The boiler, tank, and shipping container are majorly tend to be used for industrial applications which includes storage purpose, transportation of goods, and for various industrial operations as well. Boilers are vastly used for heating applications in various industries such as chemical, food & beverage, and textile industry for carrying out various processes. Whereas, tanks and containers are being majorly used for shipping, storing, and logistic purposes.
According to the report analysis, ‘Boiler, Tank, And Shipping Container Global Market Report 2020-30: Covid 19 Impact and Recovery’ states that Cesaroni Technology, Ordan Thermal Products Ltd, Allied Can Manufacturing, Nu-Tech Precision Metals, Steam Sauna are some of the key players which are prevailing in the market and the entire market is being dominated by these few firms largely. The report covers various level of segmentations on the market such as on the basis of Type (Power Boiler and Heat Exchanger, Metal Tank, Metal Can, Box, and Other Metal Container), by Application (Residential; Commercial, and Others) and by Product Type (Refrigerated Container, Dry Storage Container, Special Purpose Container, Flat Rack Container, and Others) by Container Size (Small Containers, Large Containers, and High Cube Container). Moreover, the report also covers country level data for some of the major countries such as China, India, Indonesia, Austria, Belgium, Denmark, France, Sweden, Poland, Spain, Russia, Romania, USA, Canada, Mexico, Argentina, Brazil, Saudi Arabia, UAE and many more.
The report finding suggests that the Western Europe is the largest region in the global boiler, tank, and shipping container market, accounting highest share in the market, followed by the Asia Pacific which is accounting the second largest share in the global boiler, tank, and shipping container market. On the other hand, Africa accounted the least share in the overall global boiler, tank, and shipping container market.
Some of the recent trends showcased that the Compact Heat Exchanger is capable of low rate heat transfer and is increasingly finding its presence in this market for low rate applications. Also, compact heat exchanger uses smaller tubes compared to the existing large exchangers to keep the heat velocity high during transfer from one medium to another. Compact Heat Exchanger has been especially designed for low rate applications such as pharmaceuticals, food processing, dairy industry and many more. Compact heat exchanger is useful for small batch processing by avoiding the bypass problem when using large exchangers for these purposes.
On the other hand, the boiler, tank, and shipping container industry majorly consists of the sales of boiler, tank, and shipping containers of major entities such as organizations, sole traders and partnerships which are indulged in producing power boilers and heat exchangers, cut, form, and join heavy gauge metal to produce tanks, vessels, and other containers or form light gauge metal containers.
In the recent times, the global boiler, tank, and shipping container market has declined at a compound annual growth rate (CAGR) in double digit. The decline has been majorly due to economic slowdown across countries which has been caused by the COVID-19 outbreak at the global level. However, it is anticipated that the market will recover and grow at a single digit CAGR Post Covid-19.
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Ankur Gupta, Head Marketing & Communications