(MENAFN- GlobeNewsWire - Nasdaq) This report features detailed analysis of leading players' market shares, plant turnarounds, capacities, investments, and mergers & acquisitions, among other major developmentsDublin, Jan. 13, 2025 (GLOBE NEWSWIRE) -- The "Commercial Boiler Market Forecast 2024-2032" report has been added to ResearchAndMarkets.com's offering. The market is analyzed by technology, fuel type, capacity, end use, and region.
According to this report, the global commercial boiler market size reached a value of USD 1.32 billion in 2023. Aided by the rising demand for efficient heating systems in commercial buildings and the growing emphasis on reducing carbon emissions, the market is projected to further grow at a CAGR of 4.3% between 2024 and 2032 to reach a value of USD 1.94 billion by 2032.
The global commercial boiler market growth is primarily driven by the increasing demand for energy-efficient heating systems. With the rising awareness of environmental concerns and the stringent government regulations aimed at reducing greenhouse gas emissions, commercial properties are increasingly opting for modern, high-efficiency boilers. These boilers not only reduce energy consumption but also lower the overall operational costs, making them an attractive investment for building owners and facility managers.
The growing construction sector is another significant factor contributing to the market growth of commercial boilers. As urbanisation continues to rise, especially in developing economies, the demand for commercial spaces such as offices, shopping malls, and educational institutions is expected to increase. This surge in construction activities is anticipated to drive the demand for commercial boilers, particularly in regions with colder climates where heating systems are essential for year-round operations.
As per the commercial boiler market analysis, the trend towards green building certifications and sustainability initiatives is further boosting the demand for commercial boilers. Many commercial properties are now incorporating energy-efficient technologies to meet the requirements of certifications such as LEED (Leadership in Energy and Environmental Design) and BREEAM (Building Research Establishment Environmental Assessment Method). Modern commercial boilers, with their improved energy efficiency and lower emissions, are an integral part of these sustainable building solutions. This is expected to contribute to the commercial boiler market expansion.
Further, the market dynamics are also being shaped by advancements in boiler technology. Manufacturers are continuously developing innovative boiler designs that offer higher performance, greater durability, and easier maintenance. Smart boilers equipped with IoT (Internet of Things) technology, for instance, allow building managers to monitor and control the heating system remotely, enabling real-time adjustments to improve efficiency and reduce energy costs.
The market is also witnessing a growing shift towards the adoption of electric and biomass boilers. Electric boilers, in particular, are gaining popularity due to their lower carbon footprint and the increasing availability of renewable energy sources. This is one of the key commercial boiler market trends. As governments worldwide promote the use of renewable energy to meet climate goals, the demand for electric boilers in commercial buildings is expected to rise significantly. Similarly, biomass boilers, which use organic materials like wood pellets and agricultural waste as fuel, are becoming an attractive option for commercial properties looking to reduce their reliance on fossil fuels. This is driving the commercial boiler market revenue.
The global market for commercial boiler is also benefiting from favourable government policies and incentives aimed at promoting the use of energy-efficient heating systems. In many regions, governments offer subsidies, tax credits, and rebates for businesses that invest in high-efficiency boilers, further driving the market growth.
Regionally, Europe holds a significant commercial boiler market share, owing to the region's cold climate and stringent energy efficiency regulations. Countries like Germany, the United Kingdom, and France are at the forefront of adopting advanced boiler technologies to meet their energy-saving and emission-reduction targets. Meanwhile, the Asia-Pacific region is expected to witness substantial growth during the forecast period, driven by rapid urbanisation, industrialisation, and the increasing focus on sustainable energy solutions in countries like China and India.
In conclusion, the global market for commercial boiler is being supported by the rising demand for energy-efficient heating systems, the expansion of the construction sector, and favourable government policies. As businesses continue to prioritise sustainability and operational efficiency, the adoption of advanced boiler technologies is expected to increase, further propelling the market forward. With ongoing innovations and a growing emphasis on reducing carbon emissions, the commercial boiler market will continue to play a vital role in the global transition towards a more sustainable and energy-efficient future.
Market Segmentation
Market Breakup by Technology
Condensing Non-Condensing
Market Breakup by Fuel Type
Natural Gas Oil Coal Others
Market Breakup by Capacity
Less Than 10 MMBtu/Hr 10-50 MMBtu/Hr Others
Market Breakup by End Use
Hospitals Offices Educational Institutions Others
Market Breakup by Region
North America Europe Asia Pacific Latin America Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global commercial boiler market. Some of the major players explored in the report are as follows:
Robert Bosch GmbH Ariston Holding N.V. SPX Corporation (WM Technologies LLC) Superior Boiler Cleaver-Brooks Company, Inc. Parker Boiler Co. Patterson-Kelley, LLC Fulton Boiler Works, Inc. Vaillant Group Energy Kinetics
Key Attributes
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