The Global Boiler Equipment Market is expected to register a CAGR of 5.1% over the forecast period (2022-2027). The increase in demand for heating equipment to keep spaces warm and heat water worldwide is predicted to raise demand for boilers, which is expected to fuel market expansion.

• The expansion of the food processing industry pushes the boiler market forward.
• Several government initiatives are also driving market expansion in their respective regions. For instance, Government tax benefits to small and medium-sized food processing companies to encourage them to establish and grow their operations.
• Rising investments in various industries, such as petrochemical, in developing countries drive up demand for boilers.
• The market is predicted to expand further due to increased demand for energy-efficient systems.

Source: https://www.mordorintelligence.com/industry-reports/global-boiler-market

Energy-efficient solutions are expected to experience higher demand. Energy-efficient boilers are required to lower future operating expenses, capital investment, and utility system expenses. Business boiler performance is an important factor in commercial facilities' efforts to reduce utility expenditures. The efficiency of a boiler is determined by the proportion of heat output to the amount of fuel used for maintenance and engineering operations in various industries, businesses aiming to deliver efficient boiler performance. Traditional heating systems have an efficiency of 56% to 70%, according to the U.S. Department of Energy, which is a significant loss in energy savings. Modern boilers and water heaters, on the other hand, have an efficiency of over 80%, which results in significant energy savings when utilized by a large number of people.

https://www.coherentmarketinsights.com/market-insight/commercial-boiler-market-5942

However, where possible, the use of electric boilers can boost the efficiency to near 100% and far out-do the other energy sources.