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(May 17, 2017)
Ocean View, Delaware, May 17, 2017 (GLOBE NEWSWIRE) --
U.S. Commercial Boiler Market share is poised to surpass USD 1 billion by 2024, according to a new research report by Global Market Insights, Inc. Positive outlook towards healthcare sector along with growing investment toward upgradation of educational institutions will propel the U.S. commercial boiler market size.
Potential healthcare applications of these products include equipment sterilization, space and water heating in hospitals, rehabilitation and diagnostic centers. In 2015, hospital care expenditure exceeded USD 1 trillion and accounted for over 30% of annual healthcare expenditures.
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Ohio commercial boiler market size is predicted to exceed USD 50 million in 2024. Growing focus towards education and healthcare sector along with rising investments towards energy efficient buildings will stimulate the product demand. In 2015, construction sector in Ohio was valued over USD 22 billion witnessing growth of over 6%.
Growing demand for efficient space heating systems from cold climatic zones will drive the commercial boiler market. Alaska, North Dakota, South Dakota and Minnesota are some of the coldest states in the region with an average winter temperature below 12°F. In Minnesota, lodgings, food service and healthcare are some of the prominent sectors where these systems are installed.
Advancement of technology coupled with growing demand for energy efficient heating systems will boost the commercial boiler market share. Building automation systems, remote diagnostics and boiler to boiler communication are some of the advanced technologies which may further complement the business landscape.
Browse key industry insights spread across 450 pages with 1176 market data tables & 10 figures & charts from this 2017 report U.S. Commercial Boiler Market in detail along with the table of contents:
Introduction of federal and state regulations & standards towards carbon emission reduction will stimulate commercial boiler market growth. Replacement and retrofitting of existing heating furnace may further boost the product demand. Government has introduced National Emission Standards for Hazardous Air Pollutants with the aim to restrict emissions of various pollutants including mercury, carbon mono oxide and particulate matter.
Natural gas commercial boiler market share is set to experience robust growth owing to its abundant availability and easy storage. Gas fired units also offer distinct advantages which include absence of soot, low noise and reduced operating costs. Texas, California, New York, Louisiana and Illinois are some of the highest gas consuming states.
Lodging in 2016 accounted for over 11% of the U.S. commercial boiler market share. These products are primarily used for steam and hot water generation in dormitories, hotels, guest cottages, retirement and nursing homes. Increasing investment toward hospitality and tourism sector will stimulate the product demand.
Rising demand for high efficiency heating systems with strict government regulations towards environmental pollution will propel condensing commercial boiler market. Low fuel consumption, high efficiency and low running costs are some of the key parameters which makes its adoption preferable over other alternatives. Positive outlook towards healthcare sector along with growing investment toward upgradation of warehouse facilities will boost the demand for >10MMBtu/hr capacity boilers.
Delaware commercial boiler market is predicted to witness growth over 4% owing to rising investment towards healthcare and services sectors. In 2015, Medicare and Medicaid spending in Delaware exceeded USD 1.7 billion. Flourishing tourism sector will further fuel the business growth.
Notable industry participants include Superior Boiler Works, Weil-McLain, Columbia Boiler, Cleaver Brooks, Fulton, Bradford White Corporation, Burnham Commercial, Parker, A.O. Smith, Clayton, Babcock and Wilcox.
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Browse Related Reports:
- U.S. Industrial Boiler Market Size 2016 2024
U.S. Industrial Boiler Market size was USD 452 million in 2015 with 2% growth forecast from 2016 to 2024. Positive outlook towards chemical and food processing industries will favor the growth of the U.S. industrial boiler market in future.
- District Heating Market Size 2017 2024
District Heating Market size for 2016 was valued over USD 200 billion and is set to exceed 17 thousand PJ by 2024. Directives to monitor carbon emissions coupled with growing concerns toward recycling waste energies will stimulate the global district heating market size.
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.
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