Market development – overall market
Global market for thermotechnology products in 2006
The global market for thermotechnology products expanded at a moderately higher rate again in 2006. The sales volume reached 24.4 billion euros, up 4 % on the previous year.
Growth was mainly driven by condensing boilers and systems using renewable energy sources, which both increased at double-digit rates. Global sales of traditional heating systems totaled 11.9 billion euros, which represents just under 50 % of total sales in the thermotechnology market. While conventional boilers have declined, they still represent the largest market segment among the traditional heating systems, followed by condensing boilers and hot air heating systems. Hot water solutions accounted for 9.1 billion euros or 37 % of the total market.
The remaining 14 % or 3.4 billion euros were accounted for by systems using renewable energy sources, i.e. electric heat pumps, solar collectors and solid fuel boilers.
Momentum in the market for thermotechnology products differed across the individual regions. All of the three large continental markets shared a clear trend towards increased use of renewable energy sources.
Growing by approx. 6 %, the European market passed the
11 billion euro mark for the first time in 2006. The European market was mainly characterized by the ongoing change from conventional to condensing technology and the surge in investments in systems using renewable energy sources.
A much higher number of heat pumps, solar collectors and solid fuel boilers was sold in Europe, with sales of these products reaching 1.8 billion euros. This represents an increase of over 30 % and a 16 % share in the total European market.
Traditional heating systems – oil and gas heating systems and water-based heat distribution, which are dominant in Europe –
were again the most important sources of sales in the European thermotechnology market and accounted for 59 % of the total market volume.
At 6.1 billion euros, the North and South American market for thermotechnology products was up 2 % on the previous year.
The North American market continues to be dominated by hot air heating systems, which represent 66 % of the sales volume of traditional heating systems. The market for electric heat pumps continued to grow in the past year, reaching a sales volume of 343 million euros. U.S. demand for gas water heaters also picked up further in 2006, although the market segment is still relatively small with a sales volume of 217 million euros.
The Asian market for thermotechnology products continued to benefit from the economic development in the region and boasted a total volume of 6.9 billion euros in 2006, which represents an increase of roughly 3 %.
The Asian market is dominated by hot water devices, above all gas water heaters and electric water heaters, which account for 53 % of the total market. Solar systems enjoy growing popularity and are in fact the preferred systems for heating of domestic water in China, the biggest output market.