Combi Boiler Market Size By Fuel (Natural Gas, Oil), By Technology (Condensing, Non-Condensing), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2030
The combi boiler market is set to witness massive growth through 2030 owing to growing demand for energy-efficient heating systems. Additionally, rapid urbanization, along with supportive government regulations to reduce carbon emissions, is expected to further bolster industry expansion over the forecast timeframe.
Notably, major industry players have been adopting profitable strategies, as well as focusing on product innovation to gain a better business standing, thereby improving the overall dynamics of the combi boiler market. For instance, in May 2022, Navien, a pioneer in condensing technology, launched the NCB700 combi gas boiler, the first boiler of its kind in the market that is capable of supplying hot water to three bathrooms simultaneously. This product claimed to reduce water wastage as well as deliver a water flow rate of 22 liters per minute. The new combi unit is economical when compared to regular boilers since it involves no operational costs in context of preheating or keeping water inside a cylinder warm.
In another notable development, in March 2021, Viessman, a German manufacturer of heating and refrigeration system, launched the Vitodens 100-W, a next-gen gas-condensing boiler. This new boiler comes in combi boiler, system boiler, and system combi. Alongside, Viessman also announced the launch of a new wall-mounted combi boiler, the Vitodens 111-W, which promised a flow rate of nearly 181 liters in 10 minutes. In a bid to deal with the mounting demand for environment-friendly solutions, the firm stated that all boiler variants are certified for a 20% hydrogen blend.
The combi boiler market has been bifurcated in terms of technology, fuel, and region. Based on technology, the market has been segmented into non-condensing and condensing.
The condensing segment is projected to showcase notable expansion over the assessment timeframe. A shift in preference for integrated space and water heating systems due to their low life cycle costs and compact design is expected to favor the business scenario in the upcoming time.
On the basis of fuel, the combi boiler market has been divided into oil and natural gas. The increasing rate of replacement of conventional boilers with advanced units is likely to positively sway the growth of the oil segment.
In the regional landscape, the Middle East & Africa combi boiler market is set to experience robust growth at a rate of about 3.6% by 2030. Meanwhile, the LATAM combi boiler industry is poised to exhibit steady development up to 2030. Surging demand for energy-efficient integrated heating systems, coupled with favorable regulations to limit carbon footprint, is foreseen to energize industry dynamics in the LATAM region.
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