Office Boiler Market Size - By Fuel (Natural Gas, Oil, Coal, Electric), By Technology (Condensing, Non-Condensing), By Product (Hot Water, Steam), Capacity & Forecast, 2023 – 2032

Office Boiler Market Size

Office Boiler Market was valued at USD 2.6 billion in 2022 and is poised to record more than 7% CAGR from 2023 to 2032. The increasing demand for space heating in office spaces along with stern policy framework for the development of green buildings will result in an upward trend for the market. Furthermore, the need for effective space heating solutions in especially in colder climates, will fuels the demand for boilers.
 

Surge in replacement of the existing heating units with energy-efficient boilers are proven to be influential in shaping the demand curve for the industry. Increasing government spending across the healthcare industry along with extensive investments by the public & private players will fuel the boiler market. Increasing applicability of these units for space heating, autoclaves equipment sterilization, and water heating purposes will propel the industry outlook.
 

COVID– 19 Impact

The office boiler market experienced adverse effects from the COVID-19 pandemic due to the shutdown of offices, educational institutions, hotels, and other establishments where commercial-grade boilers are commonly utilized. Furthermore, the industry faced challenges in returning to normalcy due to unprecedented supply chain issues that emerged in the aftermath of the pandemic.
 

Office Boiler Market Trends

The business landscape is set to be influenced by stringent government regulations aimed at restricting carbon emissions, aligning with the increasing adoption of multiple boilers to enhance reliability. The product provides notable advantages such as reduced installation time and costs, along with heightened efficiency, thereby amplifying the industry's potential.
 

The growing focus on reducing the aftereffects of greenhouse gas emissions has significantly increased the product demand. Robust development of green buildings along with introduction of other emission control policies by the federal and regional government will augment the industry outlook.
 

Office Boiler Market Analysis

The natural gas boiler industry will witness growth rate of 6.7% through 2032. Abundant availability of gas resources along with stringent government policies pertaining to the deployment of low-emission fuels will drive the business outlook. The upgradation of existing facilities coupled with surging replacement of traditional heating systems will further drive the industry landscape.
 

The hot water boiler product held around 70% of the market share in 2022. The product offers key advantages including Low performance, high operation and maintenance costs, driving the industry share. The shift from fossil fuels to decarbonized alternatives, coupled with the increasing adoption of clean energy technologies, is poised to drive substantial business growth.
 

The ≤ 0.3 - 2.5 MMBtu/hr office boiler market is set to surpass USD 600 million by 2032. The positive outlook for the service sector across several countries has resulted in growing investments toward new constructions which in turn will favor the industry scenario.
 

Based on technology, the market is segmented as condensing and non-condensing. The regulatory, economic, environmental, and technological factors will reflect a broader shift toward sustainable and efficient heating solutions in these applications will positively sway the business outlook. The demand for these heating units is particularly strong across the nations where the government has implemented strict regulations to reduce the dependency on fossil fuels.
 

• The Asia Pacific commercial boiler market reached a valuation of USD 685.9 million in 2022. The industry is expected to experience increased demand for boilers as existing heating units are replaced with more energy-efficient alternatives. The surge in foreign investments in commercialization, coupled with favorable government schemes aimed at promoting the development of manufacturing facilities, is anticipated to boost business prospects.
   
• The deployment of the product will be driven by strict emission control regulations aligned with national targets, particularly due to the resurgence in the construction sector and ongoing infrastructure expansion. The growth of the business will be further fueled by the rising use of these units to supply steam in commercial establishments, coupled with the continuous consumer transition towards adopting more efficient heating systems.
   

Office Boiler Market Share

The major players in the business use a variety of strategies to maintain and grow their market share. Usually, these strategies are affected by things like changing customer preferences, technological advancements, regulatory changes, and competitive pressures. The leading companies in the market include:

• Babcock & Wilcox Enterprises, Inc.
• Hurst Boiler & Welding Co, Inc.
• Cleaver-Brooks
• VIESSMANN
• FONDITAL S.p.A.
• FERROLI S.p.A
• Atlantic Boilers
• Bosch Industriekessel GmbH
• Weil-McLain
• BURNHAM COMMERCIAL BOILERS
• Bradford White Corporation
• PARKER BOILER
• Slant/Fin Corporation
• A.O. Smith Water Products Company B.V.
• Precision Boilers
• WOLF
• Ariston Holding N.V.
• Energy Kinetics
• Vaillant Group
• Miura America Co., LTD.
• The Fulton Companies
• Clayton Industries
   

Cleaver-Brooks is a prominent company known for its expertise in manufacturing boilers and providing energy solutions. It is recognized for delivering a wide range of boiler systems, including those designed for industrial, institutional, and commercial applications. The company is known for its commitment to innovation and efficiency in the field of boiler technology, contributing to the heating needs of various application areas and businesses.
 

Office Boiler Industry News

• In May 2023, Weil-McLain announced that their commercial cast iron boiler portfolio is DOE-compliant, meeting higher minimum efficiency standards. The DOE-compliant portfolio ensures lower fuel consumption, reduced operating costs, and reliable operation for property owners and facility managers. These boilers are ideal for light commercial applications, providing enhanced performance, reliability, and service life to the consumers.
   
• In July 2022, Bosch announced that they have introduced the ELSB electric steam boiler, providing carbon-neutral steam generation for industrial and commercial processes. The electric boiler achieves carbon neutrality, powered by renewable sources like water and wind energy. The unit offers flexibility, high efficiency, and space-saving design contribute to a sustainable and resource-saving steam generation process.
   

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

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Market, By Fuel

• Natural Gas
• Oil
• Coal
• Electric
• Others

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 Technology

• Condensing
• Non-Condensing

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

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