Boiler System Market 2021 Economic Environmental Analysis and Future Forecast 2025
The global boiler system market is garnering increasing traction. Market growth is attributed to the rising adoption of industrial boilers in industries such as metal, food & beverage, and chemicals. Besides, the increasing trend of higher efficiency and efficacy suggests the rising market demand. Moreover, spurting rise in the food processing sector and growing demand for clean energy sources escalate the market growth to furthered height. According to Market Research Future (MRFR), the global boiler system market is projected to reach USD 3,573.6 MN by 2022, growing at 4.70% CAGR during the forecast period (2015 – 2022). IN 2014, the market valuation had reached USD 1,900.4 million. Significant growth in the HVAC system industry acts as a significant driving force for the growth of the market. Additionally, rising smart home projects and advances in furnace efficiency that regulates minimum AFUE (Annual Fuel Utilization Efficiency), boost the market growth. AFUE estima...