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

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

North America Commercial Boiler Market Size

North America Commercial Boiler Market was valued at USD 2.5 billion in 2023 and is anticipated to grow at 6.3% CAGR from 2024 to 2032. Increasing measures toward energy efficiency and high reliability will propel the industry growth.

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The resurgent construction sector is driving commercial expansion along with growing infrastructural investments will drive the commercial boiler market. Extreme climatic conditions require advanced hot water systems equipped with smart space heating technologies which in turn will fuel the product penetration. The industry development is further bolstered by increasing consumer awareness and environmental constraints, which are supported by regulatory reforms aimed at promoting the installation of efficient and reliable heating units.

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COVID– 19 Impact

The regional economy has been adversely affected by the ongoing COVID-19 pandemic. The implementation of large-scale lockdowns has led to the closure of numerous business activities and infrastructure projects. Social distancing measures and reduced business operations have placed financial constraints on commercial enterprises and resulted in a reduced utilization of spaces. The retail stores, restaurants, bars, and public assembly sectors have been particularly hard-hit by the lockdown measures, leading to a postponement of investments in building upgrades and renovations.

North America Commercial Boiler Market Analysis

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The steam boiler market is set to grow at a rate of 5.9% through 2032. Increasing government spending in the healthcare industry along with continuous upgradation of existing hospitals will favor the market scenario. These units are primarily utilized for space heating, autoclaves equipment sterilization and water heating purposes which in turn will fuel the industry outlook.

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The > 2.5 - 10 MMBtu/hr boiler industry held 20% of the North America commercial boiler market share in 2022. These units are primarily deployed across public assemblies, lodgings, offices, schools, institutions and retail centers owing to key advantages including low initial investment, ease-of-installation and low maintenance. Furthermore, growing consumer awareness toward adoption of reliable and efficient heating units will foster the product demand.

Based on technology, the market is segmented as condensing and non-condensing. Growing popularity of condensing boilers for space and water heating across the various commercial establishments including universities, schools, federal institutions, and airports will positively influence the North America commercial boiler market dynamics.

The commercial electric boiler market crossed a valuation of USD 200 million in 2022. Increasing inclination toward the adoption of sustainable technologies along with implementation of government regulations to limit carbon emissions will positively sway the market growth. Robust development of green buildings coupled with ongoing replacement of existing boiler units will favor the industry statistics.

Paradigm shift toward the development of green buildings coupled with introduction of government objectives to attain decarbonized & highly energy-efficient building stock in the near terms will propel the business growth. Several policies by the authorities have mandated the member states to adopt strategies to minimize the carbon footprint of various commercial & industrial establishments, escalating the North America commercial boiler market outlook.

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The U.S. commercial boiler market is estimated to amass USD 3 billion by 2032. Flourishing commercial sector in line with the rapid development of educational institutions will positively impact the business landscape. Extreme winter temperatures in the nation along with the growing construction spending will stimulate the product penetration. Ongoing expansion of existing medical facilities coupled with surging hospitality sector will augment the industry revenues.

North America Commercial Boiler Market Share

The key players operating across the market include

• Babcock and Wilcox
• Hurst Boiler and Welding Co.
• Cleaver-Brooks
• Viessmann
• The Fulton Companies
• Columbia Boiler Company
• Miura America Co.
• Clayton Industries
• Superior Boiler Works
• Vapor Power International
• A. O. Smith
• Burnham Holdings Inc.
• Precision Boilers
• Bosch Industriekessel
• WM Technologies LLC
• Vaillant Group

North America Commercial Boiler Industry News

• In July 2022, Bosch Industriekessel introduced the ELSB series of boilers. The new series is designed for wide tandem of commercial applications. The product is operated with electricity in accordance with power-to-heat principle without the need for chimneys, flue gas components, and a fuel supply infrastructure. In addition, it supports carbon-neutral technology and offers advanced features including reduced emissions and high efficiency to the end users.
   
• In December 2021, Burnham Holdings expanded its C-Series product line with four new models, ranging from 125 to 200 hp for commercial applications. The newly developed units strengthened BURHMAN’s market presence and propelled its growth. In addition, this strategic move has strengthened the company’s position across the world.

This market research report on North America commercial boiler 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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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 countries

• U.S.
• Canada
• Mexico

Authors Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ)

How big is the commercial electric boiler market in North America?

The market size of North America commercial boiler surpassed USD 2.5 billion in 2023 and will expand at 6.3% CAGR during 2023 to 2032, propelled by increasing infrastructural investments and extreme climatic conditions.

What is driving in the demand for steam boilers in healthcare sector?

The steam boiler segment is poised to witness 5.5% growth between 2023 and 2032, as a result of increased government spending on the healthcare system along with continuous upgradation of existing hospitals.

Why is the use of electric commercial boilers growing in North America?

North America commercial boiler industry size from the electric fuel segment was more than USD 200 million in 2022, owing to the adoption of sustainable technologies along with the implementation of government regulations to limit carbon emissions.

Which factors are driving the commercial boiler industry growth in U.S.?

The U.S. commercial boiler sector is slated to reach USD 3 billion by 2032, due to the rapid development of educational institutions and extreme winter temperatures in the country.

Who are the key players operating in the business landscape?

Major participants in the industry’s competitive landscape are Babcock and Wilcox, Hurst Boiler and Welding Co., Cleaver-Brooks, Viessmann, The Fulton Companies, Columbia Boiler Company, Miura America Co., Clayton Industries, Superior Boiler Works.