U.S. Commercial Boiler Market
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U.S. Commercial Boiler Market was valued at USD 2.32 billion in 2023 and is set to grow at a CAGR of 6% from 2024 to 2032. The participation of public players along with federal and state governments for the development and expansion of the commercial facilities has initiated a favorable business scenario.
A commercial boiler is an essential piece of equipment in various industries providing a reliable source of heat and hot water for a wide range of applications. They operate efficiently to deliver consistent heating and hot water, crucial for daily operations and maintaining comfort levels within large facilities. The modern commercial boilers are equipped with advanced features like energy efficiency controls, safety mechanisms, and automation capabilities, ensuring optimal performance, reduced operational costs, and compliance with stringent environmental regulations.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| U.S. Commercial Boiler Market Size in 2023: | USD 2.32 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 6 |
| 2023 Value Projection: | USD 3.91 Billion |
| Historical Data for: | 2021 to 2023 |
| No of Pages: | 150 |
| Tables, Charts & Figures: | 40 |
| Segments Covered: | Fuel, Technology, Application, Product, Capacity & Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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Low winter temperatures, increasing space heating demand in line with surging upgradation of the existing commercial facilities are some of the key parameters which will complement the boiler market. Increasing foreign investments and robust macroeconomic indicators are the key factors influencing the installation of these units. The industry collaboration between private players and state governments is further propelling a favorable business environment. The ongoing infrastructural expansion driven by a resurgent construction sector in conjunction with national targets to reduce the carbon footprint will fuel the product deployment.
The office commercial boiler market will reach over USD 800 million by 2032. These boilers are one of the prominent technologies used for space heating across offices including administrative centers, non-diagnostic medical centers, banks, and other service centers. The positive outlook for the service sector has resulted in growing investments toward new office constructions. The upgrading of existing facilities owing to the replacement of traditional boiler systems will further drive the industry growth.
The natural gas commercial boiler market size will witness growth rate of over 5.5% through 2032. These boilers utilize natural gas or propane as a primary fuel. In the past decade, competitive natural gas prices coupled with the inclination toward the adoption of sustainable technologies have significantly increased the demand for the gas fired boilers across the region. The demand for these units is particularly strong across the nations where the government has implemented strict regulations to reduce the dependency on fossil fuels, further driving the industry potential.
The South Atlantic commercial boiler market is set to surpass USD 750 million by 2032. The industry is observing substantial growth on account of extreme climatic conditions and the flourishing real estate sector. Various state governments are rolling out incentives and rebate programs to boost the adoption of clean technologies. For instance, in January 2023, National Energy Improvement Fund (NEIF) initiated a financing scheme which offers low-interest loans starting at just 1.99% for electric and natural gas energy efficiency projects.
The West South Central boiler market will grow on account of increasing urbanization rate and robust development of educational facilities. Rising consumer awareness toward environmental concerns in line with promoting the adoption of efficient and reliable heating units will accelerate the business growth. The growing concern on energy efficiency, low-carbon technologies and smart building integration in line with introduction of stringent regulations will drive the deployment of these units.
Fulton is one of the prominent manufacturers in the boiler industry, known for its innovative and efficient heating solutions. The company has a rich history of providing high-quality steam, hydronic, and thermal fluid heat transfer products. Fulton’s commercial boilers are engineered for optimal performance and reliability, catering to a wide range of applications, including healthcare, hospitality, manufacturing, and educational institutions. Their product line includes both conventional and condensing boilers, with an emphasis on energy efficiency and low emissions. Its commitment to advanced technology and customer service has established it as a trusted name in the commercial heating sector.
The key industry players include:
Market, By Fuel
Market, By Capacity
Market, By Technology
Market, By Product
Market, By Application
The above information has been provided for the following regions and states:
Prominent players operating in the U.S. commercial boiler industry are A.O. Smith, Babcock & Wilcox Enterprises, Inc., Burnham Commercial Boilers, Clayton Industries, Superior Boiler, Vaillant Group, Vapor Power International, Viessmann, and WM Technologies LLC, among others.
South Atlantic commercial boiler industry will surpass USD 750 million by 2032, attributed to its expanding commercial infrastructure and significant number of office buildings and industrial facilities.
U.S. market for commercial boiler was worth about USD 2.32 billion in 2023 and will grow at a 6% CAGR between 2024 and 2032, due to increasing demand for efficient heating systems in commercial buildings and industrial facilities.
The office application segment of U.S. commercial boiler industry will reach over USD 800 million by 2032, driven by the growing need for efficient heating solutions in office buildings.