Natural Gas Boilers Market Global Outlook by Industry Facts, Size, Sales, Growth, Applications, Products, Revenue & Forecast 2023
6 May 2019 - The Global Natural Gas Boilers Market is expected to gain momentum over the upcoming years owing to the rapid urbanization and increasing manufacturing activities in the North America and Western European region. Rising demand for natural gas boilers from residential sector to keep houses warm and cozy during winter seasons is expected to drive the demand for natural gas boilers over the forecast period. Globally, natural gas boilers market is predicted to generate massive revenue over the forecast period, providing numerous opportunities for industry participants to invest in research and development of natural gas boilers.
Increasing use of natural gas boilers for various end-use industries including chemical industry, refineries and metals & mining industry. Rising preference towards natural gas boilers over the oil boilers is expected to favor market demand over the coming years as well.
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Furthermore, stringent laws & regulations by regional governments to curb greenhouse gas emission is expected to drive the market demand for natural gas boilers over the forecast period. In addition, regional governments are taking several efforts to reduce carbon footprint by launching number of awareness programs for general population is further fostering industry expansion over the coming years.
Natural gas boilers offer several advantages over conventional gas boilers such as cost effectiveness, easy transportation and eco-friendly properties. Rapid urbanization in North America and European region is expected to stimulate current market demand for natural boilers. Booming housing sector and shifting preference towards green housing are further supporting market advancements over the past few years.
Based on end-use application, the natural gas boiler market is divided into two major segments such as residential sector and industrial sector. Residential segment has witnessed major growth since past few years owing to the booming housing sector in U.S. and Canada region. However, industrial use of natural gas boilers is rising each day with stringent laws and regulation to curb greenhouse gas emission. The industrial segment is further divided into multiple sub-segments including chemical industry, refineries and metals & mining industry.
Market Segment:
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (M USD), market share and growth rate of Natural Gas Boilers in these regions, from 2012 to 2023 (forecast), covering
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Columbia)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Global Natural Gas Boilers market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
• Marley-Wylain
• Viessmann Werke GmbH & Co KG
• Worcester Bosch
• HTP
• Lochinvar
• British Gas
• Vaillant
• Lennox
• Bryant Carrier
• Utica Boilers
Based on region, the natural gas boiler market is classified into U.S., Canada, Russia, Switzerland, Italy, France, China, and India. The United States market is anticipated to witness significant CAGR over the forecast period owing to rising demand for natural gas boilers over oil boilers from local consumers. Japan is projected to witness significant growth over the forecast period attributed to increasing production by local companies. In addition, growing concerns regarding air quality and materials used in conventional gas boilers are estimated to fuel regional market growth in the forthcoming years.
The major market players in the natural gas boilers market include Slant/Fin Corp., Robert Bosch GmbH, AC BOILERS S.p.A., HTP Co., Lennox International Inc., The Viessmann Group, ACV LLC, Buderus Ltd., NTI Boilers, Inc., PB Heat LLC, Navien, Inc., Bradford White Corp., and Baxi Ltd.