Commercial Boiler Market size to exceed $12.5bn by 2028
Published Date: July 22, 2021 Authors: Ankit Gupta, Nikhil Paranjape
Commercial Boiler Market size is expected to surpass USD 12.5 Billion by 2028, as reported in the latest study by Global Market Insights Inc.
The demand for commercial boiler units is set to witness a noteworthy growth on account of the ongoing upgradation & replacement of existing heating systems. The policy makers across the globe have implemented strict norms pertaining to environmental safety which are designed to limit emissions in commercial sector. Introduction of such standards and policies are complementing the market penetration of modern boiler systems. These mandates & standards are applicable to various fuels including natural gas, coal and oil amongst others that are combusted to produce hot water and steam. Noncompliance of majority of conventional boiler systems to newly introduced standards have created opportunities for various market participants to develop efficient technologies, which will favor the business statistics over the forecast years.
Soaring investments across the infrastructural development of new commercial & retail centers to fuel >10 – ≤50 MMBtu/hr commercial boiler industry share
The >10 – ≤50 MMBtu/hr capacity commercial boiler market is anticipated to grow substantially on account of the influx of FDI pertaining to the established distribution channels of various retail companies across developed nations including U.S. and others. The rising demand of space heating application in several retail stores including “big-box” stores and other medium & small franchise outlets will proliferate the global market demand in the next few years.
Browse key industry insights spread across 650 pages with 1216 market data tables & 51 figures & charts from the report, “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, Healthcare Facilities, Educational Institutions, Lodgings, Retail Stores, Others), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2018 – 2028” in detail along with the table of contents:
Steam boiler deployment to witness a noteworthy growth owing to the establishment of new commercial centers.
Rising investments for the development & expansion of new commercial buildings will enhance the steam-based commercial boiler market statistics. Last few years have witnessed a steady growth in the floor space across the new commercial offices, which in turn complements the deployment of energy efficient heating systems. High maintenance costs, low performance and high emission content of existing boiler systems are few of the derogatory factors which in turn are complementing the adoption of steam boilers.
Growing investment toward educational institutions will drive the market demand of commercial boilers.
Major governments across the globe are investing in the development of educational facilities including schools, colleges, universities, and libraries, which will proliferate the business scenario for commercial boilers. These establishment utilizes the boiler systems primarily for space heating and hot water production. Growing concerns toward increasing carbon emission from commercial establishments coupled with rising focus toward development of green buildings will propel the market demand for efficient boiler systems over the forecast period.
Expansion of commercial centers including offices and educational facilities will proliferate commercial boiler market across North America.
North America region over the years have witnessed a substantial growth in deployment of commercial boiler units across educational facilities on account of growing investment across infrastructural development coupled with increasing consumer spending towards education. Pennsylvania, New Jersey, and New York are amongst the biggest commercial centers in the country, offering a substantial market growth opportunity for the commercial boiler manufacturers.
The key industry players in the global commercial boiler market include Hurst Boiler and Welding Co, Inc., Cleaver-Brooks, Inc., Babcock and Wilcox Enterprises, Inc., Viessmann Limited, Hoval, Ferroli S.p.A., and SIME amongst others. After sale services and new product development are key strategies implemented by the solution providers and commercial boiler manufacturers to achieve a competitive edge over other market players.