Domestic Central Heating (Industrial Report) - UK - September 2014
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“The domestic central heating sector has received a welcome boost from the comparative success of ECO incentives, while the Green Deal, at least when it was based on loans, was disappointing in its effect on demand. Nonetheless, the requirement on the UK to reduce carbon emissions has determined that the market has not, and will not, be restricted to economic development, but the growth of the UK economy will add a further impetus to demand over the next few years.”
– Terry Leggett, Senior Analyst
This report addresses the following key questions concerning the domestic central heating market:
This report covers the UK market and industry for domestic central heating products and systems comprising boilers, radiators and central heating controls. Please note that due to a reclassification of data by the ONS, repair and maintenance is no longer included in the domestic central heating market.
There are a number of different types of central heating system included in the analysis of this report, and these are defined by the fuel type used:
The vast majority of radiators comprise steel or iron products, but aluminium radiators are also included, though these tend to be more commonly installed in the commercial sector.
The UK domestic central heating market is heavily dependent on replacement sales. However, a number of factors have conspired to change this ratio in the post-banking crisis review period:
Low levels of new house building activity have placed upward pressure on the proportional importance of replacement items. These conditions notably changed in 2013.
Economic difficulties, low levels of house price inflation, increased employment uncertainty and difficulty in gaining finance reduced house moving activity. This has traditionally been a time of major investment in properties, but this has fallen with the lack of house moving activity placing a downward pressure on the ratio. Such market conditions materially changed in 2013.
The economic conditions have been such (employment uncertainty, pay freezes etc) that people have deferred non-essential expenditure. While a boiler and central heating is deemed by many to be an essential feature of a property, restricted expenditure has encouraged repair rather than replacement. This has reduced overall demand, affecting the replacement market without having the same impact on the new construction market.
Some government incentives have encouraged and facilitated the replacement of boilers, creating a further upward pressure on the ratio.
The replacement of a boiler or a complete system tends to be an “as needed” purchase, which can only be delayed at times of austerity.
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