COMMERCIAL BOILER MARKET ANALYSIS

Commercial boiler MarketSize and Trends

The Global Commercial boiler market size is estimated to be valued at US$ 2.02 billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 4.3% from 2023 to 2030.

Figure 1. Global Commercial boiler Market Share (%) in terms of Value, By Region, in 2022

Figure 2. Global Commercial boiler Market Share (%) in terms of Value, By Fuel Type, in 2022

Global Commercial boiler Market Trends:

Growth in Infrastructure

Commercial properties are the major lifeline of economy and increased the demand of various amenities. One of the major factors responsible for the growth of the Global Commercial boiler market is rise in demand for offices, showrooms. Rise in the demand for heat systems such as blower, geysers, and others in offices led to increase in demand for commercial boiler, which drives the growth of the Global Commercial boiler market. Major healthy factors of hot water led to increase in demand in boilers in offices and creates ample of opportunities for the growth of the Global Commercial boiler market. Many offices of pharmaceutical, pathology requires hot water for their initial sampling process which also act as the growth factor for Global Commercial boiler market. In addition, increase in work from home jobs day by day limit the market growth. Moreover, surge in comfort level of people owing to the increase in demand for Global Commercial boiler in offices, is projected to drive the Global Commercial boiler market growth from 2021 to 2030.

Rise in popularity for low initial investment and maintenance cost products

Various business entities, such as public assemblies, motels, offices, schools, institutions, shopping center, and healthcare facilities, use these boilers. Low initial investment and maintenance costs, convenience of installation, and the ability to generate quick hot water and steam are just a few of the advantages of using low-capacity boilers over other available options. Furthermore, compact size, ease of maintenance, and long service life are some of the important aspects that are helping 10 MMBtu/hr Global Commercial boiler systems gain market share. Increased investment in the commercial sector across the country is expected to drive the demand for energy-efficient space heating solutions, resulting in market growth. Hence, it is expected that the demand for Global Commercial boiler market will rise in future.