Global Commercial Boiler Market value is predicted to observe significant growth in the coming years. MVI research predict that the market worth exceeded USD 2.21 Billion in 2022 and is expected to showcase a CAGR of over 4.5% from 2023 to 2032. By the end of the forecast period, the market is poised to reach a valuation of around USD 3.39 Billion.
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Commercial boilers are heating systems that are designed to provide heat to large buildings such as schools, hospitals, factories, and apartment buildings. These boilers use various types of fuel such as natural gas, propane, oil, or biomass to produce heat. Commercial boilers are designed to be efficient and reliable, and they are typically larger and more complex than residential boilers due to the higher demand for heating in commercial buildings. They come in a range of sizes and designs, from small wall-mounted units to large industrial boilers. Commercial boilers play a crucial role in ensuring that these buildings remain comfortable and safe for their occupants, while also helping to reduce energy costs and carbon emissions.
Furthermore, most commercial boiler manufacturers are installing safety relief valves in new and existing commercial boilers to relieve excess pressure and improve performance and efficiency, which is a major driver of the global market.
One of the primary drivers is the increasing need for space heating and hot water in commercial buildings, such as offices, hospitals, hotels, and schools. Another important driver is the need for energy-efficient and sustainable heating solutions to reduce energy costs and comply with environmental regulations. Additionally, the growing demand for modular and compact boilers with advanced control systems, IoT connectivity, and remote monitoring capabilities is driving the adoption of new commercial boiler technologies. Moreover, government initiatives and incentives to promote energy-efficient buildings and reduce carbon emissions are also expected to drive the market growth of commercial boilers in the coming years.
The high maintenance costs of these boilers will stymie the market over the predicted timeframe. Another significant obstruction to the market is the need for frequent cleaning and maintenance throughout the forecasted period. Although regular cleaning improves the performance and efficiency of the boiler, it also adds additional maintenance costs, which are projected to impact boiler sales globally.
By Fuel Analysis:
On the basis of fuel, the segment is categorized into natural gas, coal, oil, and others. The natural gas segment is anticipated to dominate the commercial boiler market because natural gas combustion produces primarily carbon dioxide and water, which have no environmental impact. Natural gas emits the least pollution when compared to oil and coal as a fossil fuel; additionally, natural gas has a high calorific value, which means it produces the most heat during the combustion process. Natural gas is also preferred by governments around the world over solid fuels because it improves overall efficiency and reduces harmful gas emissions into the environment.
By Technology Analysis:
Based on the technology, the global commercial boiler market is differentiated into condensing, non-condensing boilers. The non-condensing boilers are predicted to dominate the global market due to their higher energy efficiency, longer life span, and lower cost. The installation of a non-condensing boiler is not complicated.
Moreover, non-condensing boilers have a single unit heat exchanger chamber that allows hot gases from the hob to pass through and heat the water within the exchanger's walls before exiting through the exit flue. The heating temperature of a non-condensing boiler is kept high enough to prevent water vapor in the flue gas from condensing, which protects the boiler from corrosion.
Asia Pacific is projected to dominate the commercial boilers market, with countries like China and India driving the growth. Asia-Pacific is a rapidly growing market for commercial boilers due to the increasing demand for energy-efficient heating systems in commercial buildings. The industry is driven by several factors, including rapid urbanization, increasing industrialization, and favorable government policies supporting energy-efficient infrastructure development.
China, Japan, and India are the major contributors to the commercial boiler market in this region. China is the largest market for commercial boilers in the APAC region, with a rapidly growing construction industry and increasing demand for heating and hot water systems in commercial buildings. Japan is another significant market in the region, with a high adoption rate of advanced technologies such as condensing boilers. The rapid urbanization and industrialization in this region are expected to drive the demand for commercial boilers.
- In April 2022, Bosch Commercial & Industrial has introduced the Condens 7000 WP, its newest commercial boiler series. The new series replaces the popular Worcester Bosch GB162 V2 with a unique design developed to reduce installation time while maintaining simplicity. Furthermore, when compared to the GB162 V2, installers can expect to save up to 60% on average installation times when installing the Condens 7000 WP, freeing up time to complete other installs or larger administrative tasks.
- In April 2022, WOLF has introduced the CGB-2-68/75/100 gas condensing boiler for high thermal power applications. It has the latest revolutionary innovations, regulation control capacity, and quality components.
Leading manufacturers present in the global commercial boiler market:
- Superior Boiler Works, Inc
- Simoneau Group
- Fulton Boiler Company
- Slant/Fin Corporation
- Valliant Group
- Babcock and Wilcox Enterprises
- Weil-McLain Solvay S.A.
- Bosch Thermotechnology
- Cochran Limited
- A.O. Smith Corporation
- Cleaver-Brooks, and more.
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In-depth analysis of commercial boiler market along with industry coverage and forecasting for the following segments:
Market Value, By Fuel
- Natural Gas
Market Value, By Technology
Market Value, By End-user
- Healthcare Sector
- Educational Institutions
Market Value, By Region
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
What is the commercial boiler market size?
The commercial boiler market size is projected to surpadd USD 2.21 Billion by 2032 and estimated to observe 4.5% growth rate during the forecast period.
Who is the leading players in commercial boiler industry?
Top players in the commercial boiler market includes Superior Boiler Works, Inc , Viessmann, Simoneau Group, Fulton Boiler Company, Slant/Fin Corporation, Valliant Group.