COMMERCIAL BOILER MARKET ANALYSIS

Market Challenges And Opportunities

Global Commercial boiler Market Drivers:

Expansion of commercial tourism infrastructure

High summer temperatures and harsh winter temperatures characterize these states, resulting in highly seasonal space heating demand. Mountain states are anticipated to experience considerable development in the Global Commercial boiler industry due to rise in disposable income and increased number of tourists throughout the winter season. Due to a steady hot water demand from the hotel sector, the region's growing tourism sector is projected to make way for industry expansion. Moreover, as the educational sector in the state develops, there will be a greater demand for efficient heating systems in the institutions, which is expected to complement the deployment of Global Commercial boiler systems. For instance, The Ministry of Tourism Of India is set to host the First Global Tourism Investors Summit in 2023 in collaboration with Central Ministries and State/UT Governments. This mega event aims to highlight investment and trade opportunities while providing a platform for international investors to discover India's diverse tourism products and services.

Surge in adoption of energy efficient solution

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. 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 Opportunities:

Rise in the demand for compact design of the steam boiler

Convenient space is the major cause of concern for plant installations and existing plant expansions. Components such as the boiler, economizer, super-heater, and air preheater in process industries should have a compact design to maximize space use. With capacity installations, there is less room on the floor for utility devices. The necessity to maximize space has resulted in a significant demand for steam boilers with compact designs and low fuel use. Boiler manufacturers are focused on promoting steam boilers that are customized for different process requirements in various industries such as offices, hospitals, educational institutions, and lodging.

Global Commercial boiler Market Restraints:

High cost involved in installation

The cost of steam boilers differs due to the design characteristics and differing levels of after-sales service. In comparison to regular steam boilers, budget steam boilers have shorter lifespans, fewer warranties, and less customer service. Recent developments in metals and technology has improved the boilers and made them able to perform better. The cost of installing a steam boiler system is an important factor, it is one of the most important investments a manufacturing firm can make. The cost of installing steam boilers accounts for 15-20% of the entire boiler cost. This cost is expected to remain the same since the the high level technical expertise involved in the operation of steam boilers and separate construction of boiler houses in the utility area.