(Food-Beverage-News.Com, November 30, 2021 ) The report "Package Boilers Market by Type (Fire-Tube, Water-Tube, Electric), Fuel (Oil, Gas, Biomass), Design (D-Type, A-Type, O-Type), End-Use Industry (Food & Beverage, Chemical, Oil & Gas, Paper & Pulp), and Region - Global Forecast to 2022", The package boilers market is estimated to be USD 8.92 Billion in 2017 and is projected to reach USD 11.06 Billion by 2022, at a CAGR of 4.40% from 2017 to 2022. This growth can be attributed to the increased demand for package boilers from the food & beverage industry.
Based on type, the fire-tube package boilers segment is anticipated to lead the package boilers market during the forecast period
The package boilers market on the basis of type has been segmented into fire-tube package boilers, water-tube package boilers, electric boilers, and others. The fire-tube package boilers segment accounted for the largest share of the package boilers market in 2016. This large share can be attributed to the growing use of fire-tube package boilers in various process industries and marine applications, as these boilers are easy to handle and can conveniently be transported from one place to another.
Based on end-use industry, the food & beverage segment is anticipated to lead the package boilers market during the forecast period
The food & beverage end-use industry segment is anticipated to lead the package boilers market from 2017 to 2022. This growth can be attributed to the increasing expenditure in the food & beverage processing industry, as a result of the rise in disposable income in emerging economies, increased government support for processed food, and shift towards automation and modernization processes.
The package boilers market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period
The package boilers market in the Asia Pacific region has been studied for China, Japan, India, Australia, South Korea, Indonesia, and rest of Asia Pacific. Rapid industrialization and infrastructural developments in Asia Pacific offer lucrative growth opportunities to manufacturers of package boilers in this region. Existing market players in the Asia Pacific region are anticipated to carry out capacity expansions in the coming years, due to the increased demand for package boilers from various end-use industries, such as chemicals, food & beverage, and refining.
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), 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) are key players operating in the package boilers market.
