Commercial Boiler Market - By Fuel (Natural Gas, Oil, Coal, Electric), By Capacity, By Technology (Condensing, Non-Condensing), By Product (Hot Water, Steam), By Application, By Regional Outlook & Forecast, 2024 – 2032

Commercial Boiler Market - By Fuel (Natural Gas, Oil, Coal, Electric), By Capacity, By Technology (Condensing, Non-Condensing), By Product (Hot Water, Steam), By Application, By Regional Outlook & Forecast, 2024 – 2032

Commercial Boiler Market Size

Commercial Boiler Market size in 2023 was estimated at USD 13.3 billion and is estimated to grow at a rate of 7.2% from 2024 and 2032. Transition of energy systems from fossil fuels to decarbonized substitutes in line with increasing adoption of clean energy technologies will escalate the business growth. For instance, in 2023, the investments across the development of offices witnesses a growth of over 10% across the Europe.

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A commercial boiler is a critical component in providing heating and hot water in large buildings and facilities including office, complexes, hospitals, schools, and healthcare facilities. These boilers are designed to handle higher demands compared to residential systems, offering robust performance, durability, and energy efficiency. These systems incorporate advanced technology for better control, safety, and environmental compliance, ensuring optimal operation and reduced energy consumption. Their reliability and efficiency make them essential for maintaining comfortable and safe environments in commercial settings.

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Commercial Boiler Market Trends

The wide scale utilization of these units for water and space heating across  commercial facilities including schools, universities, federal institutions, and airports, will positively sway the boiler market. Increasing government spending across the healthcare industry coupled with extensive investments by the public & private players will favor the business scenario. Increasing applicability of these units for autoclaves equipment sterilization, space heating, and water heating purposes will amplify the industry outlook.

Commercial Boiler Market Analysis

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The ≤ 0.3 - 2.5 MMBtu/hr commercial boiler industry will exceed over USD 3 billion by 2032. The widespread use of these units across commercial establishments comprising of lodgings, offices, assembly halls, schools, institutions, healthcare facilities, and retail centers, will drive the business landscape. These low-capacity units offer significant advantages, including ease of installation, low operation and maintenance costs, and the ability to provide instant hot water, which will in turn promote the product adoption.

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The hot water commercial boiler market size will witness growth rate of over 7% by 2032. The industry is gaining huge momentum on account of surging replacement of existing heating systems in order to meet the energy efficiency guidelines and stringent building standards & codes will favor the business scenario. In addition, to comply with the provisions of green building and the guidelines of LEED certification, consumers are adopting new heating systems, facilitating the business growth.

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The Europe commercial boiler market is set to surpass USD 10 billion by 2032. Increasing foreign investments in commercialization in line with favorable government initiatives for developing manufacturing facilities will enhance the business outlook. Strict emission control regulations aligned with national targets and supported by ongoing infrastructural expansion wing to the revitalized construction sector will further drive the deployment of these products.
 

Harsh climatic conditions coupled with the introduction of favorable government schemes and rebates aimed at boosting the adoption of clean technologies is set to bolster the U.S. commercial boiler market. The growing utility of these units for steam provision across commercial establishments, alongside a consumer trend toward adopting efficient heating systems, will drive business expansion. Rising demand for space heating, exacerbated by low winter temperatures and the need to upgrade existing commercial facilities, are key factors complementing the industry outlook.

Commercial Boiler Market Share

Miura America Co. is one of the leading manufacturers of commercial and industrial boiler systems. Known for their innovative and energy-efficient designs the company's boilers are compact, reliable, and environmentally friendly, offering significant cost savings and operational efficiencies. The company's product lineup includes modular steam boilers, hot water boilers, and auxiliary equipment, all designed to meet the diverse needs of various industries, from food and beverage processing to healthcare and manufacturing. It is committed to delivering advanced boiler technology that enhances productivity while reducing carbon footprints, making it a trusted partner for sustainable energy solutions in the market.

Commercial Boiler Market Companies

The key industry players include

• A.O. Smith
• AERCO
• Ariston Holding
• Atlantic Boilers
• Babcock & Wilcox
• Babcock Wanson
• Bosch Industriekessel
• Bradford White Corporation
• BURNHAM COMMERCIAL BOILERS
• Clayton Industries
• Cleaver-Brooks
• Columbia Boiler Company
• Energy Kinetics
• FERROLI
• Fonderie Sime
• FONDITAL
• Hurst Boiler & Welding Co.
• Lattner Manufacturing Co.
• Miura America Co.
• NTI Boilers
• PARKER BOILER
• PB HEAT
• Precision Boilers
• Slant/Fin Corporation
• The Fulton Companies
• Thermal Solutions
• Vaillant Group
• VIESSMANN
• Weil-McLain
• WOLF

Commercial Boiler Industry News

• In January 2023, Ariston Holding N.V. has proclaimed the acquisition of CENTROTEC Climate Systems from CENTROTEC SE. This acquisition includes renowned brands, with Wolf being a pioneer in developing next-generation residential boilers. This strategic move will bolster Ariston Holding's position and enhanced its product portfolio throughout Europe.
   
• In January 2023, Babcock Wanson acquired PBS Power Equipment, a prominent European boiler solutions manufacturer and Parat, a leader in high voltage boilers. This acquisition enhances the company's technological prowess and expands its market share. By integrating Parat's advanced high voltage boiler technology with PBS Power Equipment's innovative solutions, the company aims to offer more comprehensive and efficient energy solutions to its global clientele.
   

The commercial boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units”, “MMBTU/hr” & “USD Million”  from 2021 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 Technology

• Condensing
• Non-Condensing

Market, By Product

• Hot Water
• Steam

Market, By Application

• Offices
• Healthcare Facilities
• Educational Institutions
• Lodgings
• Retail Stores
• Others

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

Frequently Asked Questions (FAQ)

What is the size of the commercial boiler market?

Global commercial boiler industry was valued at USD 13.3 billion in 2023 and is anticipated to register 7.2% CAGR between 2024 and 2032 due to the increasing demand for space heating in commercial buildings and surging replacement of the existing heating units with energy-efficient boilers.

Why is the demand for hot water commercial boilers rising?

The hot water segment in the market will witness 7% CAGR through 2032, driven by green building practices and LEED certification requirements.

How big is the Europe commercial boiler industry?

Europe commercial boiler market is set to surpass USD 10 billion by 2032 due to the increasing foreign investments in commercialization and favorable government initiatives.

Who are the leading commercial boiler industry players?

A.O. Smith, AERCO, Ariston Holding, Atlantic Boilers, Babcock & Wilcox, Babcock Wanson, Bosch Industriekessel, Bradford White Corporation, BURNHAM COMMERCIAL BOILERS, Clayton Industries, and Cleaver-Brooks, among others.