Steam Boilers to Lead Indonesia Process Boiler and Heating Equipment through 2024
Growth
in domestic demand arising from end user industries coupled with stable
inflation and an increase in investments to boost demand for process boilers
and heating equipment in Indonesia through 2024
According to a recently published TechSci Research
report, “Indonesia
Process Boiler and Heating Equipment Market By Type, By Fuel Type, By
Region, Competition, Forecast & Opportunities, 2024’’ Indonesia process boiler and heating equipment is expected to grow at a
CAGR of around 4% during forecast period to cross $ 54 million by 2024. The developmental
plan of the Indonesian government focussing particularly on infrastructure
development and health-care industries would drive the demand for process
boilers and the associated heating equipment in the country.
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Among types,
steam boilers accounted for the largest market share in Indonesia process
boiler and heating equipment market in 2019 and is likely to maintain its
dominance throughout the forecast period as well, on account of growing application
of steam boilers in the process industries.
Some of the major companies operating in Indonesia process
boiler and heating equipment market include PT. Basuki Pratama Engineering, PT.
Atmindo Tbk, PT Maxitherm Boilers Indonesia, PT Thermax, Forbes Marshall,
Jiangsu Olymspan Thermal Energy Equipment Co., Ltd., Henan Yuanda Boiler
Corporation Ltd., Wuxi Zozen Boilers Co., Ltd., SAZ Boilers and PT Aalborg
Industri Indonesia, among others.
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“Amid rising tensions between
Indonesia’s two largest trading partners, viz., US and China, increasing
investments in infrastructure and development of better connectivity in the
country would lead to an overall development of the economy. Moreover, some
regulatory corrective measures undertaken by the Indonesian government such as
the Viability Gap Funding (VGF), the Indonesia Infrastructure Guarantee Fund,
tax holiday policy etc., would spur the demand for steam boilers and process
heating equipment in the process industries such as food & beverages,
textile manufacturing, and paper and pulp industry in the country. These factors
coupled with the Ministry’s rising focus on agroindustry is likely to promote
the growth of Indonesia process boilers and heating equipment market.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Indonesia
Process Boiler and Heating Equipment Market By Type, By Fuel Type, By Region,
Competition, Forecast & Opportunities, 2024’’ has evaluated the future
growth potential of Indonesia process boiler and heating equipment market and
provides statistics and information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decision. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in Indonesia process boiler and heating equipment market.
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