North America Commercial Boiler Market Size
Forecasted to rise at 6.3% CAGR from 2024 to 2032, North America Commercial Boiler Market was valued USD 2.5 billion in 2023. Rising efforts toward high dependability and energy efficiency will drive industry development.
To identify important trends in the market
Along with increasing infrastructure investments, the resurgent construction industry is fueling commercial growth and the commercial boiler market. Extreme climatic conditions require advanced hot water systems equipped with smart space heating technologies which in turn will fuel the product penetration. Environmental restrictions and growing consumer awareness promote legislative changes meant to encourage the installation of dependable and efficient heating systems, therefore supporting the industry growth.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| North America Commercial Boiler Market Size in 2023 | USD 2.5 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 6.3% |
| 2032 Value Projection | USD 4.2 Billion |
| Historical Data for | 2019 to 2023 |
| No. of Pages | 180 |
| Tables, Charts & Figures | 410 |
| Segments covered | Fuel, Capacity, Technology, Product, Application |
| Growth Drivers |
|
| Pitfalls & Challenges |
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In this market, what present chances for development?
COVID-19 Impact
The continuous COVID-19 epidemic has harmed the surrounding economy. Large-scale lockdowns have caused many infrastructure projects and commercial activity to be closed. Reduced company operations and social distance policies have put financial limits on commercial businesses and led to a less use of available places. The lockdown policies have especially affected the retail outlets, restaurants, bars, and public assembly sectors, which has resulted in a delay in building improvements and renovations investments.
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North American Commercial Boiler Market Study
Find more on the main players influencing this market.
By 2032 the steam boiler market is expected to expand at a rate of 5.9%. Increasing government expenditure in the healthcare sector in line with ongoing improvement of current facilities will help to favor the market situation. These units mostly used for water heating, autoclave equipment sterilizing, and space heating will drive the industry perspective.
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In 2022, the > 2.5 - 10 MMBtu/hr boiler market accounted for 20% of the commercial boiler market share in North America. Key benefits like minimal initial investment, ease-of-installation and low maintenance drive these devices mostly to public gatherings, homes, offices, schools, institutions and shopping areas. Moreover, increasing customer knowledge of using dependable and effective heating systems would help to create demand for the product.
Technology leads one to categorize the market as both condensing and non-condensing. Growing popularity of condensing boilers for space and water heating across the many business entities like universities, schools, government institutions, and airports would favorably affect the North America commercial boiler market dynamics.
By 2022 the commercial electric boiler market will have crossed USD 200 million in value. The market development will be favorably changed by increasing propensity toward the acceptance of sustainable technologies together with government policies to restrict carbon emissions. The industry statistics will be favored by strong development of green buildings combined with continuous replacement of current boiler units.
Business development will be driven by a paradigm change toward the development of green buildings coupled with government aims to obtain decarbonized & highly energy-efficient building stock in the near terms. Several government rules have required the member states to implement plans to reduce the carbon footprint of different commercial and industrial facilities, therefore improving the situation of the North America commercial boiler market.
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By 2032, the USD 3 billion commercial boiler market in the United States is expected to be Improving commercial sector in conjunction with the fast growth of educational institutions will help to change the business environment. Extreme winter temperatures in the country combined with increasing building expenditure will drive product penetration. The industry revenues will be increased by continuous development of current medical facilities combined with explosive growth of the hospitality sector.
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North America Commercial Boiler Market Share
The key players operating across the market include
- Babcock and Wilcox
- Hurst Boiler and Welding Co.
- Cleaver-Brooks
- Viessmann
- The Fulton Companies
- Columbia Boiler Company
- Miura America Co.
- Clayton Industries
- Superior Boiler Works
- Vapor Power International
- A. O. Smith
- Burnham Holdings Inc.
- Precision Boilers
- Bosch Industriekessel
- WM Technologies LLC
- Vaillant Group
North America Commercial Boiler Industry News
- Bosch Industriekessel presented the ELSB family of boilers in July 2022. The new series aims for extensive range of commercial uses. Operating the device on electricity in line with the power-to---heat concept eliminates the requirement for chimneys, flue gas components, and a fuel delivery infrastructure. Furthermore supporting carbon-neutral technologies and providing cutting-edge characteristics including low emissions and great efficiency to the end users is its support of
- Burnham Holdings added four additional C-Series models, ranging from 125 to 200 hp for commercial use in December 2021. The recently built buildings enhanced BURHMAN's market presence and driven its expansion. Furthermore, this calculated action has improved the company's profile all around.
This market research report on North America commercial boiler 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
Market, By Fuel
- Natural Gas
- Oil
- Coal
- Electric
- Others
Market, 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
Market, By Technology
- Condensing
- Non-Condensing
Market, By Product
- Hot Water
- Steam
Market, By Application
- Offices
- Healthcare Facilities
- Educational Institutions
- Lodgings
- Retail Stores
- Others
The above information has been provided for the following countries
- U.S.
- Canada
- Mexico
Authors Ankit Gupta, Shubham Chaudhary
Frequently Asked Questions (FAQ)
How big is the commercial electric boiler market in North America?
The market size of North America commercial boiler surpassed USD 2.5 billion in 2023 and will expand at 6.3% CAGR during 2023 to 2032, propelled by increasing infrastructural investments and extreme climatic conditions.
What is driving in the demand for steam boilers in healthcare sector?
The steam boiler segment is poised to witness 5.5% growth between 2023 and 2032, as a result of increased government spending on the healthcare system along with continuous upgradation of existing hospitals.
Why is the use of electric commercial boilers growing in North America?
North America commercial boiler industry size from the electric fuel segment was more than USD 200 million in 2022, owing to the adoption of sustainable technologies along with the implementation of government regulations to limit carbon emissions.
Which factors are driving the commercial boiler industry growth in U.S.?
The U.S. commercial boiler sector is slated to reach USD 3 billion by 2032, due to the rapid development of educational institutions and extreme winter temperatures in the country.
Who are the key players operating in the business landscape?
Major participants in the industry’s competitive landscape are Babcock and Wilcox, Hurst Boiler and Welding Co., Cleaver-Brooks, Viessmann, The Fulton Companies, Columbia Boiler Company, Miura America Co., Clayton Industries, Superior Boiler Works.
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