U.S. Boiler Market Size was valued at over USD 2.7 billion in 2020 and is set to grow at a CAGR of over 4.5% through 2028. The boilers are closed metallic vessels used to provide steam and hot water for numerous applications. These systems transfer heat to water, which is then circulated through various devices including radiators for heating purposes. Upgrading of the existing institutional infrastructure coupled with shifting consumer trends toward modular boiler systems will augment the business scenario.
The U.S. boiler industry will witness a steady growth on account of the rising industrialization and increasing investments toward the expansion of manufacturing facilities. Introduction of emission reduction norms to limit the greenhouse gas (GHG) emissions along with ongoing replacement of traditional steam generating units with energy-efficient boilers will energize the business scenario. Introduction of state government regulations for the development and expansion of commercial & industrial centers will boost the industry dynamics.
|Market Size in 2020:||2.8 Billion (USD)|
|Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||4.6%|
|2028 Value Projection:||4.2 Billion (USD)|
|Historical Data for:||2018 to 2020|
|No. of Pages:||1,290|
|Tables, Charts & Figures:||3,153|
|Segments covered:||Fuel, Capacity, Technology, Product, Application|
|Pitfalls & Challenges:|
Abundant availability of natural gas resources will drive the gas-fired boiler market size in U.S.
U.S. boiler market from natural gas fired boiler is estimated to reach over USD 2.6 billion by 2028. Competitive natural gas prices coupled with the increasing inclination toward the adoption of sustainable technologies will significantly augment the business landscape. Stringent government norms pertaining to the adoption of low-emission fuels along with ample availability of gas reserves will complement the industry outlook. The ease-of-extraction and robust gas supply networks in the country are set to boost the product adoption.
The ongoing COVID- 19 pandemic in the country has adversely impacted the economy. The large-scale lockdowns have resulted in the closure of various business activities and infrastructural development projects. Lockdown had severely impacted the retail stores, restaurants & bars, public assemblies, and the manufacturing sector. However, the industry is set to regain its strength in 2021 on account robust economic growth and growing consumer demand for goods & services.
Robust development of the commercial sector will propel the demand for 2.5-10 MMBtu/hr. capacity boilers
U.S. boiler market from 2.5-10 MMBtu/hr. is set to grow at a CAGR of over 3.5% between 2021 and 2028. Ongoing development of commercial establishments including retail stores, offices, nursing homes, and educational intuitions will fuel the industry landscape. Shifting trends toward the consumption of processed food & beverages in line with increasing government spending across healthcare industry will comprehensively enhance product penetration.
Increasing applicability across warehouses, offices, lodgings, and data centers will positively sway the 10-50 MMBtu/hr. boiler industry statistics. Government focus on facilitating basic healthcare services, primarily across the rural areas, will fuel the industry forecast. For instance, Rural Local Initiatives Support Corp. provides financing to build childcare, critical healthcare, and education services in rural areas with low income.
Stringent government regulations to limit carbon emissions will stimulate the condensing boiler market outlook
The U.S. boiler market from condensing technology is estimated to exceed USD 1.8 billion by 2028. Surging government focus on the reduction of carbon footprints and favorable policies for energy conservation will positively impact the business outlook. For instance, the Environmental Protection Agency (EPA) has introduced National Emission Standards for Hazardous Air Pollutants (NESHAP) with an aim to monitor emissions from boilers. The product offers key benefits including energy efficiency, high efficiency, and low heating costs, accelerating the industry potential.
The hot water boiler industry will gain appreciable momentum on account of wide scale deployment across commercial and industrial establishments. Ongoing replacement of the existing systems with new units to meet the energy-efficiency guidelines and standards will boost the business landscape. Increasing demand for space heating along with the introduction of several building codes, mandating the deployment of star-rated products will favor the business scenario.
Commercial applications are set to grow owing to increasing investments to develop the healthcare sector
The U.S. boiler market from commercial application is projected to register a CAGR of over 4% between 2021 and 2028. The positive outlook toward the expansion of healthcare sector in line with the rising demand for the diagnosis centers will boost product penetration. Wide-scale utilization for applications including steam generation for space heating and equipment sterilization will propel the business outlook. Government norms for shifting toward zero emission buildings has resulted in replacement of existing heating units, stimulating the industry expansion.
Ongoing investments toward expansion along with retrofitting & modernization of the existing refineries will propel the product deployment. Increasing focus on reducing the after-effects of carbon emissions has significantly surge the demand for energy-efficient boilers.
South Atlantic is anticipated to witness growth owing to the flourishing industrial sector
East North Central and South Atlantic together held a share of over 35% in 2020. Ongoing economic development along with surging investments toward upgrading of industrial facilities with stimulate the market growth. Increasing per capita income coupled with increasing demand for food processing units will energize product penetration. Robust growth across chemical, refining, and petrochemical sectors will positively sway the industry landscape.
The West South-Central region in 2020 accounted for over 14% of the U.S. boiler market. The growing space heating demand, low winter temperatures, and upgrading of the existing commercial facilities will stimulate the regional industry statistics. The Environmental Protection Agency (EPA) and Department of Energy (DOE) jointly introduced ENERGY STAR program, which aims to promote energy-efficient products and practices across the commercial end consumers, in turn will amplifying the product deployment.
Partnerships and product innovations will act as crucial points for market participants
Eminent companies are focusing on technological advancements along with partnerships and acquisitions to meet the predominant competition in the industry. Industry manufacturers are laying importance on economies of scale and forward integration to nourish the quality standards. Major participants operating in U.S. boiler market include Miura America, Fulton Boiler Works, Columbia Boiler Company, Clayton Industries, Hurst Boiler and Welding Co., P. M. Lattner Manufacturing, Cleaver-Brooks, Superior Boiler Works, Vapor Power International, Victory Energy Operations, Powermaster, Williams & Davis Boilers, York-Shipley, Unilux Advanced Manufacturing, Easco Boiler Corp., Johnston Boiler Company, Rite Engineering & Manufacturing Corp., Precision Boilers, Babcock and Wilcox Enterprises, WM Technologies, A. O. Smith, Bradford White Corporation, USA, PB HEAT, and Burnham Holdings.
The U.S. boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units, MMBtu/hr. and USD from 2018 to 2028 for the following segments:
- Natural Gas
- 0.3 – 2.5 MMBtu/hr.
- 2.5 – 10 MMBtu/hr.
- 10 – 50 MMBtu/hr.
- 50 – 100 MMBtu/hr.
- 100 – 250 MMBtu/hr.
- > 250 MMBtu/hr.
- Hot Water
- Warehouse & Storage
- Public Assembly
- Food Processing
- Pulp & Paper
- Primary Metal
The above information has been provided for the following regions and states:
- East North Central
- West South Central
- South Atlantic
- North Carolina
- South Carolina
- West Virginia
- Washington D.C.
- North East
- New Hampshire
- Rhode Island
- New Jersey
- New York
- East South Central
- West North Central
- North Dakota
- South Dakota
- Pacific States
- Mountain States
- New Mexico