U.S. Boiler Market size surpassed USD 4.1 billion in 2023 and is anticipated to expand at 5.3% CAGR from 2024 to 2032, attributed to the increasing infrastructural investments along with changing consumer preferences towards modular boiler systems.
To get key market trends
By 2032, the revenue of boilers globally is likely to hit USD 180 billion. The reasons such as ongoing industrialization and rising investments towards the establishment of more manufacturing units are expected to result in constant growth in the U.S. market. The future of the U.S. boiler industry will be fueled by the adoption of emissions reduction regulations intended to reduce greenhouse gas emissions and the substitution of traditional steam generators with efficient boilers. Additionally, the adoption of state government regulations intended to facilitate the development and expansion of commercial and industrial structures will drive industry dynamics.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| U.S. Boiler Market Size in 2023 | USD 4.1 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 5.3% |
| 2032 Value Projection | USD 6.5 Billion |
| Historical Data for | 2019 to 2023 |
| No. of Pages | 1,050 |
| Tables, Charts & Figures | 4,311 |
| Segments covered | Fuel, Capacity, Application, Technology, Product |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
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What are the market growth opportunities?
COVID– 19 Impact
The economy has been negatively impacted by the ongoing COVID- 19 pandemic. The enforcement of large-scale lockdown measures has caused closure of various businesses and infrastructure projects. This has severely impacted retail stores, restaurants and bars, public events, and the manufacturing industry. Moreover, the low supply of workers has also impacted the demand for boilers. The sector has bounced back and got its momentum back in 2021 with the strong economic growth coupled with a growing consumer demand for goods and services.
U.S. Boiler Market Analysis
Natural gas market will be valued at over two billion by 2022. Natural gas, as a fuel source, is relatively inexpensive and usually abundant in the United States. Compared to other fossil fuels, this one is cleaner-burning, lowering greenhouse emissions and pollution. The environmental advantages of natural gas appeal to industries and companies seeking an answer. The ongoing transformation in the direction of greener sources of energy and paradigm shift towards energy efficiency will aid in the growth of the United States boiler market.
Learn more about the key players driving this market.
Spurred by the growth in commercial structures containing retail shops, offices, nursing homes, and schools, the market for 0.3 – 2.5 MMBtu/hr capacity boilers is expected to breach a value of USD 450 million by 2032. Trending shifts towards processed food and beverages consumption accelerates this growth even more.
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Through 2032, the condensing technology will grow at 10.4% rate. Greater energy efficiency enabled by this technology renders conventional non-condensing boilers to be less efficient than Adoption of these units is a consequence of increasing concern for environmental sustainability and energy efficiency. Tighter energy efficiency requirements and building regulations in the business sector will assist further in projecting a positive scenario for boiler market in the United States.
Learn more about the key segments shaping this market
The product type of hot water boiler retains industry share of approximately 40% during 2022. The industry will experience a surge due to a rising population index and rate of urbanization. Increased construction activities, especially in the commercial segment, are propelling the product demand. A rising rate of urbanization along with the launch of stringent emission regulations to install advance heating systems will benefit the business scenario.
Steam boiler industry is expected to expand due to its rising demand from different sectors such as power generation, chemical, food and beverage, and manufacturing units. The demand has gained momentum due to the rising replacement work across commercial premises and industries. Increasing technological developments boiler design that allows natural gas, shale gas and electricity to be used as the feedstock of choice will fuel the business development.
The commercial boiler industry will have been worth USD 1.6 billion by 2022. The positive outlook of the growth of the healthcare sector coupled with the increasing need for diagnostic centers will assist in producing the business figures. The old heating systems have been upgraded by government regulations intended to be towards zero-emission buildings, which will have significant growth opportunities. In addition, increasing emphasis is put on reducing the adverse effects of carbon emissions, promoting demand for energy-efficient boilers.
Find regionally specialized statistics. 5.1% growth rate in the East North Central boiler market is forecasted for 2023–2032. Continuous economic growth and increasing investments towards industrial infrastructure upgradation will transform the industry landscape. Boilers will be embraced even more by growing per capita incomes and rising demand for food processing plants. Additionally supporting the business growth will be additional investment across the chemical industry. Among the key drivers that will aid the market's growth are the rising space heating need, low winter temperatures, and renovation of existing commercial buildings.
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U.S. Boiler Market Share
Major players operating across the U.S. boiler industry players are include
- A. O. Smith
- AERCO
- Babcock & Wilcox Enterprises,Inc
- Bradford White Corporation
- BURNHAM COMMERCIAL BOILERS
- Clayton Industries
- Cleaver-Brook
- Columbia Boiler Company
- Energy Kinetics
- General Electric
- HTP
- Hurst Boiler & Welding Co,Inc
- Lennox International, Inc
- Miura America Co,Ltd
- P.M. Lattner Manufacturing Co
- PARKER BOILER
- PB HEAT,LLC
- Precision Boilers
- Rentech Boilers
- Slant/Fin Corporation
- The Fulton Companies
- Thermal Solutions LLC
- U.S. Boiler Company,LLC
- Victory Energy Operations,LLC
- Weil-McLain.
U.S. Boiler Industry News
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In January 2023, Clayton Industries completed the installation of 600 hp E series commercial boilers with tailor-made steam solutions for their Midwest corrugation plant. The E series boiler is from 150 to 2,000 boiler horsepower. Besides, it has different features such as skid mounting, containerizing, fired steam generators, and fully modulated automatic controls.
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The Fulton Companies introduced a traditional steam boiler in May 2022. The new boiler is a compact, vertical tubeless boiler. Classic utilizes tried-and-tested technology to produce steam economically and provide rugged, aggressive, and dependable operations. Moreover, Classic steam boilers are exempt from costly and time-consuming SBG01 non-destructive testing procedures.
This U.S. 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
Market, By Fuel
- Natural Gas
- Oil
- Coal
- 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
- > 250 MMBtu/hr
Market, By Technology
- Condensing
- Non-Condensing
Market, By Product
- Hot Water
- Steam
Market, By Application
- Commercial
- Offices
- Healthcare Facilities
- Educational Institutions
- Lodgings
- Retail Stores
- Others
- Industrial
- Food Processing
- Pulp & Paper
- Chemical
- Refining
- Primary Metal
- 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 D.C.
- 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
Frequently Asked Questions (FAQ)
How big is the U.S. boiler market?
The market size of U.S. boiler exceeded USD 4.1 billion in 2023 and is expected to depict 5.3% CAGR from 2024 to 2032, explains GMI report.
Why is condensing technology preferred in boiler manufacturing in the U.S?
The condensing technology segment will expand at 10.4% growth rate during 2023-2032 as it allows for higher energy efficiency compared to traditional non-condensing boilers.
Which region in the U.S. is lucrative for boiler manufacturers?
The East North Central U.S. boiler industry size will observe around 5.1% growth till 2032 owing to the ongoing economic development and increasing investments towards the upgradation of industrial facilities.
Who are the key manufacturers in the U.S. boiler competitive landscape?
Major U.S. boiler industry players are A. O. Smith, Bradford White Corporation, BURNHAM COMMERCIAL BOILERS, Columbia Boiler Company, Energy Kinetics, General Electric, HTP, Lennox International, PARKER BOILER, PB HEAT, Slant/Fin Corporation, The Fulton Companies, U.S. Boiler Company, Victory Energy Operations, and Weil-McLain.
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