Europe Steam Boiler Market Size By Capacity, By Fuel (Natural Gas, Oil, Coal), By Technology (Condensing, Non-Condensing), By Application (Commercial, Industrial), COVID-19 Impact Analysis, Forecasts 2023 - 2032

Europe Steam Boiler Market Size By Capacity, By Fuel (Natural Gas, Oil, Coal), By Technology (Condensing, Non-Condensing), By Application (Commercial, Industrial), COVID-19 Impact Analysis, Forecasts 2023 - 2032

Europe Steam Boiler Market is estimated to grow noticeably through 2032, owing to strict objectives and policies imposed by the European Union (EU) to adopt strategies for minimizing the carbon footprint of several establishments. Besides, rising initiatives across European nations for developing infrastructure with innovative and energy-efficient systems will enhance the industry landscape.

In addition, respective governments are leveraging several tools, such as policy interventions, environmental regulations, trade facilitation, and technological innovations in industries, to fulfill the rising domestic demand and entering international markets. The standards for replacing traditional heating systems with energy-efficient units will also enhance the industry potential.

Overall, the Europe steam boiler industry is segmented in terms of capacity, fuel, application, and country.

Based on capacity, the > 50–100 MMBtu/hr boiler segment is slated to witness massive growth through 2032. These boilers are used extensively across commercial & industrial facilities, including manufacturing, primary metals, the paper and pulp industry, and refineries. The budding expansion of manufacturing plants, coupled with the robust development of industries, will escalate the demand for such units.

By fuel, the electric segment held over 15% market share in 2022. Increasing single-family households, coupled with strict government norms for developing zero-emission buildings, will escalate the industry outlook. The replacement of traditional heating systems with advanced boilers will also spur product demand in the future. According to reports, the demand for boiler replacement is strong across nations where the age of boiler stock is near to or over the average operating life.

Considering the application, the industrial boiler market will witness strong growth in the European region, owing to the rising industrialization and investments in the expansion of manufacturing facilities. Furthermore, constant initiatives to minimize the electricity demand-supply gap coupled with rapid industrialization are anticipated to boost product deployment.

In terms of country, the UK steam boiler industry is expected to register noticeable gains through 2032. The growth can be attributed to the increasing investment made by the public players in developing manufacturing plants and the shifting focus of the government towards decarbonization. As per GOV.UK, businesses across the nation are likely to benefit from USD 14.5 million government funding to help energy-intensive industries reduce their energy costs and carbon emissions.

In addition, strict norms for developing green buildings coupled with the ongoing replacement of traditional boiler systems with condensing technology will escalate business growth.