The Industrial Boilers Market was valued at USD 12.38 Billion in 2017 and is projected to reach USD 17.18 Billion by 2023, at a CAGR of 5.6% during the forecast period, as per a report by MarketsandMarkets.
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Browse 84 market data Tables and 57 Figures spread through 144 Pages and in-depth TOC on “Industrial Boilers Market”
Why increasing demand for compact designs and lean operations remains an opportunity?
Utility space is the major cause of concern for plant installations and existing plant expansions. In process industries, components such as boilers, chillers, and compressors should have a compact design for optimum space utilization. With capacity installations, the existing floor space becomes limited for utility machines. The need to ensure space utilization has contributed to the high demand for industrial boilers that have compact designs and are fuel-efficient as well as support lean operations. Boiler manufacturers are focused on promoting industrial boilers that are customized for different process requirements in various industries.
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How strict emission standards to pose a challenge?
Governments of developed countries worldwide have formulated strict emission standards for boilers, which, in turn, is projected to affect the growth of the industrial boilers market. Industrial boilers utilize fuel to generate steam, which results in pollutants being released into the atmosphere. Emission standards are formulated to limit the emission of air pollutants, such as sulfur dioxide, soot, nitrogen oxide, and mercury and its compounds. Manufacturers of industrial boilers find it difficult to comply with stringent emission standards, owing to the high R&D investments involved in designing eco-friendly boilers.
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