Commercial Boiler Market Size, Share, Growth, Trend 2027 |
Commercial boiler market
The global commercial boiler market was estimated at $ 1.9 billion in 2020 and is projected to reach $ 2.4 billion by 2027, a CAGR of 3.6% over the forecast period (2021-2027). A comprehensive overview of the global Commercial Boiler Market was recently added to its huge database by UnivDatos Market Insights. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints and opportunities. This innovative report uses multiple analyzes to provide a more detailed outlook of the Commercial Boiler Market in a global context. This report provides a detailed analysis of the latest industry developments and trending factors influencing market growth. Additionally, this statistical market research repository studies and estimates the global Commercial Boiler Market on a regional and country level.
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Commercial boilers are made from the five most important accessories, namely the burner, combustion chamber, heat exchanger, control and exhaust chimney, among others. The growing preference for cost-effective heating systems in commercial operations has increased the demand for commercial boilers around the world. For example, according to Energy.gov & Statista, sales of non-condensing commercial and condensing boilers in North America increased from 69,000 units in 2014 to 73,000 units in 2020.
Effects of COVID-19
The effects of the COVID-19 pandemic can be felt on the global real estate markets, with the investment volume of commercial real estate declining in all three regions in the first half of the year. According to JLL, direct investment in commercial real estate in the first six months of 2020 declined 29 percent globally to $ 321 billion compared to the same period last year. The decline came amid widespread lockdowns and travel restrictions that blocked investors’ short-term capital deployment plans. The investment volume in the Americas region recorded the sharpest half-year decline with a 37 percent decline. In the Asia-Pacific region, volumes fell by 32 percent. The EMEA region saw a 13 percent decline in activity, relative outperformance due to pre-COVID deals that continued into the first half of the year.
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The Global Commercial Boiler Market report is thoroughly studied with various aspects that would assist the stakeholders in making their decisions in a more curated manner.
By fuel type, the market is mainly divided into:
• natural gas
The natural gas segment is expected to grow at a CAGR of -% over the forecast period and achieve a market valuation of – billion USD by 2027, as natural gas improves overall efficiency and reduces emissions of harmful gases.
By technology, the market is mainly studied in:
• Not condensing
Based on the technology, the non-condensing segment dominated the commercial boiler market, accounting for -% market share. However, condensing boilers can increase the efficiency of the stationary heating efficiency of a building from 6% to 18% compared to standard boiler systems, depending on the design, operation and efficiency of the existing boilers.
According to capacity, the market is mainly studied in:
• Less than 10 MMBtu / h
• 10-50 MMBtu / h
• More than 50 MMBtu / h
Based on capacity, in 2020 the boiler segment with less than 10 MMBtu / h dominated the market due to its ease of installation and cost efficiency over its available counterparts. In addition, they provide plenty of hot water for almost all small commercial applications.
By the end user, the market is mainly studied in:
• Educational institutions
Based on end user type, the hospital segment is projected to grow at a CAGR of -% over the forecast period to reach a market valuation of USD – billion by 2027, due to increasing investment in advanced healthcare infrastructure and the subsequent increase in heating demand systems such as blowers, geysers and others in health care facilities for the functioning of the required indoor heating.
The global segmentation of the Commercial Boilers Market includes:
• North America
• Asia Pacific
• Rest of the world
Based on the estimate, North America dominated the market in 2020 and is expected to maintain its dominance during the forecast period (2021-2027).
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The main players targeting the market include:
• Robert Bosch
• AO Smith Corporation
• Cochran Limited
• Cleaver Brooks
• Fulton Boiler Company
• Parker Boiler Co.
• Vaillant Group
• Dongfang Electric Corporation Limited
• Thermax Limited
• Weil-McLain Solvay SA
The degree of competition between prominent companies was identified by analyzing several leading key players in a global context. The specialist team of research analysts sheds light on various characteristics such as global market competition, market share, the latest industry advances, innovative product launches, partnerships, mergers or acquisitions by leading companies in the global Commercial Boiler Market. The main players have been analyzed using various research methods to gain insights into market competition.
Key Questions Solved By This Analytical Market Research Report Include:
• What are the latest trends, new patterns, and technological advances in the global Commercial Boiler Market?
• What factors will affect the global Commercial Boiler Market during the forecast period?
• What are the global challenges, threats, and risks in the global Commercial Boiler Market?
• What factors are driving and restraining the global Commercial Boiler Market?
• What are the demanding global regions of the Commercial Boiler Market?
• How big will the market be in the next few years?
• What are the companies’ key market acquisition strategies and guidelines?
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