Commercial Boiler Market is expected to foresee significant growth. North America to lead the growth!
Global Commercial Boiler Market is expected to reach the market valuation of US$ XX billion by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2027) from US$ XX billion in 2020. Water heating is a heat transfer process that uses an energy source to heat water above its initial temperature. Commercial boiler is considered as a pressurized system that uses combustible fuel as the burning medium and generates heat to provide heating for residential and commercial, buildings. The process creates either hot water or steam, depending on the type of boiler. The hot water or steam is circulated via pipes throughout the commercial facility. The water or steam enters radiators or other components that disperse the heat providing the heating that is needed to keep the indoor spaces comfortable. The Global Commercial Boiler Market is experiencing significant growth due to the worldwide increasing investments for the development and expansion of commercial sector operations across different regions, the increasing demand and requirement for instant hot water across hotels, hospitals, care centers and offices and the growing technical advancements towards product design of water heaters are the key factors complementing the light tower adoption.
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The impact of the COVID-19 pandemic is being felt in global real estate markets, with commercial real estate investment volumes falling across all three regions in the first half of the year. Direct commercial real estate investment fell 29 percent globally to US$321 billion in the first six months of 2020 compared to the year-earlier period, according to data from JLL. The drop came amid widespread lockdowns and travel restrictions that stalled investors’ short-term capital deployment plans.
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Based on fuel type, the market is segmented into Natural Gas, Oil, Coal, and Others. Natural gas is the most common fuel used in commercial boilers. Other kinds of boilers are available that burn fuel oil or that use electric resistance coils to produce heating from electricity. Sales of commercial boilers is expected to increase due to rise in the number of commercial and residential buildings, as well as increased safety rules for heating equipment. Based on technology, the market is segmented into Condensing, & Non-Condensing. In 2020, the Non-Condensing segment dominated the Commercial Boiler Market and accounted for XX% market share. Condensing boilers can increase the efficiency of a building’s steady-state heating efficiency from 6% to 18% over standard boiler systems, depending on how the condensing boilers are designed, operated, and the efficiency of the existing boilers. As per the EPA, US, Condensing boiler sales rose from 30% of the commercial boiler market in 2012 to 60% in 2016, and are expected to continue growing.
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Based on capacity, the market is segmented into Less than 10 MMBtu/hr, 10-50 MMBtu/hr, & More than 50 MMBtu/hr. Less than 10 MMBtu/hr segment is expected to witness a considerable CAGR of XX% during the forecast period (2021-2027F) owing to their easy installation along with cost effectiveness over its available counterparts. Based on end user type, the market is classified into Offices, Hospitals, Educational Institutions, Lodging, and Others. The Hospitals segment expected to grow at a CAGR of XX% during the forecast period. For instances, a pharmaceutical company in San Francisco replaced half of their old boilers with condensing boilers, installed a hybrid boiler management system, and saved 30% on fuel costs. In one of the four buildings, savings were US$90,000 per year with a return on investment (ROI) of less than two years.
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For a better understanding of the market, the report provides detailed analysis for major regions including North America (United States, Canada, Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes the largest market in 2020, owing to growing hospitality sector in countries such as US, Canada etc. Some of the major companies operating in the market includes Robert Bosch, A.O. Smith Corporation, Cochran Limited, Cleaver-Brooks, Fulton Boiler Company, Parker Boiler Co., Vaillant Group, Dongfang Electric Corporation Limited, Thermax Limited, Weil-McLain Solvay S.A. etc.
Global Commercial Boiler Market Segmentation
Market Insight, by Fuel Type
- Natural Gas
Market Insight, by Technology
Market Insight, by Capacity
- Less than 10 MMBtu/hr
- 10-50 MMBtu/hr
- More than 50 MMBtu/hr
Market Insight, by End-User
- Educational Institutions
Market Insight, by Region
- North America Commercial Boiler Market
- United States
- Rest of North America
- Europe Commercial Boiler Market
- United Kingdom
- Rest of Europe
- Asia Pacific Commercial Boiler Market
- Rest of Asia-Pacific
- Rest of World Commercial Boiler Market
Top Company Profiles
- Robert Bosch
- A.O. Smith Corporation
- Cochran Limited
- Fulton Boiler Company
- Parker Boiler Co.
- Vaillant Group
- Dongfang Electric Corporation Limited
- Thermax Limited
- Weil-McLain Solvay S.A.