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North America Boiler Market Size - By Fuel (Natural Gas, Oil, Coal, Electric), By Capacity (≤ 10 MMBtu/hr, > 10 - 50 MMBtu/hr, > 50 - 100 MMBtu/hr, > 100 - 250 MMBtu/hr, > 250 MMBtu/hr), By Application (Residential, Commercial, Industrial) & Forecast, 2023 – 2032

  • Report ID: GMI7285
  • Published Date: Nov 2023
  • Report Format: PDF

North America Boiler Market Size

North America Boiler Market was valued at USD 6.4 billion and is estimated to expand at 5.7% CAGR between 2023 and 2032. The robust expansion of commercial space along with extreme weather conditions will drive the demand for efficient & reliable heating solutions. For instance, residential investments witness a significant growth in the year 2022.

North America Boiler Market

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The boiler market has witnessed steep progression over the years due to rising investments in infrastructural development and resurging construction sector. The increasing demand for space heating across commercial buildings in line with flourishing real estate sector will drive the business growth. Furthermore, the demand is driven by ongoing replacement of the existing heating units with energy-efficient boilers.

COVID– 19 Impact

The COVID- 19 pandemic has caused a severe economic slowdown and has had a highly intense impact on certain industries. The pandemic decreased industrial activity, which in turn affected the market for boilers. In a similar vein, labor shortages, transportation limitations, and lockdown procedures caused problems for the manufacturing facilities, which caused a disruption in the supply chain.

North America Boiler Market Trends

Transition of energy systems from fossil fuels to decarbonized alternatives coupled with increasing deployment of clean energy technologies will propel the industry growth. Commercial and industrial sector being one of the prominent emitters of the emissions will increase the deployment of condensing boilers across these application areas. Increasing demand of water and space heating systems owing to surging population and rising urbanization rate will drive the business growth. Introduction of supportive policies by the government toward achieving high energy efficiency primarily across the developing nations will subsequently influence the deployment of boilers.

A boiler is a specialized mechanical device or appliance used to generate hot water or steam for various heating and industrial purposes. Boilers operate by heating water or other fluids to produce the desired output, whether it's hot water for space heating or steam for industrial processes. Boilers are commonly used in residential, commercial, and industrial settings to provide central heating, hot water supply, and energy for various applications.

North America Boiler Market Analysis

 North America Boiler Market Size, By Capacity, 2021 - 2032 (USD Billion)

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Based on capacity, the > 10 - 50 MMBtu/hr boiler industry will witness about 5.3% growth rate till 2032. These boilers will gain an appreciable momentum owing to introduction of government various tax incentives to promote the adoption of energy-efficient technologies that consume less fuel and deliver high energy. The participation of private players and government for the development and expansion of commercial and industrial buildings will create a favorable business scenario.

North America Boiler Market Revenue Share, By Fuel, 2022

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Based on fuel, the gas fired boiler market holds a revenue share of over 60% in 2022. Stringent government norms pertaining to the adoption of low-emission fuels will drive the demand for natural gas fired boilers.  The manufacturing of cost-effective heating systems coupled with the rapid adoption of natural gas-based units further impedes product penetration.

Based on application, the commercial boiler market size reached USD 4 billion in 2022. The ongoing commercial expansion owing to the resurgent construction sector will augment the product demand across majorly across the developing nations. Increasing space heating demands across commercial establishments along with growing consumer awareness to install efficient and reliable heating units will further add to the industry growth.

U.S. Boiler Market Size, 2021 - 2032 (USD Billion)

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  • The U.S. boiler industry reached a valuation of USD 5.3 billion in 2022. The market for this product has experienced a notable uptick in demand due to the growing need for space heating in commercial structures and a heightened focus on corporate sustainability, driving the adoption of cleaner and more efficient boiler technologies.
  • This demand is driven by factors major factors like ongoing replacement of the existing heating units with energy-efficient boilers & frequency of weather-related disasters, paradigm shift toward decarbonization has been influential for fueling the demand for these units.

North America Boiler Market Share

The major players in the boiler business in North America use a variety of strategies to maintain and grow their market share. Usually, these strategies are affected by things like changing customer preferences, technological advancements, regulatory changes, and competitive pressures. The leading companies in the market include:

  • Carrier Corporation
  • Lennox International Inc.
  • Trane Technologies
  • Weil-McLain
  • Bosch Thermotechnology
  • Burnham by U.S. Boiler Company
  • Navien
  • Fulton Boiler Works
  • Slant/Fin Corporation
  • Cleaver-Brooks
  • Peerless Boilers
  • Columbia Boiler Co.
  • Laars Heating Systems
  • Viessmann Group
  • New Yorker Boiler Company
  • Raypak
  • A.O. Smith
  • HTP (Heat Transfer Products)
  • Camus Hydronics
  • RBI Water Heaters

Weil-McLain is a prominent company in the field of hydronic comfort heating solutions. The company specializes in manufacturing residential oil boilers, including product lines such as Ultra Oil, WGO, WTGO, and SGO.

North America Boiler Market News

  • In July 2023, Weil-McLain announced that they have certified their residential oil boilers, including Ultra Oil, for use with biofuel blends up to 20% (B20), in partnership with industry leaders. B20 compatible boilers reduce greenhouse gas emissions, provide energy security, and may qualify for government incentives. Homeowners can also benefit from federal tax credits when upgrading to these environmentally friendly units.
  • In September 2022, Navien announced their established business entity in Canada, known as Navien Canada, Inc., this entity is separate from their operations in the United States and Mexico. They have achieved significant growth in the Canadian market as a leading manufacturer of tankless water heaters and wall-hung boilers. Their aim is to enhance localized services and strengthen partnerships with customers. The grand opening of the first Canada distribution center in Surrey, BC, marked this milestone, aligning with Navien's commitment to evolving customer expectations.

This North America Boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD” from 2019 to 2032, for the following segments:

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By Fuel

  • Natural Gas
  • Oil
  • Coal
  • Electric
  • Others

By Capacity

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

By Application

  • Residential
  • Commercial
    • Offices
    • Healthcare Facilities
    • Educational Institutions
    • Lodgings
    • Retail Stores
    • Others
  • Industrial
    • Food Processing
    • Pulp & Paper
    • Chemical
    • Refinery
    • Primary Metal
    • Others

The above information has been provided for the following countries:

  • U.S.
  • Canada
  • Mexico


Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market valuation of the North America boiler was worth USD 6.4 billion in 2022 and is projected to surpass USD 11.1 billion by 2032, due to the robust expansion of commercial spaces along with extreme weather conditions.

North America gas fired boiler market held more than 60% of revenue share in 2022 and is poised to witness high demand through 2032, owing to the stringent government norms pertaining to the adoption of low-emission fuels across the region.

U.S. boiler market size reached USD 5.3 billion in 2022 and is set to expand at a robust growth rate between 2023 and 2032, driven by the rising need for space heating in commercial structures and the heightened focus on corporate sustainability.

Some of the top boiler firms in North America are Carrier Corporation, Lennox International Inc., Trane Technologies, Bosch Thermotechnology, Burnham by U.S. Boiler Company, Fulton Boiler Works, Slant/Fin Corporation, Columbia Boiler Co., New Yorker Boiler Company, and A.O. Smith, among others.

North America Boiler Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 20
  • Tables & Figures: 344
  • Countries covered: 3
  • Pages: 140
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