Healthcare commercial boiler market size is set to grow on account of rising demand for space heating and hot water needed for cleansing of medical tools, sheets and floors. In addition, growing investments toward modernization and development across private and public healthcare facilities will boost the deployment of commercial boilers across the industry. As per the Centers for Medicare & Medicaid Services, the U.S. in 2017, invested over USD 3.5 trillion toward healthcare, with a projected investment of over USD 5.7 trillion by 2050.
The U.S. market is predicted to surpass an annual installation of 80,000 units by 2024. Resurgent economic growth coupled with rapidly increasing population will drive the industry growth in coming years. As per the World Bank, the U.S. has witnessed a GDP growth of 34.5% between 2009 and 2017, and a population surge of 6.1% within the same period.
commercial hot water boiler market size is predicted to expand over 3% by 2024. Low carbon emissions, relatively lower operational cost and low maintenance requirement will accelerate the product adoption. Growing investments toward development and extension of gas infrastructure will further drive the business growth. In 2016, as per the European Commission, the EU has invested over USD 200 million toward the development of Balticconnector, a natural-gas pipeline connecting Estonia and Finland.
Introduction of stringent government legislatives toward the reduction of carbon emissions will boost the condensing commercial hot water boilermarket. For instance, National Emission Standards for Hazardous Air Pollutants was implemented by the Environmental Protection Agency in order to restrict the greenhouse gas emissions from industrial and commercial establishments. Reliable operation, simple controls and compact design are the underlying features that will boost the product adoption.
Growing efforts toward minimizing the effects of global warming in conjunction with the introduction of stringent efficiency and emission standards will propel the market growth. Investors and respective governments are continuously striving toward the development of ecologically and economically sustainable commercial infrastructures. For instance, the European Commission in 2017, introduced Framework Level(s), a voluntary framework toward enhancement of building sustainability.