The growth in China and South Korea markets has seen the UK dropping from being the largest world market for domestic boilers to the third largest, according to the latest BSRIA market intelligence study.
Driven by environmental policy uptake and increasing gasification in Asia the domestic boiler market grew in 2016 to 12.7 million units. The Chinese market driven by the roll out of the â??coal to gasâ? policy is now the largest global market with over 1.77 million boilers sold in 2016 with further dynamic growth expected until 2021. The Chinese market is so far dominated by wall mounted gas non-condensing boilers that accounted for 87% of the market in 2016.
South Korea has also recorded good growth in 2016 and became the second largest market with over 1.75 million boilers sold, with further positive prospects until 2021. With 76% share, wall-mounted boilers also accounted for the majority of the market, the share of non-condensing units is however lower than in China, with condensing technology advancing continually.
UK, has recorded sales of 1.7 million units in 2016 placing it third in the list of largest markets in 2016. With over 26 million boilers installed, there is a large replacement market where almost 100% of units sold are of gas condensing type.
In 2016, the other countries to record markets of over one million domestic units were Turkey and Russia, while the North American market remains a low consumer of domestic boilers with around 400,000 units sold per annum.