Commercial Boiler Market to Garner Higher Revenue Globally

Commercial Boiler Market projected to hit USD 2.8 billion by 2030

WILMINGTON, DELAWARE, UNITED STATES, September 18, 2023/EINPresswire.com/ --

The global commercial boiler market size was valued at $1.9 billion in 2020, and is projected to reach $2.8 billion by 2030, growing at a CAGR of 4.2% from 2021 to 2030. A commercial boiler is a large heating system designed to provide consistent, reliable, and efficient heating for commercial and industrial buildings. These boilers are significantly more robust and powerful than residential boilers to meet the higher heating demands of larger structures. Commercial boilers are used in a wide range of applications, including office buildings, hotels, hospitals, factories, schools, and apartment complexes.

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Asia-Pacific commercial boiler market is projected to grow at the highest CAGR of nearly 6.1%, in terms of revenue, during the forecast period.

The major companies profiled in this commercial boiler market include

A.O. Smith Corporation,

Bosch Thermotechnology

Cochran Limited

Cleaver-Brooks

Fulton Boiler Company

Parker Boiler

Slant/Fin Corporation

Superior Boiler Works, Inc.

Vaillant Group

Weil-McLain

Boiler Types: There are several types of commercial boilers, including:

Firetube Boilers: These boilers have a cylindrical shell with tubes carrying hot gases through the water. They are durable and suitable for high-pressure applications.

Watertube Boilers: In watertube boilers, water flows through tubes while hot gases surround them. They are known for their efficiency and ability to handle high steam pressures.

Condensing Boilers: Condensing boilers recover heat from flue gases, making them highly efficient and environmentally friendly.

Steam Boilers: These boilers generate steam to distribute heat throughout a building using steam radiators, coils, or underfloor heating systems.

Hot Water Boilers: Hot water boilers circulate heated water to radiators, baseboards, or air handlers to provide space heating.

Surge in emphasis on reducing greenhouse gas (GHG) emissions, as well as the enactment and strengthening of emission limits, are some of the major drivers driving the demand for energy efficient commercial boilers.

The commercial boiler market in the Europe is projected to be driven by a growing preference for environmentally friendly energy products, which is in line with legislation aimed at reducing carbon emissions.

By technology, the non-condensing commercial boiler market is anticipated to witness robust growth subject to government mandates to reduce the greenhouse gas emissions.

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Size and Capacity: Commercial boilers come in various sizes and capacities to accommodate the heating needs of different commercial and industrial facilities. They are available in a wide range of power outputs, often measured in BTUs (British Thermal Units) per hour.

Fuel Types: Commercial boilers can run on a variety of fuels, including natural gas, propane, oil, biomass, and electricity. The choice of fuel depends on factors like availability, cost, and environmental considerations.

By fuel type, the commercial boiler market is divided into oil, natural gas, coal, and others. Natural gas consumption has increased in comparison to other fuels as a result of the government's priority of natural gas, which has resulted in a rise in demand for natural gas in commercial boilers.

By capacity, the market is divided into less than 10 MMBtu/hr, 10-50 MMBtu/hr, 50-100 MMBtu/hr, 100-250 MMBtu/hr, and more than 250 MMBtu/hr. The less than 10 MMBtu/hr segment held the largest market share in 2020. These products are widely deployed across offices, retail stores, healthcare and lodging for heating applications.

By end user, the commercial boiler market for hospitals is anticipated to witness a strong growth on account of growing demand for hot water for sterilization of medical instruments, sheets and for space heating.

Impact Of COVID-19 On The Global Commercial Boiler Market

Some of the major economies suffering from the COVID-19 crises include Germany, France, Italy, Spain, the UK, Norway, and others. Many industries have been shut down due to lack of raw material availability and disruptions in the supply chain, owing to the virus outbreak. The worldwide lockdown has suspended the activities of educational institutions and lodging and many other sectors, which results in declining the demand for commercial boiler.

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Gaps in demand-supply, price volatility, and changes in government policy affect the growth of various end-use industries. In terms of its immediate and long-term effect on industry and consumers, the COVID-19 pandemic has outpaced any headwind ever encountered. The world economy of commercial boiler industries has been experiencing a rapid slowdown due to the constraints of the COVID-19 pandemic on economic activity.

Related Reports:-

Residential Boiler Market by Type (Water Tube, Fire Tube, Electric), by Technology (Condensing, Non Condensing), by Fuel Type (Coal Fired, Oil Fired, Gas Fired, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

Circulating Fluidized Bed Boiler Market by Product (Subcritical, Supercritical, and Ultra-Supercritical), Capacity (Less than 100 MW, 100-200 MW, 200-300 MW, and 300 MW & Above), Fuel Type (Coal, Biomass, and Others), and Application (Energy & Power, Industrial, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

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