Commercial Boiler Market Size, Share, Growth Analysis, By Fuel Type(Natural Gas, Oil, Coal, and Others), By End user(Offices, Hospitals, Educational Institutions, Lodging), By Region - Industry Forecast 2024-2031

Commercial Boiler Market size was valued at USD 14.78 billion in 2021 and is poised to grow from USD 15.27 billion in 2022 to USD 19.8 billion by 2030, growing at a CAGR of 3.3% in the forecast period (2023-2030).

The commercial boiler market is expected to witness growth due to the implementation of building energy codes and increased investments in urban center expansion. Modern heating systems are highly efficient and can be integrated with home automation systems, leading to a higher demand for these products. Additionally, government initiatives aimed at reducing the carbon footprint of commercial establishments have led to increased spending on upgrading existing facilities, further driving the demand for energy-efficient boilers. Furthermore, the commercial sector's focus on developing cost-effective and environmentally friendly infrastructure is also projected to contribute to the global market growth for commercial boilers.

Common applications for commercial boilers include heating various types of buildings such as schools, offices, apartment complexes, and hospitals. These boilers can be powered by either gas or oil and are designed to produce hot water or steam. The heated water or steam then circulates through a system of radiators, baseboard units, and fan coils to distribute the heat throughout the building's interior spaces. The heating process may involve transforming hot water into steam or utilizing cold water, depending on the type of boiler. The heat in commercial boilers is generated by burners or electric coils, which transfer the heat to the water through a heat exchanger. This results in the production of either hot water or steam, which is then distributed through pipes to the various parts of the commercial building for heating purposes. Natural gas is the most commonly used fuel in commercial boilers, although some models also utilize fuel oil or electric resistance coils to generate heat from electricity.

US Commercial Boiler Market is poised to grow at a sustainable CAGR for the next forecast year.