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Trends in the World Traditional & Renewable Heating Markets
1. Trends in the World Traditional &
Renewable Heating Markets
Krystyna Dawson
Heating & Renewables
Manager
BSRIA WMI
January 2015
2. 2
Excellence in Market Intelligence
Agenda
Worlds largest traditional heating markets
Growth in traditional heating, 2014
US Heating market overview
Water heating markets US and Europe
World renewable markets
Growing importance of controls
2
3. 3
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Radiators
23%
UFH
10%WH
20%
CB
5%
DB
42%
Radiators
0% UFH
4%
WH
71%
CB
3%
DB/Furnaces
22%
World Heating Market Value
by region, 2013
• Europe includes 25 countries: Austria, Belgium , France, Germany , Greece, Italy, Netherlands,
Norway , Spain, Sweden, Switzerland , Turkey, United Kingdom, Belarus, Bulgaria, Czech
Republic, Hungary, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Ukraine
** Domestic boilers in NA doe not include furnaces.
Population (million inhabitants)
USA + Canada Europe Japan China
352 778 127 1,360
3
North America
Total: US$ 9.323 million
Europe*
Total: US$ 15.644 million
Radiators
1% UFH
6%
WH
79%
CB
2%
DB
12%
Japan
Total: US$ 4,333 million
China
Total: US$ 7,258 million
Radiators
16%
UFH
23%WH
48%
CB
4%
DB
9%
4. 4
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World boiler market overview 2013-2017
4
‘000 units
Source: BSRIA
0
200
400
600
800
1000
1200
1400
1600
1800
2013
2014
2017
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Gas
furnaces,
89%
Oil
furnaces,
0%
Electric
furnaces,
9%
US heating market overview 2013-2017
5
Share of heating technologies based on
sales volumes
US furnace market by type of fuel
3% 6%
9%
9%
2% 2%
84%
78%
3%
5%
0
500
1000
1500
2000
2500
3000
3500
4000
2013 2017
CHP
Heat Pumps
Furnaces
FS Commercial
boilers
FS Domestic
heating
Wall hung boilers
000 units
2013
Gas
furnaces
84%
Oil
furnaces
1%
Electric
furnaces
15%
2017
WH gas
boilers
26%
FS gas
boilers
60%
FS oil
boilers
14%
US boiler market by type of fuel
2013
WH gas
boilers
29%
FS gas
boilers
65%
FS oil
boilers
6%
2017
Heat pumps include GS dry distribution HP and hydronic HP
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Increasing
gasification in
China, Russia
and S. Korea
6
Main trends in traditional Heating markets,
2013 - 2014
Importance
Urgency
Move towards
Communal heating
Growing substitution
of boilers by
renewables
in new build
Increasing
penetration
of wall-hung
boilers
Gas-fuelled boilers
dominance grows
Energy efficiency
targets drive sales
of condensing boilers
and water heaters
• Low oil/gas
prices
• Push for
reduction of
CO2 emissions
• Energy
security issues
• Economics
Global Drivers:
7. 7
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World Domestic Boiler
Technology overview
Sales of Condensing units Sales of Non-Condensing units
Thousandunits
Thousandunits
2013 2014 2015 2016 2017
0.0
1,000.0
2,000.0
3,000.0
4,000.0
5,000.0
6,000.0
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
2013 2014 2015 2016 2017
Japan
China
NAmerica
Europe
CAGR
2013-2017
8.5%
CAGR
2013-2017
-7.5%
8. 8
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Europe – Legislation impact on markets
• Increase in Combined & Hybrid
systems
Eco Design
A +++ ≥150%
A ++ ≥125%
A + ≥98%
A ≥90%
B ≥82%
C ≥75%
D ≥36%
E ≥34%
Cogeneration
Gas HP
Condensing
boilers
Non-
condensing
boilers
Ground /Water to
water HP
Air to water HP
From 26/9/2015
products with Label
D to G are no longer
allowed to be sold
• Enhanced Controls
Fuel cell
Labels mandatory from Sep. 2015
8
• Significant shift towards
condensing boilers within the
next three years
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World Water Heating markets
10
Europe
11%
Russia
3% North
America
11%
Brazil
28%India
2%
China
28%
Japan
4%
Saudi
Arabia
3%
Others
10%
World water heating market
Volume, 2013
Includes: GSWH, GIWH, ESWH, EIWH,
STWH, HPWH
Total 98.6 mln units 0.0
5,000.0
10,000.0
15,000.0
20,000.0
25,000.0
30,000.0
Brazil China Europe North America Japan
Electric storage Gas storage Electric instantaneous
Gas instantaneous ST Water Heaters SHW HP
Largest water heating markets by technology, 2013
000 units
11. 11Excellence in Market Intelligence
Water Heating market – Europe
Technology overview
11
European Water Heating market,
by type, 2013
DHW HP sales, units, 2009 - 2018
• Electric storage dominate the market
but their share will decrease.
• The share of renewable WH systems
is set to grow thanks to DHW HP
uptake.
• Condensing WH will become
prevalent from 2018 due to the
legislation.Source: BSRIA, based on market analysis for 19 European countries
ST Water
Heaters
3%
DHW HP
2%
Combi boilers
34%
Electric storage
44%
Gas storage
1%
Electric
instantaneous
8%
Gas
instantaneous
8%
-
50,000
100,000
150,000
200,000
250,000
2009 2010 2011 2012 2013 2014 2015F2016F2017F2018F
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Water Heating market US
Technology overview
Electric
storage WH
43%
Gas storage
47%
Electric
instantaneous
3%
Gas
instantaneous
5%
DHWHP
1%
ST
0%
Combi boilers
1%
US Water Heating market,
by type, 2013
0
50,000
100,000
150,000
2009 2010 2011 2012 2013 2014 2015F 2016F 2017F 2018F
DHW HP sales, units, 2009 - 2018
• Electric storage and gas storage units
dominate the market.
• The share of DHW HP will grow due to
the new DOE efficiency standards.
• Shift to condensing units in gas water
heaters due to the above legislation.
13. 13
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World Renewable Market Value
by region, 2013
* Europe HP, ST & HRV includes 13 countries: Austria, Belgium , France, Germany, Italy,
Netherlands, Spain, Sweden, Switzerland , Turkey, United Kingdom,, Czech Republic, Poland.
Europe CHP / FC & Gas HP includes: France, Germany, Italy, Netherlands, United Kingdom, Poland
13
Europe*
Total: US$ 3,910 mln
USA
Total: US$ 739.6mln
Japan
Total: US$ 1.988 mln
China
Total: US$ 5,160 mln
Geoth.&
hydronic
HP
59%
ST systems
6%
Gas HP
0%
CHP/ Fuel
Cells
10%
Heat
recovery
25% El.
Hydronic
HP
64%
ST
systems
2%
Gas HP
0%
CHP/ Fuel
Cells
32%
Heat
recovery
2%
Electric
Heat
Pump
51%
Solar
Thermal
systems
21%
Gas HP(1)
1%
Micro-
CHP/ Fuel
Cells(2)
6%
Heat
recovery(
3)
22%
El.
Hydronic
HP
20%
ST
systems
71%
Gas HP
0%
CHP/ Fuel
Cells
8%
Heat
recovery
1%
14. 14
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World hydronic Heat Pump Market
by value, 2013
14
Regional market, share by valueTop 10 ranking by country, US$ mln
Total market: US$ 5,303 million
- 500.0 1,000.0 1,500.0 2,000.0
Finland
Italy
Australia
Austria
Switzerland
Sweden
France
Germany
China
Japan
36.6%
53.8%
9.6%
Europe Asia Pacific Americas
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-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
2011 2012 2013 2014 2015 2016 2017
Others
Finland
Italy
Austria
Sweden
Switzerland
UK
France
Germany
Heat pump market
Europe
Total heat pump sales per country in Europe, units, 2011 - 2017
16. 16
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World Solar Thermal Market
by value, 2013
16
Regional market, share by valueTop 10 ranking by country, US$ mln
Total market: 6,024 million US$
73%
20%
4% 2%1%
Asia Pacific
Europe
Americas
India
Africa
- 500.0 1,000.0 1,500.0 2,000.0 2,500.0 3,000.0 3,500.0 4,000.0
Japan
Mexico
Italy
Poland
Turkey
India
Australia
Brazil
Germany
China
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European Solar thermal markets 2012-2014
17
-
500
1,000
1,500
2,000
2,500
2012 2013 2014
Overall
Europe
market value
down by 13%
18. 18
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System integration in family homes in Europe
Will gain
importance
after ErP will
take effect in
2015
Will gain
importance with
increasing
share of RES in
electricity
production
19. 19
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Sales of hydronic controls in Europe, 2013
European Control market outlook
-
5,000.00
10,000.00
15,000.00
20,000.00
25,000.00
30,000.00
35,000.00
40,000.00
2013
2020
‘000 units
CAGR
7%
CAGR
10%
CAGR
5%
TRV,
63%
MRV
,
37%
Includes: UK, Germany, Italy, France, Poland