U.S. Commercial Boiler Market Size By Fuel (Natural Gas, Oil, Coal), By Application (Offices, Warehouse and Storage, Retail, Education, Lodgings, Public Assembly, Healthcare), By Capacity (0.3-2.5 MMBtu/hr, 2.5-10 MMBtu/hr, >10 MMBtu/hr), By Technology (Condensing, Non-Condensing), Analysis Report, Regional Outlook (Illinois, Indiana, Michigan, Ohio, Wisconsin, Alabama, Kentucky, Mississippi, Tennessee, Arkansas, Louisiana, Oklahoma, Texas, Delaware, Florida, Maryland, North Carolina, South Carolina, Virginia, West Virginia, Washington D.C., Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont, New Jersey, New York, Pennsylvania, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota, Alaska, California, Hawaii, Oregon, Washington, Arizona, Colorado, Utah, Nevada, New Mexico, Idaho, Montana, Wyoming), Competitive Market Analysis & Forecast, 2017 – 2024
Published Date: May 2017 | 450 Pages | Report ID: GMI1564 Report Format: PDF
U.S. Commercial Boiler Market size was over USD 850 million in 2016 and the annual installation is set to exceed 80,000 units by 2024.
East South Central Commercial Boiler Market size, By Capacity, 2016 & 2024 (USD Million)
Increasing government spending towards healthcare and education sector will stimulate the U.S. commercial boiler market size. In 2016, the Center for Medicare and Medicaid Services reported that the national healthcare expenditure grew to about USD 3 trillion, accounting for more than 17% of GDP.
Rising demand for energy efficient systems to curb carbon footprints along with growing measure towards replacement of existing heating units will drive the commercial boiler market. The Environmental Protection Agency (EPA) has introduced National Emission Standards for Hazardous Air Pollutants (NESHAP) to regulate carbon emissions. Supportive government policies with strict regulations towards environmental pollution will further boost the product demand.
Growing need for commercial space heating across cold climatic zones in the region coupled with measures toward energy conservation will fuel the commercial boiler market share. Increasing infrastructural spending will positively impact the industry size. From 2008 to 2012, more than 28,000 commercial buildings were constructed.
U.S. Commercial Boiler Market, By Fuel
Natural gas commercial boiler market is set to exceed 60,000 units by 2024. In 2014, over 3000 trillion Btu gas was consumed by commercial sector. High efficiency, easy availability and low emission rate are some of the key parameters which make its adoption preferable over available alternatives.
Oil accounted for over 10% of U.S. share in 2016 and is predicted to witness slow growth owing to government measures to reduce their dependency on conventional fuels. Low efficiency and high carbon emissions may further restraint the product demand.
U.S. Commercial Boiler Market, By Application
Commercial boiler market from office applications for 2016 was valued over USD 200 million. Increasing spending towards energy efficient buildings along with rapid infrastructure development will stimulate the industry landscape. In 2015, green building construction spending exceeded USD 150 billion. Positive outlook towards hospitality and tourism industry across the country will boost the product demand.
Growing demand for equipment sterilization and water & space heating applications will propel the healthcare commercial boiler market size by 2024. Increasing government spending towards modernization of medicare facilities will stimulate the business landscape. In 2015, the U.S. healthcare spending reached over USD 9900 per capita.
U.S. Commercial Boiler Market, By Capacity
0.3 to 2.5 MMBtu/hr commercial boiler market size is set to exceed USD 250 million by 2024 owing to its cost effectiveness over other available alternates. It finds wide applications in offices, retail sector, educational facilities and public assemblies.
2.5 to 10 MMBtu/hr commercial boiler market share is predicted to grow over 3% owing to growing focus towards education and healthcare facilities. In 2015, New York Department of Education announced to invest over USD 14 billion to build and upgrade school infrastructure under 5-year plan. Warehouse and storage facilities expansion coupled with growing investment towards service sector including food and retail will boost the demand for >10 MMBtu/hr capacity units.
U.S. Commercial Boiler Market, By Technology
Strict government regulations towards carbon footprints coupled with growing demand for high efficiency heating system will fuel the condensing commercial boiler market growth. These products achieve efficiencies over 90% by trapping heat from flue gases and utilizing it to pre-heat returning water. Ability to provide high efficiency makes its adoption preferable over other available alternatives.
Non-condensing commercial boiler market is predicted to surpass 30,000 annual installations by 2024 owing to its cost effectiveness. These system offers compact design and can operate in extreme weather conditions. Minimal maintenance cost coupled with ease of installation make them ideal choice for tough conditions.
U.S. Commercial Boiler Market, By Region
For West South Central, Texas commercial boiler market is set to exceed 4000 annual installation by 2024. Positive outlook towards commercial and healthcare sector will embellish the industry growth.
Florida accounted for over 16% of South Atlantic commercial boiler market share in 2016. Growing spending towards tourism sector and upgradation of hospitals will stimulate the regional growth. Florida tourism sector is one the biggest in the U.S. with a spending of over USD 80 billion in 2014.
Flourishing retail trade coupled with increased spending on educational sector will stimulate the Virginia commercial boiler market share. In 2015, government spending in the state grew over USD 46 billion with education sector accounting for over 30% of the state expenditure.
Nevada commercial boiler market accounted for more than 10% of the Mountain States revenue in 2016.Replacement and retrofitting demand from lodgings and public assembly buildings will boost the product demand. In Sparks Marina, Marriot and Hilton are set to open two hotels with more than 100 rooms capacity in 2018.
Competitive Market Share
Notable players in the U.S. commercial boiler market include Weil-McLain, Superior Boiler Works, Cleaver Brooks, Columbia Boiler, Fulton, Hurst Boiler and Welding, Johnston, Bradford White Corporation, Burnham Commercial, Rite Engineering and Manufacturing, P.M. Lattner Manufacturing, PB Heat, Woodmaster, Victory Energy Operations, Vapor Power, Parker Boiler, Clayton, A.O. Smith, Babcock and Wilcox, RBI, HTP, Groupe Simoneau, ECR and others.
The industry has witnessed turnaround in past few years owing to resurgence of commercial sector post 2008 recession. Growing popularity of condensing systems and increasing requirement of remote access has led to product launches and upgradations. In August 2016, A.O. Smith Corporation introduced Power-Fin high efficiency heating units for commercial buildings.
U.S. Commercial Boiler Industry Background
These products are enclosed vessels primarily used for steam and hot water generation and are primarily fueled by natural gas or oil. It finds wide applications in commercial sector including offices, educational institutions, healthcare facilities and hotels. Increasing requirement for space heating systems in cold climatic regions from commercial buildings will positively impact the industry outlook. Technological advancement in design and operation to improve efficiency will further augment business growth.
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