Commercial Boilers Market Size (2024 - 2029)

The Commercial Boilers Market is projected to expand steadily over the forecast period, driven by the increasing demand for space heating in commercial spaces and the rising adoption of energy-efficient solutions. The market's growth has been influenced by the impact of the COVID-19 pandemic, which disrupted manufacturing and commercial projects. Governments worldwide are promoting the installation and upgrading of commercial boilers through favorable initiatives and stringent environmental regulations, which enhance product adoption due to improved efficiency and reduced emissions.

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Market Size of Commercial Boilers Industry

Commercial Boilers Market Overview
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 4.63 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Low

Major Players

Commercial Boilers Market Key Companies

*Disclaimer: Major Players sorted in no particular order

Commercial Boilers Market Analysis

The Commercial Boilers Market is expected to witness growth at a CAGR of 4.63% over the forecast period. The outbreak of COVID 19 has hampered the market by restricting the manufacturing operation of essential water heating and water treatment products. Various government bodies worldwide have imposed a strict lockdown, resulting in different commercial projects shutting down. As a result, operations in commercial building sectors such as offices, educational institutions, and the hospitality industry have impacted the market.

  • A commercial boiler is a pressurized system that creates heat by burning a combustible fuel to provide heating for residential and commercial buildings. The burner, combustion chamber, heat exchanger, controls, and exhaust stacks are just a few of the components that make up a commercial boiler.
  • These components are essential for a commercial boiler's optimal operation. However, due to the efficient operation of commercial boilers, governments in various regions, including India, have mandated the installation of safety accessories in commercial boilers under the Code of Federal Regulations (CFR) and the India Boiler Regulation (IBR).
  • Moreover, the escalating demand for space heating in commercial spaces represents the primary factor driving the market growth. Besides this, the rising adoption of energy-efficient solutions, coupled with the increasing investments in developing green buildings to minimize carbon emissions, is augmenting the demand for commercial boilers.
  • Additionally, governments of various countries are taking several favorable initiatives to install new commercial boilers and upgrade the existing ones. Implementing stringent environmental regulations accelerates product adoption rates as modern commercial boiler technologies offer greater efficiency and lower emission discharge.
  • In April 2022, Bosch Commercial & Industrial announced the launch of its latest commercial boiler series, the Condens 7000 WP. The new series replaces the popular Worcester Bosch GB162 V2 with a unique design developed to increase install time with simplicity in mind. Moreover, installers can expect to save up to 60% on average installation times when fitting the Condens 7000 WP compared to the GB162 V2, freeing up time to complete other installs or wider administrative work.

Commercial Boilers Industry Segmentation

The scope of the study focuses on the market analysis of commercial boilers used in different end-user applications. The study includes a detailed breakdown of fuel type, capacity of the boilers, end-user, and a regional breakdown. The impact of COVID-19 on the market and affected segments are also covered under the scope of the study. Further, the disruption factors impacting the market's growth in the near future have been covered in the study in terms of drivers and restraints.

Fuel Type
Natural gas
Oil
Coal
Others
Technology
Condensing
Non-condensing
Capacity
Less Than 10 MMBtu/Hr
10-50 MMBtu/Hr
Others
End-User Industries
Offices
Healthcare
Educational Institutions
Hospitality
Other End-User Industries
Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
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Commercial Boilers Market Size Summary

The Commercial Boilers Market is poised for growth, driven by the increasing demand for energy-efficient heating solutions and the rising adoption of sustainable building practices. Commercial boilers, essential for providing heating in residential and commercial buildings, are experiencing heightened demand due to their efficient operation and the regulatory push for safety and environmental compliance. The market is influenced by various factors, including the need for space heating in commercial spaces, government initiatives to install and upgrade boilers, and the development of green buildings to reduce carbon emissions. The healthcare sector, in particular, is a significant driver of market growth, with investments in infrastructure and the replacement of conventional heating systems further boosting demand.

Regionally, the market is witnessing a shift towards replacing or upgrading existing heating systems to enhance operational efficiency and reduce costs. The focus on reducing carbon emissions and implementing green building codes is augmenting the demand for energy-efficient boilers. Market players are investing in advanced technologies and innovations to meet these demands, with new product launches and strategic partnerships enhancing their competitive edge. The market remains moderately fragmented, with key players like Cochran Limited, Bosch Thermotechnology, and A.O. Smith Corporation leading the way in introducing innovative solutions and expanding their market presence.

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Commercial Boilers Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Buyers

      2. 1.2.2 Bargaining Power of Suppliers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitute Products

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Assessment of the Impact of COVID -19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 Fuel Type

      1. 2.1.1 Natural gas

      2. 2.1.2 Oil

      3. 2.1.3 Coal

      4. 2.1.4 Others

    2. 2.2 Technology

      1. 2.2.1 Condensing

      2. 2.2.2 Non-condensing

    3. 2.3 Capacity

      1. 2.3.1 Less Than 10 MMBtu/Hr

      2. 2.3.2 10-50 MMBtu/Hr

      3. 2.3.3 Others

    4. 2.4 End-User Industries

      1. 2.4.1 Offices

      2. 2.4.2 Healthcare

      3. 2.4.3 Educational Institutions

      4. 2.4.4 Hospitality

      5. 2.4.5 Other End-User Industries

    5. 2.5 Geography

      1. 2.5.1 North America

      2. 2.5.2 Europe

      3. 2.5.3 Asia Pacific

      4. 2.5.4 Latin America

      5. 2.5.5 Middle East and Africa

Commercial Boilers Market Size FAQs

The Commercial Boilers Market is projected to register a CAGR of 4.63% during the forecast period (2024-2029)

Cochran Ltd., Bosch Thermotechnology (Bosch Thermotechnik GmbH), A.O. Smith Corporation, The Fulton Companies and Parker Boiler Inc. are the major companies operating in the Commercial Boilers Market.

Commercial Boilers Report Snapshots

Commercial Boilers Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)