Global Commercial Boiler Market Insights Forecasts to 2033

• The Global Commercial Boiler Market Size Was Valued at USD 4.39 Billion in 2023
• The Market Size is Growing at a CAGR of 5.68% from 2023 to 2033
• The Worldwide Commercial Boiler Market Size is Expected to Reach USD 7.63 Billion by 2033
• Europe is Expected to Grow the fastest during the forecast period.

The Commercial Boiler Market Size is Anticipated to Exceed USD 7.63 Billion by 2033, Growing at a CAGR of 5.68% from 2023 to 2033. The growth of the market is driven by the rise in commercial buildings and improved security for heating equipment. Additionally, the boiler manufacturer is incorporating safety relief valves into current and new boilers to relieve excessive pressure while improving effectiveness and reliability, hence driving the growth of the market.

COMMERCIAL BOILER MARKET REPORT OVERVIEW

A commercial boiler is a system that delivers heating and hot water to non-residential buildings. Typically, these appliances are pressurized systems that use fuel or energy to generate hot water or steam. This hot water or steam is then pumped throughout the building via a network of pipes and used as needed to produce a pleasant atmosphere.

Commercial boiler sales are predicted to climb as the number of commercial and residential buildings grows, as do the safety regulations for heating equipment. Moreover, most commercial boiler producers are installing safety relief valves in existing and new commercial boilers to relieve excess pressure and increase efficiency and performance, which is another important driver of the worldwide market.

The substantial expense of regular cleaning and upkeep. A major commercial boiler manufacturer focuses on designing compact designs as well as energy-efficient commercial boiler accessories. Furthermore, producers produce industrial boilers in compliance with regulatory requirements. This has been a supply-side trend in the global commercial boiler market, which is expected to persist over the forecast period.

According to the federal energy management program, acquisition guidance and efficiency standards apply to gas- or oil-fired, low-pressure hot water or steam boilers used in commercial space heating applications with a rated capacity greater than 2,500,000 and less than 10,000,000 British thermal units per hour.

ENERGY STAR-certified business boilers are 14% more efficient than ordinary versions, saving more than $1,000 in annual energy costs. If all business boilers sold in the United States were ENERGY STAR certified, energy cost savings would exceed $1 billion, while 23 billion pounds of annual greenhouse gas emissions would be avoided, comparable to the emissions of almost 2 million vehicles.

Report Coverage

This research report categorizes the market for the commercial boiler market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the commercial boiler market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the commercial boiler market.

DRIVING FACTORS:

“The use of renewable and inexpensive water systems is increasing to support the growth of commercial boiler market”

The increasing use of highly cost-effective and energy-efficient systems to suit commercial water storage and heating requirements. These boiler manufacturers have incorporated a variety of technologies, including increased digital system integration for effective control and monitoring capabilities, ease of installation, and cheap acquisition prices, which are driving market expansion.

“The progressive developments in boiler design and burning technology are expected to fuel market growth”

The developments in boiler design, combustion technology, and heat transfer systems have resulted in extremely efficient commercial boilers. These boilers can attain greater performance, thus resulting in cost savings for businesses through reduced fuel usage. Condensing boiler technology has grown increasingly popular in the commercial sector, due to its improved energy efficiency and environmental benefits.

RESTRAINING FACTORS

“The costly upkeep expenses of these boilers can hamper the growth of the market”

The greatest significant barrier to market growth is the need for periodic cleaning and maintenance. Whereas periodic washing would improve the boiler's effectiveness and performance.

Market Segmentation

The global commercial boiler market share is classified into fuel type and technology

Which segment is expected to hold the largest share of the global commercial boiler market during the forecast period?

“The natural gas segment is expected to hold the largest share of the global commercial boiler market during the forecast period

Based on fuel type, the global commercial boiler market is classified into natural gas, coal, oil, and others. Natural gas is the most popular fuel in the commercial boiler industry for a variety of reasons. It is readily available and very inexpensive when compared to other fuel sources. Furthermore, natural gas is considered a cleaner fuel than coal or oil, generating fewer pollutants and greenhouse gases. As environmental concerns and laws drive demand for greener energy solutions, natural gas has become the preferred fuel for commercial boiler installations in many areas. Natural gas emits the least pollution when compared to oil and coal as fossil fuels; also, natural gas has a high calorific value, which implies that it produces the most heat during the burning process. Natural gas is also supported by governments worldwide as an alternative to solid fuels because it enhances overall efficiency and minimizes dangerous gas emissions into the environment.

Why condensing technology are most preferred over non-condensing during the forecast period?

The condensing technology is widely used due to its high energy efficiency and is less expensive than others.

Based on technology, the global commercial boiler market is classified into condensing and non-condensing. Condensing technology is primarily connected with condensing boilers used in central or home heating systems. Condensing boilers are typically 15-30% more efficient than non-condensing boilers. For example, an A-rated (condensing) boiler is at least 90% efficient, but a G-rated (non-condensing) boiler could only be 60% effective. When a boiler operates at peak efficiency, it can require less fuel to deliver the same level of central heating. cheaper fuel utilization will result in cheaper energy expenses. Non-condensing boilers pull air from the building, whereas condensing boilers are sealed systems. They exclusively breathe outside air, which enters the structure via the flue pipe. In case of an issue, additional safety systems such as pressure relief valves are going to turn off the boiler.

Regional Segment Analysis of the Global Commercial Boiler Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Which region is expected to hold the largest share of the commercial boiler market over the forecast period?

“Asia-Pacific region is holding the highest share of the global commercial boiler market during the forecast period” 

 Asia Pacific is regarded as the most dominating region in the global commercial boiler market. Countries such as India, China, and Japan account for the majority of the Asia-Pacific region's market share. The region's economic prosperity has resulted in the expansion of a variety of sectors, including offices, hospitals, educational facilities, and hotels. Furthermore, the Asia-Pacific area has developed as a key global manufacturing hub, owing to its diversified manufacturing and processing sectors. China, in particular, has evolved into a high-skilled manufacturing powerhouse, with other developing countries such as India, South Korea, Taiwan, and Vietnam also playing important roles. These nations are attracting enterprises wishing to relocate their low- to medium-skilled manufacturing operations due to the lower labor costs accessible in these areas.

Why Europe is growing at the fastest CAGR in the global commercial boiler market?

Europe is predicted to be the fastest-growing location for commercial boilers. Countries like as the United Kingdom, Germany, and France are driving the growth of the regional commercial boiler market. Among these nations, the United Kingdom relies heavily on low-pressure heating systems in a variety of structures, including healthcare facilities and educational institutions. To address heating demand during extreme cold weather, these enterprises frequently install commercial boiler units with a central plant. The commercial boiler market in the UK is predicted to expand significantly, notably in sectors such as healthcare and retail. There is a tremendous desire in these industries to replace traditional boilers with new and more efficient commercial boilers, which gives an attractive opportunity for industry growth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global commercial boiler market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Weil-McLain Solvay S.A.
• Valliant Group
• Babcock and Wilcox Enterprises
• Ferroli
• Superior Boiler Works, Inc
• Viessmann
• Simoneau Group
• A.O. Smith Corporation
• Bosch Thermotechnology
• Cochran Limited
• Cleaver-Brooks
• Fulton Boiler Company
• Slant/Fin Corporation
• Others

Key Market Developments

• In January 2023, Babcock & Wilcox Enterprises, Inc. partnered with Fidelis, an energy transition firm focused on decarbonization and renewable fuels. The collaboration intends to generate clean hydrogen with a minimal carbon footprint.
• In December 2022, Bharat Heavy Electricals Limited (BHEL) and Sumitomo SHI FW have established an agreement to strengthen BHEL's ability to meet power plant needs and emission limits in India. This agreement will increase sales and production of subcritical and supercritical boilers.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global commercial boiler market based on the below-mentioned segments: 

Global Commercial Boiler Market, By Fuel Type

• Natural Gas
• Coal
• Oil
• Others

Global Commercial Boiler Market, By Technology

• Condensing
• Non-Condensing

Global Commercial Boiler Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa