Global Commercial Boiler Market Size to exceed $15 billion by 2024
Published Date: August 3, 2018 Authors: Ankit Gupta, Aditya Singh Bais
Global Commercial Boiler Market size is set to surpass USD 15 Billion by 2024, as reported in the latest study by Global Market Insights, Inc.
Growing need for hot water and space heating solutions across cold climatic regions along with shifting trend toward adoption of energy efficient heating units will drive the global market growth. Government efforts toward promotion of energy efficient systems in high carbon footprint buildings will further augment the product deployment. The European Union adopted the Energy Performance of Building Directive (EPBD), targeting a zero-greenhouse gas release from building infrastructures by 2050.
Healthcare commercial boiler market size is set to grow on account of rising demand for space heating and hot water needed for cleansing of medical tools, sheets and floors. In addition, growing investments toward modernization and development across private and public healthcare facilities will boost the deployment of commercial boilers across the industry. As per the Centers for Medicare & Medicaid Services, the U.S. in 2017, invested over USD 3.5 trillion toward healthcare, with a projected investment of over USD 5.7 trillion by 2050.
The U.S. market is predicted to surpass an annual installation of 80,000 units by 2024. Resurgent economic growth coupled with rapidly increasing population will drive the industry growth in coming years. As per the World Bank, the U.S. has witnessed a GDP growth of 34.5% between 2009 and 2017, and a population surge of 6.1% within the same period.
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Gas fired commercial boiler market size is predicted to expand over 3% by 2024. Low carbon emissions, relatively lower operational cost and low maintenance requirement will accelerate the product adoption. Growing investments toward development and extension of gas infrastructure will further drive the business growth. In 2016, as per the European Commission, the EU has invested over USD 200 million toward the development of Balticconnector, a natural-gas pipeline connecting Estonia and Finland.
Browse key industry insights spread across 520 pages with 1001 market data tables & 36 figures & charts from the report. “Global Commercial Boiler Market Size By Fuel (Natural Gas, Oil, Coal), By Application (Offices, Healthcare, institutions, Lodgings, Retail), 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), Industry Analysis Report, Regional Outlook, Competitive Market Analysis & Forecast 2018 – 2024” in detail along with the table of contents:
Introduction of stringent government legislatives toward the reduction of carbon emissions will boost the condensing commercial boiler market. For instance, National Emission Standards for Hazardous Air Pollutants was implemented by the Environmental Protection Agency in order to restrict the greenhouse gas emissions from industrial and commercial establishments. Reliable operation, simple controls and compact design are the underlying features that will boost the product adoption.
Growing efforts toward minimizing the effects of global warming in conjunction with the introduction of stringent efficiency and emission standards will propel the market growth. Investors and respective governments are continuously striving toward the development of ecologically and economically sustainable commercial infrastructures. For instance, the European Commission in 2017, introduced Framework Level(s), a voluntary framework toward enhancement of building sustainability.
Germany market is set to witness a revenue growth of over 1% by 2024. Stringent government regulations and standards to limit GHG emissions along with efforts toward adoption of energy efficient heating systems will drive the industry growth. The government of Germany has introduced the National Action Plan on Energy Efficiency (NAPE) in 2016, with a target to reduce the country’s energy consumption by 20% by 2020 compared with 2008 levels.
Notable industry participants across the global market include NIBE, Atlantic, Viessmann, Babcock and Wilcox, Bosch, A.O. Smith, Weil-McLain, Miura, Johnston, Lattner, Fulton, Parker and Hurst.
Global commercial boiler industry research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2013 to 2024, for the following segments:
Global Commercial Boiler Market, By Fuel
- Natural gas
Global Commercial Boilers Market, By Application
Global Commercial Boiler Market, 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
Global Commercial Boilers Market, By Technology
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Middle East & Africa
- Saudi Arabia
- South Africa
- Latin America