North America Commercial Hot Water Boiler Market Size - By Fuel (Natural Gas, Oil, Coal, Electric), By Technology (Condensing, Non-Condensing), By Application (Offices, Healthcare Facilities, Educational Institutions, Lodgings, Retail Stores) & Forecast, 2024 – 2032

North America Commercial Hot Water Boiler Market Size

North America Commercial Hot Water Boiler Market was valued at USD 1.8 billion in 2023 and is anticipated to register a CAGR of over 6.8% from 2024 to 2032. Economic growth and stability have led to increased demand for infrastructure facilities resulting in rise in growth of this industry. For instance, lodging sector grow at a rate of over 10% in 2022 from the previous year 2021.
 

Stringent government restrictions and concern toward carbon emissions will positively sway the commercial boiler market. The replacement of existing heating units by more energy efficient boilers is considered. Furthermore, robust development of green buildings coupled with surging demand for hot water across wide multitude of commercial application will propel the boiler market.
 

COVID– 19 Impact

The COVID- 19 outbreak has been responsible an extremely critical economic slowdown and has affected some of the sectors with very high intensity. The manufacturing facilities encountered difficulties due to labor shortages, transportation restrictions, and lockdown measures, resulting a disruption in the supply chain. This caused delays in the boilers' distribution and manufacturing. The decline in demand from application areas such as hospitality, tourism, and commercial construction made the situation worse.
 

North America Commercial Hot Water Boiler Market Trends

Commercial facilities including hospitality and healthcare sectors, have a high dependency on a continuous and reliable supply of hot water. These boilers play a crucial role in the commercial sector as they are highly dependent on hot water supply. Furthermore, an increase in commercial construction projects, such as office buildings, hotels, hospitals, and restaurants, leads to greater demand for commercial hot water boilers. The commercial boiler market is also driven by growing concern about environmental issues and climate change. These concerns have led to technological advancements in the market, resulting in innovation of more efficient boilers.

A commercial hot water boiler is a specialized heating appliance designed to provide a continuous supply of hot water for various commercial and industrial purposes. These boilers are typically larger and more powerful than hot water heaters and are capable of meeting the higher demands of businesses, institutions, and other large-scale facilities.
 

North America Commercial Hot Water Boiler Market Analysis

Based on technology, the condensing boilers will witness 9.9% growth rate from 2023 to 2032. These boilers are proven to be more energy efficient and relatively easier to replace, when compared to the others. Commercial consumers often choose to replace or retrofit them with condensing boilers that fosters the opportunities for the commercial hot water boiler market.
 

Based on fuel, the electric boiler holds a market share of over 10% in 2022. The rising concerns toward the environment has been an influential factor for the demand in these boilers. Stringent government policies and ongoing technological advancements have improved the performance and reliability of commercial boilers.
 

Based on application, the healthcare application is set to surpass USD 800 million by 2032. Increasing applicability to produce steam, sterilization of medical equipment, heating water for laundry, and providing steam for humidification systems will foster the North America commercial hot water boiler market potential. These facilities require space heating to maintain comfortable temperatures for patients and staff, especially in colder climates, which in turn will drive the industry outlook.
 

  

• The U.S. commercial boiler market was valued at USD 1.4 billion in 2022. Government incentives and policies including subsidies for clean energy solutions and support for the development of distributed energy resources, will foster the business landscape.
   
• This demand is driven by factors including increasing urbanization rate, expansion of industrial sector and increase investment across the commercial sector. The government has been implementing stricter emissions regulations to reduce pollution and improve air quality, which in turn will escalate the industry growth.  
   

North America Commercial Hot Water Boiler Market Share

The key participants in the market employ a variety of strategies to maintain and strengthen their foothold in the market. These strategies are often shaped by factors such as competitive dynamics, technological advancements, changes in regulations, and evolving customer tastes and preferences.
 

The major players operating across the market include:

• Cleaver-Brooks
• Viessmann
• Ferroli S.p.A
• Bosch Industriekessel GmbH
• Thermal Solutions
• Columbia Boiler Company
• Parker Boiler
• Slant/Fin Corporation
• Lochinvar
• Laars Heating Systems
• Weil-McLain
• A.O. Smith Corporation
• Raypak
• Bradford White Corporation
• American Water Heaters
• Rheem Manufacturing Company
• Patterson-Kelley
• AJAX Boiler, Inc.
• AERCO International, Inc.
• Burnham Commercial
   

North America Commercial Hot Water Boiler Market News:

• In October 2023, Cleaver-Brooks unveiled a video highlighting their ClearFire-CE boiler. The CFC-E is a high-efficiency condensing boiler featuring TurboFer heat exchanger technology, achieving up to 99% efficiency. They emphasized on its advanced firetube design, delivering unmatched heat transfer and condensing performance. The boiler offers 20 ppm NOx as standard, with an option for 7 ppm NOx, and supports the use of renewable natural gas and hydrogen-blended natural gas. It's suitable for a range of applications, including building heating and domestic hot water production.
   
• In August 2023, Bosch announced the launch of Greenstar 1000, our very first budget boiler, expanding our renowned boiler range. They offer a five-year guarantee and thoughtful consideration for installers, featuring a compact, one-box design for easy installation and servicing. Notable features include in-line hydraulic connections, gas pipe tail centralization, and a fan delivering 30kW of hot water with efficient controls for user-friendliness.
   

This North America commercial hot water boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units”, MMBTU/hr & “USD” from 2019 to 2032, for the following segments:

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By Fuel

• Natural Gas
• Oil
• Coal
• Electric
• Others

By Capacity

• ≤ 0.3 - 2.5 MMBtu/hr
• > 2.5 - 10 MMBtu/hr
• > 10 - 25 MMBtu/hr
• > 25 - 50 MMBtu/hr
• > 50 MMBtu/hr

By Technology

• Condensing
• Non-condensing

By Application

• Offices
• Healthcare facilities
• Educational institutions
• Lodgings
• Retail stores
• Others

The above information has been provided for the following countries:

• U.S
• Canada
• Mexico