July 23, 2020

Demand for Boilers Growing Swiftly in Asia-Pacific

The food processing industry has been registering significant growth over the past few years, majorly in emerging economies, which can be owing to the rising disposable income of people, changing lifestyle, and busier schedule. As the demand for ready-to-eat food products is growing, the need for increasing productivity in industries is growing as well. In addition to this, the requirement for machineries utilized in such industries, including boilers, is growing as well. An enclosed vessel which facilitates combustion for transferring heat to the water till it becomes steam or hot water, is referred to as a boiler.

The steam or hot water then is utilized for transferring heat to a process, as the boiled water or steam increases by 1,600 times in volume, generating a force which is almost as explosive as gunpowder. As per a report by P&S Intelligence, the global boiler market is projected to advance at a substantial pace in the years to come. There are two major types of boilers, namely fire tube boiler and water tube boiler, between which, the demand for fire tube boilers has been higher up till now. This can be due to the low cost and extensive applications of these boilers.

Get a sample copy of this report: https://www.psmarketresearch.com/market-analysis/boiler-market/report-sample

The major applications of boilers are commercial & industrial (C&I) and residential, between which, the demand for boilers for C&I application was considerable in the past. Boilers are used in several sectors, including food & beverages and chemical. Other than this, the demand for boilers is also predicted to rise significantly for applications in the residential sector in the years to come. This is because of the growing concerns regarding the surging carbon emissions and the rising requirement for energy-efficient space heating solutions.

The global boiler market on the basis of geography is categorized into North America, Europe, Latin America (LATAM), Asia-Pacific (APAC), and the Middle East and Africa (MEA). Among all regions, APAC is expected to hold substantial share in the market, owing to significant growth in chemical, power, food & beverages and other industries in the region mainly in China, India, and Japan. North America is also expected to hold considerable share in the market, owing to rising demand for end-use products. To cater this increase in demand, companies are not only increasing their production capacity but also installing new industrial plant, which, in turn, is boosting the market.