Boiler Market In Europe Set To See An Increase

According to data, the boiler market in Europe is expected to surpass $12 billion by 2024. The professional companies in the industry like Heatworks are also in agreement because of the increase in demand for installation. The growth in the industry will be fueled by the rise in the amount of fund going towards the remodeling of existing buildings as well as the rise in the demand of heating systems that are energy efficient. The industry is going to experience a positive outlook because of the new standards which are expected to be introduced in order to develop the heating systems in the market. These standards aim to help reduce the amount of greenhouse gases that is released into the environment.

In fact, the European Union has already introduced a number of directives such as the Energy Performance of Building Directive intended to limit the emissions of GHG, the Renewable Energy Directive, the Energy Efficiency Directive and the Energy Labelling &Ecodesign.

The boiler market in Austria two years ago has recorded 95 thousand units installed for that specific year. The growth in the industry will be due to the higher investment and interest in the construction department together with the rise in the status of the economy. The European Commission revealed in 2014 that the country has already reached more than 47,000 new establishments intended for residential use.

The boiler market in Europe will grow because of the demand and the changing outlook of consumers to turn to renewable technology alternative. Top companies that are selling boilers have already launched new products in the market equipped with smart control system to make sure that the system will be more efficient and to lessen the loss of fuel. The standard for efficiency is quite strict therefore, they are introducing condensing boilers with high level of efficiency all over the region.

Commercial boilers are expected to increase by 2.5 per cent because of the number of renovations of buildings and establishments to cater to new commercial facilities. These businesses, according to Heatworks, must also comply with the mandate of the EU to lessen their contribution in the level of carbon emission in the atmosphere.

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