Market Overview
According to the report, the global Commercial Boilers market was valued at approximately USD 14,945 million in 2019 and is expected to generate revenue of around USD 19,495 million by 2026, growing at a CAGR of roughly 3.89% from 2019 and 2026.
Commercial boilers are pressurized systems that burn combustible fuel or use electricity to heat water for heating buildings. Some types of boilers use hot water itself, while other types of boilers rely on water that has been converted to steam. Inside the boiler, the burner or electrical coil generates heat that is transferred to the water through the heat exchanger. Depending on the type of boiler, this process produces hot water or steam. Hot water or steam circulates through the pipes of the entire commercial facility. Water or steam enters the radiator or other components that dissipate heat, providing you with the heating you need for the comfort of your interior.
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Key Players
Key players in the Commercial Boilers market cover OKI, Viessmann Werke GmbH & Co KG, Bosch's Thermotechnology, HTP, Lochinvar, British Gas, Vaillant, Lennox, Bryant Carrier, ECR International, Ferroli Industrial Heating, Erensan, Hurst Boiler, ATTSU TERMICA,Teha, Byworth Boilers, Caldereria Lopez Hermanos, Pirobloc, Proodos Industrial Boilers, Weishaupt, OLMAR, Magnabosco, Indeck Group, Sellers Manufacturing, and BDR Thermea.
Market Drivers
The growing need for space heating and hot water across cold regions coupled with increasing demand for high-efficiency heating systems will drive the global market growth. Government initiatives toward renovation and substitution of inefficient building infrastructures will further enhance the industry size. Growing focus toward minimization of Greenhouse Gas (GHG) emissions coupled with enactment and strengthening of emission standards are some of the paramount factors which will drive the demand for energy efficient commercial boilers. The respective governments and investors are continuously focusing toward deployment of energy efficient devices and the development of economically and ecologically sustainable commercial infrastructure.
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Forecast by Geography
North America dominates the Commercial Boilers market with a share of 32.98%, followed by the Asia Pacific and Europe with a share of 31.27% and 28.74%. The U.S. market will witness strong growth on account of stringent federal legislatives to limit carbon footprints from commercial infrastructures coupled with investments toward replacement and upgradation of conventional heating units. The federal government in conjunction with the respective state agencies has introduced a range of measures to curb the rising air pollution. For instance, the Environmental Protection Agency (EPA) has adopted the New Source Performance Standards (NSPS), for the commercial steam boiler, which comprise the emission standards for air pollutants including particulate matters, SO2 and NO2 from boilers. China market will witness robust growth owing to rapid urbanization and investments toward the development of commercial centers
Type Segment
Based on the type, the Commercial Boilers market is divided into Biomass Boiler, Coal Boiler, and Oil & Gas Boiler.
Application Segment Analysis
Based on application, the Commercial Boilers market can be segmented into Office Building, Hospitals, and Schools.
Hospital commercial boiler market will witness a strong growth on account of growing demand for hot water for sterilization of medical instruments, sheets and for space heating. Rising government and private investment toward expansion and modernization of healthcare infrastructure will further fuel the product demand. According to the U.S. Centers for Medicare and Medicaid Services, total expense on healthcare in 2018 was estimated to be USD 3.5 trillion, which is projected to reach USD 5.8 trillion by 2026.
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Target Audience
l Commercial Boilers manufacturers
l Distributors and resellers of Commercial Boilers
l Commercial Boilers industry associations
l Product managers, Commercial Boilers industry administrator, C-level executives of the industries
l Market Research and consulting firms
l Small and Medium-sized Enterprises (SMEs)
l Raw material suppliers of Commercial Boilers
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