The latest study conducted by Global Market Insights Inc. claims that the global commercial boiler market size  could exceed USD 24.5 billion by 2032. Rising space heating demand from the commercial sector, government initiatives to cut down carbon emissions, and introduction of strict green building regulations as some of the key drivers shaping industry growth.

Some of the fields available in report -

Highlighting some of the major trends streamlining commercial boiler industry growth through 2032

New opportunities from post-pandemic healthcare boom

Commercial boilers are considered the work horses of any hospital or healthcare establishment, they are responsible for producing the steam that heats the building, heating the water, which is used to operate the kitchen, wash all hospital laundry, and perform other crucial hospital tasks. Since the end of the pandemic, several world government agencies have been allocating sizable budgets for the consolidation of the healthcare infrastructure, leading to the construction of new hospitals, clinics, and other healthcare facilities. This growth is directly elevating the demand for commercial boilers in the space. Recently, the US government earmarked over $1.3 billion to make provisions to support the nation’s hospital surge capacity as part of the build back better plan.

Request for a free sample of this research report @ https://www.gminsights.com/request-sample/detail/2809 

Vast scope for growth from tightening green building regulations

Green building regulations are presenting novel growth impetus to the market as economies focus on their decarbonization efforts. Studies have shown that buildings consume over 40% of the world’s total energy and are responsible for about 33% of its carbon emissions.

Numerous sustainability agreements and climate summits have emphasized the needs to make buildings carbon neutral by 2050 to avert a climate disaster. Commercial boilers, which are considered more efficient than their counterparts can prove monumental in achieving this goal.

In response, numerous global economies are making progressive alterations to their energy consumption and green construction policies to favor the adoption of efficient heating and cooling systems. Recently, as part of the Industrial Decarbonisation Strategy, the UK government has outlined the upgradation of the country’s energy systems to cleaner platforms. The nation has pledged to make hospitals, schools, commercial, and residential properties more warm, green, and energy efficient.

EU’s ongoing shift to condensing boilers

Condensing boilers are regarded highly efficient technologies that are capable of heating buildings and provide access to domestic hot water as a biproduct. These boilers ‘condense’ water vapour generated during combustion into liquid form. They then use the heat from the water vapour to warm up cold water coming into the boiler. This effectively ensures that a majority of the expended energy during combustion is recaptured and redirected towards heating purposes.

Condensing boilers are compatible to be paired with rooftop solar thermal systems to further reducr fuel consumption by as much as 10-20%. Additionally, condensing boilers, when fired with green gases, including hydrogen, biomethane, and bio-LPG, can enable further carbon emissions reductions, helping the region move closer to its 2050 building sector decarbonisation goal.

In 2020, almost 5 million condensing boilers were sold across the EU, driven by growing awareness around their efficiency. With the region battling a daunting energy crisis, a higher consumer inclination is likely to shift towards commercial boilers in coming years.

Overall, the revenue prospects presented by the trends outlined above are expected to bring steady growth to the commercial boiler market through the forthcoming years. The growth is also expected to garner support from tightening government mandates around the issue of carbon emissions.

Browse our report store – GMIPulse - https://www.gminsights.com/gmipulse 

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

Contact Us:

Aashit Tiwari

Corporate Sales, USA

Global Market Insights Inc.

Toll Free: +1-888-689-0688

USA: +1-302-846-7766

Europe: +44-742-759-8484

APAC: +65-3129-7718

Email: sales@gminsights.com