About Domestic Boiler
Domestic boilers are vessels that heat water or other fluids by burning fuel for space heating and other domestic purposes. Condensing and non-condensing boilers are the two main types of domestic boilers. Condensing boilers are gaining popularity, as they use a water-condensing system to recover the waste heat from flue gases. Non-condensing boilers utilize the air from the indoor environment for combustion.
Technavio’s analysts forecast the global domestic boiler market to grow at a CAGR of 6.56% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global domestic boiler market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Domestic Boiler Market 2017-2021
Technavio recognizes the following companies as the key players in the global domestic boiler market: A.O. Smith Water Products, Bosch Thermotechnology, Bryant Heating & Cooling Systems, Immergas, and Viessmann Manufacturing.
Other Prominent Vendors in the market are: Alfa Laval, Beretta International, Carrier, Columbia Boiler Company, Crown Boiler, De Dietrich (DDR Americas), Glow-worm, LAARS Heating Systems, Lennox International, Lochinvar, NTI Boilers, PB Heat (Peerless), Raypak, Remeha, SIME, Slant/Fin, Smith Cast Iron Boilers, Superior Boiler Works, Unical, US Boiler Company, Utica Boilers, Vaillant Group,Velocity Boiler Works, Weil-McLain, and Westinghouse Electric.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing use of smart thermostats. Smart thermostats are gaining popularity in residential as well as commercial spaces. In the commercial sector, these systems find application in small- to medium-sized buildings. These systems are automatically installed with advanced firmware and algorithms, which, along with their learning ability, help in boosting the energy efficiency of buildings while ensuring low installation costs.”
According to the report, one driver in the market is growing demand for smart homes and development of smart cities. Nowadays, consumers wish to experience more comfort and convenience through the use of several electronic devices; as a result, the smart home concept is rapidly becoming popular in many countries worldwide. This smart home concept primarily aims to make life more convenient, comfortable, entertaining, secure, and sustainable. Smart home technologies use advanced sensors to connect household appliances such as boilers, lighting systems, air conditioning units, entertainment systems, security devices, and camera systems.
Further, the report states that one challenge in the market is uncertainties associated with global crude oil prices. Crude oil has historically been one of the most volatile commodities. The primary reason for this is the complex and interwoven value chain and supply chain arrangements, which are a result of the over-dependence of almost all countries on oil. The price of crude has seen several crests and troughs in the past decades. The rise and dip in crude oil prices have ambiguously followed a trend over the past few years, which was later identified as the crude oil price cycle.
A.O. Smith Water Products, Bosch Thermotechnology, Bryant Heating & Cooling Systems, Immergas, Viessmann Manufacturing, Alfa Laval, Beretta International, Carrier, Columbia Boiler Company, Crown Boiler, De Dietrich (DDR Americas), Glow-worm, LAARS Heating Systems, Lennox International, Lochinvar, NTI Boilers, PB Heat (Peerless), Raypak, Remeha, SIME, Slant/Fin, Smith Cast Iron Boilers, Superior Boiler Works, Unical, US Boiler Company, Utica Boilers, Vaillant Group,Velocity Boiler Works, Weil-McLain, and Westinghouse Electric.
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