Commercial Boiler Market Forecast– 2030
The global commercial boiler market size was valued at $1.9 billion in 2020, and is projected to reach $2.8 billion by 2030, growing at a CAGR of 4.2% from 2021 to 2030. A commercial boiler is a pressurized system that creates heat by burning combustible fuel to provide heating for residential and commercial buildings. Burner, combustion chamber, heat exchanger, controls, and exhaust stacks are just a few of the components that make up a commercial boiler.These add-ons are essential for a commercial boiler's optimal operation. However, due to efficient operation of commercial boilers, regional governments have mandated the installation of safety accessories in commercial boilers under the Code of Federal Regulations (CFR) and the India Boiler Regulation (IBR).
Over the projected period, sales of commercial boilers isexpected to increase due to rise in the number of commercial and residential buildings, as well as increased safety rules for heating equipment.Furthermore, most commercial boiler manufacturers are putting safety relief valves in current and new commercial boilers to release excessive pressure and improve performance and efficiency, which is also a major driver of the global market.
One of the most important factors projected to decrease overall sales of commercial boilers throughout the projection period is the high expense of frequent cleaning and maintenance. The focus of a leading commercial boiler manufacturer is on creating compact designs and energy-efficient accessories for commercial boilers.Furthermore, manufacturers are producing industrial boilers in accordance with regulatory standards. This has been a supply-side trend in the worldwide commercial boiler market, and is expected to continue during the forecast period.
The global commercial boiler market is segmented into fuel type, technology, capacity, end user, and region. On the basis of fuel type, the market is divided into natural gas, oil, coal, and others. Bytechnology, the market is bifurcated into condensing and non-condensing. On the basis of capacity, the market is segmented into less than 10 MMBtu/hr, 10-50 MMBTU/HR, and others. Depending on enduser, the market is fragmented into offices, lodging, educational institutions, hospitals, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The manufacturers studied and profiled in the commercial boiler industry include A.O. Smith Corporation, Bosch Thermotechnology, Cochran Limited, Cleaver-Brooks, Fulton Boiler Company, Parker Boiler, Slant/Fin Corporation, Superior Boiler Works, Inc., Vaillant Group, and Weil-McLain.
Commercial boiler market, by fuel type
In most of the commercial boilers, natural gas is used prominently as compared to solid fuel owing to the fact that natural gas improves the overall efficiency and reduces the harmful gases emission. Therefore, government also supports the use of natural gas fired combustion boilers.
By Fuel Type
Natural Gas is projected as the most lucrative segment.
Commercial boiler market, by technology
The non-condensing segment held the largest revenue share in the global commercial boilers market in 2020. A non-condensing boiler has a single heat exchanger chamber, where the hot gases from the burner, pass through to heat the water within the walls of that exchanger, before reaching the exit flue.
By Technology
Non-Condensing is projected as the most lucrative segment.
Commercial boiler market, by capacity
By capacity, the less than 10 MMBtu/hr segment is projected to grow at a significant rate during the forecast period. Easy installation along with cost effectiveness over its available counterparts drive the industry growth.
By Capacity
Less than 10 MMBtu/hr is projected as the most lucrative segment.
Commercial boiler market, by End User
The hospitals segment held the largest revenue share in the global commercial boiler market. Rise in the demand of heat systems such as blower, geysers, and others in offices led to increase in in demand of commercial boiler and act as the main driver for market.
By End User
Offices is projected as the most lucrative segment.
Commercial boiler market, by region
The Europe commercial boiler market is estimated to witness a significant growth during the forecast period. Most of the building structures such as healthcare facilities and educational institutions in the U.K. are largely dependent on heating systems for supply of heat at low pressure.
By Region
Europe holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.
Key benefits for stakeholders
- Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- It outlines the current commercial boiler market trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
- The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, & opportunities and their detailed impact analysis are explained in the study.
- The profiles of key players and their key strategic developments are enlisted in the report.
Impact of COVID-19 on the global commercial boiler market
Some of the major economies suffering from theCOVID-19 crises include Germany, France, Italy, Spain, the UK, Norway, and others. Many industries have been shut down due to lack of raw material availability and disruptions in the supply chain, owing to the virus outbreak. The worldwide lockdown has suspended the activities of educational institutions and lodging and many other sectors, which results in declining the demand for commercial boiler.
- Gaps in demand-supply, price volatility, and changes in government policy affect the growth of various end-use industries. In terms of its immediate and long-term effect on industry and consumers, the COVID-19 pandemic has outpaced any headwind ever encountered. The world economy of commercial boiler industries has been experiencing a rapid slowdown due to the constraints of the COVID-19 pandemic on economic activity.
- Governments around the world enacted stringent lockdowns, forcing the closure of a variety of residential and commercial infrastructure projects. This has had a direct impact on the expansion of a number of industries, including the commercialboiler sector.
Key Market Segments
By Fuel Type
- Natural Gas
- Oil
- Coal
- Others
By Technology
- Condensing
- Non-Condensing
By Capacity
- Less than 10 MMBtu/hr
- 10-50 MMBtu/hr
- Others
By End User
- Offices
- Hospitals
- Educational Institutions
- Lodging
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- UK
- Spain
- Rest of Europe
- Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key players in the global Commercial boilermarket are:
- A.O. Smith Corporation
- Bosch Thermotechnology
- Cochran Limited
- Cleaver-Brooks
- Fulton Boiler Company
- Parker Boiler
- Slant/Fin Corporation
- Superior Boiler Works, Inc.
- Vaillant Group
- Weil-McLain Solvay S.A.
Commercial Boiler Market Report Highlights
| Aspects | Details |
 By FUEL TYPE |
|
 By TECHNOLOGY |
|
 By CAPACITY |
|
 By END-USE |
|
 By Region |
|
 Key Market Players | Superior Boiler Works, Inc., A.O. Smith Corporation, Vaillant Group, Fulton Boiler Company, Weil-McLain, Cochran Limited, Parker Boiler, Slant/Fin Corporation, Cleaver-Brooks, Bosch Thermotechnology |
Analyst Review
The global commercial boiler market is moving toward growth stabilization phase in its industry life cycle. Growth in demand from offices, hospitals, educational institutions, lodging, and others and low investment cost of natural gas among other fuels are the factors that drive the growth of the global commercial boiler market. In cold countries, commercial boilers are commonly used to heat water. The global commercial boilers market is expected to be fueled by an increase in the demand for space heating in both residential and commercial buildings, as well as the expansion of the industrial sector. In addition, an office is the largest revenue contributor to the market and is expected to maintain its dominance during the forecast period. Furthermore, region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Europe accounts for the largest share of the market, followed by Asia-Pacific and North America. However, the COVID-19 pandemic has negatively affected the key sectors such as offices, educational institutions, and lodging. This is expected to hamper the growth of the global commercial boiler market.
The growing positive outlook toward healthcare sector are driving the demand for commercial boilers
Rising need for space heating across commercial buildings and growing demand for energy efficient boilers are driving the demand for commercial boilers
The report sample for global commercial boilers marketreport can be obtained on demand from the website. Also, the 24*7 chat support and direct call services are provided to procure the sample report.
The market players are adopting various growth strategies and also investing in R&D extensively to develop technically advanced unique products which are expected to drive the market size.
Asia-Pacific region will provide more business opportunities for commercial boilers market in coming years
The top ten market players are selected based on two key attributes - competitive strength and market positioning
Technology segment holds the maximum share of the commercial boilers market
A.O. Smith Corporation, Bosch Thermotechnology, Cochran Limited, Cleaver-Brooks, Fulton Boiler Company, Parker Boiler are the top players in commercial boilers market.
Offices, hospitals, and educational institutes are the potential customers of commercial boilers industry
The global commercial boilers market was valued at $ 2.5 Billion in 2027
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