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The sectors including hospitality and healthcare rely heavily on a constant and reliable hot water supply. Boilers are essential in these industries owing to their dependence on hot water. Additionally, the rise in commercial construction projects including office buildings, hotels, hospitals, and restaurants, is driving the demand for heating systems. The industry is further fueled by increasing awareness of environmental issues and climate change. These concerns have prompted technological innovations leading to the development of more efficient commercial boilers.
Key players in the industry include A.O. Smith, AERCO International, American Water Heaters, Bosch Industriekessel, Bradford White Corporation, Burnham Commercial, Cleaver-Brooks, Columbia Boiler Company, Ferroli, Laars Heating Systems, Lochinvar, Parker Boiler, Patterson-Kelley, Raypak, Rheem Manufacturing Company, Thermal Solutions, Viessmann, and Weil-McLain.
The electric commercial hot water boiler market is expected to exceed USD 800 million by 2034, fueled by growing environmental concerns and advancements in energy-efficient technologies.
The North America commercial hot water boiler market was valued at USD 1.8 billion in 2024 and is projected to grow at a 7.1% CAGR from 2025 to 2034, driven by economic growth and increasing infrastructure demand.
The condensing commercial hot water boiler market is anticipated to grow at a CAGR of over 9.5% through 2034, supported by the demand for energy-efficient solutions and government regulations promoting cleaner energy alternatives.
The U.S. commercial hot water boiler market is set to surpass USD 2.5 billion by 2034, led by government incentives, rising urbanization, and stricter emissions regulations aimed at reducing pollution.