U.S. Commercial Boiler Market Size
Expected to reach over 6% CAGR from 2024 to 2032, U.S. Commercial Boiler Market size crossed USD 2.1 billion in 2023. The business scenario will be favored by the increasing acceptance of high efficiency water heating systems together with rising investment in sustainable buildings.
To identify important trends in the market
Rising upgrade and replacement of conventional heating systems with energy efficient systems is likely to reach USD 24.5 billion value by 2032 in the worldwide commercial boiler industry. Rising initiatives to lower carbon emissions and government policy execution will help to influence corporate development in the right direction. Rising expenditures for infrastructure development along with strong commercial center growth will help to favor the industry situation.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| U.S. Commercial Boiler Market Size in 2023 | USD 2.1 billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 6% |
| 2032 Value Projection | USD 3.5 Billion |
| Historical Data for | 2019 to 2023 |
| No. of Pages | 1,050 |
| Tables, Charts & Figures | 3,147 |
| Segments covered | Fuel, Technology, Application, Product, Capacity |
| Growth Drivers |
|
| Pitfalls & Challenges |
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What are the growth opportunities in this market?
COVID– 19 Impact
The COVID- 19 pandemic significantly impacted the U.S. commercial boiler market by disrupting the supply chain, leading to delays in production and delivery. Limited construction activities due to lockdowns and economic uncertainties resulted in a slowdown in the demand for these boilers. The pandemic's overall effect was a decrease in market growth and a challenging business environment for the commercial boiler business.
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U.S. Commercial Boiler Market Analysis
Learn more about the key segments shaping this market
Based on application, the U.S. commercial boiler market is segmented as offices, healthcare facilities, educational institutions, lodgings, retail stores and others. Healthcare application was valued at over USD 550 million in 2022. The sector deploys these heating systems for space heating, water heating and equipment sterilization. Growing demand for the diagnosis centers coupled with surging investment toward the development of healthcare facilities will fuel product penetration.
Based on fuel, the market is segmented as natural gas, oil, coal and others. The gas fired boiler market is set to register at a 4.8% CAGR from 2023 to 2032. The increasing emphasis on cleaner fuels in line with implementation of strict regulations and mandates to limit carbon emissions will drive the adoption of these units. Moreover, the presence of a strong gas supply network throughout the region will contribute to the business growth.
The ≤ 0.3 - 2.5 MMBtu/hr capacity commercial boilers market will witness a growth rate of 5.5% through 2032. Wide scale deployment of these units across universities, public assembly, lodgings, retail stores, and healthcare facilities will propel the business landscape. These boilers are preferred owing to their vital features including easy installation, low maintenance cost, and high efficiency.
Based on technology, the U.S. commercial boiler market is segmented as condensing and non-condensing. The introduction of favorable government policies including tax incentives and schemes will influence the condensing boiler industry. The key advantages including low carbon footprint, low heating expenses, and improved energy efficiency will in turn accelerate the industry potential. The sector has experienced a growing adoption of cost-effective and efficient systems to meet their water heating and storage needs across the country.
Learn more about the key segments shaping this market
Based on product, the market is segmented as hot water and steam. The commercial hot water boiler market captured approximately 60% of the U.S. commercial boiler market share in 2022. Consumers are increasingly adopting new heating systems in order to comply with energy efficiency guidelines, stringent building standards and codes, as well as the provisions of green building and LEED certification. This trend has led organizations to replace their existing systems with more environmentally friendly options, boosting the business dynamics.
Looking for region specific data?
The South Atlantic boiler market is set to surpass USD 650 million by 2032. The flourishing hospitality sector combined with expansion of existing medical facilities will augment the business landscape. Growing tourism industry along with robust development of hotels, resorts, and other related establishments will escalate the industry outlook. Additionally, the expansion of retail stores in line with the surging replacement of traditional heating units, will further stimulate the business landscape. Increasing demand for space heating, low winter temperatures, and the upgrading of existing commercial facilities will stimulate the industry outlook.
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U.S. Commercial Boiler Market Share
The major players operating in the U.S. commercial boiler market includes
- Babcock & Wilcox Enterprises, Inc.
- Hurst Boiler & Welding Co, Inc.
- Cleaver-Brooks
- Weil-McLain
- BURNHAM COMMERCIAL BOILERS
- Thermal Solutions LLC
- Columbia Boiler Company
- Bradford White Corporation
- PB HEAT, LLC.
- PARKER BOILER
- Slant/Fin Corporation
- P.M. Lattner Manufacturing Co.
- Precision Boilers
- HTP
- Energy Kinetics
- AERCO
- Miura America Co., LTD.
- The Fulton Companies
- Clayton Industries
U.S. Commercial Boiler Industry News
- In March 2022, HTP launched a new elite ultra-duo boiler for commercial applications. The latest system incorporates two heat exchangers, offering inherent redundancy in operations. With firing rates ranging from 285,000 to 399,000 Btu, the boiler ensures energy savings with an impressive Annualized Fuel Utilization Efficiency (AFUE) of up to 96%. The use of high-grade stainless steel guarantees exceptional quality and resistance to corrosion. The heat exchanger design incorporates a significantly larger pipe surface area, up to 400% more than conventional designs, ensuring excellent performance and minimal drop in water pressure. The introduction of this new boiler system will further enhance HTP's market presence worldwide.
- In January 2022, PARKER BOILER successfully installed high-pressure hot water boilers to supply heat to a bunker hill tower in Los Angeles, U.S. The installation involved connecting the boilers to the existing piping, heat exchangers, and hot water storage tanks of the building, ensuring a dependable heat source. Enervex provided room pressurization control and draft inducing systems for the project. PARKER BOILER seamlessly integrated all the system components, and the entire system became operational in December 2021.
This U.S. commercial boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units”, “MMBtu/hr” & “USD” from 2019 to 2032, for the following segments
By Fuel
- Natural gas
- Oil
- Coal
- Others
By Capacity
- ≤ 0.3 - 2.5 MMBtu/hr
- > 2.5 - 10 MMBtu/hr
- > 10 - 50 MMBtu/hr
- > 50 - 100 MMBtu/hr
- > 100 - 250 MMBtu/hr
By Technology
- Condensing
- Non-condensing
By Product
- Hot Water
- Steam
By Application
- Offices
- Healthcare Facilities
- Educational Institutions
- Lodgings
- Retail Stores
- Others
The above information has been provided for the following regions and states
- East North Central
- Illinois
- Indiana
- Michigan
- Ohio
- Wisconsin
- West South Central
- Arkansas
- Louisiana
- Oklahoma
- Texas
- South Atlantic
- Delaware
- Florida
- Georgia
- Maryland
- North Carolina
- South Carolina
- Virginia
- West Virginia
- Washington DC
- North East
- Connecticut
- Maine
- Massachusetts
- New Hampshire
- Rhode Island
- Vermont
- New Jersey
- New York
- Pennsylvania
- East South Central
- Alabama
- Kentucky
- Mississippi
- Tennessee
- West North Central
- Iowa
- Kansas
- Minnesota
- Missouri
- Nebraska
- North Dakota
- South Dakota
- Pacific States
- Alaska
- California
- Hawaii
- Oregon
- Washington
- Mountain States
- Arizona
- Colorado
- Utah
- Nevada
- New Mexico
- Idaho
- Montana
- Wyoming
Authors Ankit Gupta, Shubham Chaudhary
Frequently Asked Questions (FAQ)
What is the size of the U.S. commercial boiler market?
The market size of U.S. commercial boiler reached USD 2.1 billion in 2023 and is estimated to exceed USD 3.5 billion by 2032 driven by the increasing adoption of high-efficiency water heating systems, along with growing investment toward sustainable buildings.
Why are commercial hot water boilers gaining traction?
The commercial hot water boiler market held more than 60% share of the overall industry revenue in 2022 and is set to expand substantially through 2032 as consumers increasingly adopt new heating systems to comply with energy efficiency guidelines.
How big is the South Atlantic commercial boiler market?
The South Atlantic commercial boiler market valuation is expected to surpass USD 650 million by 2032 attributed to the flourishing hospitality sector, along with the expansion of existing medical facilities.
Who are the prominent players in the U.S. commercial boiler market?
Babcock & Wilcox Enterprises, Hurst Boiler & Welding Co, Cleaver-Brooks, Weil-McLain, Burnham Commercial Boilers, Thermal Solutions LLC, Columbia Boiler Company, Bradford White Corporation, PB HEAT, LLC., PARKER BOILER, Slant/Fin Corporation, P.M. Lattner Manufacturing Co., Precision Boilers, HTP, Energy Kinetics, AERCO, Miura America Co., The Fulton Companies and Clayton Industries are the major companies in the market.
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