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$4.44+ Billion Worldwide Commercial Boiler Industry to 2031 - Rising Commercial Buildings and Increase in Safety Equipment Drives Growth
Global Commercial Boiler Market
Dublin, Jan. 20, 2023 (GLOBE NEWSWIRE) -- The "Commercial Boiler Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global commercial boiler market.
This report focuses on commercial boiler market which is experiencing strong growth. The report gives a guide to the commercial boiler market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
The global commercial boiler market is expected to grow from $3.47 billion in 2021 to $3.64 billion in 2022 at a compound annual growth rate (CAGR) of 4.81%. The commercial boiler market is expected to grow to $4.44 billion in 2026 at a compound annual growth rate (CAGR) of 5.12%.
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Major players in the commercial boiler market are AO Smith Corporation, Bosch Thermotechnology, Cochran Limited, Cleaver-Brooks, Fulton Boiler Company, Parker Boiler, Slant/Fin Corporation, Superior Boiler Works Inc, Weil-McLain Solvay SA, Dongfang Electric Corporation Limited, Babcock & Wilcox Enterprises Inc, John Wood Group PLC, Alfa Laval AB, ANDRITZ AG, Robert Bosch GmbH, Sofinter Group, Robert Bosch GmbH, Sofinter Group, Byworth Boilers Limited, Baxi and Cheema Boilers Limited.
The commercial boiler market consists of sales of commercial boilers by entities (organizations, sole traders, and partnerships) that are used to provide heating and hot water to a non-domestic building. It is a pressurized system offering steam and hot water to buildings through the use of electricity or burning combustible fuel. With the lesser wastage of energy, commercial boilers keep the commercial building safe and comfortable. Commercial boilers usually have the components such as a burner, heat exchanger, combustion chamber, controllers and exhaust stacks.
The main types of boiler in commercial boiler market are fire tube and water tube. The fire tube is a type of commercial boiler wherein the fire or hot gas is present inside the tubes and water surrounds these fire tubes. These boilers are easy to install and operate. Various fuels used in commercial boilers are natural gas, oil, coal and others through utilizing technologies such as condensing and non-condensing. Commercial boilers are mainly used in offices, warehouse and storage facilities, retail stores, educational institutions, lodgings, public assembly buildings and healthcare facilities.
North America was the largest region in the commercial boiler market in 2021. The regions covered in the commercial boiler market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rising commercial buildings and increase in safety equipment are expected to propel the growth of the commercial boiler market. Commercial buildings such as offices, retail stores, warehouses & storage facilities, and hospitals are rising due to various reasons such as economic development, rapid urbanization, industrial development, and others
. A commercial boiler consists of a pressurized system that uses electricity or burns fuel to heat the water or provide heat in commercial buildings. Commercial boilers keep the commercial buildings safe and comfortable with lesser wastage of energy. Commercial boilers are a safe and cost-effective choice for commercial buildings.
The rising commercial buildings and increase in the safety equipment required will generate demand for commercial boilers as these are an important part of commercial buildings for heat/steam applications. For instance, according to a factsheet by the Center for Sustainable Systems, in the USA, the commercial building floor space is expected to reach 124.3 billion square feet by 2050, showing an increase of 33% from 2020. Thus, the rising commercial buildings and increase in safety equipment will drive the growth of the commercial boiler market.
The launch of innovative boiler systems is a key trend gaining popularity in the commercial boiler market. The commercial boiler market is witnessing the arousal of innovation trends such as the introduction of low NOx (nitrogen oxide) boilers, and high-efficiency boilers with compact designs, reduced carbon footprints, enhanced efficiency, easy installation, and others.
These innovative commercial boilers offer companies increased sales, and an opportunity to gain a competitive edge in the market. For instance, in April 2022, Bosch, a global manufacturer of heating products launched its latest commercial boiler series, the Condens 7000 WP. The new series with new a design is created to increase install time with ease/convenience. It can save up to 60% on average installation times compared to the other models. It also offers the maximum output.
The countries covered in the commercial boiler market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Report Attribute | Details |
No. of Pages | 175 |
Forecast Period | 2022 - 2026 |
Estimated Market Value (USD) in 2022 | $3.64 billion |
Forecasted Market Value (USD) by 2026 | $4.44 billion |
Compound Annual Growth Rate | 5.1% |
Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Commercial Boiler Market Characteristics
3. Commercial Boiler Market Trends And Strategies
4. Impact Of COVID-19 On Commercial Boiler
5. Commercial Boiler Market Size And Growth
5.1. Global Commercial Boiler Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Commercial Boiler Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Commercial Boiler Market Segmentation
6.1. Global Commercial Boiler Market, Segmentation By Boiler Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Fire Tube
Water Tube
6.2. Global Commercial Boiler Market, Segmentation By Fuel Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Natural Gas
Oil
Coal
Others
6.3. Global Commercial Boiler Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Condensing
Non-Condensing
6.4. Global Commercial Boiler Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Offices
Warehouse And Storage Facilities
Retail Stores
Educational Institutions
Lodgings
Public Assembly Buildings
Healthcare Facilities
7. Commercial Boiler Market Regional And Country Analysis
7.1. Global Commercial Boiler Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Commercial Boiler Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/ifp0lc
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