The value of the global package boiler market was assessed at USD 8,921.40 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.7% from 2023 to 2033, to reach USD 13,906.59 million. Global package boiler consumption was 130,771 units in 2022; by 2033, this number is predicted to increase to 217,762 units.
The food and beverage industry’s increasing demand for package boilers is expected to fuel the global package boiler market’s expansion. The study on the global package boiler market offers a comprehensive analysis of the industry. The study provides a thorough examination of the market’s major segments, trends, drivers, constraints, competitive environment, and other elements that are significantly influencing it.
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Package Boilers Market Segmentation
By Application
- Food & Beverage
- Oil & Gas
- Chemical
- Paper & Pulp
Regional Scope
- North America
- Europe
- APAC
- South America
- Middle East
- Africa
Key Players
Babcock & Wilcox Enterprises Inc., Thermax Global, Fulton Boiler Works Inc., Miura America Co. Ltd., Hurst Boiler & Welding Co. Inc., Cleaver-Brooks Inc., Johnston Boiler Co., Superior Boiler Works Inc., Clayton Industries Inc., Rentech Boiler Systems Inc., York-Shipley Global, Vapor Power International LLC, AC Boilers S.p.A., Forbes Marshall Pvt. Ltd., IHI Corporation, Hoval Ltd., Alfa Laval AB, Indeck Power Equipment Co., ZBG Boiler, Mitsubishi Heavy Industries Ltd., Aalborg Industries A/S, Cochran Ltd., Sussman Electric Boilers, Mi Energy S.p.A., Hamworthy Heating Ltd., Groupe Atlantic, GIANTECH Engineering Pte. Ltd., Viessmann Werke GmbH & Co. KG, Erensan Isı Tekniği San. ve Tic. A.Ş,
Market Dynamics
The food and beverage industry’s growing need for package boilers is a major driver of the Global Package Boilers Market. Demand for package boilers is increasing considerably in many locations across the world due to the benefits connected with their use, such as ease of installation and reduced maintenance costs when compared to huge industrial boilers. Furthermore, R&D operations are underway to improve the characteristics of global package boilers.
The Environmental Protection Agency will probably push various industries to monitor output levels, especially in the power generating division. As a result, the power division in these areas is probably going to implement stringent steps to protect energy and cut harmful emissions. This is anticipated to strengthen a number of ultra-mega power projects across various nations, which will drive demand and requirements for the package boiler market globally.
Market Trend
It is anticipated that the bottling boiler market will be dominated by the end-use food and beverage sector segment in the anticipated timeframe. The food and beverage sector has experienced significant advancements in sophistication, technicality, and strict adherence to air quality regulations as a result of increased production capacity of food and beverage units. The primary purpose of package boilers is to produce the steam required for a variety of tasks in the food business. Thus, one factor driving the growth of the bottling boiler market is the increasing use of these machines in the food and beverage sector.
Opportunity
Packaged boiler manufacturers may benefit from significant growth prospects in the Asia-Pacific region due to the area’s swift industrialization and infrastructural advancements. It is also anticipated that the requirement to increase biomass combustion efficiency via the use of novel materials would boost future growth prospects for the global package boiler market. Utilizing the most recent materials in biomass beds lowers the cost of biomass boilers and improves waste efficiency.
In many different industrial sectors, including as chemicals, primary metals, pulp and paper, food and beverage, refining, and other manufacturing industries, packaged boilers are mostly used for producing steam and hot water. The increasing use of energy-efficient space and heating solutions, along with ongoing regulatory initiatives to reduce greenhouse gas (GHG) emissions, is expected to drive significant growth in the block boiler market.
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