Combi Boiler Market Segmentation by Technology (Condensing, Non-Condensing, and Others); by Application (Water Heating, Central Heating, and Others); and by End-User (Residential, and Non-Residential) – Global Demand Analysis & Opportunity Outlook 2031

Buy Now Report ID: 3861 | Published Date: Feb 06, 2023

Global Combi Boiler Market Regional Synopsis

On the basis of geographical analysis, the global combi boiler market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness highest growth over the forecast period on the back of increasing adoption of combi boilers in countries, such as, Japan, China, and South Korea. These countries experience cold temperatures, especially during winters, which leads to a high demand for water heaters, as well as, central heaters. As combi heater provides both functions in a single compact unit, its demand is growing in the region, which, in turn, is estimated to boost the market growth. Moreover, the high urban population in developing countries, is further forecasted to fuel the market growth. As per the World Bank data, in Japan, 91.782% of the population lived in urban areas, as of 2020. Besides, the presence of various major market players in the region, is further projected to fuel the market growth.

The market in the North America region is anticipated to gain the largest market share throughout the forecast period on the back of growing demand for efficient heating systems in colder regions, such as, Canada, and the U.S., along with rising environment awareness amongst the people.

Combi Boiler Market Graph

The global combi boiler market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Combi Boiler Market Graph
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Major Macro-Economic Indicators Impacting the Market Growth

Electricity Consumption Graph

In 2019, the world’s total energy supply was 606EJ, wherein the highest share in terms of source was captured by oil, accounting for 30.9%, followed by coal (26.8%), natural gas (23.2%), biofuels and waste (9.4%), nuclear (5.0%), hydro (2.5%), and other (2.2%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 1% due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.

Market Segmentation


Our in-depth analysis of the global combi boiler market includes the following segments:

By Technology

  • Condensing
  • Non-Condensing 
  • Others

By Application

  • Water Heating
  • Central Heating
  • Others

By End-User

  • Residential
  • Non-Residential

Growth Drivers

  • Energy Efficiency and Eco-friendly Nature of Combi Boiler
  • Growing Demand for Energy Efficient Heating Systems
  • Compact Size, and Lower Overall Cost
  • Growing Urban Population Globally


Electricity Consumption Graph
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Top Featured Companies Dominating the Market

    • Bosch Thermotechnik GmbH
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Hoval Corp.
    • Daikin Industries, Ltd.
    • Haier Electronics Group Co., Ltd.
    • Noritz Corporation
    • Rinnai Corp.
    • BDR Thermea Group
    • A.O. Smith Corporation
    • Ferroli S.p.A.
    • Vaillant Group


In The News

  • December, 2021: Daikin to be honored as an Advanced Global Company for its constant climate change measures in CDP’s Climate Change A List.

  • October, 2021: BDR Thermea Group to collaborate with French homebuilders BOOA, to provide them all-inclusive heat pump solutions


Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Author Credits:  Payel Roy, Dhruv Bhatia

Key Questions Answered in the Report

1) What are the major factors driving the growth of the combi boiler market?

Ans: The availability of water heater as well as central heater in a combi boiler is estimated to boost the market growth.

2) What would be the CAGR of combi boiler market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022 – 2031.

3) What are the challenges affecting the combi boiler market growth?

Ans: High competition from alternative sources, and low awareness amongst the people are estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of combi boiler market in future?

Ans: The Asia Pacific region is anticipated to provide more business opportunities over the forecast period owing to the high demand for energy efficient heating systems in the region.

5) Who are the major players dominating the combi boiler market?

Ans: The major players in the market are BDR Thermea Group, A.O. Smith Corporation, Ferroli S.p.A., Vaillant Group, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the combi boiler market?

Ans: The market is segmented by technology, application, end-user, and by region.

8) Which segment captures the largest market size in end-user segment in the combi boiler market?

Ans: The residential segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.

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