North America Commercial Boiler Market Analysis

North America Commercial Boiler Market Analysis

The steam boiler market is set to grow at a rate of 5.9% through 2032. Increasing government spending in the healthcare industry along with continuous upgradation of existing hospitals will favor the market scenario. These units are primarily utilized for space heating, autoclaves equipment sterilization and water heating purposes which in turn will fuel the industry outlook.

The > 2.5 - 10 MMBtu/hr boiler industry held 20% of the North America commercial boiler market share in 2022. These units are primarily deployed across public assemblies, lodgings, offices, schools, institutions and retail centers owing to key advantages including low initial investment, ease-of-installation and low maintenance. Furthermore, growing consumer awareness toward adoption of reliable and efficient heating units will foster the product demand.
 

Based on technology, the market is segmented as condensing and non-condensing. Growing popularity of condensing boilers for space and water heating across the various commercial establishments including universities, schools, federal institutions, and airports will positively influence the North America commercial boiler market dynamics.
 

The commercial electric boiler market crossed a valuation of USD 200 million in 2022. Increasing inclination toward the adoption of sustainable technologies along with implementation of government regulations to limit carbon emissions will positively sway the market growth. Robust development of green buildings coupled with ongoing replacement of existing boiler units will favor the industry statistics.
 

Paradigm shift toward the development of green buildings coupled with introduction of government objectives to attain decarbonized & highly energy-efficient building stock in the near terms will propel the business growth. Several policies by the authorities have mandated the member states to adopt strategies to minimize the carbon footprint of various commercial & industrial establishments, escalating the North America commercial boiler market outlook.
 

The U.S. commercial boiler market is estimated to amass USD 3 billion by 2032. Flourishing commercial sector in line with the rapid development of educational institutions will positively impact the business landscape. Extreme winter temperatures in the nation along with the growing construction spending will stimulate the product penetration. Ongoing expansion of existing medical facilities coupled with surging hospitality sector will augment the industry revenues.