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North America Boiler Market Trends

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

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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.

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.