Condensing residential boiler use grows across Europe
The changing focus of the European nations towards developing greener, energy-efficient heating solutions has supported the demand for advanced residential boiler technology across the region. Over the last few years, in line with the increasing concerns regarding emissions from boilers affecting the ecosystem, the European Commission has undertaken the decision to optimize the sustainability of residential boilers.
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According to a report by EU Commission, the use of energy-efficient water and space heaters may save nearly 600 TWh of energy each year, avoiding emission of 135 tons of carbon dioxide. Consequently, the development of energy-efficient heating variants will help reduce the energy bills across the continent.
The improvement in disposable income among people in Europe has supported the construction of modern homes that are equipped with sustainable equipment to ensure low CO2 emission levels and reduce the overall cost of maintenance. It is estimated that on an average in the European Union in the year 2019, nearly 20% of the disposable income was dedicated towards housing costs.
According to a study, Europe residential boiler market size could reach an annual value of USD 6 billion by 2024. It is also worth mentioning that the regional governments have executed public awareness programs to educate people regarding the selection of superior performance and clean boiler technology to ensure energy renovation and make the buildings more effective.
Sustainability efforts by residential boiler manufacturers
In accordance with the growing importance of clean and efficient boiler solutions, the regional market players have also been working on developing eco-friendly designs for air heating devices and electricity generation solutions. Residential boiler manufacturers are joining hands with other companies or institutions to support the adoption of green energy and together take a step towards reducing carbon emission levels.
In April 2021, Germany-based residential boiler maker Viessmann entered into a partnership with the Priva Group, a Netherlands-headquartered climate and process control technology firm that operates in city farming, and utility buildings. Through the partnership, the companies are seeking to explore opportunities to offer tech-driven solutions that meet the energy requirements of the users and offer sustainability.
Other prominent market players include Bosch, Ferroli, Ariston, Hoval, Daikin, and BDR, to name a few.
High adoption of condensing residential boilers
Condensing residential boilers that are fueled by oil or gas have gained considerable demand over the years. Strict rules to control the carbon emission levels from residential establishments along with the awareness towards energy efficiency will support their deployment.
Constant investments in the construction industry in Europe have supplemented the development of condensing residential boilers. A report by the EU Commission states that the European construction industry contributes nearly 9% to the overall regional GDP, indicating the tremendous potential for installation of boilers across the coming decade.
Natural gas-fired residential boilers offer a variety of benefits that include cost-efficiency, sustainability, and compact design. Moreover, easier access to fuel during extreme climatic conditions has supported the equipment use. Many European nations are investing in the expansion of gas pipelines keeping in view the rising demand for heat from the residential sector.
During June 2021, Russia announced the completion of a gas pipeline network — Nord Stream 2 which is expected to pump gas from Russia to Germany through the Baltic Sea. Such efforts to increase the availability of gas will support the adoption of gas-fired residential boilers across Europe.
It is crucial to mention that with the rising importance of energy efficiency along with the increasing replacement of old energy generation equipment, Europe residential boiler industry has been witnessing considerable growth over the years. The enforcement of several directives and regulations to reduce carbon emission levels will positively influence the demand for the equipment. Moreover, with the support of subsidized energy utilities, European masses are slated to use novel residential boiler technologies on a larger scale.
