Packaged boiler: Key market research findings
- APAC dominates the market geographically
- Food and beverages segment accounts for a majority of the market’s revenue
- Key vendors – Alfa Laval, Doosan, Forbes Marshall, Mitsubishi Hitachi, and Thermax
Technavio’s market research analysts predict the global market for packaged boiler to grow at a CAGR of more than 5% between 2016 and 2020. The growth of this market can be attributed primarily to the increasing need to comply with emission regulations. As such, conventional boilers have to be upgraded or replaced to meet the emission standards. Several industries have started converting boilers that run on steam generated from coal or diesel to natural gas fired packaged boilers. This helps reduce emissions and achieve higher efficiency at low operational costs compared to the existing boilers. There are many technologies that help control nitrogen oxide (NOx) emission in boilers that operate on natural gas. During 2015, the global packaged boiler market was dominated by the APAC region by accounting for over 37% of the overall market value. Rapid industrialization and urbanization in regions such as China, India, Australia, South Korea, Taiwan, Singapore, and Japan will contribute significantly to the growth of the packaged boiler market in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the packaged boiler segments based on the end-user.
“The use of biomass as fuel is becoming increasingly popular in the market currently. Biomass is considered to be one of the oldest forms of renewable energy. Some APAC countries produce a lot of biomass in the form of coconut shell, agricultural waste, rice husk, and waste wood among others. This is generally used in boilers as an energy source. These sources can easily replace the non-renewable sources such as diesel, fuel oil, and, coal, which in turn, will help cut the operational costs and reduce the greenhouse gas emissions,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research.
By 2020, the food and beverages industry will account for more than 28% of the overall market revenue to continue its position as the key revenue generating vertical of the market. Heating and steam generation are some of the key applications in this industry as it is a means to prevent microbiological growth in food products. Steam is required to cook and bake the food products to make it achieve specific characteristics such as softness and smoothness and digestibility. Heating, which uses steam from packaged boilers, has widespread applications in sanitation, sterilization, and pasteurization of packaged food products. It is also required for surface cleaning and sanitization of equipment used in food packaging.
The key vendors in the global packaged boiler market include Alfa Laval, Doosan, Forbes Marshall, Mitsubishi Hitachi, and Thermax. The industry is driven by the ability to meet the end-user preferences. The customer preference generally includes safety, ease of operation, cost, sustainability, reliability and tailored need.
A more detailed analysis is available in the Technavio report, Global Packaged Boiler Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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