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The global commercial boiler market size was approximately USD 1.32 billion in 2023. The market is further projected to grow at a CAGR of 4.3% between 2024 and 2032, reaching a value of USD 1.94 billion by 2032.
A commercial boiler is a pressurised system that is used to provide heating in a non-domestic or commercial building. Using the power of electricity or by burning combustible fuel, the boiler provides hot water or steam which enters the radiators. From the radiator, the heat is disbursed throughout the building to maintain a comfortable atmosphere.
The commercial boiler market is being aided by increased demand for heating in commercial establishments to perform a range of applications. They are highly energy efficient and can operate on a wide range of fuels, including natural gas and coal, and come in varying capacities. Modern heating systems also offer energy saving benefits and can be utilised by multiple industries for achieving improved efficiency during various processes and operations.
Innovations in boiler size and usage; integration of water softener systems and IIoT technology; and boilers facilitating low NOx (nitrogen oxides- NO and NO2) emissions are the major trends impacting the demand for commercial boilers
Date | Company | Event |
Oct 31st 2023 | Superior Boiler | Signs a memorandum of understanding with Jericho Energy Ventures Inc. to manufacture an eco-friendly boiler in the USA |
Oct 18th 2023 | Andritz | Receives the order for supplying a boiler plant to a waste-to-energy facility operated by Idex in France |
Aug 7th 2023 | Kyungdong Navien Co. and Kiturami Boiler Co. | Step up efforts to expand into Central and South American markets |
Mar 10th 2023 | Baxi | Delivers its hydrogen boilers to the H100 Fife Project, which was built in collaboration between SGN and Fife Council |
Innovations | Details |
Boiler size and usage | The decreasing size of condensing boilers, along with their simple installation techniques, like plug-and-play, is expected to enhance the installation of commercial boilers. |
Water softener treatment systems | Integration of water softener treatment systems prevents clogging of waterways in small boilers and prevents build-up of impurities in heat exchangers, offering improved efficiency. |
IIoT technology | The Industrial Internet of Things is enabling end users to manage boiler applications from mobile devices, facilitating seamless operations. |
Low NOx emitting boilers | Boilers that emit comparatively lesser amounts of nitrogen oxide into the environment are in great demand to meet stringent emission requirements (30 ppm or less). |
Nowadays, commercial boilers are being equipped with wi-fi connectivity features, which enables businesses to monitor and control operations remotely. The industrial internet of things is also enabling boiler manufacturers to research about new product components and provide customers with the latest and most advanced systems. The growing technological integration to enhance product performance and efficiency is a prominent trend in the commercial boiler market.
Besides, the growing demand for boilers that support lower emissions is encouraging manufacturers to collaborate, design, and launch improved products. Superior Boiler is an American company based in Kansas. Its partnership with Jericho Energy Ventures Inc., announced in October 2023, will allow the company to deliver the Dynamic Combustion Chamber boiler, a zero-emission, hydrogen-fueled boiler, to all the lower 48 states in the US, along with other markets. This innovative boiler is highly energy efficient and produces zero carbon dioxide emissions. Such partnerships or strategies are expected to allow companies to capitalise on this opportunity and become an important supplier of eco-friendly steam for various industrial and commercial applications.
“Global Commercial Boiler Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup | Categories |
Technology | Condensing, Non-Condensing |
Fuel Type | Natural gas, Oil, Coal, Others |
Capacity | Less than 10MMBtu/Hr, 10-50MMBtu/Hr, Others |
End-Use | Hospitals, Offices, Educational Institutions, Others |
Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
Condensing technology is expected to significantly contribute to the commercial boiler market revenue, supported by its improved efficiency rates
The condensing technology holds a significant portion of the commercial boiler market share. This technology offers greater energy saving benefits, as boilers running on this technology take up additional heat by condensing the water vapour in the gases. As a result, a boiler using gas as a fuel and operating on condensing technology has the capability to deliver extremely high-efficiency levels, as much as 99%. It thus allow users to save on gas bills as well.
Based on fuel types, natural gas is expected to witness an increased demand due to its several advantages
Natural gas is one of the leading fuel types in the commercial boiler market. Its popularity can be attributed to its advantages such as high heat value, negligible ash content, and economic benefits.
Other fuel types such as oil, coal, and biofuels, can also be used to power commercial boilers. The availability of fuel at the location of installation of commercial boilers guides end users’ fuel choice. Further, two fuels can also be used in the same boiler if the need for a secure supply is important.
Gas is majorly used as a main fuel and oil as an alternative, wherein oil is delivered through road tankers and gas is transferred via the gas distribution system. The environmental cost associated with natural gas is relatively less as its CO2, NOx and SO2 emissions are low. Besides, biofuels such as lean gases, sewage gases and biogases, can also be used in commercial boilers.
The market players are focusing on cross-industry collaborations to offer improved heating solutions for diverse sectors, integrating latest technologies while offering energy saving benefits
Company | Founded | Headquarters | Specialisation |
Robert Bosch GmbH | 1886 | Stuttgart, Germany | Mobility and industrial technology, among others |
Ariston Holding N.V. | 1930 | Milan, Italy | Renewable and high efficiency products, leader in thermal comfort |
Vaillant Group | 1874 | Remscheid, Germany | Heating, ventilation, and air-conditioning technology |
SPX Corporation (WM Technologies LLC) | 1881 | North Carolina, United States | Engineered products in the HVAC market |
Other notable players in the commercial boiler market are Superior Boiler, Cleaver-Brooks Company, Inc., Parker Boiler Co., Patterson-Kelley, LLC, Fulton Boiler Works, Inc., and Energy Kinetics, among others.
The Asia Pacific commercial boiler market is expected to be a key revenue generator over the forecast period. This is because of the expansion and development of commercial establishments in the region that demand higher number of heating systems for improved operations. Further, with India and China emerging as key manufacturing hubs, the demand for commercial boilers is likely to receive a big boost.
North America is expected to witness an uptick in the demand for commercial boilers. This trend can also be observed in Europe. In Latin America, countries like Brazil and Argentina are witnessing rapid infrastructural development, supported by growing industrialisation and urbanisation, which drives the installation of commercial boilers.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Technology |
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Breakup by Fuel Type |
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Breakup by Capacity |
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Breakup by End Use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market reached an approximate value of USD 1.32 billion.
The market is expected to grow at a CAGR of 4.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 1.94 billion by 2032.
The market is being driven by rapid industrialisation and urbanisation, expansion of the commercial sector, and increased demand for heating systems from offices and medical institutions.
The key trends aiding the market expansion include innovations in boiler size and usage, integration of water softener systems and IIoT technology, and growing installation of low emission boilers and equipment to meet emission and sustainability requirements.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the key regions analysed in the market report.
Commercial boilers incorporate condensing and non-condensing technology.
Commercial boilers operate on various fuel types such as natural gas, oil, and coal, among others.
The key players in the market include Robert Bosch GmbH, Ariston Holding N.V., SPX Corporation (WM Technologies LLC), Superior Boiler, Cleaver-Brooks Company, Inc., Parker Boiler Co., Patterson-Kelley, LLC, Fulton Boiler Works, Inc., Vaillant Group, and Energy Kinetics, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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