Global Package Boilers Market is Likely to Grow a CAGR of 8.94% during the Forecast Period

The latest market report published by Credence Research, Inc. “Global Package Boilers Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Package Boilers Market generated revenue of around USD 10.03 billion in 2021 and is anticipated to grow a CAGR of over 8.94% during the forecast period from 2021 to 2028 to reach around USD 19.73 billion in 2028. While, cumulative growth opportunity presented by the global Package Boilers is around USD 109.15 billion during 2022 to 2028.

Global Package Boilers Market, 2021 – 2028 (USD Million)

Browse the full report at  Package Boilers Market Size, Trends, Share and Growth Report | Forecast to 2028 (credenceresearch.com)

The package boilers market is expected to maintain a positive growth rate over the next decade. Several factors are driving the growing demand for package boilers. The food and beverage industry are the most significant factor that will drive the growth of the package boiler market. Across different areas worldwide, the demand for package boilers is rising. A driving factor for this is the inherent benefits that package boilers offer. Package boilers are easier to install and simpler to maintain than large industrial boilers. Hence, this will be a prime factor behind the increasing demand for the package boilers market. Much research and development are underway to improve the functionality of package boilers.

D-Type Package Boilers to Rule the Industry

D-Type Package Boilers, A-Type Package Boilers, O-Type Package Boiler are major types of package boilers based on design. D-Type Package Boilers is most important segment of package boiler industry and held over 40% share in total revenue generated by this industry. However, A-Type Package Boilers is also expected to witness rapid growth during the forecast period.

Fire-Tube Package Boilers to Report Strong Growth

Fire-Tube Package Boilers, Water-Tube Package Boilers, Electric Boilers and Others are major types of package boilers. Fire-Tube Package Boilers is leading segment based on types of package boilers. It held over 30% share in the global market and likely to hold its largest share over the forecast period. While, Water-Tube Package Boilers is also expected to advance at a rapid pace to increase in its share towards the end of forecast period.

Biomass Fuel to Exhibit Huge Growth

Oil, Gas and Biomass are key types of fuels used in package boilers. Oil & gas are major types of fuels used in package boilers. However, biomass is anticipated to grow at a rapid pace. Oil & gas powered package boilers are expected to witness sluggish growth owing to stringent emission regulations in Europe and North America. However, Biomass is expected to replace tradition fuels at a fast pace.

Food & Beverage Accounted for Over One Third Share

Food & beverage is one of the leading application markets for package boilers. Food & Beverage, Chemical, Oil & Gas, Paper & Pulp, Others are major applications for package boilers. Food & beverage generated over 30% revenue in 2021. While, chemical is also expected to generate attractive traction during the forecast period.

Focus on Innovation

Major players are focused on innovative product offering. Cleaver-Brooks, Inc, Mitsubishi Hitachi Power Systems, Ltd., Babcock & Wilcox Enterprises, Inc., John Wood Group PLC., Thermax Global, Hurst Boiler & Welding Co, Inc., Powermaster, Johnston Boiler Company, IHI Corporation, Forbes Marshall., PARKER BOILER, Microtech Boilers Private Limited., ACTOM, Rentech Boiler., Miura America Co., LTD., Kawasaki Thermal Engineering Co.,Ltd, Williams & Davis Boilers., English Boiler, LLC, Superior Boiler, Mackenzie Industries Sdn Bhd. are leading players operating around the world.

Market Segmentation

Global Package Boilers Market by Design, 2016 – 2028

  • D-Type Package Boilers
  • A-Type Package Boilers
  • O-Type Package Boiler

Global Package Boilers Market by Fuel, 2016 – 2028

  • Oil
  • Gas
  • Biomass
  • Others

Global Package Boilers Market by Type, 2016 – 2028

  • Fire-Tube Package Boilers
  • Water-Tube Package Boilers
  • Electric Boilers
  • Others

Global Package Boilers Market by End-user, 2016 – 2028

  • Food & Beverage
  • Chemical
  • Oil & Gas
  • Paper & Pulp
  • Others

Global Package Boilers Market by Company, 2021

  • Cleaver-Brooks, Inc
  • Mitsubishi Hitachi Power Systems, Ltd.
  • Babcock & Wilcox Enterprises, Inc.
  • John Wood Group PLC.
  • Thermax Global
  • Hurst Boiler & Welding Co, Inc.
  • Powermaster
  • Johnston Boiler Company
  • IHI Corporation
  • Forbes Marshall.
  • PARKER BOILER
  • Microtech Boilers Private Limited.
  • ACTOM
  • Rentech Boiler.
  • Miura America Co., LTD.
  • Kawasaki Thermal Engineering Co.,Ltd
  • Williams & Davis Boilers.
  • English Boiler, LLC
  • Superior Boiler
  • Mackenzie Industries Sdn Bhd
  • Others