Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam Market

The global market for central heating boilers, for producing hot water or low pressure steam, is projected to see steady growth in both volume and value over the period from 2022 to 2030. Consumption, production, imports, and exports are analyzed for key countries such as China, India, the United States, and more. Significant fluctuations in pricing and trends in top exporting/importing countries are also highlighted.

Market Forecast

Driven by increasing demand for central heating boilers, for producing hot water or low pressure steam worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +0.9% for the period from 2022 to 2030, which is projected to bring the market volume to 51M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.8% for the period from 2022 to 2030, which is projected to bring the market value to $200.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam

In 2022, global consumption of central heating boilers, for producing hot water or low pressure steam expanded sharply to 48M units, increasing by 6.2% against the previous year. In general, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 8.6%. As a result, consumption attained the peak volume of 48M units. From 2021 to 2022, the growth of the global consumption of remained at a somewhat lower figure.

The value of the market for central heating boilers, for producing hot water or low pressure steam worldwide was estimated at $160B in 2022, growing by 4.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a mild slump. As a result, consumption reached the peak level of $191.1B. From 2014 to 2022, the growth of the global market remained at a somewhat lower figure.

Consumption By Country

China (10M units) constituted the country with the largest volume of consumption of central heating boilers, for producing hot water or low pressure steam, accounting for 22% of total volume. Moreover, consumption of central heating boilers, for producing hot water or low pressure steam in China exceeded the figures recorded by the second-largest consumer, India (4.3M units), twofold. The United States (4M units) ranked third in terms of total consumption with an 8.4% share.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest. In the other countries, the average annual rates were as follows: India (-0.6% per year) and the United States (+2.9% per year).

In value terms, India ($59.3B) led the market, alone. The second position in the ranking was taken by Russia ($26.1B). It was followed by the United States.

In India, the market of central heating boilers, for producing hot water or low pressure steam remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Russia (-4.0% per year) and the United States (+1.7% per year).

The countries with the highest levels of central heating boilers, for producing hot water or low pressure steam per capita consumption in 2022 were the UK (26 units per 1000 persons), Italy (24 units per 1000 persons) and Turkey (18 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of steam, amongst the leading consuming countries, was attained by France (with a CAGR of +5.7%), while steam for the other global leaders experienced more modest paces of growth.

Production

World Production of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam

In 2022, the amount of central heating boilers, for producing hot water or low pressure steam produced worldwide expanded modestly to 50M units, growing by 4.4% on the previous year. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the production volume increased by 11% against the previous year. As a result, production attained the peak volume of 51M units. From 2021 to 2022, global production of growth remained at a somewhat lower figure.

In value terms, production of central heating boilers, for producing hot water or low pressure steam stood at $152.6B in 2022 estimated in export price. Over the period under review, production, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2018 with an increase of 11% against the previous year. Global production peaked at $177.7B in 2013; however, from 2014 to 2022, production remained at a lower figure.

Production By Country

China (10M units) constituted the country with the largest volume of production of central heating boilers, for producing hot water or low pressure steam, accounting for 21% of total volume. Moreover, production of central heating boilers, for producing hot water or low pressure steam in China exceeded the figures recorded by the second-largest producer, India (4.3M units), twofold. The United States (3.7M units) ranked third in terms of total production with a 7.5% share.

In China, production of central heating boilers, for producing hot water or low pressure steam remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (-0.6% per year) and the United States (+2.5% per year).

Imports

World Imports of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam

For the fourth consecutive year, the global market recorded growth in supplies from abroad of central heating boilers, for producing hot water or low pressure steam, which increased by 25% to 7.7M units in 2022. Overall, imports posted a remarkable increase. The pace of growth appeared the most rapid in 2020 when imports increased by 104% against the previous year. Over the period under review, global imports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of central heating boilers, for producing hot water or low pressure steam fell modestly to $5.8B in 2022. The total import value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 25%. As a result, imports reached the peak of $5.9B, leveling off in the following year.

Imports By Country

In 2022, Germany (1.3M units), distantly followed by France (704K units), Italy (600K units), Spain (515K units), Austria (481K units), Romania (467K units) and China (367K units) represented the key importers of central heating boilers, for producing hot water or low pressure steam, together creating 57% of total imports. The following importers - Poland (299K units), Belgium (268K units), the United States (258K units), Kazakhstan (211K units), Slovakia (195K units) and Uzbekistan (175K units) - together made up 18% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Uzbekistan (with a CAGR of +34.9%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($1B) constitutes the largest market for imported central heating boilers, for producing hot water or low pressure steam worldwide, comprising 18% of global imports. The second position in the ranking was taken by Italy ($452M), with a 7.8% share of global imports. It was followed by France, with a 7.2% share.

In Germany, imports of central heating boilers, for producing hot water or low pressure steam increased at an average annual rate of +6.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Italy (+3.7% per year) and France (+1.5% per year).

Import Prices By Country

In 2022, the average import price for central heating boilers, for producing hot water or low pressure steam amounted to $754 per unit, falling by -20.6% against the previous year. In general, the import price faced a abrupt decrease. The most prominent rate of growth was recorded in 2018 an increase of 10%. Global import price peaked at $2,754 per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($1,451 per unit), while Uzbekistan ($265 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.5%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam

For the third consecutive year, the global market recorded growth in shipments abroad of central heating boilers, for producing hot water or low pressure steam, which increased by 9.5% to 9.9M units in 2022. Over the period under review, exports showed a prominent expansion. The pace of growth was the most pronounced in 2020 with an increase of 92% against the previous year. The global exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, exports of central heating boilers, for producing hot water or low pressure steam reduced to $6.2B in 2022. The total export value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 27% against the previous year. As a result, the exports reached the peak of $6.3B, leveling off in the following year.

Exports By Country

Austria (1,488K units), Italy (1,192K units), Germany (1,122K units), the Netherlands (1,018K units), Slovakia (733K units), Turkey (732K units), Poland (557K units), China (454K units), Ireland (362K units), Hungary (307K units), France (258K units) and South Korea (244K units) represented roughly 85% of total exports in 2022.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Hungary (with a CAGR of +28.8%), while the other global leaders experienced more modest paces of growth.

In value terms, Austria ($1.1B), Germany ($1.1B) and Italy ($706M) constituted the countries with the highest levels of exports in 2022, together comprising 45% of global exports.

Among the main exporting countries, Austria, with a CAGR of +8.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average export price for central heating boilers, for producing hot water or low pressure steam amounted to $630 per unit, waning by -9.5% against the previous year. Overall, the export price showed a abrupt downturn. The pace of growth was the most pronounced in 2013 when the average export price increased by 29% against the previous year. As a result, the export price attained the peak level of $1,972 per unit. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($937 per unit), while Ireland ($184 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-2.5%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform