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U.S. Commercial Boiler Market – By Product (Hot Water, Steam), Application (Offices, Healthcare Facilities, Educational Institutions, Lodgings, Retail Stores), Fuel (Natural Gas, Oil, Coal), Capacity, Technology (Condensing, Non-Condensing) & Forecast, 2024 – 2032

  • Report ID: GMI1564
  • Published Date: May 2023
  • Report Format: PDF

U.S. Commercial Boiler Market Size

U.S. Commercial Boiler Market size exceeded USD 2.1 billion in 2023 and is estimated to grow at over 6% CAGR from 2024 to 2032. The increasing adoption of high efficiency water heating systems along with growing investment toward sustainable buildings will favor the business scenario.

 

U.S. commercial boiler market

To understand key trends  

The global commercial boiler market is likely to cross USD 24.5 billion valuation by 2032 due to the surging upgrading and replacement of traditional heating systems with energy efficient systems. Surging efforts to reduce carbon emissions and the implementation of government policies will positively sway business growth. Rising investments toward infrastructural development coupled with robust development of commercial centers will favor the industry scenario.

 

COVID– 19 Impact

The COVID- 19 pandemic significantly impacted the U.S. commercial boiler market by disrupting the supply chain, leading to delays in production and delivery. Limited construction activities due to lockdowns and economic uncertainties resulted in a slowdown in the demand for these boilers. The pandemic's overall effect was a decrease in market growth and a challenging business environment for the commercial boiler business.

 

U.S. Commercial Boiler Market Analysis

U.S. Commercial Boiler Market Share, By Application

To understand key trends  

Based on application, the U.S. commercial boiler market is segmented as offices, healthcare facilities, educational institutions, lodgings, retail stores and others. Healthcare application was valued at over USD 550 million in 2022. The sector deploys these heating systems for space heating, water heating and equipment sterilization. Growing demand for the diagnosis centers coupled with surging investment toward the development of healthcare facilities will fuel product penetration.
 

Based on fuel, the market is segmented as natural gas, oil, coal and others. The gas fired boiler market is set to register at a 4.8% CAGR from 2023 to 2032. The increasing emphasis on cleaner fuels in line with implementation of strict regulations and mandates to limit carbon emissions will drive the adoption of these units. Moreover, the presence of a strong gas supply network throughout the region will contribute to the business growth.
 

The ≤ 0.3 - 2.5 MMBtu/hr capacity commercial boilers market will witness a growth rate of 5.5% through 2032. Wide scale deployment of these units across universities, public assembly, lodgings, retail stores, and healthcare facilities will propel the business landscape. These boilers are preferred owing to their vital features including easy installation, low maintenance cost, and high efficiency.
 

Based on technology, the U.S. commercial boiler market is segmented as condensing and non-condensing. The introduction of favorable government policies including tax incentives and schemes will influence the condensing boiler industry. The key advantages including low carbon footprint, low heating expenses, and improved energy efficiency will in turn accelerate the industry potential. The sector has experienced a growing adoption of cost-effective and efficient systems to meet their water heating and storage needs across the country.
 

U.S. Commercial Boiler Market Revenue Share, By Product,

To understand key trends  

Based on product, the market is segmented as hot water and steam. The commercial hot water boiler market captured approximately 60% of the U.S. commercial boiler market share in 2022. Consumers are increasingly adopting new heating systems in order to comply with energy efficiency guidelines, stringent building standards and codes, as well as the provisions of green building and LEED certification. This trend has led organizations to replace their existing systems with more environmentally friendly options, boosting the business dynamics.

 

South Atlantic Commercial Boiler Market Size

To understand key trends  

The South Atlantic boiler market is set to surpass USD 650 million by 2032. The flourishing hospitality sector combined with expansion of existing medical facilities will augment the business landscape. Growing tourism industry along with robust development of hotels, resorts, and other related establishments will escalate the industry outlook. Additionally, the expansion of retail stores in line with the surging replacement of traditional heating units, will further stimulate the business landscape. Increasing demand for space heating, low winter temperatures, and the upgrading of existing commercial facilities will stimulate the industry outlook.

 

U.S. Commercial Boiler Market Share

The major players operating in the U.S. commercial boiler market includes:

  • Babcock & Wilcox Enterprises, Inc.
  • Hurst Boiler & Welding Co, Inc.
  • Cleaver-Brooks
  • Weil-McLain
  • BURNHAM COMMERCIAL BOILERS
  • Thermal Solutions LLC
  • Columbia Boiler Company
  • Bradford White Corporation
  •  PB HEAT, LLC.
  • PARKER BOILER
  • Slant/Fin Corporation
  • P.M. Lattner Manufacturing Co.
  • Precision Boilers
  • HTP
  • Energy Kinetics
  • AERCO
  • Miura America Co., LTD.
  • The Fulton Companies
  • Clayton Industries
     

U.S. Commercial Boiler Industry News

  • In March 2022, HTP launched a new elite ultra-duo boiler for commercial applications. The latest system incorporates two heat exchangers, offering inherent redundancy in operations. With firing rates ranging from 285,000 to 399,000 Btu, the boiler ensures energy savings with an impressive Annualized Fuel Utilization Efficiency (AFUE) of up to 96%. The use of high-grade stainless steel guarantees exceptional quality and resistance to corrosion. The heat exchanger design incorporates a significantly larger pipe surface area, up to 400% more than conventional designs, ensuring excellent performance and minimal drop in water pressure. The introduction of this new boiler system will further enhance HTP's market presence worldwide.
     
  • In January 2022, PARKER BOILER successfully installed high-pressure hot water boilers to supply heat to a bunker hill tower in Los Angeles, U.S. The installation involved connecting the boilers to the existing piping, heat exchangers, and hot water storage tanks of the building, ensuring a dependable heat source. Enervex provided room pressurization control and draft inducing systems for the project. PARKER BOILER seamlessly integrated all the system components, and the entire system became operational in December 2021.
     

This U.S. commercial boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units”, “MMBtu/hr” & “USD” from 2019 to 2032, for the following segments:

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By Fuel

  • Natural gas
  • Oil
  • Coal
  • Others

By Capacity

  • ≤ 0.3 - 2.5 MMBtu/hr
  • > 2.5 - 10 MMBtu/hr
  • > 10 - 50 MMBtu/hr
  • > 50 - 100 MMBtu/hr
  • > 100 - 250 MMBtu/hr

By Technology

  • Condensing
  • Non-condensing

By Product

  • Hot Water
  • Steam

By Application

  • Offices
  • Healthcare Facilities
  • Educational Institutions
  • Lodgings
  • Retail Stores
  • Others

The above information has been provided for the following regions and states:

  • East North Central
    • Illinois
    • Indiana
    • Michigan
    • Ohio
    • Wisconsin
  • West South Central
    • Arkansas
    • Louisiana
    • Oklahoma
    • Texas
  • South Atlantic
    • Delaware
    • Florida
    • Georgia
    • Maryland
    • North Carolina
    • South Carolina
    • Virginia
    • West Virginia
    • Washington DC
  • North East
    • Connecticut
    • Maine
    • Massachusetts
    • New Hampshire
    • Rhode Island
    • Vermont
    • New Jersey
    • New York
    • Pennsylvania
  • East South Central
    • Alabama
    • Kentucky
    • Mississippi
    • Tennessee
  • West North Central
    • Iowa
    • Kansas
    • Minnesota
    • Missouri
    • Nebraska
    • North Dakota
    • South Dakota
  • Pacific States
    • Alaska
    • California
    • Hawaii
    • Oregon
    • Washington
  • Mountain States
    • Arizona
    • Colorado
    • Utah
    • Nevada
    • New Mexico
    • Idaho
    • Montana
    • Wyoming
       
Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of U.S. commercial boiler reached USD 2.1 billion in 2023 and is estimated to exceed USD 3.5 billion by 2032 driven by the increasing adoption of high-efficiency water heating systems, along with growing investment toward sustainable buildings.
The commercial hot water boiler market held more than 60% share of the overall industry revenue in 2022 and is set to expand substantially through 2032 as consumers increasingly adopt new heating systems to comply with energy efficiency guidelines.
The South Atlantic commercial boiler market valuation is expected to surpass USD 650 million by 2032 attributed to the flourishing hospitality sector, along with the expansion of existing medical facilities.
Babcock & Wilcox Enterprises, Hurst Boiler & Welding Co, Cleaver-Brooks, Weil-McLain, Burnham Commercial Boilers, Thermal Solutions LLC, Columbia Boiler Company, Bradford White Corporation, PB HEAT, LLC., PARKER BOILER, Slant/Fin Corporation, P.M. Lattner Manufacturing Co., Precision Boilers, HTP, Energy Kinetics, AERCO, Miura America Co., The Fulton Companies and Clayton Industries are the major companies in the market.

U.S. Commercial Boiler Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 19
  • Tables & Figures: 3147
  • Countries covered: 1
  • Pages: 1050
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