Package Boilers Market

A package boiler is a self-contained appliance that derives its energy from an integrated burner that runs on oil or gas. Package boilers can produce a large amount of steam at high pressure and temperature. They are fully constructed devices that include all attachments, mountings, and control instruments. They are designed as small single units, which simplify the installation process and require fewer on-site assemblies. They require steam and water pipelines, as well as a fuel supply and electrical connections. Due to the autonomous burner control technology and small size, these boilers are less expensive to operate and maintain. 

Market Scope and Structure Analysis

Description

Package boilers often feature greater turndown, automatic excess air control, improved efficiency, better fuel ratio burner management, and very low emissions. Hence, they have various advantages in commercial and industrial fields. They are used to generate steam and hot water in a variety of industries, such as chemical, primary metal, pulp & paper, food & beverage, refinery, and other businesses. The package boiler business is expected to grow rapidly due to increased use of hot water solutions and energy-efficient spaces, as well as current regulatory efforts to reduce greenhouse gas (GHG) emissions.

COVID-19 Impact analysis

• The COVID-19 pandemic ceased the production of various products in the package boilers industry, which is attributed to the global lockdown. This has hampered the growth of package boilers market from the last few months and is likely to continue through 2022.
• COVID-19 affected the sales of package boilers in the first quarter of 2021 and is anticipated to cause a negative impact on the market growth throughout the year.
• The major demand for package boilers was previously noticed from giant manufacturing countries, such as North America, Europe, Asia-Pacific, and South America, which are negatively affected by the spread of the coronavirus, thereby declining the demand for boilers.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Package boilers manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce their expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 health crisis.
• Package boilers manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, and ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce. 

Top Impacting Factors

Increase in demand for package boilers to improve biomass combustion efficiency through the use of innovative materials is expected to generate growth prospects in the global package boilers market during the projected period. Furthermore, increased disposable income and increased demand for processed foods have a positive impact on the industry’s growth.

In addition, new package boiler models feature advanced digital technology to help manage the emissions, turndown, and other important aspects of a boiler's day-to-day functioning. As technology advances, new boilers are being created that can burn biomass, natural gas, biogas, wet wood, solid waste, and other fuels. Reduced CO2 emissions, reduced heating costs, and energy efficiency of compact boilers are some of the key attributes expected to drive the compact boiler market during the forecast period.

• In February 2020, Clever-Brooks launched Prometha, a system that offers real-time data and has intelligent system. It allows boiler system optimization and gives insights to a wide range of healthcare, manufacturing, educational, and hotel. Prometha captures a minimum of 250 data analytics on each monitored asset in the boiler room 10 times per minute and remotely shows important performance indicators on a dashboard, making system performance easier to monitor.
• In July 2021, Kawasaki Thermal Engineering launched the highly efficient boilers, IF Series and WillHeat Series. IF Series can achieve 99% boiler efficiency and has a newly developed high-performance economizer. WillHeat is a steam boiler with heat surface less than 10m2.  

Key Benefits of the Report

• This study presents the analytical depiction of the package boilers industry along with the current trends and future estimations to determine the future investment pockets.
• The report presents detailed information related to key drivers, restraints, opportunities, and market share of package boilers.
• A quantitative analysis highlights the package boilers growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
• The report provides a detailed package boilers analysis based on competitive intensity and how the competition will take shape in coming years.
   

 Package Boilers Market Report Highlights