U.S. Commercial Boiler Market size to exceed $2bn by 2026
Published Date: July 7, 2020 Authors: Ankit Gupta, Nikhil Paranjape
U.S. Commercial Boiler Market size is expected to surpass USD 2 Billion by 2026, as reported in the latest study by Global Market Insights, Inc.
The U.S. commercial boiler industry over the years has witnessed a steep progression due to the rising investments toward the infrastructural development across the country. The participation of private players along with federal and state governments for the development and expansion of commercial centers has created a favorable business scenario. The ongoing commercial sector expansion will further augment the market growth across the nation.
The ongoing COVID-19 pandemic, however, has adversely impacted the economy of the U.S, which in turn has also hindered the market growth for the commercial boilers. The large scale lockdowns across the nation has resulted in closures of various business activities and infrastructural development projects Furthermore, various social distancing measures resulting to run the manufacturing operations with limited workforce has significantly impacted the commercial boiler production across the U.S.
Easy maintenance and lower operational costs associated with oil fueled commercial boiler will proliferate the market statistics
Oil fueled segment of the U.S. commercial boiler market was valued at over USD 200 million in 2019. The technology has witnessed considerable impediment in the recent years owing to the price volatility and several safety concerns. These boilers offer more lifetime energy cost savings when compared to gas-fired owing to low fuel prices. The ability to provide cost-effective heating coupled with the ease of resource availability will augment the market growth and will allow the manufacturers to use oil as a fuel for commercial heating systems. However, requirement of a storage tank for oil based commercial boilers will propel the need for extra space, which pose as a drawback and will reduce the market demand over the forecast timeline.
Browse key industry insights spread across 1050 pages with 2097 market data tables & 48 figures & charts from the report, “U.S. Commercial Boiler Market Analysis 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, Retail, Education, Lodgings, Public Assembly, Healthcare, Others), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026”in detail along with the table of contents:
Growing investment across retail and educational establishments along with competitive pricing will stimulate the non-condensing commercial boilers industry outlook
Non-condensing commercial boilers over the years have witnessed a substantial market growth across various commercial sectors including retail stores, lodgings, and educational facilities. The rising demand for efficient water heating along with the competitive pricing, when compared with the available alternatives, will likely to drive the market demand for such boilers. Cost sensitivity of consumers across the region has also created a competitive business scenario across the boiler industry further augmenting the U.S. commercial boiler market size. Low cost and the ability to withstand wide temperature fluctuations are the key factors stimulating the industry growth over the forecast timeframe.
Extreme climatic conditions to propel the market demand across North East region
The North East region is set to witness significant growth of over 9% during the forecast period. The region owing to the presence of large commercial and education centers is witnessing considerable demand for sustainable commercial boiler systems. New York, New Jersey, and Pennsylvania comprise of some of the largest commercial centers which in turn is creating new avenues for U.S. commercial boiler market. Ongoing investments in establishing more commercial buildings will propel a demand for efficient heating systems for the buildings, thus escalating the market demand for commercial boiler systems. Extreme winter temperatures in the region along with rising disposable income and the growth in construction spending will stimulate the product penetration across the North East region.
Key market players operational in the U.S. commercial boiler market include Fulton Boiler Works, Inc., P. M. Lattner Manufacturing Company, Clayton Industries, Miura America Co., Ltd., Columbia Boiler Company, Hurst Boiler and Welding Co, Inc., Cleaver-Brooks, Inc., Parker Boiler Company, Superior Boiler Works, Inc. amongst others.
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