The global commercial boiler market is estimated to be valued at US$ 2.11 Bn or billion in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Commercial boilers are equipment used to heat water or generate streams for heating residential and commercial buildings. They function by burning fuel such as natural gas, oil, coal or wood to heat water or steam, which circulates through pipes supplying radiators, convectors or fins-and-tubes within buildings. Commercial boilers provide efficient heating solutions for various applications in large buildings such as hospitals, universities, hotels and office premises. Their advantages include lower maintenance costs over long run, energy efficiency and space heating.
Market key trends:
One of the key trends in the commercial boiler market is rising adoption of energy efficient condensing boilers. Condensing boilers recover latent heat from exhaust gases exiting the boiler, which otherwise would have been wasted. This significantly improves their efficiency to over 90%. Growing concerns regarding energy security and carbon emissions are propelling demand for such eco-friendly heating solutions across commercial establishments. Furthermore, advancement in combustion and flue gas treatment technologies have enhanced boiler efficiencies, reducing carbon footprints.
Porter’s Analysis
Threat of new entrants: The Commercial Boiler Market Growth requires high initial investment for R&D, production facilities, brands etc. which poses high entry barriers for new players.
Bargaining power of buyers: Large industrial and commercial buyers have significant bargaining power due to their bulk buying abilities which compel existing players to offer competitive prices.
Bargaining power of suppliers: Few large players dominate raw material supply which gives them power to influence prices. However, availability of substitutes balances their power.
Threat of new substitutes: Alternate heating solutions like heat pumps, combined heat and power systems pose threat to commercial boilers. However, limited geographic scope and requirement of existing infrastructure favor boilers.
Competitive rivalry: The market is highly fragmented with presence of numerous global and regional players. Intense competition keeps prices low and forces players to strengthen distribution and focus on differentiated products.
Key Takeaways
The global commercial boiler market is expected to witness high growth, exhibiting CAGR of 4.3% over the forecast period, due to increasing industrialization and infrastructure development in emerging economies.
The Asia Pacific region dominates the global commercial boiler market, with China being the largest market. This is attributed to growing manufacturing activities, power generation, and rapid urbanization in the region. North America is another major market for commercial boilers driven by rising demand from food & beverage, chemical, and industrial sectors.
Key players operating in the commercial boiler market are A.O. Smith Corporation, Bosch Thermotechnology, Cochran Limited, Cleaver-Brooks, Fulton Boiler Company, Parker Boiler, Slant/Fin Corporation, Superior Boiler Works, Inc., Vaillant Group, and Weil-McLain. These companies are focusing on new product launches, partnerships, and mergers & acquisitions to gain market share.
Read More: https://www.ukwebwire.com/commercial-boiler-market-analysis/
Commercial Boilers are pressurized systems that burn combustible fuel or use electricity to heat water that is used to provide heating in your building.Inside the boiler, the burners or electric coils generate heat that is transferred to the water by the heat exchanger.
The water or steam enters radiators or other components that disperse the heat providing the heating you need to keep your indoor spaces comfortable.The Commercial Boiler market was valued at 12000 Million US$ in 2017 and is projected to reach 15000 Million US$ by 2025, at a CAGR of 2.8% during the forecast period.
In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size for Commercial Boiler.This report presents the worldwide Commercial Boiler market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application.This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.Request a sample of this report @ http://www.orbisresearch.com/contacts/request-sample/2338529The following manufacturers are covered in this report:Babcock and Wilcox Enterprises, IncFulton Boiler Works, IncHurst Boiler and Welding Co, IncClayton IndustriesBosch ThermotechnologyCochran Ltd.Mitsubishi Hitachi Power Systems, Ltd.Parker Boiler CompanySlant/Fin CorporationWeil-McLainO.
Smith CorporationMiura America Co., Ltd.Groupe SimoneauOthersCommercial Boiler Breakdown Data by TypeNatural gasOilCoalCommercial Boiler Breakdown Data by ApplicationOfficesHealthcareInstitutionsLodgingsRetailBrowse the complete report @ http://www.orbisresearch.com/reports/index/global-commercial-boiler-market-insights-forecast-to-2025Commercial Boiler Production by RegionUnited StatesEuropeChinaJapanOther RegionsThe study objectives are:To analyze and research the global Commercial Boiler status and future forecast?involving, production, revenue, consumption, historical and forecast.To present the key Commercial Boiler manufacturers, production, revenue, market share, and recent development.To split the breakdown data by regions, type, manufacturers and applications.To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.To identify significant trends, drivers, influence factors in global and regions.To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.This report includes the estimation of market size for value (million USD) and volume (K Units).
Both top-down and bottom-up approaches have been used to estimate and validate the market size of Commercial Boiler market, to estimate the size of various other dependent submarkets in the overall market.
Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research.
