Gas-Fired Commercial Boiler Market to record a 3% CAGR over 2018-2024

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Gas fired commercial boiler market size is predicted to expand over 3% by 2024. Low carbon emissions, relatively lower operational cost and low maintenance requirement will accelerate the product adoption.

Elaborating further on the regional trends, the contribution of the United States toward overall commercial boiler market demand has been rather huge. The nation’s proactiveness and awareness toward realizing an energy-efficient infrastructure in tandem with massive investments toward replacing conventional heating units have been cited as some of the pivotal regional growth drivers.

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The EPA’s National Emission Standards for Hazardous Air Pollutants (NESHAP) regulating the emissions from commercial and industrial centers in one such profound initiative undertaken by the US government. As per reliable estimates, US commercial boiler market size is slated to surpass an annual installation of 80,000 units by 2024.

Standing as one of the top-notch energy transition verticals, commercial boiler market is poised to amass substantial gains, with a global installation target of 300,000 units by 2024. Boiler efficiency has been touted as one of the foremost factors determining the overall efficiency of a central heating system. According to the U.S. DOE, commercial infrastructure consumes more than 7 trillion joules of site energy annually. The boiler efficiency also has a major impact on the carbon emissions and cost reduction, owing to which the demand for commercial boilers has observed a sharp uptick globally.

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In context of energy efficiency, the ongoing renovation activities of inefficient building infrastructure is providing a substantial impetus to the commercial boiler industry trends. The fraternity has been witnessing a slew of product developments and technological proliferations to develop advanced, efficient, and sustainable equipment. In this regard, condensing boilers have registered a massive demand across the commercial sector, primarily driven by their emission reduction capabilities.

While the application landscape of global commercial boiler market is extensive, healthcare sector stands as one of the major contenders with reference to the growing demand for these equipment. Hospitals reportedly have some of the highest energy use ratings for mechanical and heat operations, which vividly indicates the demand portfolio of boilers in this sector. As per reliable sources, healthcare sector accounts for using nearly 5% of the energy in commercial sector.

Furthermore, hospitals spend billions of dollars annually as energy costs, which can be drastically improved with the upgradation of boilers. The rising government investments toward improving healthcare infrastructure, which involves the replacement of traditional boilers, will largely boost the deployment of these products, making the healthcare sector as one of the most lucrative application spheres for commercial boiler market.

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Name: Arun Hegde
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Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/pressrelease/commercial-boiler-market

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CONTACT ISSUER
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
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