establishment of new commercial centers.
Introduction of EU mandates along with building energy efficiency standards to reduce carbon emissions across the various sectors will further complement business outlook.
Growing disposable income along with increasing spending toward development of new commercial centers will fuel the Spain boiler market. Increasing adoption of gas-based boilers owing to its ability to offer safety and enhanced efficiency over other available alternates.
Ability to offer high efficiency by tapping the heat from flue gases, minimal environment impact and competitive pricing are some of the key parameters which will fuel the condensing boiler market. Rising consumer awareness coupled with strict efficiency standards and norms will further propel the industry outlook. Competitive pricing, safe operations, high pressure handling capacity and long-life span are some of the key benefits which will fuel the water tube boiler market share.
Eminent participants in Europe boiler market includes BDR Thermea, Daikin, Viessmann, Wolf, Siemens AG, A.O. Smith, Ariston Thermo Group, Daikin, NIBE, Bosch, Lennox, Bradford White, Burnham, KyungDong Navien, Vaillant Group, Groupe Atlantic and Weil-McLain.