Press release
Global Residential Boiler is set to reach over 10 million units by 2024
Ohio commercial boiler market size is predicted to exceed USD 50 million in 2024. Growing focus towards education and healthcare sector along with rising investments towards energy efficient buildings will stimulate the product demand. In 2015, construction sector in Ohio was valued over USD 22 billion witnessing growth of over 6%.
Growing demand for efficient space heating systems from cold climatic zones will drive the commercial boiler market. Alaska, North Dakota, South Dakota and Minnesota are some of the coldest states in the region with an average winter temperature below 12°F. In Minnesota, lodgings, food service and healthcare are some of the prominent sectors where these systems are installed.
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Advancement of technology coupled with growing demand for energy efficient heating systems will boost the commercial boiler market share. Building automation systems, remote diagnostics and boiler to boiler communication are some of the advanced technologies which may further complement the business landscape.
Introduction of federal and state regulations & standards towards carbon emission reduction will stimulate commercial boiler market growth. Replacement and retrofitting of existing heating furnace may further boost the product demand. Government has introduced National Emission Standards for Hazardous Air Pollutants with the aim to restrict emissions of various pollutants including mercury, carbon mono oxide and particulate matter.
Natural gas commercial boiler market share is set to experience robust growth owing to its abundant availability and easy storage. Gas fired units also offer distinct advantages which include absence of soot, low noise and reduced operating costs. Texas, California, New York, Louisiana and Illinois are some of the highest gas consuming states.
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Lodging in 2016 accounted for over 11% of the U.S. commercial boiler market share. These products are primarily used for steam and hot water generation in dormitories, hotels, guest cottages, retirement and nursing homes. Increasing investment toward hospitality and tourism sector will stimulate the product demand.
Rising demand for high efficiency heating systems with strict government regulations towards environmental pollution will propel condensing commercial boiler market. Low fuel consumption, high efficiency and low running costs are some of the key parameters which makes its adoption preferable over other alternatives. Positive outlook towards healthcare sector along with growing investment toward upgradation of warehouse facilities will boost the demand for >10MMBtu/hr capacity boilers.
Delaware commercial boiler market is predicted to witness growth over 4% owing to rising investment towards healthcare and services sectors. In 2015, Medicare and Medicaid spending in Delaware exceeded USD 1.7 billion. Flourishing tourism sector will further fuel the business growth.
Browse Related Report:
Global Residential Boiler Market Size By Technology (Condensing, Non-Condensing), By Product (Fire-tube, Water-tube), By Fuel (Natural Gas, Oil, Coal) Analysis Report, Regional Outlook (U.S., Canada, Mexico, France, UK, Poland, Italy, Spain, Austria, Germany, Sweden, Russia, China, India, Philippines, Japan, South Korea, Australia, Indonesia, Saudi Arabia, Iran, UAE, Nigeria, South Africa, Argentina, Chile, Brazil), Competitive Market Analysis & Forecast, 2017 – 2024
https://www.gminsights.com/industry-analysis/residential-boiler-market
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