Gas Fired Boiler Market Research Report By Fuel Source (Natural Gas, Liquefied Petroleum Gas (LPG), Biogas), By Application (Residential, Commercial, Industrial), By Capacity (Up to 100,000 Btu/hr, 100,000 to 500,000 Btu/hr, Over 500,000 Btu/hr), By Efficiency (Up to 80%, 80% to 90%, Over 90%), By Technology (Non-Condensing, Condensing, High-Efficiency Condensing) and By Regional (North America, Europe, South America, Asia-Pacific, Middle East and Africa) - Forecast to 2032

Gas Fired Boiler Market Overview

As per MRFR analysis, the Gas-Fired Boiler Market Size was estimated at 40.18 (USD Billion) in 2022. The Gas-Fired Boiler Market Industry is expected to grow from 41.84 (USD Billion) in 2023 to 60.2 (USD Billion) by 2032. The Gas-Fired Boiler Market CAGR (growth rate) is expected to be around 4.12% during the forecast period (2024 - 2032).

Key Gas-Fired Boiler Market Trends Highlighted

Gas gas-fired boilers market will be significantly driven by the high energy prices, concerns about the environment and the need for energy-efficient and cheaper heating systems. There are ample chances of sealing the growing market share dedicated towards industrial and commercial use, especially in the south east countries.

Present-day innovations involve systems of condensing and an increase in efficiency via the implementation of smart controls for remote activity. There is also a general movement in the market towards the installation of low-NOx burners in most burners to conform to environmental policies while canceling greenhouse gas emissions. There are new development trends, such as ultralow NOx burner and hybrid boiler systems, that will contribute to the market expansion in the years to come.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Gas-Fired Boiler Market Drivers

Increasing Demand for Energy-Efficient Solutions

In the Global Gas-Fired Boiler Market Industry, one of the primary drivers of growth is the increased demand for energy-efficient solutions. To reduce carbon emissions and promote environmentally sustainable practices, governments worldwide are increasingly implementing stringent regulations. Consequently, gas-fired boilers are increasingly in demand as part of these regulations, as overall energy consumption is greatly reduced due to the enhanced efficiency of these heating systems compared to other alternatives, reducing operating costs. Moreover, available on the market are ultra-high-efficiency gas-fired boilers.

Growing Adoption in Industrial and Commercial Sectors

The growing adoption of gas-fired boilers in industrial and commercial sectors is another key driver of market growth. Gas-fired boilers offer several advantages for industrial applications, such as high-temperature capabilities, precise temperature control, and reliability. They are widely used in various industries, including food processing, pharmaceuticals, textiles, and metalworking. In the commercial sector, gas-fired boilers are popular for heating large buildings, such as offices, hospitals, and shopping malls.The increasing demand for reliable and efficient heating solutions in these sectors is expected to continue to fuel market growth.

Government Incentives and Support

Government incentives and support programs are also contributing to the growth of the Global Gas-Fired Boiler Market Industry. Governments in many countries offer tax breaks, rebates, and other incentives to encourage businesses and consumers to adopt energy-efficient technologies. These incentives make gas-fired boilers more affordable and attractive, further driving market demand. Additionally, government regulations and policies aimed at reducing carbon emissions and promoting clean energy sources are creating a favorable environment for the adoption of gas-fired boilers.

Gas-Fired Boiler Market Segment Insights

Gas-Fired Boiler Market Fuel Source Insights

The Global Gas-Fired Boiler Market is segmented based on fuel source into natural gas, liquefied petroleum gas (LPG), and biogas. Natural gas is the most commonly used fuel source for gas-fired boilers, accounting for over 80% of the global market share. This is due to its abundant availability, relatively low cost, and clean-burning properties. Liquefied petroleum gas (LPG) is a popular fuel source for gas-fired boilers in regions where natural gas is not readily available. LPG is a versatile fuel that can be used in both residential and commercial applications.Biogas is a renewable fuel source that is produced from the anaerobic digestion of organic matter. The market growth is attributed to the increasing demand for energy-efficient and environmentally friendly heating solutions. Government regulations and incentives promoting the adoption of renewable energy sources are also driving the growth of the Gas-Fired Boiler Market. The Asia-Pacific region is expected to witness the highest growth in the Global Gas-Fired Boiler Market during the forecast period. This growth is attributed to the increasing demand for energy-efficient heating solutions in emerging economies such as China and India.The North American and European regions are also expected to experience significant growth in the Gas-Fired Boiler Market, driven by the increasing demand for environmentally friendly heating solutions and government regulations promoting the adoption of renewable energy sources.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Gas-Fired Boiler Market Application Insights

The Global Gas-Fired Boiler Market is categorized on the basis of application into residential, commercial and industrial. The industrial segment is projected to be the leading market across the globe in the forecast period. Growth in power generation, manufacturing, and the construction of food processing units is propelling the adoption of gas-fired boilers among different industrial verticals. The commercial segment is also anticipated to grow significantly, which can be attributed to the surge in the installation of heating systems in newly constructed commercial buildings.The residential segment will also grow at a decent rate of growth, as homeowners are adopting eco-friendly and cost-effective yet efficient heating solutions. The market revenue of gas-fired boilers is anticipated to be about USD 45.61 billion in 2024. The Global Gas-Fired Boiler Market will register a CAGR of 4.5% in the forecast period from 2024 to 2032.

Gas-Fired Boiler Market Capacity Insights

The capacity segment is a crucial aspect of the Global Gas-Fired Boiler Market segmentation. It categorizes the market based on the heat output capacity of gas-fired boilers. The three main capacity segments are Up to 100,000 Btu/hr: Small-capacity boilers suitable for residential and light commercial applications. This segment accounted for approximately 30% of the Global Gas-Fired Boiler Market revenue in 2023 and is expected to witness steady growth due to increasing demand for energy-efficient heating solutions in residential buildings. 100,000 to 500,000 Btu/hr: Medium-capacity boilers commonly used in commercial and industrial facilities.This segment held a significant share of the market in 2023 and is projected to grow steadily as industries seek efficient heating systems. Over 500,000 Btu/hr: High-capacity boilers primarily employed in large-scale industrial processes and power generation plants. This segment is expected to experience moderate growth in the coming years, driven by increasing demand for reliable and efficient heating solutions in heavy industries. The capacity segment provides valuable insights into the diverse applications of gas-fired boilers across various industries.By understanding the specific requirements and preferences of different end-users, manufacturers can tailor their product offerings and marketing strategies accordingly, contributing to the overall growth of the Global Gas-Fired Boiler Market.

Gas-Fired Boiler Market Efficiency Insights

The Global Gas-Fired Boiler Market segmentation by Efficiency includes Up to 80%, 80% to 90%, and Over 90%. The Over 90% segment is expected to have the highest market share in 2023, accounting for around 45% of the Global Gas-Fired Boiler Market revenue. This segment is driven by the increasing demand for high-efficiency boilers in commercial and industrial applications. The 80% to 90% segment is expected to register a CAGR of 4.5% during the forecast period, owing to the rising demand for energy-efficient boilers in residential and small commercial applications.The Up to 80% segment is expected to have a steady growth rate, as these boilers are still widely used in older buildings and small residential applications.

Gas-Fired Boiler Market Technology Insights

The market growth is attributed to the increasing demand for energy-efficient heating solutions, stringent government regulations on emissions, and rising industrialization. The technology segment of the Gas-Fired Boiler Market is categorized into non-condensing, condensing, and high-efficiency condensing boilers. Non-condensing boilers are conventional boilers that do not utilize the latent heat of water vapor, resulting in lower efficiency compared to condensing boilers. Condensing boilers, on the other hand, capture and reuse the latent heat of water vapor, leading to improved efficiency and reduced energy consumption.High-efficiency condensing boilers are advanced condensing boilers that incorporate additional features such as modulating burners and flue gas heat recovery systems, resulting in even higher efficiency and lower operating costs. In 2023, the condensing technology segment held the largest share of the Global Gas-Fired Boiler Market, accounting for over 50% of the revenue. The growing awareness of energy efficiency and environmental concerns is driving the adoption of condensing boilers. High-efficiency condensing boilers are projected to witness the highest growth rate during the forecast period, owing to their superior efficiency and cost-effectiveness.

Gas-Fired Boiler Market Regional Insights

The regional segmentation of the Global Gas-Fired Boiler Market offers valuable insights into the market's geographical distribution and growth patterns. North America is projected to account for a significant share of the market revenue in 2024, driven by the increasing adoption of gas-fired boilers in the industrial and commercial sectors. Europe is expected to follow closely, with a growing demand for energy-efficient heating solutions. The Asia-Pacific (APAC) region is anticipated to witness substantial market growth due to rapid industrialization and urbanization.South America and the Middle East and Africa (MEA) regions are also expected to contribute to the overall market growth, albeit at a slower pace compared to the other regions.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Gas-Fired Boiler Market Key Players And Competitive Insights:

Major players in the Gas-Fired Boiler Market are continuously investing in research and development to launch innovative products and expand their global footprint. The Gas-Fired Boiler Market industry is highly fragmented, with numerous regional and local players catering to specific market segments. Leading Gas-Fired Boiler Market players are focusing on strategic partnerships, acquisitions, and mergers to expand their product portfolio and geographical reach. The Gas-Fired Boiler Market development is driven by increasing demand for energy-efficient and cost-effective heating solutions, particularly in the industrial and commercial sectors. The competitive landscape of the Gas-Fired Boiler Market is expected to remain dynamic, with new entrants and established players vying for market share.A leading company in the Gas-Fired Boiler Market industry is Viessmann. Headquartered in Germany, Viessmann is a global manufacturer of heating, cooling, and ventilation systems. The company offers a wide range of gas-fired boilers, including condensing boilers, cast iron boilers, and stainless steel boilers. Viessmann's boilers are known for their high efficiency, reliability, and durability. The company has a strong presence in Europe, North America, and Asia, and it continues to expand its global footprint through acquisitions and partnerships.A prominent competitor in the Gas-Fired Boiler Market is Siemens. Headquartered in Germany, Siemens is a global technology conglomerate that offers a wide range of products and services, including gas-fired boilers. Siemens' boilers are designed for use in industrial, commercial, and residential applications. The company's boilers are known for their high efficiency, reliability, and low emissions. Siemens has a strong presence in Europe, North America, and Asia, and it continues to expand its global footprint through acquisitions and partnerships.

Key Companies in the Gas-Fired Boiler Market Include

• Mitsubishi Heavy Industries


• Babcock Wilcox


• Rinnai


• Hurst Boiler Welding Company


• Clayton Industries


• Kiturami


• Siemens


• Alfa Laval


• Thermax


• Lochinvar


• Bosch Thermotechnology


• Viessmann


• O. Smith


• Burnham Holdings


• General Electric

Gas-Fired Boiler Market Industry Developments

The Global Gas-Fired Boiler Market is projected to reach USD 60.2 billion by 2032, exhibiting a CAGR of 4.12% during the forecast period. The market growth is attributed to rising industrialization, increasing demand for electricity, and stringent emission regulations. Growing investments in infrastructure development, particularly in emerging economies, are further fueling market expansion. Recent developments include the adoption of energy-efficient technologies, such as condensing boilers and combined heat and power (CHP) systems, to reduce operating costs and environmental impact. Moreover, government initiatives and incentives aimed at promoting renewable energy sources are expected to drive the adoption of gas-fired boilers as a transitional fuel.

Gas-Fired Boiler Market Segmentation Insights

Gas-Fired Boiler Market Fuel Source Outlook

• Natural Gas


• Liquefied Petroleum Gas (LPG)


• Biogas

Gas-Fired Boiler Market Application Outlook

• Residential


• Commercial


• Industrial

Gas-Fired Boiler Market Capacity Outlook

• Up to 100,000 Btu/hr


• 100,000 to 500,000 Btu/hr


• Over 500,000 Btu/hr

Gas-Fired Boiler Market Efficiency Outlook

• Up to 80%


• 80% to 90%


• Over 90%

Gas-Fired Boiler Market Technology Outlook

• Non-Condensing


• Condensing


• High-Efficiency Condensing

Gas-Fired Boiler Market Regional Outlook

• North America


• Europe


• South America


• Asia-Pacific


• Middle East and Africa