Commercial Boiler Market at a CAGR of 4.2% during the forecast period

The Market Statsville Group (MSG) publishes the new report on the "Commercial Boiler Market by Fuel Type (Natural gas, Oil, Coal, and Others), by Technology (Condensing and Non-condensing), by Capacity (Less than 10 MMBtu/hr, 10-50 MMBtu/hr, and Others), by End-User (Offices, Hospitals, Educational Institutions, Lodging, and Others), by Region - Global Share and Forecast to 2027". In 2020, the global commercial boiler market size was 1.9 billion in 2020 and expected to grow USD 2.4 billion by 2027, at a CAGR of 4.2% during the forecast period. Energy-efficient solutions are expected to experience higher demand in the future. Energy-efficient boilers are required to lower future operating expenses, capital investment, and utility system expenses. Business boiler performance is an important factor in commercial facilities' efforts to reduce utility expenditures.

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The efficiency of a boiler is determined by the proportion of heat output to the amount of fuel used for maintenance and engineering operations in various industries, businesses aiming to deliver efficient boiler performance. Traditional heating systems have an efficiency of 56% to 70%, according to the U.S. Department of Energy, which is a significant loss in energy savings. Modern boilers and water heaters, on the other hand, have an efficiency of over 80%, which results in significant energy savings when utilized by a large number of people.

Global Commercial Boiler Market Segmentation
The commercial boiler market has been segmented into fuel type, technology, end-users, and region.

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By Fuel Type (Natural Gas, Oil, Coal, and Others)
By Technology (Condensing and Non-condensing), by Capacity (Less than 10 MMBtu/hr, 10-50 MMBtu/hr, and Others)
By End-User (Offices, Hospitals, Educational Institutions, Lodging, and Others)
By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
The non-condensing segment is expected to have the largest market share by technology throughout the projected period

On the basis of technology, the commercial boiler market is segmented into condensing and non-condensing. In 2020, the non-condensing segment generated the largest market share of 51.4% in the commercial boiler market. A non-condensing boiler features a single heat exchanger chamber through which hot gases from the burner flow to heat the water within the exchanger's walls before exiting through the flue.

A non-condensing boiler will work despite the weather conditions. No pipe should transfer the water from the back of the boiler with this sort of boiler, so pipes cannot freeze in any conditions, and there is no chance of the pipes getting cold or causing serious damage in the workplace. Furthermore, these gas boilers are less expensive than condensing boilers. These are small in size and exhibit a contemporary style. SVL, for example, offers RBI 8800 Series home boilers, which are designed to operate reliably and efficiently in a wide range of commercial boiler and hot water system applications. The 8800 is the ideal non-condensing alternative for applications that require high quantities of hot water, such as schools, hotels, laundries, hospitals, and car washes.

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The Asia Pacific accounts for the largest market share in the commercial boiler market 2020

Region-wise, the commercial boiler market is segmented into North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, Asia Pacific led the global market for commercial boiler, with a market share of 41.1% in the global commercial boiler market, and was anticipated to maintain its dominance throughout the forecast period. Asia-Pacific comprises China, Japan, India, South Korea, and the Rest of Asia-Pacific. This region is estimated to exhibit the fastest growth rate and highest potential for commercial boilers among all regions globally. Asia- Pacific is among the fastest-growing regions due to countries such as India, China, and Japan. The developments in the economies of the region fuel the growth in an array of sectors, such as offices, hospitals, educational institutions, and lodging.

The rapid development rate is attributed to the rise in demand for boilers in China. Many developing countries in the region are experiencing rapid expansion in their industrial sectors. The region has evolved into a global manufacturing hub with a varied range of manufacturing and processing businesses. Along with China's transformation into a high-skilled manufacturing powerhouse, other developing countries like India, South Korea, Taiwan, and Vietnam boost the growth of the enterprises looking to shift their low- to medium-skilled manufacturing operations to nations with lower labor costs.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the commercial boiler market. It also consists of leading companies such as Cochran Limited, Bosch Thermotechnology, A.O. Smith Corporation, Parker Boiler, Slant/Fin Corporation, Cleaver-Brooks, Fulton Boiler Company, Vaillant Group, Weil-McLain, and Superior Boiler Works, Inc., holding a significant share of the market. These market players have focused on acquisitions and expansion to gain a larger market share in the commercial boiler market.

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