May 02, 2022 06:00 ET | Source: Market Study Report Market Study Report

Pune, India, May 02, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global commercial boilers market size was worth USD 1664 million in 2021 and is anticipated to progress at a CAGR of 4.6% during 2022-2028 to amass USD 2280 million valuation by the year 2028.

This research, which contains findings from Porter's Five Forces model and PEST analysis, aids investors in locating successful investment opportunities, resulting in increased revenue generation. The market is then divided into four categories: product terrain, fuel type, end-user, and geographical landscape - with the document providing data on each segment's growth rate and industry share throughout the forecast period.

The report then delves deep into the competitive dashboard, offering information about the strategies used by participants to improve their competitiveness in the marketplace.

The industry growth is mainly driven by increasing safety standards for heating equipment, surging number of commercial and residential buildings, as well as installation of safety relief valves in new and existing boilers to relieve excessive pressure and increase performance & efficiency.

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For the unversed, a commercial boiler is a heating and hot water system for a non-domestic application. Typically, these appliances are pressurized systems that produce hot water or steam by burning fuel or using energy. Its components include a combustion chamber, burner, heat exchanger, controls, & exhaust stacks.

Furthermore, improving healthcare infrastructures, as well as increasing demand for space heating and energy efficient boilers in business buildings are expected to boost the industry scenario during the analysis timeframe.

However, high maintenance cost of the product is hampering the worldwide commercial boilers market outlook.

With the advent of COVID-19 outbreak, several industries were forced to close due to a scarcity of raw materials & supply chain problems. This, along with halted activities in educational institutions, hospitality sector, and a variety of other industries have resulted in a drop in demand for commercial boilers in the recent past.

Moreover, implementation of lockdowns by governments all around the world, requiring the shutdown of a variety of residential and commercial infrastructure projects has directly impacted the industry expansion.

Based on product terrain, the market is split into non-condensing boiler, and condensing boiler. In terms of fuel, the industry is divided into oil, coal, natural gas, and others. On the basis of end-user scope, the marketplace is branched into offices, hospital, hospitality, educational, and others.

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https://www.marketstudyreport.com/reports/global-commercial-boilers-market-2022-2028

The key players in global commercial boilers marketplace are The Vaillant Group, The Fulton Companies, Superior Boiler Works Inc., Slant/Fin Corporation, Robert Bosch GmbH, Parker Boiler Co., Cochran Ltd., Cleaver-Brooks Inc., and A. O. Smith Corporation. These companies are using new product releases, R&D spending, and increased manufacturing capacity to boost their presence in the business sphere. Along with that, these industry giants are also commencing strategies like collaborations & partnerships, and mergers & acquisitions to reinforce their position in the market.

Global Commercial Boilers Market, by Product (Revenue, USD, 2022-2028)

Global Commercial Boilers Market, by Fuel (Revenue, USD, 2022-2028)

Global Commercial Boilers Market, by End-User (Revenue, USD, 2022-2028)

Global Commercial Boilers Market, Geographical Fragmentation (Revenue, USD, 2022-2028)

Global Commercial Boilers Market, Company Profiles (Revenue, USD, 2022-2028)

Part 5. Global market for commercial boilers by product

Part 6. Global market for commercial boilers by fuel

Part 7. Global market for commercial boilers by end user

Part 8. Global market for commercial boilers by region

8.4 Rest of the World (RoW)

Commercial Boiler Market size, Industry Analysis Report, Regional Outlook, Covid-19 Impact Analysis, Application Potential, Competitive Market Share & Forecast, 2021 – 2028

The global commercial boiler market size is expected to witness sizable growth by 2028 driven by rising demand for energy-efficient heating solutions across commercial facilities. Commercial boilers refer to pressurized systems that generate and distribute heat in a building. Commercial boilers are inherently energy efficient as water not only conducts thermal energy rapidly but also retains the heat longer than air. Moreover, these boilers are less prone to developing leaks in their system as they use pipes rather than ductwork, which further improves energy savings. Consequently, surging prominence of commercial boilers has been favorable for industry expansion worldwide. The Latin America commercial boiler market is calculated to grow at a sturdy pace to gather a major market share by the end of 2028. Escalating demand for clean fuel heating systems, along with increasing investments into the domestic lodging sector, is likely to support market adoption across the region over the following years.

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