Global Package Boilers Market To Register CAGR Of Around 4.92% During 2032

As per the Zion Market Research analysts, the global package boilers market is anticipated to attain a value of around USD 9.44 Billion in 2023 and is projected to hit USD 14.55 Billion by 2032, with a compound annual growth rate (CAGR) of 4.92% during the forecast period 2024-2032. The key players active within the global package boilers market consist of Mitsubishi Hitachi Power Systems, Ltd., Cleaver-Brooks, Inc, John Wood Group PLC., Babcock & Wilcox Enterprises, Inc., Hurst Boiler & Welding Co, Inc., Thermax Global, Johnston Boiler Company, Powermaster, Forbes Marshall., IHI Corporation, Microtech Boilers Private Limited., PARKER BOILER, Rentech Boiler, ACTOM, Kawasaki Thermal Engineering Co., Ltd, Miura America Co., LTD., English Boiler, LLC, Williams & Davis Boilers., Mackenzie Industries Sdn Bhd, and Superior Boiler, among others.

Rising Implementation Of Water Heating Solution Likely To Drive The Global Market Growth

Package boilers are mainly used for hot water and steam generation in numerous industrial sectors comprising primary metals, refinery, chemical, food & beverage, pulp & paper, and other manufacturing. The package boiler market is anticipated to observe substantial expansion owing to the rising implementation of energy-efficient space and water-heating solutions together with existing regulatory steps for lessening emissions of greenhouse gas (GHG). Further, the rising need for package boilers to enhance the combustion effectiveness of biomass using new substances is also expected to boost the growth of the global package boilers market in the coming years.

In addition, the rising need for processed food and the increasing disposable income will propel the market expansion. Also, the need for package boilers is mounting considerably across numerous regions globally, because of benefits related to the usage of package boilers, like low maintenance prices and easy installation in comparison to huge industrial boilers. Additionally, R&D activities are being performed to improve the package boilers’ features.

Fire-Tube Segment, On The Basis Of Type, Expected To Grab The Highest Market Share

The fire-tube segment, on the basis of type, is anticipated to register the biggest share within the global package boilers market during the forecast period. This segmental growth can be credited to the rising usage of fire-tube package boilers in a number of marine applications and process industries, as these boilers are simple to manage and can handily be shipped from one place to another.

Asia Pacific Is Projected To Witness Highest Growth In Market During The Forecast Period

Regionally, the package boilers market in anticipated to be governed by Asia Pacific region during the forecast period. Swift infrastructural improvements along with rise in industrialization in Asia Pacific present lucrative growth avenues for package boiler manufacturers in this region, thus boosting regional market growth. Further, prevailing players within the Asia Pacific market are projected to perform capacity expansions in the years to come, because of the rising need for package boilers from several end-use industries, like food & beverage, refining, and chemicals.

Browse the full “Global Package Boilers Market by Type (Electric Boilers, Water-Tube Package Boilers, Fire-Tube Package Boilers, and Others), Design (D, A, and O-type), Fuel (Biomass, Gas, Oil, and Others), End-User Industry (Paper & Pulp, Chemical, Oil & Gas, Food & Beverage, and Others), and Region– Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024 – 2032.” Report at https://www.zionmarketresearch.com/report/package-boilers-market

The global package boilers market is segmented as follows:

By Product

• Water-Tube
• Fire-Tube
• Electric

By Technology

• Condensing
• Non-Condensing

By Capacity

• 10 MMBtu/hr
• 10-25 MMBtu/hr
• 25-50 MMBtu/hr
• 50-75 MMBtu/hr
• 75-100 MMBtu/hr
• 100-175 MMBtu/hr
• 175-250 MMBtu/hr
• >250 MMBtu/hr

By Fuel

• Gas
• Oil
• Coal

By Application

• Chemical
• Food
• Refinery
• Paper
• Primary Metals
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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