Gas Fired Boiler Market

Gas Fired Boiler Market Size by Capacity (≤ 10 MMBtu/hr, > 10 - 50 MMBtu/hr, > 50 - 100 MMBtu/hr, > 100 - 250 MMBtu/hr, > 250 MMBtu/hr), Application (Residential, Industrial, Commercial), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13977
  • Published Date: Jan, 2024
  • Pages: 237
  • Category: Energy & Power
  • Format: PDF
Buy @ $4700.00 Request Sample PDF

The global gas fired boiler market was valued at USD 49.53 Billion in 2022, which is anticipated to grow at a CAGR of 9.37% from 2023 to 2032. The corporate environment will be further improved by the widespread implementation of energy-efficient space and water heating systems in addition to the replacement of traditional heating units.

Market Introduction:

With natural gas as fuel, the gas-fired boiler market is expanding and offers effective heating options. These boilers' low carbon emissions and affordability make them popular in the commercial, industrial, and residential domains. Gas-fired boilers have become more and more popular due to the growing need for energy-efficient technology and environmentally friendly heating options. Technological developments and government programmes encouraging the use of clean energy are propelling market expansion. The market has bright futures as long as manufacturers continue to innovate new products that increase efficiency and lessen environmental effect, which will help them fulfil the growing demand for sustainable heating solutions around the world. The industry that deals with the manufacture, distribution, and use of natural gas-powered boilers for heating purposes is known as the "Gas Fired Boiler Market." Because they offer a dependable supply of steam and hot water, these boilers are essential parts of many different industries, including commercial, industrial, and residential. Due to its effectiveness and comparatively smaller environmental effect when compared to some other fuels, gas-fired boilers have become more and more popular as the go-to option for heating systems throughout the world. The market offers a wide variety of boiler types, including non-condensing and condensing boilers, to meet the individual requirements of end customers. The increased focus on sustainable heating solutions, energy efficiency, and strict environmental restrictions are some of the factors driving demand for gas-fired boilers. A strong growth trajectory characterises the gas fired boiler market, which is mostly driven by rising public awareness of environmental sustainability and energy efficiency. In an effort to reduce their carbon footprint, homes and businesses are turning more and more to gas-fired boilers as governments around the world impose tougher emissions regulations. Innovations in technology are driving the market's expansion by improving the performance and efficiency of gas-fired boilers. Additionally, it is projected that the industry will rise as a result of the increased focus on renewable natural gas as a cleaner fuel source. Due to a combination of factors including regulatory pressures, environmental concerns, and technological advancements targeted at maximising energy consumption in heating applications, the gas fired boiler market is expected to rise steadily in the coming years.

Gas Fired Boiler Market Size

Get an overview of this study by requesting a free sample

Recent Development
  • VISSEMANN introduced the Vitodens boiler series in November 2022, featuring a 35 kW higher output. With a modulation range of 1:10 for improved seasonal efficiency, the new addition offers a Domestic Hot Water (DHW) output ranging from 2.9 kW to 35 kW and a Heating output ranging from 3.2 to 32 kW. Since the latest models are Wi-Fi enabled, the homeowner has complete control over the heating system.
  • Hurst Boiler & Welding introduced the EGO series tri-fuel boilers in January 2022. To generate the required horsepower, the EGO series can use a burner to generate power from gas or oil, or it can use a set of resistive electric elements to generate electricity. These boilers also have characteristics like a stack master economizer to increase efficiency and lower greenhouse gas emissions, a smaller footprint with larger water and steam volumes, and a design for high steam pressure.

Market Dynamics:


Increasing demand for efficient heating solutionsThe growing need for cost-effective heating solutions in the commercial, residential, and industrial domains is driving the market for gas-fired boilers. The industry is being driven by strict environmental rules that encourage the use of greener energy sources and boiler technological developments. The growing popularity of gas-fired boilers is being driven by the increased emphasis on energy efficiency and the shift to sustainable practices. The industry is also driven by the increased focus on lowering greenhouse gas emissions and the transition to greener, more ecologically friendly heating solutions.


High initial installation costsAlthough the market for gas-fired boilers is growing, there are still some limitations. The high upfront installation costs and reliance on natural gas prices may be obstacles to industry growth. Tight laws and regulations pertaining to emissions could potentially impede the expansion of the market. Furthermore, there is competition from the growing popularity of alternative heating options like electric boilers and renewable energy sources. Key competitors in the industry compete fiercely, which is seen in their innovative product creation, strategic alliances, and mergers and acquisitions. In order to remain competitive in the gas-fired boiler industry, businesses must prioritise technical developments, cost-effective solutions, and sustainable practices among this ever-changing landscape.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global gas fired boiler market, with a 34.48% market revenue share in 2022. The North American market for gas-fired boilers is anticipated to expand at a respectable rate because of the favourable climate that has encouraged the development of water heating equipment sales. The market for gas-fired boilers will be stimulated by the continuous investment in modernising industrial facilities and the rebounding economy. Rising disposable income and shifting consumer preferences towards processed foods will drive product demand in the food processing industry.

North America Region Gas Fired Boiler Market Share in 2022 - 34.48%

Check the geographical analysis of this market by requesting a free sample

Capacity Segment Analysis

The capacity segment is divided into ≤ 10 MMBtu/hr, > 10 - 50 MMBtu/hr, > 50 - 100 MMBtu/hr, > 100 - 250 MMBtu/hr, and > 250 MMBtu/hr. The ≤ 10 MMBtu/hr segment dominated the market, with a market share of around 22.74% in 2022. The industry's advancement will be favourably impacted by growing consumer awareness of environmental impact and the introduction of stronger environmental rules to encourage the use of dependable and efficient heating systems.

Application Segment Analysis

The application segment is divided into residential, industrial, and commercial. The residential segment dominated the market, with a market share of around 35.37% in 2022. The market potential will be favourably impacted by the growing need for energy-efficient heating systems and the growing emphasis on energy conservation. The market for gas fuelled boilers is expected to develop as a result of legislation encouraging the adoption of efficient boilers and the replacement of outdated heating systems.

Some of the Key Market Players:
  • Fulton Boiler Works
  • Thermax
  • Hurst Boiler and Welding
  • Thermodyne Engineering Systems
  • Bosch Industriekessel Gmbh
  • Babcock & Wilcox
  • Alfa Laval AB
  • Bradford White Corporation
  • General Electric
  • Forbes Marshall
  • Thyssenkrupp AG

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 49.53 Billion
Market size value in 2032 USD 121.29 Billion
CAGR (2023 to 2032) 9.37%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Capacity, Application

Frequesntly Asked Questions

As per The Brainy Insights, the size of the gas fired boiler market was valued at USD 49.53 Billion in 2022 & USD 121.29 Billion by 2032.

Global gas fired boiler market is growing at a CAGR of 9.37% during the forecast period 2023-2032.

North America region emerged as the largest market for the gas fired boiler.

Increasing demand for efficient heating solutions is a significant driving factor for the growth of the gas fired boiler market.

High initial installation cost is a significant restraining factor for the growth of the gas fired boiler market.

Request Table of Content


This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global gas fired boiler market based on below mentioned segments:

Global Gas Fired Boiler by Capacity:

  • ≤ 10 MMBtu/hr
  • > 10 - 50 MMBtu/hr
  • > 50 - 100 MMBtu/hr
  • > 100 - 250 MMBtu/hr
  • > 250 MMBtu/hr

Global Gas Fired Boiler by Application:

  • Residential
  • Industrial
  • Commercial

Global Gas Fired Boiler by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa


Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:


Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

Some Facts About The Brainy Insights


Free Customization


Fortune 500 Clients


Free Yearly Update On Purchase Of Multi/Corporate License


Companies Served Till Date