Global Combi Boilers Market: Overview
A combi
boilers is a combination of a highly efficient water heater and a central
heating boiler within one compact unit. A combi boilers offers combined
functions of a water heater and a central heating boiler to condense surplus
energy that would otherwise have been wasted in the atmosphere. It send the
energy back to the central heating system. A combi boilers is typically over
90% efficient and thus, it is eco-friendly, as it reduces the carbon footprint.
A combi boilers has a flue gas heat recovery system. During the operation of
any boiler, flue gases are inevitably formed. The combi boilers recycles the
heat from these flue gases and uses it to pre-heat the freshwater as it enters
the boiler from mains. This means that the boiler does not need to work hard to
heat the water and hence, it requires less energy. The combi boilers also has a
condensing pipe which enables the condensed vapor to drain away while the
boiler is working.
Global Combi Boilers Market: Drivers & Restrains
Key
factors driving the demand for combi boilers include an effective heating
system that costs less; space saving (as there is no need for additional bulky
kits like a hot water cylinder or cold tanks); compact size; and enhanced
efficiency. As a result, combi boilers are rapidly becoming a preferred heating
system across the world, for example, newly built homes in the U.K. have 50% of
new boiler installations. Also, stringent government norms pertaining to
greenhouse gas (GHG) emissions, primarily across residential establishments,
are expected to drive the global market during the forecast period. Respective
governments, in collaboration with the EU, have introduced numerous efficiency
norms to limit GHG emissions. For instance, the Energy-related Products
Directive, introduced in 2009 by the EU, aims at minimizing CO2 emissions and primary
energy consumption while promoting the installation of efficient space- and
water-heating technologies. Growing urbanization and rising demand for
effective heating systems are likely to drive the global
combi boilers market during the forecast period. Rising urban
population led by internal and external migrations has resulted in increased
investment in expansion of residential establishments. As per estimates made by
the World Bank in 2015, Japan has 94% of urbanized population. As per the UN
Department of Economic & Social Affairs, urban population in South Korea is
set to exceed the mark of 19 million by 2050, accounting for over 70% for the
country’s total population. The rising demand for retrofitting existing
residential establishments and presence of developing economies in Asia Pacific
are likely to promote growth of the combi boilers market in the near future.
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Global Combi Boilers Market: Key Segments
Based on
technology, the combi boilers market can be segmented into condensing boilers
and non-condensing boilers. Condensing boilers use the heat from flue gases by
using heat exchangers. The trapped heat is supplied to the cold water central
heating system, which results in improved efficiency. Minimal environmental
impact and high system efficiency are likely to augment the demand for
condensing combi boilers during the forecast period. In terms of fuel type, the
market for combi boilers can be divided into gas oil, and LPG. The gas
segment of the combi boilers market is set to witness growth from 2018 to 2026,
due to low cost, competitive fuel prices, ease of storage, and availability of
a robust gas supply network across developed economies. Ongoing shift toward
adoption of sustainable technologies and harmonization of product prices across
the globe are some the underlying factors which have resulted in escalated
product demand in recent years.
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Global Combi Boilers Market: Regional Outlook
Among
regions, Europe dominated the global market for combi boilers in 2017. In the
U.K., combi boilers are used in a majority of new boiler installations due to
their high efficiency and compact size. In 2017, Germany held more than 10%
share of the Europe combi boilers market, led by initiatives to harness
sustainable technologies. With rising investments in residential buildings, the
combi boilers market in Germany is likely to witness significant growth in the
next few years. In 2015, the government of France enacted the ‘Energy Transition
for Green Growth Law’ aimed to reduce the energy consumption in numerous
sectors. Owing to factors such as policy initiatives to control CO2 emissions and
retrofitting of residential buildings, the combi boilers market in France is
expected to witness significant growth in the near future.
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Global Combi Boilers Market: Key Players
Prominent
players operating in the global combi boilers market are Fondital, Daikin,
Vaillant Group, Hoval, A. O. Smith Corporation, Viessmann, BDR Thermea Group,
Ferroli, and HTP.
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