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Global Commercial Boiler Market Size, Share, Trends, Growth: By Technology: Condensing, Non-Condensing; By Fuel Type: Natural Gas, Oil, Coal, Others; By Capacity: Less Than 10 MMBtu/Hr, 10-50 MMBtu/Hr, Others; By End Use: Hospitals, Offices, Educational Institutions, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Commercial Boiler Market Outlook
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.
Key Takeaways
- China and North America are among the leading markets for commercial boilers.
- Upgrading to an A-rated boiler from a D-rated boiler enables end users to save 23% of their annual gas bills.
- Energy efficiency is a key parameter impacting the commercial boiler demand, with condensing boilers exhibiting improved energy efficiency compared to traditional boilers.
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.
Key Trends and Developments
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). |
Commercial Boiler Market Trends
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.
Market Segmentation
“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.
Competitive Landscape
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.
Commercial Boiler Market Analysis by Region
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.
Key Highlights of the Report
| 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 |
|
| Breakup by Fuel Type |
|
| Breakup by Capacity |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Commercial Boiler Market Analysis
8.1 Key Industry Highlights
8.2 Global Commercial Boiler Historical Market (2018-2023)
8.3 Global Commercial Boiler Market Forecast (2024-2032)
8.4 Global Commercial Boiler Market by Technology
8.4.1 Condensing
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Non-Condensing
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Commercial Boiler Market by Fuel Type
8.5.1 Natural Gas
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Oil
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Coal
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Commercial Boiler Market by Capacity
8.6.1 Less Than 10 MMBtu/Hr
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 10-50 MMBtu/Hr
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Others
8.7 Global Commercial Boiler Market by End Use
8.7.1 Hospitals
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Offices
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Educational Institutions
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Others
8.8 Global Commercial Boiler Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Commercial Boiler Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Commercial Boiler Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Commercial Boiler Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Commercial Boiler Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Commercial Boiler Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Robert Bosch GmbH
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Ariston Holding N.V.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 SPX Corporation (WM Technologies LLC)
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Superior Boiler
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Cleaver-Brooks Company, Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Parker Boiler Co.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Patterson-Kelley, LLC
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Fulton Boiler Works, Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Vaillant Group
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Energy Kinetics
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Commercial Boiler Market: Key Industry Highlights, 2018 and 2032
2. Global Commercial Boiler Historical Market: Breakup by Technology (USD Billion), 2018-2023
3. Global Commercial Boiler Market Forecast: Breakup by Technology (USD Billion), 2024-2032
4. Global Commercial Boiler Historical Market: Breakup by Fuel Type (USD Billion), 2018-2023
5. Global Commercial Boiler Market Forecast: Breakup by Fuel Type (USD Billion), 2024-2032
6. Global Commercial Boiler Historical Market: Breakup by Capacity (USD Billion), 2018-2023
7. Global Commercial Boiler Market Forecast: Breakup by Capacity (USD Billion), 2024-2032
8. Global Commercial Boiler Historical Market: Breakup by End Use (USD Billion), 2018-2023
9. Global Commercial Boiler Market Forecast: Breakup by End Use (USD Billion), 2024-2032
10. Global Commercial Boiler Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Commercial Boiler Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Commercial Boiler Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Commercial Boiler Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Commercial Boiler Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Commercial Boiler Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Commercial Boiler Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Commercial Boiler Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Commercial Boiler Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Commercial Boiler Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Commercial Boiler Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Commercial Boiler Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Commercial Boiler Market Structure
Key Questions Answered in the Report
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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