Package Boilers – Global Market Outlook (2019-2023)

Package Boilers market

Package Boilers – Global Market Outlook (2019-2023)

Package Boilers

According to Research for Markets, the Global Package Boilers Market is expected to grow from $8.41 billion in 2016 to reach $12.35 billion by 2023 with a CAGR of 5.6%. Growing demand from the food & beverage industry is projected to positively influence the global package boilers market over the forecast period. Growing preference for clean and renewable energy sources is expected to assist the global market growth. Furthermore, growing non-renewable power plants, development of ultra-mega power projects in emerging countries and government initiatives towards reducing dependency on fossil fuels are the factors touted to bolster the global package boilers market growth over the forecast period. Strict emission standards are expected to hamper the overall market growth.

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Food & Beverage segment leads the market globally with the biggest market share and is expected to grow with a high CAGR among the other verticals. The growth of this segment is attributed to the increase in automation and upgrading processes in F&B industry, rising expenditure in the F&B processing industry, rising demand for processed foods and growing disposable income in developing countries. Based on type, the fire-tube package boilers segment is anticipated to lead the package boilers market from 2017 to 2023 because of its wide usage in many process industries and marine applications.

Package Boilers
Package Boilers

North America and Europe have dominated the global package boilers market and accounted for the major market share. Regulations imposed by the major environmental regulatory bodies such as the US Environmental Protection Agency encourages various end use industries, which is fuelling the demand for package boilers in these regions. Asia Pacific is expected to witness a brisk market growth over the forecast period. Growing demand for package boilers from various end-use industries, rapid industrialization, continued economic growth and infrastructural developments in APAC are the factors expected to have positive impact on the overall regional market. Countries such as India, China, Brazil, Mexico, South Korea and Japan are estimated to witness rapid growth over the forecast period.

Some of the prominent package boilers industry participants include Mitsubishi Hitachi Power Systems, Ltd., Aerco International Inc., Calderas Powermaster, Williams & Davis Boilers, Microtech Boilers Private Limited, IHI Corporation, Johnston Boiler Company, Fulton, Amec Foster Wheeler PLC, English Boiler and Tube, Inc., Kawasaki Thermal Engineering Co., Ltd., Forbes Marshall Private Limited, Hurst Boiler & Welding Company, Inc., Vapor Power International, LLC, Babcock & Wilcox Enterprises, Inc., Cleaver-Brooks, Inc., Parker Boiler Company, Superior Boiler Works, Inc., Thermax Limited and York-Shipley Global.

Boiler Types Covered:
• Electric Boilers
• Fire-tube Package Boilers
• Water-tube Package Boilers
• Other Boiler Types

Designs Covered:
• A-type Package Boilers
• D-type Package Boilers
• O-type Package Boilers

Type of Fuel Covered:
• Biomass
• Gas
• Oil
• Other Fuels

Verticals Covered:
• Chemical
• Food & Beverage
• Oil & Gas
• Paper & Pulp
• Other Verticals

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

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