The Business Research Company’s report on the Commercial Boiler Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the commercial boiler market in recent years?
The rising commercial buildings and increase in safety equipment are expected to propel the growth of the commercial boiler market. Commercial buildings such as offices, retail stores, warehouses & storage facilities, and hospitals are rising due to various reasons such as economic development, rapid urbanization, industrial development, and others. A commercial boiler consists of a pressurized system that uses electricity or burns fuel to heat the water or provide heat in commercial buildings. Commercial boilers keep the commercial buildings safe and comfortable with lesser wastage of energy. Commercial boilers are a safe and cost-effective choice for commercial buildings. The rising commercial buildings and increase in the safety equipment required will generate demand for commercial boilers as these are an important part of commercial buildings for heat/steam applications. For instance, according to a factsheet by the Center for Sustainable Systems, in the USA, the commercial building floor space is expected to reach 124.3 billion square feet by 2050, 29% increase from 2022. . Commercial buildings used 17% of all energy in the U.S., and CO2 emissions from the building sector accounted for one third of U.S. energy system emissions in 2022. Thus, the rising commercial buildings and increase in safety equipment will drive the commercial boiler market growth.
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What is the projected market size of the commercial boiler industry, and how is it expected to grow?
The commercial boiler market size has grown steadily in recent years. It will grow from $3.95 billion in 2024 to $4.13 billion in 2025 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to increased heating and hot water demand, increased industrial process heat, energy efficiency regulations, fuel prices and availability, and economic growth.
The commercial boiler market size is expected to see strong growth in the next few years. It will grow to $5.13 billion in 2029 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to growing green and sustainable heating solutions, renewable energy integration, growing need for building energy management, growing carbon emissions reduction goals, market entry of new players, and emerging market demand. Major trends in the forecast period include introduction of advanced control systems, iot and smart building integration, advanced combined heat and power (chp) systems, technological advancements, strategic partnerships.
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Who are the key players driving competition in the commercial boiler market?
Major companies operating in the commercial boiler market include AO Smith Corporation, Bosch Thermotechnology, Cochran Limited, Cleaver-Brooks, Fulton Boiler Company, Mitsubishi Heavy Industries Ltd, Siemens Energy AG, Asea Brown Boveri, Alfa Laval AB, Babcock & Wilcox Enterprises Inc., Harbin Electric Co. Ltd., Hurst Boiler & Welding Company Inc., IHI Corporation, Miura Co. Ltd., Thermax Limited, Zhengzhou Boiler (Group) Co. Ltd., Parker Boiler, Superior Boiler Works Inc., Vaillant Group, Weil-McLain, Slant Fin Corporation, Pelco Products Inc., Lochinvar LLC, Burnham Commercial, Raypak Inc., Mestek Inc., Laars Heating Systems Company, Columbia Boiler Company, Victory Energy Operations LLC, UNILUX
What key trends are expected to drive the commercial aircraft nextgen avionics market during the forecast period?
The launch of innovative boiler systems is a key trend gaining popularity in the commercial boiler market. The commercial boiler market is witnessing the arousal of innovation trends such as the introduction of low NOx (nitrogen oxide) boilers, and high-efficiency boilers with compact designs, reduced carbon footprints, enhanced efficiency, easy installation, and others. These innovative commercial boilers offer companies increased sales, and an opportunity to gain a competitive edge in the market. For instance, in April 2022, Bosch, a global manufacturer of heating products launched its latest commercial boiler series, the Condens 7000 WP. The new series with new a design is created to increase install time with ease/convenience. It can save up to 60% on average installation times compared to the other models. It also offers the maximum output.
Which key geographies are driving the growth of the commercial boiler market?
North America was the largest region in the commercial boiler market in 2024. The regions covered in the commercial boiler market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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What are the key segments driving growth in the commercial boiler market?
The commercial boiler market covered in this report is segmented –
1) By Boiler Type: Fire Tube, Water Tube
2) By Fuel Type: Natural Gas, Oil, Coal, Other Fuel Types
3) By Technology: Condensing, Non-Condensing
4) By Application: Offices, Warehouse And Storage Facilities, Retail Stores, Educational Institutions, Lodgings, Public Assembly Buildings, Healthcare Facilities
Subsegments:
1) By Fire Tube: Standard Fire Tube Boilers, Condensing Fire Tube Boilers, Packaged Fire Tube Boilers
2) By Water Tube: Standard Water Tube Boilers, High-Pressure Water Tube Boilers, Modular Water Tube Boilers
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How is the commercial boiler market defined, and what are its core characteristics?
A commercial boiler refers to a pressurized system offering steam and hot water to buildings through the use of electricity or burning combustible fuel. With the lesser wastage of energy, commercial boilers keep commercial buildings safe and comfortable. Commercial boilers tend to be in the range of 30 to 150Kw.
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