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North America Boiler Market Size

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

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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.

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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.

North America Boiler Market Report Attributes
Report Attribute	Details
Base Year:	2022
North America Boiler Market Size in 2022:	USD 6.4 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	5.7%
2032 Value Projection:	USD 11.1 Billion
Historical Data for:	2019 to 2022
No. of Pages:	140
Tables, Charts & Figures:	344
Segments covered:	Fuel, Capacity, Application
Growth Drivers:	Stringent government regulations to limit carbon emissions Paradigm shift toward decarbonization Increasing demand for space heating in commercial buildings Ongoing replacement of the existing heating units with energy-efficient boilers Stern policy framework for the development of green buildings Positive outlook toward chemical & food processing industries
Pitfalls & Challenges:	High initial investment Surging availability of alternatives

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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.