Europe Residential Boiler Market annual installation will hit 6 Million Units by 2024

France residential boiler market value surpassed USD 600 million in 2017 owing to re-emerging economic growth after 2008 recessions and growing investments toward infrastructure development along with increasing migrant population.

The Europe Residential Boiler Market is projected to exceed USD 6 Billion by 2024, as reported in the latest study by Global Market Insights, Inc. European market is set to witness strong growth on account of increasing demand for space heating coupled with focus toward resource optimization and limiting carbon footprint. In line with global initiative to minimize CO2 emissions, the European Union in 2015, introduced Eco-design Directive pertaining to solid fuel boilers with an aim to minimize the negative environmental impact of GHG emissions.

Expansion of gas pipeline infrastructure along with shifting trends toward adoption of advanced space heating systems will drive the gas fired residential boiler market growth. Natural gas is the primary source of fuel, among the variety of others being used for residential space heating. As per the European Commission, natural gas delivered 37% of total energy consumed by Europe residential sector. Reducing fuel prices along with the investment toward development of gas supply network will further complement the business landscape.

Condensing residential boiler market is predicted to grow over 2% by 2024. Growing awareness toward efficient heating units along with introduction of stringent government legislatives toward reduction of GHG emissions from residential sector will positively influence the business landscape.

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Water-tube residential boiler market is predicted to witness gains over 2% by 2024. Increasing deployment of underfloor heating units along with the product’s abilities including high pressure handling, quick response and low radiation losses will increase their adoption across the industry landscape.

In 2017, Germany accounted for over 10% of Europe residential boiler market share. Upgradation and expansion of existing residential facilities along with shifting trend from traditional to green infrastructure will drive the product deployment. For instance, in 2013 German Energy Saving Ordinance (EnEV) was amended that lays down the energy performance requirements for existing and new buildings. Rising consumer awareness toward installation of energy efficient heating systems along with robust gas supply infrastructure are some of the key factors which will further drive the business growth.

France residential boiler market was valued over USD 600 million in 2017. Resurgent economic growth post 2008 recession has resulted in an increased demand for HVAC equipment including residential boilers. Growing migrant population and subsequent increase in residential establishments will drive the product demand.

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Eminent players operating in the Europe residential boiler market are NIBE, BDR, Viessmann, Groupe Atlantic, Bosch, Hoval Daikin, Ariston, Immergas, Siemens, Weishaupt, Fondital, Navien, Vaillant, Lennox, Ferroli, ACV, Wolf, amongst others.

Contact Info:
Name: Arun Hegde
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Organization: Global Market Insights, Inc.

Release ID: 473329