The global commercial boiler market size surpassed at US$ 1.8 billion in 2020, and expected to reach US$ 2.7 billion by 2030, growing at a CAGR of 4.1% from 2021 to 2030. A commercial boiler is a pressurized system that creates heat by burning combustible fuel to provide heating for residential and commercial buildings. Burner, combustion chamber, heat exchanger, controls, and exhaust stacks are just a few of the components that make up a commercial boiler. These add-ons are essential for a commercial boiler's optimal operation. However, due to efficient operation of commercial boilers, regional governments have mandated the installation of safety accessories in commercial boilers under the Code of Federal Regulations (CFR) and the India Boiler Regulation (IBR).
Over the projected period, sales of commercial boilers isexpected to increase due to rise in the number of commercial and residential buildings, as well as increased safety rules for heating equipment.Furthermore, most commercial boiler manufacturers are putting safety relief valves in current and new commercial boilers to release excessive pressure and improve performance and efficiency, which is also a major driver of the global market.
One of the most important factors projected to decrease overall sales of commercial boilers throughout the projection period is the high expense of frequent cleaning and maintenance. The focus of a leading commercial boiler manufacturer is on creating compact designs and energy-efficient accessories for commercial boilers. Furthermore, manufacturers are producing industrial boilers in accordance with regulatory standards. This has been a supply-side trend in the worldwide commercial boiler market, and is expected to continue during the forecast period.
Manufacturing activities have been stopped partially or completely due to lack of raw material availability and disruptions in the supply chain with lockdown restriction implemented by governments of many countries.
The worldwide lockdown also restricted the activities of educational institutions, lodging, and many other sectors, which in turn, declined the demand for commercial boiler.
The demand is expected to rise during the post-lockdown as daily operations across end user industries resume with full capacity.
Based on fuel type, the natural gas segment held the largest market share, accounting for more than one-third of the total market share in 2020, and is estimated to continue its lead position throughout the forecast period. Moreover, this segment is expected to register the highest CAGR of 4.5% from 2021 to 2030.
Based on technology, the non-condensing segment accounted for the highest market share in 2020, contributing to more than half of the global commercial boiler market, and is estimated to continue its lead position during the forecast period. However, the condensing segment is expected to manifest the largest CAGR of 5.0% from 2021 to 2030.
Based on region, Europe contributed to the highest market share in 2020, accounting for more than two-fifths of the total share, and is projected to maintain its dominance in terms of revenue by 2030. However, Asia-Pacific is estimated to portray the highest CAGR of 6.1% during the forecast period.
The manufacturers studied and profiled in the commercial boiler industry include A.O. Smith Corporation, Bosch Thermotechnology, Cochran Limited, Cleaver-Brooks, Fulton Boiler Company, Parker Boiler, Slant/Fin Corporation, Superior Boiler Works, Inc., Vaillant Group, and Weil-McLain.
Key Market Segments
By Fuel Type
By End User
Scope of Report
The latest study analyzes the historical and present-day scenario of the global commercial boiler market in order to accurately gauge its future growth. The study presents detailed information about the important growth factors, restraints, and trends that are creating a landscape for the growth of the global commercial boiler market so as to identify growth opportunities for market stakeholders. The report also provides insightful information about how the global commercial boiler market would expand during the forecast period of 2021 to 2031.
The report offers intricate dynamics about different aspects of the global commercial boiler market, which aids companies operating in the market in making strategic development decisions. VRR’s study also elaborates on significant changes that are highly anticipated to configure growth of the global commercial boiler market during the forecast period. It also includes a key indicator assessment that highlights growth prospects of the global commercial boiler market and estimates statistics related to growth of the market in terms of value (US$ Mn) and volume (kilo tons).
This study covers a detailed segmentation of the global commercial boiler market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global commercial boiler market, wherein various development, expansion, and winning strategies practiced and implemented by leading players have been presented in detail.
The report provides detailed information about the global commercial boiler market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the global market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global commercial boiler market, so as to help them design successful strategies and make target-driven decisions.
- Which end-use industry segment of the global commercial boiler market would emerge as a major revenue generator during the forecast period?
- How are key market players successfully earning revenues out of advantages of commercial boiler?
- What would be the Y-o-Y growth trend of the global commercial boiler market between 2021 and 2031?
- What are the winning imperatives of leading players operating in the global commercial boiler market?
- Which application segment is expected to create lucrative opportunities for the global commercial boiler market during the forecast period?
- Which are leading companies operating in the global commercial boiler market?
The research methodology adopted by analysts for compiling the global commercial boiler market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global commercial boiler market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine sources, analysts have emphasized the changing scenario of the global commercial boiler market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global commercial boiler market.
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