Indonesia process boiler and heating equipment market was valued at around $ 45 million in 2019 and is projected to grow at a CAGR of around 4% by 2026 on account of increasing investments in process industries such as food and beverage industry, wood processing, bamboo and rattan industries, etc. Moreover, various government policies such as Tax holiday policy, Viability Gap Funding and emphasis on cleaner fuels such as natural gas and renewables usage are further anticipated to drive demand for process boilers and heating equipment across the country during forecast period.
Indonesia process boiler and heating equipment market is segmented by type, by fuel type, and by region. Based on type of equipment the market is further fragmented into steam boiler, thermic fluid heater, hot water generator, hot air generator & waste heat recovery boilers. Steam Boiler asserts its dominance over the market in the historical years and is expected to show similar behavior in the next five years. The growth can be reasoned with the growing installation of energy efficient boilers in the industries. Refurbishing and renovations of the industries causes the installation of boilers and other heating equipment at a large scale thus driving the market toward its expected growth.
COVID-19 pandemic hit Indonesia during early March 2020, the industries were shut down and heavy losses were incurred. But the market reverted the setback into a considerable growth in the next half of the year and is expected to grow at the steady rate in the upcoming five years.
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.
Years considered for this report
Historical Years2016-2019
Base Year2020
Estimated Year2021
Forecast Period2022-2026
Objective of the Study
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Market insights research performed primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of process boiler and heating equipment manufacturers and suppliers, in Indonesia. Subsequently, Market insights research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market insights research was able to include manufacturers that could not be identified due to the limitations of secondary research. Market insights research analyzed product offerings, end user, and regional presence of all major process boiler and heating equipment manufacturing companies across Indonesia.
Market insights research calculated the Indonesia process boiler and heating equipment market size using a bottom-up approach, wherein manufacturers’ value sales data for different engine types was recorded as well as forecast for the future years was made. Market insights research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by Market insights research.
Key Target Audience
- Indonesia process boiler and heating
equipment manufacturers, suppliers and end users
- Research organizations and consulting
companies
- Associations, organizations and
alliances related to process boiler and heating equipment
- Government bodies such as regulating authorities
and policy makers
