UK Commercial Boiler Market size to exceed $1.4bn by 2026
Published Date: December 17, 2019 Authors: Ankit Gupta, Nikhil Paranjape
UK Commercial Boiler Market size is expected to surpass USD 1.4 Billion by 2026, as reported in the latest study by Global Market Insights, Inc.
The United Kingdom commercial boiler industry outlook is expected to grow at a steady pace in the forthcoming years on account of growing demand for efficient space and water heating systems. High efficiency with reliable operations is among the key factors driving the market growth of commercial boiler across the UK. However, shifting focus towards renewable technologies is projected to create a negative impact on the growth of technology. The ongoing replacement and refurbishment of traditional boiler systems with biomass & biofuel fired boiler systems will adversely impact the market demand of gas and other conventional fueled heating systems.
Stringent emission regulations fueling the natural gas commercial boiler industry growth
The regulatory bodies across the UK are focusing aggressively toward reducing carbon footprint from commercial spaces. As a result of which, the market demand of efficient natural gas fired commercial boiler is expanding significantly when compared to traditional heating systems. Furthermore, such boilers are more efficient and operate as a cleaner space heating solution mainly for the non-residential establishments. The introduction of supportive policies toward the adoption of sustainable technologies will limit the adoption of traditional heating systems which in turn will fuel the natural gas based commercial boiler market growth in the country.
Expanding construction sector in UK is pushing the market growth
Positive outlook toward real estate industry has propelled the market demand of condensing commercial boilers across the UK. As per the office for national statistics, the total value of new projects across the building sector exceeded by USD 148 billion in 2018. Growth in construction industry is primarily driven by private spending, which accounts for over 75% of the new work in 2018. In addition, steady growth across private commercial infrastructure spending will further result in high demand for various space heating technologies including commercial boiler. With the growing healthcare infrastructure, the healthcare segment is expected to gain significant market share in the near future.
Browse key industry insights spread across 110 pages with 40 market data tables & 34 figures & charts from the report, “UK Commercial Boiler Market Size By Fuel (Natural Gas, Oil, Coal, Others), By Application (Offices, Healthcare, Institutions, Lodgings, Retail, 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) Industry Analysis Report, Competitive Market Share & Forecast, 2020 – 2026”in detail along with the table of contents:
Low capacity boilers driving the market growth across retail stores, offices and other applications
According to recent market trends the 0.3-2.5 MMBtu/hr commercial boilers are widely deployed across retail stores, offices, and lodging for heating applications. In the projected market outlook, these units are gaining significant traction on account of growing investments toward the expansion of new commercial establishments. Significant installation of such boiler systems are also being witnessed across various healthcare facilities. Furthermore, ongoing investments toward upgradation of existing hospitals in order to improve their service portfolio will augment the product demand over the forecast timeframe.
Introduction of smart technologies escalating United Kingdom commercial boiler market growth
Introduction of smart technologies to enhance the existing safety index will stimulate the market growth of commercial boiler over the forecast period. The rising investment in the research and development to develop high quality products are bringing massive innovations in the UK commercial boiler market. Digitalization and the use of IoT devices for improved efficiency, real-time monitoring, and economical operations are further amplifying the regional industry growth.
Key players operating across UK commercial boiler market comprise of Babcock and Wilcox Enterprises, Inc., Bosch Thermotechnology, Fulton Boiler Works, Inc., Viessmann, A.O. Smith and Clayton Industries amongst others. New technological innovations and acquisitions are few significant strategies followed by key market players to sustain a competitive edge over other participant in the UK commercial boiler industry.