Commercial Boiler Market | Growth, Competitive Analysis and Forecast to 2028
The global commercial boiler market could exceed 400,000+ units annual installation by the end of 2028
The commercial boiler market is very attractive in the hospitality and healthcare sectors. Educational institutions, offices and retail stores are also generating great demand for economical and energy-efficient heating solutions. Modern commercial boiler technologies are characterized by higher efficiency and lower emissions.
Device adoption is likely to increase in the near future due to the tightening of energy efficiency regulations across the commercial sector. Based on the above factors, it is estimated that the global commercial boiler market could exceed more than 400,000 units annual installation by the end of 2028. Let’s examine some key trends and developments that outline the growth of the market in the years to come.
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Oil boiler – an economical long-term solution for commercial applications
Oil-fired boilers are expected to see strong demand across the commercial sector. Over the years, the use of these boilers has stagnated due to safety concerns and the availability of alternatives such as gas-fired systems. In the long run, however, oil-fired systems prove to be very economical and energy efficient, which promotes their acceptance. Simple raw material availability, cost advantages and efficient operation make these boiler systems a promising option for the commercial sector.
Promising opportunities for commercial boiler manufacturers across the healthcare sector
The healthcare sector will have a significant share of the commercial boiler market by 2028. Improving health infrastructure is a high priority for policy makers around the world, which is constantly driving new investment. An exponential increase in hospital admissions due to the recent COVID-19 pandemic has further accelerated investments in healthcare. The increasing expenses for installing new boiler systems and upgrading existing ones will benefit commercial boiler manufacturers worldwide.
Condensing boilers – why is technology replacing conventional boiler systems
The commercial condensing boiler industry is expected to grow significantly by 2028. With the introduction of stricter energy efficiency standards and continued efforts to conserve energy, these boilers are gradually replacing conventional boiler systems used in commercial applications. Condensing boilers offer numerous advantages, including higher efficiency, compact design and easy installation.
Strict energy efficiency standards for lighting the European market for commercial boilers
Due to the demand for efficient district and space heating in the commercial sector, the use of commercial boilers is expected to gain momentum in Europe. Strict energy efficiency regulations drive both new boiler systems and the replacement of conventional systems. Europe is home to a large number of corporations, trading companies and educational institutions, making it a promising market for commercial boiler manufacturers.
AO Smith, Weil McLain, Fulton, and Babcock & Wilcox are some of the notable names in the commercial boiler business. These companies are expanding their distribution networks to allow boiler solutions to be readily available on the market. Product innovation is also an important focus for manufacturers in order to stay one step ahead of the competition.
Commercial boiler companies will see many opportunities in the near future as the need for reliable, economical, and energy efficient district and space heating solutions increases. For example, in October last year, Babcock & Wilcox secured a $ 4 million contract from Creative Energy to supply two boilers for a district heating project in Vancouver.
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COMTEX_391245511 / 2773 / 2021-08-09T06: 42: 56