U.S. Commercial Boiler Market size to exceed $2bn by 2027
Published Date: June 25, 2021 Authors: Ankit Gupta, Nikhil Paranjape
U.S. Commercial Boiler Market size is expected to surpass USD 2 billion by 2027, as reported in the latest study by Global Market Insights Inc.
The demand for commercial boilers will witness substantial growth owing to ongoing upgradation & replacement of existing heating systems. The government has implemented stringent environmental norms including the National Emission Standards aimed toward limiting carbon emission across commercial sector, complementing the market penetration of these systems. These standards & mandates are applicable to multiple fuel sources which are burnt to harness electricity & heat from oil, natural gas, and coal. Majority of the conventional boilers are non-compliant with the newly introduced standards, which has provided lucrative opportunities for the market participants.
Surging investments toward the development of new retail & commercial centers to drive >10– ≤50 MMBtu/hr boiler industry revenue
The >10– ≤50 MMBtu/hr commercial boiler systems are expected to witness growth owing to the well-established distribution networks across the U.S. for several retail companies and the sector attracts substantial investments in the form of FDI. The increasing demand for space heating across several retail centers including small & medium franchise outlets and “big-box” stores will positively augment the U.S. commercial boiler market demand over the forecast timeline.
Browse key industry insights spread across 990 pages with 2096 market data tables & 48 figures & charts from the report, “U.S. Commercial Boiler Market Statistics By Fuel (Natural Gas, Oil, Coal, Others), By Capacity ((≥0.3 – ≤2.5 MMBtu/hr, >2.5 – ≤10 MMBtu/hr, >10 – ≤50 MMBtu/hr, >50 – ≤100 MMBtu/hr, >100 – ≤250 MMBtu/hr), By Technology (Condensing, Non-Condensing), By Product (Hot Water, Steam), By Application (Offices, Warehouse & Storage facilities, Retail Stores, Educational Institutions, Lodgings, Public Assembly Buildings, Healthcare Facilities, Others), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Establishment of new commercial center will provide impetus to steam commercial boiler deployment
Increasing investments toward the development of new commercial establishments will drive the market growth of commercial steam boilers. Over the years, the floor space across the newly developed buildings have witnessed a substantial increase resulting in the growing installation of energy efficient heating units. High emission content, low performance and high maintenance costs of existing boiler systems are some of the key underlying factors favoring the installation of steam generators.
Robust investments toward the healthcare sector will propel the U.S. commercial boiler market demand
Increasing focus to limit the negative impact of carbon emissions has fueled the deployment of energy efficient boiler system across medical & healthcare establishments. Aging population and greater prevalence of chronic diseases are some of the eminent factors that have increased demand for medical facilities, thereby fueling the U.S. commercial boiler industry landscape. For instance, as per the Centers of Medicare & Medicaid Services, the spending toward healthcare accounted for 17.7% of the country’s GDP in 2019 with per capita spending exceeding USD 11,000.
Presence of numerous educational centers will proliferate U.S. commercial boiler market from Northeast region.
The Northeast region is set to witness strong growth owing to the presence of large commercial and education centers in the region. New York, New Jersey, and Pennsylvania are some of the largest commercial centers in the U.S. which are driving the market demand of commercial boiler systems in the region. Furthermore, Extreme winter temperatures in the Northeast region along with the growing construction spending will stimulate U.S. commercial boiler industry expansion over the forecast timeframe.
The major industry participants in the U.S. commercial boiler market include Burnham Holdings, Columbia Boiler, Victory Energy, A.O. Smith, York-Shipley, P.M. Lattner, Babcock & Wilcox, Unilux Advanced Manufacturing, Cleaver-Brooks, Miura America, Johnston, Vapor Power, Williams & Davis, Hurst, Precision, Clayton, Fulton, Weil-Mclain, RBI, Parker Boiler and Calderas amongst others. New product development along with extensive service portfolio & after sales support are few strategies being adopted by the manufacturers to gain competitive edge over other industry rivals.
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