Commercial Boiler Market Worth $2.8 Bn by 2030 | Top Companies are Fulton Boiler, Parker Boiler, Vaillant Group, Bosch Thermotechnology, Cochran

The global commercial boiler market size was valued at $1.9 billion in 2020, and is projected to reach $2.8 billion by 2030, growing at a CAGR of 4.2% from 2021 to 2030.

A commercial boiler is a heating device designed to provide hot water or steam for heating large commercial or industrial spaces. These boilers are used in various settings such as office buildings, hotels, hospitals, schools, factories, and more, where there's a significant demand for space heating, hot water supply, or both. Commercial boilers are larger and more powerful than residential boilers, as they need to meet the higher heating requirements of larger spaces and a larger number of users.

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Here are some key features and aspects of commercial boilers:

Size and Capacity: Commercial boilers are larger in size compared to residential boilers. They are available in various sizes and capacities to meet the specific heating demands of different commercial spaces.

Fuel Sources: Commercial boilers can be fueled by a variety of sources, including natural gas, oil, propane, and in some cases, biomass or renewable energy sources. The choice of fuel depends on factors such as availability, cost, and environmental considerations.

Types of Boilers: There are several types of commercial boilers, including:

Fire-Tube Boilers: These boilers have tubes through which hot gases from combustion pass, heating the surrounding water. They are commonly used for applications with relatively lower pressure requirements.

Water-Tube Boilers: These boilers have water-filled tubes through which hot gases pass, heating the water within the tubes. They are often used for higher-pressure applications and can handle larger capacities.

Condensing Boilers: These boilers recover heat from the exhaust gases, improving overall efficiency. They are especially efficient when used with low-temperature heating systems.

Surge in emphasis on reducing greenhouse gas (GHG) emissions, as well as the enactment and strengthening of emission limits, are some of the major drivers driving the demand for energy efficient commercial boilers.

Major Companies

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.

Asia-Pacific commercial boiler market is projected to grow at the highest CAGR of nearly 6.1%, in terms of revenue, during the forecast period.

The commercial boiler market in the Europe is projected to be driven by a growing preference for environmentally friendly energy products, which is in line with legislation aimed at reducing carbon emissions.

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Segmentation

By technology, the non-condensing commercial boiler market is anticipated to witness robust growth subject to government mandates to reduce the greenhouse gas emissions.

By fuel type, the commercial boiler market is divided into oil, natural gas, coal, and others. Natural gas consumption has increased in comparison to other fuels as a result of the government's priority of natural gas, which has resulted in a rise in demand for natural gas in commercial boilers.

By capacity, the market is divided into less than 10 MMBtu/hr, 10-50 MMBtu/hr, 50-100 MMBtu/hr, 100-250 MMBtu/hr, and more than 250 MMBtu/hr. The less than 10 MMBtu/hr segment held the largest market share in 2020. These products are widely deployed across offices, retail stores, healthcare and lodging for heating applications.

By end user, the commercial boiler market for hospitals is anticipated to witness a strong growth on account of growing demand for hot water for sterilization of medical instruments, sheets and for space heating.

Applications: Commercial boilers can be used for various applications, including space heating, domestic hot water supply, and even industrial processes that require steam or hot water.

Efficiency: Modern commercial boilers are designed to be energy-efficient, with advanced features such as modulating burners, digital controls, and condensing technology.

Ventilation and Exhaust: Proper ventilation and exhaust systems are crucial for safe and efficient operation of commercial boilers. The combustion process produces exhaust gases that need to be safely vented out of the building.

Safety Features: Commercial boilers are equipped with various safety features, including pressure relief valves, temperature sensors, and flame monitoring systems to ensure safe operation.

Maintenance: Regular maintenance is essential to keep commercial boilers operating efficiently and safely. This includes cleaning, inspections, and addressing any issues promptly.

Control Systems: Commercial boilers often come with sophisticated control systems that allow for precise temperature and pressure control, as well as remote monitoring and adjustments.

Installation and Regulations: The installation of commercial boilers must adhere to building codes and regulations. Proper installation is necessary to ensure safety and efficient operation.

Impact Of COVID-19 On The Global Commercial Boiler Market

Some of the major economies suffering from the COVID-19 crises include Germany, France, Italy, Spain, the UK, Norway, and others. Many industries have been shut down due to lack of raw material availability and disruptions in the supply chain, owing to the virus outbreak. The worldwide lockdown has suspended the activities of educational institutions and lodging and many other sectors, which results in declining the demand for commercial boiler.

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Gaps in demand-supply, price volatility, and changes in government policy affect the growth of various end-use industries. In terms of its immediate and long-term effect on industry and consumers, the COVID-19 pandemic has outpaced any headwind ever encountered. The world economy of commercial boiler industries has been experiencing a rapid slowdown due to the constraints of the COVID-19 pandemic on economic activity.

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