Key Companies Covered in the Package Boilers Market Research Report Are Cleaver-Brooks, Inc. (US), Thermax Limited (India), Hurst Boiler & Welding Co., Inc. (US) and other key market players.
The Package Boilers Market is projected to reach USD 11.06 billion by 2031”
The package boilers market is estimated to be USD 8.92 billion in 2022 and is projected to reach USD 11.06 billion by 2031, at a CAGR of 4.40% from 2022 to 2031.
The growing demand for clean energy sources, increasing number of non-renewable power plants, and rising government initiatives undertaken to reduce dependence on fossil fuels are key factors anticipated to influence the growth of the package boilers market. The formulation of stringent emission standards is acting as a key restraint to the growth of the package boilers market.
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“Among end-use industries, the food & beverage segment is projected to grow at the highest CAGR during the forecast period”
Based on end-use industry, the food & beverage segment is expected to grow at the highest CAGR from 2022 to 2031. The food & beverage industry has become highly advanced, sophisticated, and technical due to strict air quality compliance and rise in the production capacity of food & beverage units. The increasing use of package boilers for food processing and sanitation is driving the growth of the package boilers market in the food & beverage industry.
“The package boilers market in the Asia Pacific region is projected to grow at the highest CAGR from 2022 to 2031”
The package boilers market in the Asia Pacific is projected to grow at the highest CAGR during the forecast period. According to World Bank, the Asia Pacific region is the fastest-growing region worldwide, experiencing a continued economic growth. Rapid industrialization and infrastructural developments in the Asia Pacific region offer lucrative growth opportunities to manufacturers of package boilers. Moreover, existing players in this region are planning to carry out capacity expansions to cater to the increasing demand for package boilers from various end-use industries, such as chemical, food & beverage, and refining.
Breakdown of profiles of primary participants:
• By Company Type: Tier 1 – 21%, Tier 2 – 36%, and Tier 3 – 43%
• By Designation: C-Level – 24%, Director Level – 42%, and Others – 34%
• By Region: North America – 20%, Europe – 18%, Asia Pacific – 50%, South America – 7%, and Middle East & Africa – 5%
Major companies profiled in this report include Cleaver-Brooks, Inc. (US), Thermax Limited (India), Hurst Boiler & Welding Co., Inc. (US) Johnston Boiler Company (US), Calderas Powermaster (Mexico), IHI Corporation (Japan), Mitsubishi Hitachi Power Systems, Ltd. (Japan), Amec Foster Wheeler Plc. (UK), Babcock & Wilcox Enterprises, Inc. (US), Forbes Marshall Private Limited (India), Parker Boiler Company (US), Miura Boilers (US), Superior Boiler Works, Inc. (Malaysia), English Boiler & Tube, Inc. (US), Aalborg Engineering A/S (Denmark), John Thompson (UK), York-Shipley Global (US), Rentech Boiler Systems Inc. (US), Williams & Davis Boilers (US), Mackenzie Industries (Malaysia), Vapor Power International, LLC (US), and Kawasaki Thermal Engineering (Japan).
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This report offers an overview of key market dynamics, such as drivers, restraints, opportunities, and challenges with respect to the package boilers market. It also provides a detailed overview of the market across five regions, namely, Asia Pacific, Europe, North America, the Middle East & Africa, and South America. The report categorizes the package boilers market on the basis of type, design, fuel, end-use industry, and region. A detailed analysis of leading players, along with key growth strategies adopted by them, is also covered in the report.
Reasons to Buy the Report:
This report covers the following key aspects:
• What will be the size of the package boilers market by 2031 and what will be the growth rate of the package boilers market during the forecast period (2022 to 2031)?
• What are the key market trends?
• What are the factors expected to drive the growth of the package boilers market during the forecast period?
• What are the challenges that impact the growth of the package boilers market during the forecast period?
• Who are the key players in the package boilers market?