The commercial hot water boilers market is increasing, reaching 10.3 billion dollars in 2023. It will continue to grow, reaching a growth rate of 7.6% per year between 2024 and 2032. These boilers are basically systems that produce hot water for companies. They apply pressure and burn various fuels to heat the water, which they pump through pipes to deliver heat. They are widely employed in institutions such as universities, schools, government offices, and airports. The real estate boom created by construction activities and also government-friendly regulations are supporting the growth of the industry.
Growing government expenditure coupled with huge investments by the public & private participants within the healthcare sector will benefit the business environment. High government regulations to constrain carbon output in accordance with increasing deployment of multiple boilers for enhancing reliability will propel the business environment. The product provides vital advantages such as low installation cost and time and high efficiency, which drive the industry potential.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Commercial Hot Water Boiler Market Size in 2023 | USD 10.3 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 7.6% |
| 2032 Value Projection | USD 19.9 Billion |
| Historical Data for | 2019 to 2023 |
| No. of Pages | 600 |
| Tables, Charts & Figures | 1,535 |
| Segments covered | Fuel, Capacity, Technology, Application |
| Growth Drivers |
|
| Pitfalls & Challenges |
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What are the growth prospects in this market?
COVID– 19 Impact
The COVID- 19 pandemic influenced the commercial hot water boiler market quite extensively. There was disruption in the supply chain since manufacturing units experienced difficulties due to lockdown, labor shortages, and transport restrictions. This caused delays and breaks in the manufacture and supply of the boilers. The reduced demand from the areas of application such as hospitality, tourism, and commercial building development helped in lowering the market.
Commercial Hot Water Boiler Market Analysis
The commercial hot water boiler industry of > 2.5 - 10 MMBtu/hr capacity size segment is anticipated to exceed USD 2.5 billion by 2032. Extensive use of these units in commercial establishments such as assemblies, lodgings, offices, schools, institutions, retail complexes, and healthcare facilities will propel the business landscape. These low-capacity units provide important benefits such as ease-of-installation, negligible O&M cost and instant hot water supply, which in turn will spur product penetration.
The condensing technology commercial hot water boiler market will expand at a high CAGR until 2032 due to its major benefits such as minimal environmental pollution, high efficiency, and low heating expenses. In addition, the focus of governments toward carbon footprint reduction and energy conservation will have a favorable impact on product penetration. Governments, organizations, and companies globally are adopting strategies to minimize energy usage and reduce greenhouse gas emissions. Condensing technology allows the boilers to attain greater levels of efficiency by recovering and recycling heat from flue gases, hastening business opportunities.
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The market for commercial electric boilers is expected to grow at 13.5% CAGR during 2032, in response to mounting demands for such heating devices, prompted by the efficacy of energy, environmental issues, and technology in line. The market for commercial hot water boilers will see growth due to rising foreign investments towards the construction of commercial buildings and the skyrocketing replacement of traditional heating equipment. These units are in high demand especially in the countries where the government has set stringent regulations for lowering dependence on fossil fuel.
The accommodation application accounts for a 10% share of the commercial hot water boiler industry in 2022. Thriving tourism industry coupled with strong hotel and resort development will drive product uptake. Strict government regulations regarding building emissions coupled with rising consumer purchasing power will support the business scenario. Altered climatic patterns mainly in the cold regions coupled with mounting attempts to regulate temperature within the premises will drive business growth.
The size of the Europe commercial hot water boiler market exceeded USD 3.2 billion in 2022. Severe climatic conditions as well as the launch of encouraging government schemes and rebates to spur the uptake of clean technologies will enhance the business environment. Increasing foreign investment in commercialization as well as encouraging government schemes for the establishment of manufacturing units will drive the business outlook. Commercial boiler industry globally is expected to grow up to USD 24.8 billion by 2032.
North America commercial boiler market will experience a significant momentum over the forecast period, driven by harsh winter temperatures and increasing construction expenditures will fuel product penetration. Expansion in space heating requirements, low winter temperatures, and upgradation of the commercial facilities are some of the most important parameters, supporting the industry growth. Stringent standards for emission control backed by national targets in accordance with continuous infrastructural growth based on the re-emergent construction industry will propel the product implementation.
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Commercial Hot Water Boiler Market Share
The key players operating across the commercial hot water boiler market include
- Cleaver-Brooks
- VIESSMANN
- FERROLI S.p.A
- Bosch Industriekessel GmbH
- Thermal Solutions
- Columbia Boiler Company
- PARKER BOILER
- Slant/Fin Corporation, P.M
- Lattner Manufacturing Co.
- Precision Boilers
- Remeha
- Energy Kinetics
- The Fulton Companies
- MESTEK
- Hurst Boiler & Welding Co.
Commercial Hot Water Boiler Industry News
- In January 2022, PARKER BOILER installed high-pressure hot water boilers, providing heat to a bunker hill tower in Los Angeles, U.S. Tie-ins were made to the building’s existing piping, heat exchangers & hot water storage tanks, enabling the system to provide reliable heat for the building. A room pressurization control & draft inducing systems were provided by Enervex. PARKER BOILER’s installation blended all system component, and the system went online in December 2021.
- In April 2021, Remeha CHP systems delivered a highly efficient solution to heating and hot water at the Chester care home in the UK. The company installed Remeha R-Gen SenerTec Dachs Gen 2 5.5 CHP to meet these requirements. Three Remeha Quinta Ace 115 wall-hung condensing boilers were selected to work alongside the CHP to meet peak heat demand. CHP produces useful heat and electricity at the point of use in a single, highly efficient process. Rather than rejecting waste heat to the atmosphere as traditional power stations do, CHP captures it to produce useful thermal energy.
This commercial hot water 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
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Market, By Fuel
- Natural Gas
- Oil
- Coal
- Electric
- Others
Market, By Capacity
- ≤ 0.3 - 2.5 MMBtu/hr
- > 2.5 - 10 MMBtu/hr
- > 10 - 25 MMBtu/hr
- > 25 - 50 MMBtu/hr
- > 50 MMBtu/hr
Market, By Technology
- Condensing
- Non-Condensing
Market, By Application
- Offices
- Healthcare Facilities
- Educational Institutions
- Lodgings
- Retail Stores
- Others
The above information has been provided for the following regions and country
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- UK
- Poland
- Italy
- Spain
- Austria
- Germany
- Sweden
- Russia
- Asia Pacific
- China
- India
- Philippines
- Japan
- South Korea
- Australia
- Indonesia
- Middle East & Africa
- Saudi Arabia
- Iran
- UAE
- Nigeria
- South Africa
- Latin America
- Argentina
- Chile
- Brazil
Frequently Asked Questions (FAQ)
How big is the commercial hot water boiler market?
The market size of commercial hot water boiler reached USD 10.3 billion and will surpass USD 19.9 billion by 2032, says this GMI report.
Why are electric commercial hot water boilers in high demand?
The electric commercial hot water boiler market share will witness a 13.5% CAGR from 2023 to 2032, due to factors including energy efficiency, environmental concerns, and technological advancements.
What is the Europe commercial hot water boiler industry size?
Europe market size held more than USD 3.2 billion in 2022, owing to factors like extreme climatic conditions along with the introduction of favorable government schemes and rebates to increase the adoption of clean technologies.
Who are the leading manufacturers in global commercial hot water boiler landscape?
Cleaver-Brooks, VIESSMANN, FERROLI S.p.A, Bosch Thermal Solutions, Columbia Boiler Company, PARKER BOILER, Slant/Fin Corporation, P.M. Lattner Manufacturing Co., Precision Boilers, Remeha, Energy Kinetics, The Fulton Companies, MESTEK, Hurst Boiler & Welding Co.
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