U.S. Commercial Boiler Market Analysis

U.S. Commercial Boiler Market Analysis

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.
 

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.

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.