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North America Boiler Market Trends

Report ID: GMI7285
Published Date: Jun 2024
Report Format: PDF

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North America Boiler Market Trends

The boiler industry has experienced significant growth propelled by rising investments in infrastructure development and the revival of the construction sector. The growing demand for space heating in commercial buildings coupled with a booming real estate sector is set to fuel the business expansion. The shift from fossil fuels to decarbonized energy alternatives along with the increasing adoption of clean energy technologies will drive the industry growth. The growing demand for water and space heating systems, driven by a rising population and increasing urbanization, will fuel business growth.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of North America boiler was worth USD 6.7 billion in 2023 and is projected to witness 5.8% CAGR through 2032, due to the robust expansion of commercial spaces along with ongoing replacement of the existing heating systems with energy-efficient units.

North America electric boiler market is poised to witness over 11% CAGR from 2024 to 2032, owing to the stringent government norms pertaining to the adoption of low-emission fuels across the region.

U.S. boiler market size is set to surpass USD 8 billion by 2032, driven by the rising need for space heating in commercial structures and the heightened focus on corporate sustainability.

Some of the top boiler firms in North America are Carrier Corporation, Lennox International Inc., Trane Technologies, Bosch Thermotechnology, Burnham by U.S. Boiler Company, Fulton Boiler Works, Slant/Fin Corporation, Columbia Boiler Co., New Yorker Boiler Company, and A.O. Smith, among others.