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North America Commercial Hot Water Boiler Market Size

Report ID: GMI7153
Published Date: Oct 2023
Report Format: PDF

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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.

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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.

North America Commercial Hot Water Boiler Market Report Attributes
Report Attribute	Details
Base Year:	2023
North America Commercial Hot Water Boiler Market Size in 2023:	USD 1.8 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.8%
2032 Value Projection:	USD 3.1 Billion
Historical Data for:	2019 to 2023
No. of Pages:	125
Tables, Charts & Figures:	285
Segments covered:	Fuel, Capacity, Technology, Application
Growth Drivers:	Surging investments across the healthcare sector Government regulations to limit carbon emissions Robust development of green buildings Replacement of the existing boilers
Pitfalls & Challenges:	High initial investment

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Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of commercial hot water boiler in North America was exceeded USD 1.8 billion in 2023 and is estimated to surpass USD 3.1 billion by 2032.

The condensing boilers segment will witness 9.9% CAGR from 2023 to 2032 as these boilers are proven to be more energy efficient and relatively easier to replace, when compared to the others.

The U.S. market size was worth USD 1.4 billion in 2022 and will grow significantly through 2032, owing to the government incentives and policies including subsidies for clean energy solutions and support for the development of distributed energy resources.

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, and Bradford White Corporation.