Commercial Boiler Market worth USD 2.4 billion by 2027 – Industrial IT

Market Statsville Group (MSG) publishes the new report on “Commercial Boiler Market by Fuel Type (natural gas, oil, coal and others), by Technology (condensing and non-condensing), by capacity (less than 10 MMBtu / h, 10- 50 MMBtu / h and others), by end-user (offices, hospitals, educational institutions, accommodations and others), by region – global share and forecast to 2027 “. In 2020, the global commercial boiler market size was 1.9 billion in 2020 and is expected to grow by 2.4 billion USD through 2027, at a CAGR of 4.2% over the forecast period. There is likely to be greater demand for energy-efficient solutions in the future. Energy efficient boilers are required to reduce future operating costs, capital investments and utility system costs. The performance of operating boilers is an important factor in the efforts of commercial establishments to reduce operating costs. The efficiency of a boiler is determined by the ratio of thermal output to the amount of fuel used for maintenance and engineering work in various industries, companies that want to achieve efficient boiler output. According to the US Department of Energy, conventional heating systems have an efficiency of 56 to 70%, which represents a significant loss of energy. Modern boilers and water heaters, on the other hand, have an efficiency of over 80%, which leads to considerable energy savings when used by many people.

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Global Commercial Boiler Market Segmentation

The Commercial Boiler Market has been segmented into fuel type, technology, end-user, and region.

  • By fuel type (natural gas, oil, coal and others)
  • By technology (condensing and non-condensing), by capacity (less than 10 MMBtu / h, 10-50 MMBtu / h and others)
  • By end user (offices, hospitals, educational institutions, accommodations and others)
  • By region (USA, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, United Arab Emirates, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina , Peru)

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The non-condensing components segment is expected to have the largest market share by technology throughout the planned period

On the basis of technology, the Commercial Boiler market is divided into condensing and non-condensing. In 2020, the non-condensing boiler segment achieved the largest market share of 51.4% in the commercial boiler market. A non-condensing boiler has a single heat exchange chamber through which hot gases from the burner flow to heat the water inside the heat exchanger walls before it exits through the flue.

A non-condensing boiler works despite the weather conditions. With this type of boiler, no pipe should be carrying the water from the back of the boiler so that under no circumstances can the pipes freeze and there is no possibility that the pipes will get cold or cause serious damage to the workplace. In addition, these gas boilers are cheaper than condensing boilers. These are small and have a contemporary style. For example, SVL offers RBI 8800 series boilers designed to operate reliably and efficiently in a wide variety of commercial boiler and hot water system applications. The 8800 is the ideal non-condensing alternative for applications that require large amounts of hot water such as schools, hotels, laundries, hospitals and car washes.

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Asia Pacific has the largest market share in the commercial boiler market of 2020

Regionally, the commercial boiler market is divided into North America, the Asia-Pacific region, Europe, South America, and the Middle East and Africa. In 2020, the Asia-Pacific region led the world boiler market with a market share of 41.1% of the global commercial boiler market and is expected to maintain its dominance throughout the forecast period. Asia Pacific includes China, Japan, India, South Korea, and the rest of the Asia Pacific region. It is estimated that this region has the fastest growth rate and the highest potential for commercial boilers of any region in the world. Asia-Pacific is one of the fastest growing regions due to countries like India, China, and Japan. Developments in the region’s economy are driving growth in a number of sectors such as offices, hospitals, education and housing.

The rapid development is attributed to the increasing demand for boilers in China. Many developing countries in the region are experiencing a rapid expansion of their industries. The region has developed into a global manufacturing center with a large number of manufacturing and processing companies. Along with China’s transformation into a high-skilled manufacturing base, other developing countries such as India, South Korea, Taiwan, and Vietnam are fueling the growth of companies looking to relocate their low- to medium-skilled manufacturing operations to countries with lower labor costs.

This research report includes a study of the development and marketing strategies, as well as a study of the product portfolios and success strategies of the leading companies in the commercial boiler market. It also consists of leading companies such as Cochran Limited, Bosch Thermotechnology, AO Smith Corporation, Parker Boiler, Slant / Fin Corporation, Cleaver-Brooks, Fulton Boiler Company, Vaillant Group, Weil-McLain and Superior Boiler Works, Inc., holding a major Market share. These market players have focused on acquisitions and expansion in order to gain greater market share in the commercial boiler market.

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