Global Package Boiler Market to Outgrow USD 11.37 BN By 2025
Posted On August 21, 2019
According to the Value Market Research, the Global Package Boiler Market was valued at USD 8.33 BN (by revenue) in 2018. It is anticipated to touch USD 11.37 BN by 2025 with a CAGR of 4.59% from 2019 to 2025. The market growth of package boiler is expected to gain enormous demand over the forecast period owing to the rising demand for a renewable source of energy. Rising demand for packaged boiler from the food and beverage industry coupled with the growing number of power plant around the globe is also expected to fuel the market growth. Additionally, the market is also expected to gain benefit from expanding chemical industry worldwide. The growing government initiatives for reducing reliance on fossil fuels along with the ongoing industrialization around the globe are further anticipated to propel the market growth.
The package boiler is a factory-based boiler which is assembled with various mountings, control instrumentation, and other associated accessories. Package boiler is used for heating purpose and it acts as a steam generator for various small power industrial plant. Package boiler can be set as a whole assembly in a factory site and can be easily installed. The important components of a package boiler are steam pipes, fuel, water pipes, and electrical connection. They are widely used across various industries, they are inexpensive with less maintenance cost and provide high thermal efficiency levels. They produce quick steam because of small water volume and large heating space. Moreover, package boiler is also used for power production and require less manpower.
The report "Global Package Boiler Market Report By Product (Fire-Tube, Water-Tube, And Electric), Applications (Food Industry, Chemical Industry, Oil, And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation, and Forecast, 2018-2025" uncover important facet of the market such as driver, restraints, challenges, trend, emerging opportunity, forecast, and competitive dashboard.
The market segmentation includes product, application, and region. Product segment encompasses fire-tube, water-tube, and electric. Out of which, fire-tube boiler held the leading position because of rising demand from the marine application. Application segment incorporates food industry, chemical industry, oil, and other. The food industry has emerged as the largest application area owing to the rising adoption of package boiler for generating steam in various food processes and hygienic purpose in the industry. Regional segmentation covers North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently, Asia-Pacific is dominating the overall market owing to the rising number of various industrial plants and improving infrastructure in the region.
The Report Segments Global Package Boiler Market -
Middle East & Africa
Players Profiled In The Report:
Amec Foster Wheeler Plc., Babcock & Wilcox Enterprises, Inc., Cleaver-Brooks, Inc., Forbes Marshall Private Limited, Hurst Boiler & Welding Co., Inc., In deck Power Equipment Co., Johnston Boiler Company, Mitsubishi Hitachi Power Systems, Ltd., Miura Boilers, Parker Boiler Company, Rentech Boilers, Superior Boiler Works, Inc., and Thermax Limited.
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