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North America Commercial Electric Boiler Market Size

Report ID: GMI8659
Published Date: Mar 2024
Report Format: PDF

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North America Commercial Electric Boiler Market Size

North America Commercial Electric Boiler Market size was valued at USD 231.8 million in 2023 and is anticipated to grow at a rate of 16.6% up to 2032. Stringent government regulations & emission norms along with increasing government focus toward deployment of energy efficient heating technologies will augment the business landscape.

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For instance, in 2023, as per World Resources Institute, Canada was ranked second highest in terms of greenhouse gas emissions per capita among the top 11 emitting countries. A commercial electric boiler is a heating system designed to provide hot water or steam for commercial facilities including offices, hotels, hospitals, or manufacturing facilities. They typically consist of heating elements, controls, pumps, and safety features to ensure efficient and safe operation. Increasing replacement of traditional systems with energy efficient units will drive the business potential.

North America Commercial Electric Boiler Market Report Attributes
Report Attribute	Details
Base Year:	2023
North America Commercial Electric Boiler Market Size in 2023:	USD 231.8 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	16.6%
2032 Value Projection:	USD 872 Million
Historical Data for:	2019 to 2023
No. of Pages:	125
Tables, Charts & Figures:	244
Segments covered:	Voltage Rating, Product, Capacity, Application & Country
Growth Drivers:	Surging measures toward the decarbonization of commercial sector Increasing requirements of space heating across commercial establishments Stringent government norms to limit carbon emissions
Pitfalls & Challenges:	High electricity cost

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Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

North America commercial electric boiler industry size was USD 231.8 million in 2023 and is anticipated to grow at a 16.6% CAGR from 2024-2032 driven by the stringent government regulations & emission norms along with increasing government focus toward deployment of energy efficient heating technologies.

North America low voltage commercial boiler market will generate more than USD 550 million by 2032 owing to the enactment of legislative mandates aimed at reducing greenhouse gas emissions, combined with the continuous adoption of low emission heating systems.

U.S. commercial boiler industry size is poised to surpass USD 650 million by the end of 2032 attributed to the increasing utilization of economical and proficient systems for meeting water heating and storage requirements within commercial establishments across the country.

Key North America commercial electric boiler industry players include ACV, Bosch Industriekessel GmbH, Chromalox, Cleaver-Brooks, Inc., Danstoker A/S, Ecotherm Austria GmbH, Flexiheat UK Ltd., Lochinvar, Miura America Co., Ltd., Precision Boilers, Reimers Electra Steam, Inc., Slant/Fin Corporation, Sussman Electric Boilers, The Fulton Companies, Thermon, Thermona, spol. s.r.o., Vattenfall AB, and Weil-McLain.