According to the report by Expert Market Research (EMR), the Global Gas Fired Boilers Market Size is projected to grow at a CAGR of 4.10% between 2023 and 2028. Aided by the rising demand for efficient heating solutions and the expanding applications of gas fired boilers in diverse industries, the market is expected to grow significantly by 2028.
Gas fired boilers are prevalent heating equipment, extracting heat from burning natural gas. They are often used in residential, commercial, and industrial settings for a variety of purposes including space heating and water heating. These boilers play an integral part in maintaining thermal comfort and improving overall building performance. Besides their primary role in heating, gas fired boilers are known for their high efficiency, clean combustion, and significant carbon emission reductions, making them a prized feature in energy-intensive applications such as power generation and industrial processes.
The escalating consumer preference for energy-efficient and environmentally friendly heating solutions is driving the global gas fired boilers market growth. As awareness of the environmental and cost benefits associated with energy-efficient technologies increases, there has been a significant shift towards the adoption of gas fired boilers. Furthermore, stringent government regulations and initiatives promoting low carbon technologies have contributed to the increasing popularity of gas fired boilers.
The broadening applications of gas fired boilers in various industries are also instrumental in increasing the gas fired boilers market demand. In power generation, gas fired boilers are used for generating steam to drive steam turbines. In industrial processes, these boilers serve as a heat source for manufacturing processes. The hospitality sector utilises gas fired boilers for hot water supply, whereas in residential settings, they are used for space and water heating.
Further, the growing demand for sustainable energy solutions in the power generation and industrial sectors has led to an enhanced focus on gas fired boilers as a suitable alternative to traditional coal-fired systems. With the global push towards decarbonisation and the increasing adoption of natural gas as a cleaner energy source, gas fired boilers have emerged as a critical solution for heat and power generation, thereby stimulating the gas fired boilers market expansion.
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Gas Fired Boilers Market Segmentation
The market can be divided based on material type, application, and region.
Market Breakup by Material Type
• Cast Iron
• Stainless Steel
• Cast Aluminium
• Others
Market Breakup by Application
• Residential
• Commercial
• Industrial
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
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Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global gas fired boilers companies. Some of the major key players explored in the report by Expert Market Research are as follows:
• Isgec Heavy Engineering Ltd.
• Forbes Marshall Pvt., Ltd
• Carrier Corporation
• U.S. Boiler Company, Inc.
• Thermax limited
• Others
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