Press release
At 3.5% CAGR, Commercial Boiler Market to cross US $15bn by 2024
Government efforts to encourage sustainable heating units and reduce carbon emissions will further complement the product adoption. For instance, the EU adopted Performance of Buildings Directive (EU) 2018/844, with an aim to achieve zero carbon emission from buildings by 2050.
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Ongoing investments across the commercial sector toward development of economically & ecologically sustainable infrastructure will fuel the global market. For instance, in 2017 the European Commission has introduced Framework Level(s), with an aim to improve sustainability of buildings. Furthermore, introduction of stringent emission and standards along with rising concerns to mitigate the effects of global warming will positively influence the demand for energy efficient steam generating units.
Healthcare commercial boiler market will witness robust growth on account of growing demand for hot water for cleansing of medical equipment, floors and sheets. Moreover, ongoing investments toward expansion and upgradation of existing healthcare facilities will complement the product deployment. According to the Centers for Medicare and Medicaid Services, in 2017, the U.S. invested around USD 3.5 trillion toward development of healthcare facilities.
An insight into U.S. Commercial Boiler market
The U.S. market is anticipated to exceed an annual installation of 80 thousand units by 2024. Rapid increase in population coupled with burgeoning economic growth will drive the business growth in the near future. According to World Bank, the U.S. witnessed a population growth of 6.1 % between 2009 & 2017, and a GDP growth of 34.5% within the same period.
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Introduction of stringent regulatory reforms toward the minimization of GHG emissions will drive the condensing commercial boiler market growth. The U.S. EPA adopted National Emission Standards for Hazardous Air Pollutants with an aim to reduce GHG emissions from commercial and industrial infrastructures. Simple control, compact design and reliable operation, are some of the prominent features that will fuel the product deployment.
Gas fired commercial boiler market is set to witness a growth of over 3% by 2024. Relatively lower operation cost, low carbon emissions and less maintenance requirement will propel the product adoption. Ongoing investments toward expansion and development of gas network will further boost the industry growth. According to the European Commission, in 2016, the European Union invested around USD 200 million for the development of Balticconnector, a gas pipeline network between Finland and Estonia.
Key industry players operating in the global market include Hurst, Parker, Fulton, NIBE, Viessmann, A.O. Smith, Miura, Lattner, Atlantic, Babcock and Wilcox, Weil-McLain Bosch, and Johnston.
Report Content
Chapter 4. Global Commercial Boiler Market, By Fuel
4.1. Global commercial boiler market share by fuel, 2017 & 2024
4.2. Natural gas
4.2.1. Global market by natural gas, 2013 - 2024
4.2.2. Global market by natural gas, by region, 2013 - 2024
4.3. Oil
4.3.1. Global market by oil, 2013 - 2024
4.3.2. Global market by oil, by region, 2013 - 2024
4.4. Coal
4.4.1. Global market by coal, 2013 - 2024
4.4.2. Global market by coal, by region, 2013 - 2024
4.5. Others
4.5.1. Global market by others, 2013 - 2024
4.5.2. Global market by others, by region, 2013 - 2024
Chapter 5. Global Commercial Boiler Market, By Application
5.1. Global commercial boiler market share by application, 2017 & 2024
5.2. Offices
5.2.1. Global market by offices, 2013 - 2024
5.2.2. Global market by offices, by region, 2013 - 2024
5.3. Healthcare
5.3.1. Global market by healthcare, 2013 - 2024
5.3.2. Global market by healthcare, by region, 2013 - 2024
5.4. Institutions
5.4.1. Global market by institutions, 2013 - 2024
5.4.2. Global market by institutions, by region, 2013 - 2024
5.5. Lodgings
5.5.1. Global market by lodgings, 2013 - 2024
5.5.2. Global market by lodgings, by region, 2013 - 2024
5.6. Retail
5.6.1. Global market by retail, 2013 - 2024
5.6.2. Global market by retail, by region, 2013 - 2024
5.7. Others
5.7.1. Global market by others, 2013 - 2024
5.7.2. Global market by others, by region, 2013 - 2024
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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