Commercial Boiler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Commercial Boiler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global commercial boiler market size reached US$ 1.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 1.6 Billion by 2028, exhibiting a growth rate (CAGR) of 4.11% during 2023-2028.

Commercial boilers refer to pressurized systems that use electricity or combustible fuels to heat water that provides heating in a commercial building. They consist of a burner, combustion chamber, heat exchanger, controls, and exhaust stack. Some commonly used commercial boilers include firetube, water tube, commercial electric, vertical, and condensing boilers. Depending on the type of the boiler, the burner or electric coil produces hot water or steam, which is transferred via pipes throughout the building. As a result, commercial boilers are widely installed in offices, warehouses, educational institutions, retail outlets, and hospitals to keep the space warm and comfortable.

Commercial Boiler Market Trends:
The escalating demand for space heating in commercial spaces represents the primary factor driving the market growth. Besides this, the rising adoption of energy-efficient solutions, coupled with the increasing investments for the development of green buildings to minimize carbon emissions, is augmenting the demand for commercial boilers. Additionally, governments of various countries are taking several favorable initiatives to install new commercial boilers and upgrade the existing ones. Along with this, the implementation of stringent environmental regulations is accelerating the product adoption rates as modern commercial boiler technologies offer greater efficiency and lower emission discharge. Furthermore, the leading manufacturers are making heavy investments in research and development (R&D) activities to launch innovative boiler systems with compact designs, enhanced efficiency, low carbon footprint, and easy installation. This, in turn, has shifted consumer preferences from conventional to commercial boilers across the globe. Other factors, including the expanding tourism infrastructure, rising construction of residential and commercial buildings, rapid industrialization, and technological advancements, are also expected to create a positive market outlook in the upcoming years.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global commercial boiler market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on fuel type, technology, capacity and end user.

Breakup by Fuel Type:

Natural Gas
Oil
Coal
Others

Breakup by Technology:

Condensing
Non-Condensing

Breakup by Capacity:

Less Than 10 MMBtu/Hr
10-50 MMBtu/Hr
Others

Breakup by End User:

Offices
Hospitals
Educational Institutions
Lodging
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aerco International Inc. (Watts Water Technologies), Ariston Holding N.V., Cleaver-Brooks Inc., Energy Kinetics Inc., Parker Boiler, PB Heat LLC. (NORITZ Corporation), Slant/Fin Corporation, Superior Boiler Works Inc., The Fulton Companies, Vaillant Group, Weil-McLain (SPX Corporation) and Wolf GmbH (Centrotec SE).

Key Questions Answered in This Report

1. What was the size of the global commercial boiler market in 2022?
2. What is the expected growth rate of the global commercial boiler market during 2023-2028?
3. What are the key factors driving the global commercial boiler market?
4. What has been the impact of COVID-19 on the global commercial boiler market?
5. What is the breakup of the global commercial boiler market based on the fuel type?
6. What is the breakup of the global commercial boiler market based on the capacity?
7. What is the breakup of the global commercial boiler market based on the end user?
8. What are the key regions in the global commercial boiler market?
9. Who are the key players/companies in the global commercial boiler market?