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New York, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Commercial Boiler Global Market Report 2022' -
The global commercial boiler market is expected to grow from $3.47 billion in 2021 to $3.64 billion in 2022 at a compound annual growth rate (CAGR) of 4.81%. The commercial boiler market is expected to grow to $4.44 billion in 2026 at a compound annual growth rate (CAGR) of 5.12%.
The commercial boiler market consists of sales of commercial boilers by entities (organizations, sole traders, and partnerships) that are used to provide heating and hot water to a non-domestic building.It is a pressurized system offering steam and hot water to buildings through the use of electricity or burning combustible fuel.
With the lesser wastage of energy, commercial boilers keep the commercial building safe and comfortable. Commercial boilers usually have the components such as a burner, heat exchanger, combustion chamber, controllers and exhaust stacks.
The main types of boiler in commercial boiler market are fire tube and water tube.The fire tube is a type of commercial boiler wherein the fire or hot gas is present inside the tubes and water surrounds these fire tubes.
These boilers are easy to install and operate.Various fuels used in commercial boilers are natural gas, oil, coal and others through utilizing technologies such as condensing and non-condensing.
Commercial boilers are mainly used in offices, warehouse and storage facilities, retail stores, educational institutions, lodgings, public assembly buildings and healthcare facilities.
North America was the largest region in the commercial boiler market in 2021. The regions covered in the commercial boiler market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The commercial boiler market research report is one of a series of new reports that provides commercial boiler market statistics, including commercial boilers industry global market size, regional shares, competitors with a commercial boiler market share, detailed commercial boiler market segments, market trends and opportunities, and any further data you may need to thrive in the commercial boilers industry. This commercial boiler market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rising commercial buildings and increase in safety equipment are expected to propel the growth of the commercial boiler market.Commercial buildings such as offices, retail stores, warehouses & storage facilities, and hospitals are rising due to various reasons such as economic development, rapid urbanization, industrial development, and others.
A commercial boiler consists of a pressurized system that uses electricity or burns fuel to heat the water or provide heat in commercial buildings.Commercial boilers keep the commercial buildings safe and comfortable with lesser wastage of energy.
Commercial boilers are a safe and cost-effective choice for commercial buildings.The rising commercial buildings and increase in the safety equipment required will generate demand for commercial boilers as these are an important part of commercial buildings for heat/steam applications.
For instance, according to a factsheet by the Center for Sustainable Systems, in the USA, the commercial building floor space is expected to reach 124.3 billion square feet by 2050, showing an increase of 33% from 2020. Thus, the rising commercial buildings and increase in safety equipment will drive the growth of the commercial boiler market.
The launch of innovative boiler systems is a key trend gaining popularity in the commercial boiler market.The commercial boiler market is witnessing the arousal of innovation trends such as the introduction of low NOx (nitrogen oxide) boilers, and high-efficiency boilers with compact designs, reduced carbon footprints, enhanced efficiency, easy installation, and others.
These innovative commercial boilers offer companies increased sales, and an opportunity to gain a competitive edge in the market.For instance, in April 2022, Bosch, a global manufacturer of heating products launched its latest commercial boiler series, the Condens 7000 WP.
The new series with new a design is created to increase install time with ease/convenience.It can save up to 60% on average installation times compared to the other models.
It also offers the maximum output.
In January 2020, SPX Corporation, a US-based provider of engineered solutions acquired Patterson-Kelley, for an undisclosed amount.With this acquisition, SPX adds a strong brand, technology, and high-quality range of commercial boilers and water heaters to its portfolio.
It also enhances SPX's market presence and application support capabilities. Patterson-Kelley LLC is a US-based manufacturer of commercial boilers and water heaters.
The countries covered in the commercial boiler market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
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