Commercial Hot Water Boiler Market Size - By Fuel (Natural Gas, Oil, Coal, Electric), By Technology (Condensing, Non-Condensing), By Application (Offices, Healthcare Facilities, Educational Institutions, Lodgings, Retail Stores), Capacity & Forecast, 2024 – 2032

Commercial Hot Water Boiler Market Size - By Fuel (Natural Gas, Oil, Coal, Electric), By Technology (Condensing, Non-Condensing), By Application (Offices, Healthcare Facilities, Educational Institutions, Lodgings, Retail Stores), Capacity & Forecast, 2024 – 2032

Commercial Hot Water Boiler Market Size

Commercial Hot Water Boiler Market size was valued at USD 10.3 billion in 2023 and is estimated to witness over 7.6% CAGR from 2024 to 2032. It is a system that provides hot water to the commercial establishments. These are pressurized systems which work by burning different types of fuels to heat water. This water is then carried and utilized to offer heat. The wide scale utilization of these units across establishments including universities, schools, federal institutions, and airports, will positively influence business growth. Surging infrastructural investments across the real estate sector coupled with favorable regulatory policies will energize the industry dynamic.

Increasing government spending along with extensive investments by the public & private players across the healthcare industry will favor the business scenario. Stringent government regulations to limit carbon emissions in line with surging deployment of multiple boilers to improve reliability will drive the business landscape. The product offers key benefits including low installation time and costs and high efficiency, accelerating the industry potential.

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COVID– 19 Impact

The COVID- 19 pandemic has had a significant impact on the commercial hot water boiler market. There was a disruption in the supply chain as manufacturing facilities faced challenges owing to lockdown measures, labor shortages, and transportation restrictions. This resulted in delays and interruptions in the production and distribution of the boilers. The decreased demand from the application areas including hospitality, tourism, and commercial construction contributed to the decline in the market.

Commercial Hot Water Boiler Market Analysis

The commercial hot water boiler market from > 2.5 - 10 MMBtu/hr capacity segment is set to surpass USD 2.5 billion by 2032. Wide scale utilization of these units across commercial establishments including assemblies, lodgings, offices, schools, institutions, retail centers, and healthcare facilities will drive the business scenario. These low-capacity units offer key advantages including ease-of-installation, low O&M costs and the ability to provide instant hot water, which in turn will foster product penetration.

The commercial hot water boiler market from condensing technology will grow at a significant CAGR through 2032, owing to its key advantages including reduced environmental pollution, high efficiency, and low heating costs. Moreover, shifting government focus toward the reduction of carbon footprints and energy conservation will positively influence product penetration. Governments, organizations, and businesses worldwide are implementing measures to reduce energy consumption and lower greenhouse gas emissions. Condensing technology enables boilers to achieve higher efficiency levels by recovering and utilizing heat from flue gases, accelerating the business potential.

The commercial electric boiler market is projected to expand at 13.5% CAGR through 2032, due to the increasing demand for these heating units, driven by factors including energy efficiency, environmental concerns, and technological advancements. The commercial hot water boiler market will witness an upsurge owing to increasing foreign investments toward the development of commercial facilities and surging replacement of conventional heating units. The demand for these units is particularly strong across the nations where the government has implemented strict regulations to reduce the dependency on fossil fuels.

The lodging application holds a 10% of the commercial hot water boiler market share in 2022. Flourishing tourism sector along with robust development of hotels and resorts will boost product adoption. Stringent government laws pertaining to building emissions along with increasing consumer spending power will foster the business outlook. Changing climatic conditions primarily across the colder regions along with growing efforts to maintain temperature inside the premises will propel business growth.

The Europe commercial hot water boiler market size dominated over USD 3.2 billion in 2022. Extreme climatic conditions along with the introduction of favorable government schemes and rebates to increase the adoption of clean technologies will augment the business landscape. Rising foreign investments in commercialization along with favorable government schemes toward the development of manufacturing facilities will escalate the business outlook. Global commercial boiler industry is poised to reach USD 24.8 billion by 2032.

North America commercial boiler market will witness an appreciable momentum during the forecast period, attributed to extreme winter temperatures and growing construction spending will stimulate the product penetration. Increasing space heating demand, low winter temperatures, and upgradation of the existing commercial facilities are some of the key parameters, complementing the industry outlook. The stringent norms pertaining to emission control supported by national targets in line with ongoing infrastructural expansion due to the resurgent construction sector will drive the product deployment.

Commercial Hot Water Boiler Market Share

The key players operating across the commercial hot water boiler market include

• Cleaver-Brooks
• VIESSMANN
• FERROLI S.p.A
• Bosch Industriekessel GmbH
• Thermal Solutions
• Columbia Boiler Company
• PARKER BOILER
• Slant/Fin Corporation, P.M
• Lattner Manufacturing Co.
• Precision Boilers
• Remeha
• Energy Kinetics
• The Fulton Companies
• MESTEK
• Hurst Boiler & Welding Co.

Commercial Hot Water Boiler Industry News

• In January 2022, PARKER BOILER installed high-pressure hot water boilers, providing heat to a bunker hill tower in Los Angeles, U.S. Tie-ins were made to the building’s existing piping, heat exchangers & hot water storage tanks, enabling the system to provide reliable heat for the building. A room pressurization control & draft inducing systems were provided by Enervex. PARKER BOILER’s installation blended all system component, and the system went online in December 2021.
   
• In April 2021, Remeha CHP systems delivered a highly efficient solution to heating and hot water at the Chester care home in the UK. The company installed Remeha R-Gen SenerTec Dachs Gen 2 5.5 CHP to meet these requirements. Three Remeha Quinta Ace 115 wall-hung condensing boilers were selected to work alongside the CHP to meet peak heat demand. CHP produces useful heat and electricity at the point of use in a single, highly efficient process. Rather than rejecting waste heat to the atmosphere as traditional power stations do, CHP captures it to produce useful thermal energy.

This commercial hot water boiler market research report 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 - 25 MMBtu/hr
• > 25 - 50 MMBtu/hr
• > 50 MMBtu/hr

Market, By Technology

• Condensing
• Non-Condensing

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)

How big is the commercial hot water boiler market?

The market size of commercial hot water boiler reached USD 10.3 billion and will surpass USD 19.9 billion by 2032, says this GMI report.

Why are electric commercial hot water boilers in high demand?

The electric commercial hot water boiler market share will witness a 13.5% CAGR from 2023 to 2032, due to factors including energy efficiency, environmental concerns, and technological advancements.

What is the Europe commercial hot water boiler industry size?

Europe market size held more than USD 3.2 billion in 2022, owing to factors like extreme climatic conditions along with the introduction of favorable government schemes and rebates to increase the adoption of clean technologies.

Who are the leading manufacturers in global commercial hot water boiler landscape?

Cleaver-Brooks, VIESSMANN, FERROLI S.p.A, Bosch Thermal Solutions, Columbia Boiler Company, PARKER BOILER, Slant/Fin Corporation, P.M. Lattner Manufacturing Co., Precision Boilers, Remeha, Energy Kinetics, The Fulton Companies, MESTEK, Hurst Boiler & Welding Co.