U.S. Commercial Boiler Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The U.S. commercial boiler market, valued at USD 2,326.6 million in 2023, is projected to grow at a CAGR of 6% by 2032. Public entities and federal and state governments are driving the development and expansion of commercial facilities, creating a favorable business environment.

For example, national healthcare expenditures exceeded USD 4.5 trillion in 2023. Commercial boilers are essential in various industries, providing reliable heat and hot water. They feature energy efficiency controls, safety mechanisms, and automation, ensuring optimal performance, reduced costs, and compliance with environmental regulations. Low winter temperatures and increasing space heating demand, along with the upgrading of existing commercial facilities, are boosting the boiler market. Foreign investments and strong macroeconomic indicators are also driving installations.

The overall U.S. commercial boiler industry is classified based on fuel, capacity, technology, product, application, and country.

The office commercial boiler market is projected to exceed USD 800 million by 2032. These boilers are used for space heating in offices, including administrative centers, non-diagnostic medical facilities, banks, and other service-oriented establishments. A positive outlook for the service sector has spurred investments in new office constructions. Upgrading existing facilities by replacing traditional boiler systems is expected to drive industry growth. The positive growth outlook in the service sector, combined with a surge in new office constructions, has led to increased investments in commercial boilers. Additionally, many companies are looking to upgrade their existing office spaces by replacing older, less efficient heating systems with modern boiler technologies that offer higher energy efficiency and better environmental performance.

The commercial boiler market from the natural gas segment is expected to grow at a rate exceeding 5.5% by 2032. These boilers primarily use natural gas or propane. Competitive natural gas pricing and a shift towards sustainable technologies have boosted demand for gas-fired boilers. Demand is particularly strong in nations enforcing strict regulations to reduce fossil fuel dependency, enhancing the industry's potential. Countries with stringent regulations aimed at reducing fossil fuel dependency are particularly boosting the demand for natural gas boilers, as they look to minimize greenhouse gas emissions while maintaining reliable heating infrastructure.

The South Atlantic commercial boiler market is on track to exceed USD 750 million by 2032. Growth in this region is driven by extreme weather conditions and a booming real estate sector. State governments are introducing incentives and rebate programs to promote clean technology adoption. For instance, in January 2023, the National Energy Improvement Fund (NEIF) launched a financing scheme offering low-interest loans starting at 1.99% for electric and natural gas energy efficiency projects. State governments in the South Atlantic are actively encouraging the adoption of clean energy technologies through various incentives and rebate programs.

Product Code: 1564

Chapter 1 Methodology and Scope

1.1 Market scope and definitions
1.2 Market estimates and forecast parameters
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid
  - 1.4.2.2 Public

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Regulatory landscape
3.3 Industry impact forces
- 3.3.1 Growth drivers
- 3.3.2 Industry pitfalls and challenges
3.4 Growth potential analysis
3.5 Porter's analysis
- 3.5.1 Bargaining power of suppliers
- 3.5.2 Bargaining power of buyers
- 3.5.3 Threat of new entrants
- 3.5.4 Threat of substitutes
3.6 PESTEL analysis

Chapter 4 Competitive Landscape, 2024

4.1 Strategic outlook
4.2 Innovation and sustainability landscape

Chapter 5 Market Size and Forecast, By Fuel (USD Million, MMBTU/hr and Units)

5.1 Key trends
5.2 Natural gas
5.3 Oil
5.4 Coal
5.5 Others

Chapter 6 Market Size and Forecast, By Capacity (USD Million, MMBTU/hr and Units)

6.1 Key trends
6.2 0.3 - 2.5 MMBtu/hr
6.3 2.5 - 10 MMBtu/hr
6.4 10 - 50 MMBtu/hr
6.5 50 - 100 MMBtu/hr
6.6 100 - 250 MMBtu/hr

Chapter 7 Market Size and Forecast, By Technology (USD Million, MMBTU/hr and Units)

7.1 Key trends
7.2 Condensing
7.3 Non-condensing

Chapter 8 Market Size and Forecast, By Product (USD Million, MMBTU/hr and Units)

8.1 Key trends
8.2 Hot water
8.3 Steam

Chapter 9 Market Size and Forecast, By Application (USD Million, MMBTU/hr and Units)

9.1 Key trends
9.2 Offices
9.3 Healthcare facilities
9.4 Educational institutions
9.5 Lodgings
9.6 Retail stores
9.7 Others

Chapter 10 Market Size and Forecast, By Region (USD Million, MMBTU/hr and Units)

10.1 Key trends
10.2 East North Central
- 10.2.1 Illinois
- 10.2.2 Indiana
- 10.2.3 Michigan
- 10.2.4 Ohio
- 10.2.5 Wisconsin
10.3 West South Central
- 10.3.1 Arkansas
- 10.3.2 Louisiana
- 10.3.3 Oklahoma
- 10.3.4 Texas
10.4 South Atlantic
- 10.4.1 Delaware
- 10.4.2 Florida
- 10.4.3 Georgia
- 10.4.4 Maryland
- 10.4.5 North Carolina
- 10.4.6 South Carolina
- 10.4.7 Virginia
- 10.4.8 West Virginia
- 10.4.9 Washington D.C.
10.5 North East
- 10.5.1 Connecticut
- 10.5.2 Maine
- 10.5.3 Massachusetts
- 10.5.4 New Hampshire
- 10.5.5 Rhode Island
- 10.5.6 Vermont
- 10.5.7 New Jersey
- 10.5.8 New York
- 10.5.9 Pennsylvania
10.6 East South Central
- 10.6.1 Kentucky
- 10.6.2 Alabama
- 10.6.3 Mississippi
- 10.6.4 Tennessee
10.7 West North Central
- 10.7.1 Kansas
- 10.7.2 Iowa
- 10.7.3 Missouri
- 10.7.4 Minnesota
- 10.7.5 North Dakota
- 10.7.6 Nebraska
- 10.7.7 South Dakota
10.8 Pacific States
- 10.8.1 California
- 10.8.2 Alaska
- 10.8.3 Oregon
- 10.8.4 Hawaii
- 10.8.5 Washington
10.9 Mountain States
- 10.9.1 Colorado
- 10.9.2 Arizona
- 10.9.3 Nevada
- 10.9.4 Utah
- 10.9.5 Idaho
- 10.9.6 New Mexico
- 10.9.7 Montana
- 10.9.8 Wyoming

Chapter 11 Company Profiles

11.1 A.O. Smith
11.2 Babcock and Wilcox Enterprises, Inc.
11.3 Bradford White Corporation, USA
11.4 Burnham Commercial Boilers
11.5 Clayton Industries
11.6 Cleaver-Brooks
11.7 Fulton
11.8 Hurst Boiler and Welding Co, Inc.
11.9 Lennox International Inc.
11.10 Miura America Co., LTD.
11.11 Parker Boiler
11.12 Precision Boilers
11.13 Robert Bosch GmbH
11.14 Superior Boiler
11.15 Vaillant Group
11.16 Vapor Power International
11.17 Viessmann
11.18 WM Technologies LLC