Commercial Boiler Market Growth Outlook with Industry Review & Forecasts 2023-2032

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Commercial Boiler Market is expected to be USD
24.5 Billion by 2032
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Industry Overview

• Commercial Boiler Market is set to witness growth
  between 2023 and 2032 primarily owing to the
  increasing state-backed spending in the
  healthcare sector across the globe. For instance,
  in 2021, , the growth in healthcare spending by
  the US state and local government increased by
  5.8. Besides, rising demand for space heating in
  commercial buildings will also augment the market
  demand over the next ten years.
• Overall, the commercial boiler market has been
  segmented in terms of capacity, fuel, technology,
  product, application, and region.
• In terms of capacity, the gt 2.5 - 10 MMBtu/hr
  segment is set to witness massive growth through
  2032, owing to its increasing applicability
  across offices, retail stores, schools, nursing
  homes, and other commercial establishments.
• In the context of fuel, the natural gas segment
  is estimated to grow at more than 6.5 CAGR
  during 2023-2032. The segmental growth can be
  accredited to the introduction of favorable
  government norms towards the adoption of
  low-emission fuels and ample availability of gas
  resources. For example, the U.S. EPA recently
  announced its plans to issue stringent greenhouse
  gas emissions rules for large vehicles and heavy
  trucks by 2023. As per reports, the aim is to
  implement more ambitious GHG standards for all
  heavy vehicles.

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• Furthermore, the upgradation of existing
  facilities due to the ongoing replacement of
  traditional boiler systems will also foster the
  business scenario during the next decade.
• Based on the product, the steam segment is
  expected to grow noticeably through 2032.
  Increasing demand for steam to be used in
  commercial buildings, especially in Europe and
  North America, coupled with the introduction of
  emission norms by various governments will drive
  the segmental expansion.
• On the basis of application, the market is likely
  to be characterized by the healthcare facilities
  segment. The rapid segmental expansion will be
  attributed to the increasing number of healthcare
  facilities, hospitals, and diagnostic centers
  worldwide. For instance, as per data from
  December 2022, the health coverage penetration in
  Latin America increased to 77 in 2019 from 65
  in 2000.
• In the regional context, the commercial boiler
  market is set to expand rapidly through 2032 in
  the European continent.

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Commercial Boiler Market

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