Global Commercial Boilers Market
Global Commercial Boilers Market size was valued at US$ XX Bn. in 2019 and the total revenue is expected to grow at 3.8 % through 2020 to 2026, reaching nearly US$ XX Bn.
Global Commercial Boilers Market Overview:
An increase in environmental changes has resulted in a rise in demand for temperature modulating systems. Commercial Boiler is a system that uses fuel or electricity to produce steam and hot water. The produced heat is then circulated to the facility via pipes and ducts for ready availability of moderate to high temperature and hot water. The growing preference for cost-efficient heating systems in commercial establishments has propelled the demand for Commercial Boilers all over the world.
Commercial Boilers are large in size and provide energy and cost-efficient solutions for the requirement of heat and hot water in commercial places. Increased demand for pleasant indoor conditions in countries that have harsh winter conditions has propelled the demand for Commercial Boilers. Increased demand for indoor assembly of heat generators by commercial establishments has resulted in a boom in the Global Commercial Boilers Market.
Global Commercial Boilers Market Dynamics:
The presence of harsh environmental conditions during the winter season has resulted in increased demand for heating apparatus to provide a comfortable indoor environment. An increase in the global service sector has resulted in a rise in demand for offices with adjustable temperature facilities. To provide a suitable platform to their employees to increase productivity, firms prefer the cost-efficient medium of Commercial Boilers.
Commercial Boilers require limited fuel as compared to industrial boilers. This has resulted in increased preference for Commercial Boilers as a fuel-efficient option for providing heat to indoor facilities. The low-maintenance cost and limited need for humans to operate it has increased the demand for Commercial Boilers in urban areas. An increase in demand for fuel and cost-efficient heating products for commercial facilities has propelled the demand for Commercial Boilers.
Rising environmental concerns due to the overuse of fossil fuels have resulted in increased demand for fuel-efficient products. An increase in the number of firms pledging for energy conservation and the use of fuel-efficient products has resulted in increased demand for Commercial Boilers.
A rise in the per capita income of people around the world has resulted in a growth in the global tourism sector. The rising preference for comfortable lodging facilities even in remote locations has resulted in increased demand for Commercial Boilers by the Hospitality sector. Growth in the number of people traveling at least once a year has propelled the demand for Commercial Boilers.
An increase in the amenities provided to commercial establishments like gas supply and low-cost electricity acts as the major driving factor for the growth of the Global Commercial Boilers Market.
The high production cost required to manufacture Commercial Boilers acts as the major restraining factor here.
Global Commercial Boilers Market Segment Analysis:
The Global Commercial Boilers Market is segmented on the basis of
By Type, It is observed that more than 60% of the Commercial Boilers present in the market use Non-renewable sources like Natural Gas, Coal, and Fuel to work. An increase in demand for safe to operate Commercial Boilers has resulted in a 1.3% increase in demand for Commercial Boilers that work on electricity. The rising concerns over depleting natural resources have resulted in a 1.8% increase in the demand for Commercial Boilers operating on solar energy.
By Technology, It is observed that more than 45% of Commercial Boilers available in the market are of condensing type. An increase in demand for light atmosphere in commercial establishments has resulted in a 1.7% increase in demand for Commercial Boilers that are Non-condensing in nature.
By Application, It is observed that more than 45% of the low-cost lodging facilities prefer Commercial Boilers. An increase in demand for temperature regulators has resulted in a 1.7% increase in the demand for Commercial Boilers by hotels and restaurants. The preference for suitable temperature required to maintain a healthy environment for research has resulted in a 2.4% increase in demand for Commercial Boilers by the Healthcare sector and educational institutes.
Global Commercial Boilers Market
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An increase in demand for a comforting indoor environment has resulted in a 3.7% increase in demand for Commercial Boilers by offices having the strength of more than 100 employees. The rising preference for lodging facilities with running hot water has resulted in a 3.1% increase in demand for Commercial Boilers by the Hospitality sector present in the US and Europe. Increased preference for warm indoor temperature has resulted in a 2.5% increase in demand for Commercial Boilers by different commercial establishments like hotels, gyms, and entertainment establishments.
The preference for comforting temperature in hospitals has resulted in a 2.1% increase in demand for Commercial Boilers by the Healthcare Sector.
The need for warm temperature for storing agro-products has resulted in a 2.3% increase in demand for Commercial Boilers by the industry related to storage and transport. Increased preference for warm temperature in retail establishments especially in cold countries has resulted in a 1.6% increase in demand for Commercial Boilers by the Retail Sector.
Global Commercial Boilers Market Regional Insights
Global Commercial Boilers MarketThe presence of the harsh winter season has resulted in a 3.7% increase in demand for Commercial Boilers by commercial establishments present in North America. It is observed that increased construction works and rising demand for cost-efficient heating systems have resulted in a 2.6% increase in the consumption of Commercial Boilers by offices and the healthcare sector present in this region.
The increasing demand for indoor heating systems by the commercial sector has resulted in a 2.8% increase in demand for Commercial Boilers in Europe. The presence of a large number of hotels and lodging facilities has resulted in a 2.1% increase in demand for Commercial Boilers by the Hospitality industry present in this region.
The Asia-Pacific is showing a growth rate of 1.8% which is concentrated more in the ASEAN region and countries like Japan and New Zealand. The South American market is showing a stagnant growth rate in the range of 1.5-2%, the reason for which is the preference for alternative heating products. The Middle East and Africa’s Market is showing a low growth rate, the reason for which is the presence of hot and humid weather in most of the countries throughout the year.
The objective of the report is to present a comprehensive analysis of the global Commercial Boilers market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Commercial Boilers market dynamics, structure by analyzing the market segments and Project the global Commercial Boilers market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Commercial Boilers market make the report investor’s guide.
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Global Commercial Boilers Market
Global Commercial Boilers Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Global Commercial Boilers Market Key Players
• PT United
• Kansai Electric Power
• Sumitomo Corporation
• Thermax Limited
• Robert Bosch GmbH
• BDR Thermea
• ELCO Heating Solutions
• S & S Northern
• Mercian Utilities Ltd.
• Parker Boiler Co.
• MOBIHEAT GmbH
• RIMA Heating Systems
• Saudi Boiler
• AIGE Commercia & Trading Co., Ltd.
• Dalian Feida Heavy Duty Lathe Manufacture Co., Ltd
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