The Commercial Boiler Market was valued at US$ 12.4 billion in 2022 and is estimated to reach US$ 3.4 billion by 2028, with a CAGR of 4.6% from 2023 to 2028.

Usually for non-residential uses, a commercial boiler is used to boil water or heat needed materials. The most common ways to heat these are via electricity, natural gas, or oil. The majority of these boilers are found in companies, offices, colleges, hospitals, and recreation centers. The boilers' needed output and size are determined by their intended use. Commercial boilers range in capacity from 15kW to 1500kW, depending on the user's needs.

Market Drivers and Restraints:

Overall, the pandemic presented some difficulties for the market for Electrical Process Heaters (EPH) for Air Separation Units, but as industry responded to the new circumstances and focused on expansion, the market began to rebound.

Elevated industry investments from both governmental and private entities are balancing the market's growth rate. To meet the demand for energy-efficient commercial boilers, significant investments are being made in the commercial boilers market. These boilers save the industry's energy costs in addition to lowering carbon and other hazardous chemical emissions.

The commercial boilers market is expanding as a result of stringent government requirements regulating the use of renewable energy sources for business boiler heating, such as biomass fuel and solar energy. The need for commercial boilers will only increase in the future as governments everywhere adopt policies and allocate resources towards the production and consumption of sustainable energy.

The market value of commercial boilers has declined due to the advent of more affordable alternatives such as solar thermal systems and heat electric heat pumps. The commercial boilers market expansion is being hindered by these alternatives' enhanced efficiency and cost-effectiveness.

The installation and component purchases necessitate significant upfront costs. This limits the use of commercial boilers by small enterprises, which hinders the market's expansion for commercial boilers. The maintenance process for commercial boilers is intricate and time-consuming due to their complicated structure. The market shares are probably caused by this phenomenon.

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The report is segmented as follows:

The Commercial Boiler Market is segmented by Type; the Market is segmented by Connection Type:

By Fuel (Natural gas, coal, and oil)

By Technology (Condensing and non-condensing)

By Capacity (Less than 10 MMBtu/hr, 10-50 MMBtu/hr, and more than 50 MMBtu/hr)

Market Regional Segmentation:

With a market share of over 35%, the Asia Pacific region is the global leader in the commercial boilers industry. One of the main factors driving the expansion of the commercial boilers market is the region's booming industrial sector. Asia Pacific has the greatest rate of population migration from tier 2 and tier 3 cities to metro areas.

Thirty percent of the market share for commercial boilers is held by the European region. Heating of spaces is the primary usage of commercial boilers in Europe. With current technological developments, the market share of commercial boilers is expected to rise.

About 20% of the market share for commercial boilers is held by North America. The region's largest consumer is the United States. The primary use in the area is for industrial heating.

The regions with the lowest market shares are South America, the Middle East, and Africa.

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Impact of the COVID-19 pandemic on the market:

The market for commercial boilers was negatively impacted by the COVID-19 pandemic since industries are where boilers are primarily used, and during the epidemic, all of the big industries had to close. Commercial buildings and educational institutions—both of which have since closed—also use commercial boilers. The demand and supply of the raw materials needed to make commercial boilers and deliver those boilers to customers were severely out of balance. The worldwide supply chain has been utterly disrupted by the COVID-19 epidemic.

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