Commercial Electric Boiler Market Size – By Voltage Rating, By Capacity, By Product, By Application, Analysis, Share, Growth Forecast, 2024 – 2032

Commercial Electric Boiler Market Size

The global commercial electric boiler market was valued at USD 1.9 billion in 2023 and is estimated to grow at a CAGR of 15.5% from 2024 to 2032. The increasing demand for space heating solutions along with the continuous efforts toward decarbonizing the sector is shaping the business dynamics. The growing consumer preference for energy-efficient heating systems, coupled with the ongoing renovation of commercial buildings will propel business growth.
 

A commercial electric boiler plays a vital role in delivering heating and hot water to large buildings and facilities including complexes, schools, hospitals, and healthcare institutions. These boilers provide durability, robust performance, and high energy efficiency. They feature advanced technologies that enhance control, safety, and environmental compliance, ensuring optimal operation and lower energy consumption. Furthermore, increasing investments from major private and public entities in the development of commercial establishments in developing countries driven by the ample availability of raw materials, substantial human resources and favorable macroeconomic indicators will stimulate the business dynamics.
 

Commercial Electric Boiler Market Trends

The extensive use of these units for water and space heating in commercial facilities including along with flourishing real estate sector will positively sway the boiler market. Rising government expenditures in the healthcare sector combined with significant investments from both public and private entities will enhance the business landscape. Advancements in electric boiler technology have improved their efficiency making them a cost-effective alternative for heating in commercial settings. Additionally, the growing application of these units for sterilizing autoclave equipment will further bolster the industry scenario.
 

Commercial Electric Boiler Market Analysis

The > 10 - 50 MMBtu/hr capacity commercial electric boiler industry will reach over USD 1 billion by 2032. Significant government initiatives aimed at reducing carbon emissions across multiple sectors are driving the demand for these boilers. Additionally, efforts to enhance energy efficiency coupled with the key benefits of these boilers including energy savings, improved comfort, and lower operational costs, are accelerating their adoption. The flexibility and reliability of these units combined with increasing demand for environmentally friendly heating solutions will further accelerate product penetration.
 

The steam commercial electric boiler market size will witness more than 15% CAGR through 2032. The increasing need for low & medium pressure steam applications primarily across offices and educational institutions is set to foster business growth. Stricter emission regulations aimed at reducing carbon footprints, coupled with supportive government initiatives and investments in clean technology adoption, are further accelerating the business expansion. Additionally, the growing focus on energy efficiency and sustainability is pushing industries to upgrade older steam boiler systems with newer, more efficient models that comply with modern environmental standards will foster the industry dynamics.
 

U.S. commercial electric boiler market is set to surpass USD 600 million by 2032. The rising demand for space heating driven by low winter temperatures and the necessity to upgrade aging commercial facilities will enhance industry prospects. Additionally, innovations including intelligent thermostats and IoT-integrated systems will further augment the business landscape. Moreover, government initiatives promoting clean energy and the phasing out of conventional gas and coal-based boilers are propelling the product deployment.
 

The Europe commercial electric boiler market will witness substantial growth driven by cutting-edge technological integration and highly efficient power solutions. The rising foreign investments in commercialization in line with supportive government initiatives for establishing manufacturing facilities will stimulate the business outlook. Stringent emission control regulations that align with national targets along with ongoing infrastructure development owing to a revitalized construction sector will propel the adoption of these products. Additionally, increasing consumer preferences for reliable heating solutions along with favorable environmental initiatives are driving demand for these heating systems.
 

Commercial Electric Boiler Market Share

The commercial electric boiler industry is intensely competitive, driven by the rising demand for efficient, reliable, and sustainable heating solutions in various commercial settings. A significant approach is the development of high-efficiency models with advanced control systems, which optimize energy usage and reduce operating costs. The key manufacturers are focusing on modular and compact designs to facilitate easier installation, especially in retrofitting older systems.
 

Commercial Electric Boiler Market Companies

Major players operating in the commercial electric boiler industry are:

• Acme Engineering Products
• ACV
• Babcock Wanson
• Bosch Industriekessel
• Cleaver-Brooks
• Cochran
• Danstoker
• Ecotherm Austria
• Electro Industries
• Flexiheat UK
• Hi-Therm Boilers
• Kloepper-Therm
• LAARS Heating Systems
• Lochinvar
• Precision Boilers
• SAS Lacaze Energies
• Slant/Fin Corporation
• Thermon
• Varmebaronen
• Viessmann
   

Commercial Electric Boiler Industry News

• In January 2024, Viessmann Climate Solutions was acquired by Carrier, enhancing Carrier's market position by integrating a prominent provider of efficient and renewable climate solutions. This acquisition significantly strengthened Carrier's presence in the light commercial sector across Europe, reinforcing its commitment to innovation, sustainability, and global leadership within the HVAC industry.
   
• In January 2023, Babcock Wanson completed the acquisition of PBS Power Equipment, a key European provider of boiler solutions, along with Parat, a leader in high-voltage boiler technology. This acquisition strengthened the company’s technological expertise and broadened its market reach. Moreover, by integrating Parat’s high-voltage boiler advancements with PBS Power Equipment’s innovative offerings, the company sought to provide more efficient and comprehensive energy solutions to its global client.
   

This commercial electric boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume (‘000 Units) & revenue (USD Million) from 2021 to 2032, for the following segments:

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Market, By Voltage Rating

• Low Voltage
• Medium Voltage

Market, By Capacity

• ≤ 0.3 - 2.5 MMBtu/hr
• > 2.5 - 10 MMBtu/hr
• > 10 - 50 MMBtu/hr
• > 50 - 100 MMBtu/hr
• > 100 - 250 MMBtu/hr

Market, By Product

• Hot Water
• Steam

Market, By Application

• Offices
• Healthcare Facilities
• Educational Institutions
• Lodgings
• Retail Stores
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • UK
  • Poland
  • Italy
  • Spain
  • Germany
  • Russia
  • Austria
  • Sweden
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Indonesia
  • Philippines
• Middle East & Africa
  • Saudi Arabia
  • Iran
  • UAE
  • Egypt
  • Nigeria
  • Kenya
  • Morocco
  • South Africa
• Latin America
  • Brazil
  • Argentina
  • Colombia
  • Chile