Last edited 13 Jul 2018

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Global boiler market

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[edit] 2017 market

Driven by environmental policies uptake and increasing gasification in Asia Pacific, the domestic boiler market grew in 2017 to 15 million units, with China recording the most 'dynamic market uptake'.

Socrates Christidis, Senior Market Intelligence Analyst, BSRIA’s World Market Intelligence Division, said:

“The Chinese market, driven by the accelerated effect of the ‘coal to gas’ policy, is now by far the largest global market with over 4.6 million boilers sold in 2017. The Chinese market is dominated by wall mounted gas non-condensing boilers that accounted for 90% of the market in 2017.

"However, despite South Korea recording a moderate decline in 2017, it is now the second largest market with just under 1.7 million boilers sold. With an 86% share, wall-mounted boilers also accounted for the majority of the market, the 57% share of non-condensing units is lower than in China.

"The boiler market in South Korea is quite mature; further positive prospects until 2022 are based on replacement with condensing technology but are also limited due to the low growth rate of population, residential construction market and economy.”

UK has recorded sales of 1.6 million units in 2017 remaining in third position in the list of largest markets in 2017. With over 26 million boilers installed, there is a large replacement market where almost 100% of units sold are of gas condensing type.

In 2017, the other countries to record markets of over one million domestic units were Turkey and Russia, while the North American market remains a low consumer of domestic boilers with around 400,000 units sold per annum.

In the commercial boiler market China is again the largest market with just over 109,100 units sold in 2017, with the North American (55,500) market being the second and Turkey (50,100) the third largest market.

While China is expected to post a fair growth of 5% in the next five years, higher growth rates of between 5.8% and 6.8% are expected in North America, Turkey and Russia. European commercial boiler markets are more under pressure with under 150 kW wall-mounted boilers more likely to grow.

[edit] 2016 market

Driven by environmental policy uptake and increasing gasification in Asia the domestic boiler market grew in 2016 to 12.7 million units, with China recording the most dynamic market uptake.

The growth in the China and South Korea markets resulted in the UK no longer being the largest world market for domestic boilers, now just the third largest according to the latest BSRIA market intelligence study published in July 2017.

The Chinese market, driven by the roll out of the 'coal to gas' policy, is now the largest global market with more than 1.77 million boilers sold in 2016 and further dynamic growth expected until 2021. The Chinese market is dominated by wall mounted gas non-condensing boilers, which accounted for 87% of the market in 2016.

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[Graph: Yearly sales of domestic boilers by country - CAGR 2016 in EU: -1%, CAGR 2020 outside EU: 17%.]

South Korea also recorded good growth in 2016, becoming the second largest market with more than 1.75 million boilers sold, and further growth prospects until 2021. With a 76% share, wall-mounted boilers accounted for the majority of the market. The share of non-condensing units is however lower than in China, with condensing technology advancing continually.

The UK recorded sales of 1.7 million units in 2016, placing it third in the list of largest markets in 2016. With more than 26 million boilers installed, there is a large replacement market, in which almost 100% of units sold are of the gas condensing type.

The other countries with markets of more than 1 million domestic units were Turkey and Russia, whilst the North American market remains a low consumer of domestic boilers with around 400,000 units sold a year.

In the commercial boiler market China is again the largest market with more than 92,500 units sold in 2016, with the North American market was the second largest and Turkey the third largest market. While China is expected to post a fair growth of over 2% in the next few years, the highest growth rate (6.6%) is expected in Russia.

European commercial boiler markets are under pressure with floor standing boilers experiencing particular difficulties.


This article was originally published here in July 2017 and here in July 2018 by BSRIA.

--BSRIA

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