North America Commercial Boiler Market Size - By Fuel (Natural Gas, Oil, Coal, Electric), By Capacity, By Technology (Condensing, Non-Condensing), By Product (Hot Water, Steam), By Application & Forecast, 2024 – 2032
Report ID: GMI5237
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Published Date: July 2024
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Report Format: PDF
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Premium Report Details
Base Year: 2023
Companies covered: 22
Tables & Figures: 33
Countries covered: 3
Pages: 100
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North America Commercial Boiler Market
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North America Commercial Boiler Market Size
North America Commercial Boiler Market size was valued at USD 2.5 billion in 2023 and is estimated to grow at a CAGR of 6.3% between 2024 and 2032. Extreme climatic conditions necessitate advanced hot water systems with integrated smart space heating technologies, which in turn will drive the product penetration. For instance, in 2023, the investments across Canada commercial real estate sector have grown at a rate of over 7%.
Commercial boilers are essential components in various industries, providing efficient and reliable heating solutions for large-scale facilities. These boilers are designed to handle high capacities and deliver consistent heat output, making them ideal for heating large buildings, factories, hospitals, and schools. They operate by heating water or producing steam, which is then distributed through a network of pipes to provide space heating, hot water, and in some cases, process heating
North America Commercial Boiler Market Trends
The boiler market is additionally supported by rising consumer awareness and environmental regulations aimed at encouraging the adoption of efficient and dependable heating systems. The shift toward green building development along with government initiatives aimed at achieving decarbonized and highly energy-efficient building stocks in the near future will fuel the business growth. Government policies mandating the reduction of carbon footprints in commercial spaces is set to boost the industry prospects.
North America Commercial Boiler Market Analysis
The natural gas segment will exceed over USD 2.5 billion by 2032. These units find widespread deployment in public assemblies, lodgings, offices, schools, institutions, and retail centers due to their significant advantages, such as low initial investment, ease of installation, and minimal maintenance requirements. Additionally, increasing consumer awareness regarding the adoption of reliable and efficient heating units will drive the product deployment. The robust growth of green buildings, combined with the ongoing replacement of existing boiler units will benefit the business landscape.
The condensing commercial boiler market size will witness over 9% CAGR through 2032. The growing preference for sustainable technologies, coupled with government regulations aimed at reducing carbon emissions will positively influence the business growth. Increased government investment in the healthcare industry alongside ongoing upgrades to existing hospitals, will support favorable business conditions. These units are predominantly used for space heating, autoclave equipment sterilization, and water heating, driving the business outlook forward.
The U.S. commercial boiler market is set to surpass USD 3 billion by 2032. The thriving commercial sector, coupled with rapid development in educational institutions will have a positive impact on the industry environment. Extreme winter temperatures nationwide alongside increased construction spending will stimulate the product adoption. Furthermore, ongoing expansions in medical facilities and a growing hospitality sector will further enhance the business landscape.
Growing emphasis on sustainable practices are pushing businesses to upgrade to more efficient heating systems, accelerating the Canada commercial boiler industry. Technological developments including the integration of smart controls and IoT capabilities into boiler systems, are also reshaping the business landscape, offering enhanced operational efficiency and maintenance benefits. Additionally, government incentives and rebates for adopting energy-efficient technologies incentivize businesses to invest in modern boiler solutions, ensuring a competitive and evolving industry scenario.
North America Commercial Boiler Market Share
Burnham Commercial Boilers is a renowned name in the boiler industry, recognized for its high-quality, innovative heating solutions. The company specializes in a wide range of boilers designed for commercial and industrial applications, including steam and hot water systems. Its boilers are known for their durability, efficiency, and advanced technology, making them a preferred choice for businesses seeking reliable heating solutions. With a commitment to engineering excellence and customer satisfaction, Burnham continues to be a trusted provider of heating equipment across various sectors, offering customized solutions to meet diverse heating requirements.
North America Commercial Boiler Market Companies
The key industry players include:
North America Commercial Boiler Industry News
The North America commercial boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units”, “MMBTU/hr” & “USD Million” from 2021 to 2032, for the following segments:
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Market, By Fuel
Market, By Capacity
Market, By Technology
Market, By Product
Market, By Application
The above information has been provided for the following countries: