Commercial Boilers Market size to grow by USD 3,587.85 million from 2022 to 2027; Increasing demand for commercial boilers from the hospitality sector to boost the market- Technavio

NEW YORK, Aug. 8, 2023 /PRNewswire/ -- The Commercial Boilers Market size is estimated to grow at a CAGR of 4.12% between 2022 and 2027 and the size of the market is forecast to increase by USD 3,587.85 million, according to Technavio - Request a sample report.

Commercial Boilers Market Insights -

• Companies: 15+, Including A. O. Smith Corp., Burnham LLC, Carrier Global Corp., Clayton Industries, Cochran Ltd., Heating Ontario, Hurst Boiler and Welding Co. Inc., Maxima Boilers Pvt. Ltd., Parker Boiler Co., R.F. MacDonald Co., Robert Bosch GmbH, SPX Corp., Superior Boiler, The Cleaver Brooks Co. Inc., The Fulton Companies, Thermodyne Engineering Systems, U.S. Boiler Co., Vaillant GmbH, Watts Water Technologies Inc., and Slant Fin Corp., among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and company landscape; company product insights and recent developments; key companies; and market positioning of companies
• Segments: fuel type (natural gas, oil, and coal), technology (non-condensing and condensing), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

To understand more about the commercial boilers market, request a sample report

Commercial boilers market - Company Insights

The growing competition in the market is compelling companies to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market companies including - A. O. Smith Corp., Burnham LLC, Carrier Global Corp., Clayton Industries, Cochran Ltd., Heating Ontario, Hurst Boiler and Welding Co. Inc., Maxima Boilers Pvt. Ltd., Parker Boiler Co., R.F. MacDonald Co., Robert Bosch GmbH, SPX Corp., Superior Boiler, The Cleaver Brooks Co. Inc., The Fulton Companies, Thermodyne Engineering Systems, U.S. Boiler Co., Vaillant GmbH, Watts Water Technologies Inc., and Slant Fin Corp.

Commercial Boilers Market – Market Dynamics

Key Drivers

Increasing demand for commercial boilers from the hospitality sector is a key factor driving market growth. Boilers used in commercial facilities demonstrate higher energy efficiency compared to residential ones due to their frequent use of hot water. This high utilization in places like hospitals, hotels, and airports results in multiplied energy savings for each watt saved in water heating.

Consequently, the hospitality sector is witnessing increased demand for boiler deployment, driven by substantial energy savings and growing investments in new hotels. The surge in global air passenger traffic and the rise in the number of airports further contribute to the demand for commercial boilers, especially in luxury hotels. Additionally, luxury hotels, shopping centers, and airports' high demand for hot water significantly add to the market growth. As a result, the Increasing demand for commercial boilers is expected to witness significant growth during the forecast period.

Major Trends

The increasing use of smart devices is a major trend in the market. Advancements in portable devices and monitoring systems have revolutionized the management of heating water for end-users. Integrated monitoring systems within boilers can detect and eliminate contaminants, allergens, harmful particles, and viruses, resulting in reduced wear and tear on the boiler and fewer requirements for regular maintenance and repairs.

Furthermore, the incorporation of advanced firmware, algorithms, and learning capabilities further enhances boiler energy efficiency while keeping maintenance costs at a minimum. Additionally, certain companies are developing smart thermostats equipped with Wi-Fi-enabled water heaters, enabling automatic adjustments of water temperature based on data from the thermostat. Users can also remotely control water temperature through a mobile app, as IoT integration expands the functionality of water heaters. Hence, these factors are expected to drive market growth during the forecast period.

Significant Challenges

The growth of the boiler rental sector is a significant challenge restricting market growth. The demand for steam and hot water in industries tends to fluctuate, leading to the purchase of additional boilers to meet peak load demands and ensure backup security for unexpected failures or maintenance. As a solution, industrial operations are increasingly relying on boiler rental services to address peak demand efficiently.

Consequently, the boiler rental sector is expected to grow. However, the global commercial boiler market experiences sluggishness since each sector installs its boilers for baseload demand and resorts to renting when demand exceeds it. This approach might impede the overall market growth. Since demand from different sectors does not peak simultaneously, landlords can optimize their response to market needs by purchasing fewer commercial boilers. Hence, these factors are expected to restrict market growth during the forecast period.

Drivers, Trends & Challenges have an impact on market dynamics and can impact businesses. Find some insights from a sample report!

The commercial boilers market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as prospects.

Why Buy?

• Add credibility to the strategy
• Analyzes competitor's offerings 
• Get a holistic view of the market
• Grow your profit margin with Technavio- Buy the Report

What are the key data covered in this Commercial Boilers Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the commercial boilers market between 2023 and 2027
• Precise estimation of the size of the commercial boilers market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the commercial boilers market across APAC, North America, Europe, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of commercial boilers market companies

Gain instant access to 17,000+ market research reports. 

Technavio's SUBSCRIPTION platform

Related Reports

The linear actuators market is estimated to grow at a CAGR of 6.08% between 2022 and 2027. The market size is forecast to increase by USD 12,326.86 million. Furthermore, this report extensively covers market segmentation by product (electric, hydraulic, and pneumatic), end-user (automotive industry, water, and wastewater industry, marine industry, aerospace, and defense industry, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). The increased demand for electric linear actuators from automotive industry costs and the advent of high-speed linear actuators is a key factor driving market growth during the forecast period.

The heat exchanger market is estimated to grow at a CAGR of 5.1% between 2022 and 2027 and the size of the market is forecast to increase by USD 5,062.73 million. Furthermore, this report extensively covers market segmentation by end-user (chemical, fuel processing, HVAC, and others), product (shell and tube, plate and frame, cooling tower, air-cooled, and others), and geography (APAC, Europe, North America, South America, and the Middle East and Africa). The rising demand from the water and wastewater industry is a key factor driving market growth during the forecast period.

Table of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Fuel Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Technology
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global commercial boilers market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global commercial boilers market 2017 - 2021 ($ million)

• 4.2 Fuel Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Fuel Type Segment 2017 - 2021 ($ million)

• 4.3 Technology Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Technology Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Fuel Type

• 6.1 Market segments
• Exhibit 30: Chart on Fuel Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Fuel Type - Market share 2022-2027 (%)

• 6.2 Comparison by Fuel Type 
• Exhibit 32: Chart on Comparison by Fuel Type
• Exhibit 33: Data Table on Comparison by Fuel Type

• 6.3 Natural gas - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Natural gas - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Natural gas - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Natural gas - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Natural gas - Year-over-year growth 2022-2027 (%)

• 6.4 Oil - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Oil - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Oil - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Oil - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Oil - Year-over-year growth 2022-2027 (%)

• 6.5 Coal - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Coal - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Coal - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Coal - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Coal - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Fuel Type 
• Exhibit 46: Market opportunity by Fuel Type ($ million)
• Exhibit 47: Data Table on Market opportunity by Fuel Type ($ million)

7 Market Segmentation by Technology

• 7.1 Market segments
• Exhibit 48: Chart on Technology - Market share 2022-2027 (%)
• Exhibit 49: Data Table on Technology - Market share 2022-2027 (%)

• 7.2 Comparison by Technology 
• Exhibit 50: Chart on Comparison by Technology
• Exhibit 51: Data Table on Comparison by Technology

• 7.3 Non-condensing - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Non-condensing - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Non-condensing - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Non-condensing - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Non-condensing - Year-over-year growth 2022-2027 (%)

• 7.4 Condensing - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Condensing - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Condensing - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Condensing - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Condensing - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Technology 
• Exhibit 60: Market opportunity by Technology ($ million)
• Exhibit 61: Data Table on Market opportunity by Technology ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 67: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027 
• Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 75: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027 
• Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 91: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 South Korea - Market size and forecast 2022-2027 
• Exhibit 103: Chart on South Korea - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on South Korea - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on South Korea - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on South Korea - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ million)
• Exhibit 108: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 A. O. Smith Corp.
• Exhibit 115: A. O. Smith Corp. - Overview
• Exhibit 116: A. O. Smith Corp. - Business segments
• Exhibit 117: A. O. Smith Corp. - Key offerings
• Exhibit 118: A. O. Smith Corp. - Segment focus

• 12.4 Burnham LLC
• Exhibit 119: Burnham LLC - Overview
• Exhibit 120: Burnham LLC - Product / Service
• Exhibit 121: Burnham LLC - Key offerings

• 12.5 Cochran Ltd.
• Exhibit 122: Cochran Ltd. - Overview
• Exhibit 123: Cochran Ltd. - Product / Service
• Exhibit 124: Cochran Ltd. - Key offerings

• 12.6 Hurst Boiler and Welding Co. Inc. 
• Exhibit 125: Hurst Boiler and Welding Co. Inc. - Overview
• Exhibit 126: Hurst Boiler and Welding Co. Inc. - Product / Service
• Exhibit 127: Hurst Boiler and Welding Co. Inc. - Key offerings

• 12.7 Parker Boiler Co.
• Exhibit 128: Parker Boiler Co. - Overview
• Exhibit 129: Parker Boiler Co. - Key offerings

• 12.8 R.F. MacDonald Co.
• Exhibit 130: R.F. MacDonald Co. - Overview
• Exhibit 131: R.F. MacDonald Co. - Product / Service
• Exhibit 132: R.F. MacDonald Co. - Key offerings

• 12.9 Robert Bosch GmbH
• Exhibit 133: Robert Bosch GmbH - Overview
• Exhibit 134: Robert Bosch GmbH - Business segments
• Exhibit 135: Robert Bosch GmbH - Key news
• Exhibit 136: Robert Bosch GmbH - Key offerings
• Exhibit 137: Robert Bosch GmbH - Segment focus

• 12.10 Slant Fin Corp.
• Exhibit 138: Slant Fin Corp. - Overview
• Exhibit 139: Slant Fin Corp. - Product / Service
• Exhibit 140: Slant Fin Corp. - Key offerings

• 12.11 SPX Corp.
• Exhibit 141: SPX Corp. - Overview
• Exhibit 142: SPX Corp. - Business segments
• Exhibit 143: SPX Corp. - Key offerings
• Exhibit 144: SPX Corp. - Segment focus

• 12.12 Superior Boiler
• Exhibit 145: Superior Boiler - Overview
• Exhibit 146: Superior Boiler - Product / Service
• Exhibit 147: Superior Boiler - Key offerings

• 12.13 The Cleaver Brooks Co. Inc. 
• Exhibit 148: The Cleaver Brooks Co. Inc. - Overview
• Exhibit 149: The Cleaver Brooks Co. Inc. - Product / Service
• Exhibit 150: The Cleaver Brooks Co. Inc. - Key offerings

• 12.14 The Fulton Companies
• Exhibit 151: The Fulton Companies - Overview
• Exhibit 152: The Fulton Companies - Product / Service
• Exhibit 153: The Fulton Companies - Key offerings

• 12.15 Thermodyne Engineering Systems 
• Exhibit 154: Thermodyne Engineering Systems - Overview
• Exhibit 155: Thermodyne Engineering Systems - Product / Service
• Exhibit 156: Thermodyne Engineering Systems - Key offerings

• 12.16 Vaillant GmbH
• Exhibit 157: Vaillant GmbH - Overview
• Exhibit 158: Vaillant GmbH - Product / Service
• Exhibit 159: Vaillant GmbH - Key offerings

• 12.17 Watts Water Technologies Inc. 
• Exhibit 160: Watts Water Technologies Inc. - Overview
• Exhibit 161: Watts Water Technologies Inc. - Product / Service
• Exhibit 162: Watts Water Technologies Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 163: Inclusions checklist
• Exhibit 164: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 165: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 166: Research methodology
• Exhibit 167: Validation techniques employed for market sizing
• Exhibit 168: Information sources

• 13.5 List of abbreviations 
• Exhibit 169: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED