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Global Commercial Boilers Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024
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Global Consumption Of Commercial Boilers Is 191.2 Thousand Units In 2019
Commercial Boilers, which include the subcategory of institutional boilers, are normally used to produce steam and heat water for space heating in offices, hotels, apartment buildings, hospitals, schools and similar facilities.
Commercial boilers are mainly classified into the following types: oil & gas boiler, coal boiler, biomass boiler, etc. Oil & gas boiler is the most widely used type which takes up about 90% of the global market in 2018.
Europe and USA are the main consumption regions of commercial boilers in the world in the past few years and it will keep the same position in the next few years. The market size of Asia-Pacific region will grow fast in the following years.
Viessmann, Bosch Thermotechnology, A. O. Smith, Vaillant, BDR Thermea, Ferroli, Group Atlantic, Weil-McLain, AERCO, etc. are the key suppliers in global market, which have leading technology and market position.
Global consumption of commercial boilers will rise up from 163.8 thousand units in 2014 to 191.2 thousand units in 2019, with an average annual growth rate of 3.15%. At the same time, the revenue of global commercial boilers market has a leap from 1.75 billion USD to 2.04 billion USD. The reason causes this increase is the growing demand for the commercial boilers, which is the result of the growing needs of downstream industry.
The downstream industries of commercial boilers products are schools, hospitals, office building, retail and warehouse, etc. In the recent years, with the recovery of global economic and the development of emerging countries, the consumption increase of commercial boilers has been obvious. In the foreseeable future, the commercial boilers products will show an optimistic upward trend.
Although sales of commercial boilers bring a lot of opportunities, the study group recommends the new entrants who just have money but without technical advantage, raw materials advantage and downstream support, do not enter the commercial boilers field hastily.
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