Market Size of Commercial Boilers Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.63 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Commercial Boilers Market Analysis
The Commercial Boilers Market is expected to witness growth at a CAGR of 4.63% over the forecast period. The outbreak of COVID 19 has hampered the market by restricting the manufacturing operation of essential water heating and water treatment products. Various government bodies worldwide have imposed a strict lockdown, resulting in different commercial projects shutting down. As a result, operations in commercial building sectors such as offices, educational institutions, and the hospitality industry have impacted the market.
- A commercial boiler is a pressurized system that creates heat by burning a combustible fuel to provide heating for residential and commercial buildings. The burner, combustion chamber, heat exchanger, controls, and exhaust stacks are just a few of the components that make up a commercial boiler.
- These components are essential for a commercial boiler's optimal operation. However, due to the efficient operation of commercial boilers, governments in various regions, including India, have mandated the installation of safety accessories in commercial boilers under the Code of Federal Regulations (CFR) and the India Boiler Regulation (IBR).
- Moreover, the escalating demand for space heating in commercial spaces represents the primary factor driving the market growth. Besides this, the rising adoption of energy-efficient solutions, coupled with the increasing investments in developing green buildings to minimize carbon emissions, is augmenting the demand for commercial boilers.
- Additionally, governments of various countries are taking several favorable initiatives to install new commercial boilers and upgrade the existing ones. Implementing stringent environmental regulations accelerates product adoption rates as modern commercial boiler technologies offer greater efficiency and lower emission discharge.
- In April 2022, Bosch Commercial & Industrial announced the launch of its latest commercial boiler series, the Condens 7000 WP. The new series replaces the popular Worcester Bosch GB162 V2 with a unique design developed to increase install time with simplicity in mind. Moreover, installers can expect to save up to 60% on average installation times when fitting the Condens 7000 WP compared to the GB162 V2, freeing up time to complete other installs or wider administrative work.
