Commercial Boiler Market Size

Commercial Boiler Market Size

Commercial Boiler Market size exceeded USD 13.3 billion in 2023 and is projected to expand at more than 7.2% CAGR from 2024 to 2032, driven by the tightening regulatory scenario around global carbon emissions.

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Carbon emissions-curbing regulations put in place by regional and federal governments across the globe have bolstered the demand for more efficient commercial boilers, shaping the industry outlook in a prominent manner. The regulations are also accompanied by favorable support policies that make the shift to low carbon energy more financially viable. In December 2022, the US government unveiled a USD 3.7 billion investment in the country’s CO₂ removal industry. Meanwhile, earlier in March 2022, the UK government had announced a £288 million (USD 347 million) fund for green heating projects to minimize the country’s carbon footprint. Global gas fired boiler industry is poised to cross USD 105.9 billion by 2032.

Increasing adoption of green construction practices is also likely to outline industry expansion through 2032. As per reliable estimates, almost 50% of a building’s energy consumption is dedicated towards space and water heating, which contributes over 2450 Mt of direct CO₂ emissions worldwide.