Package Boilers Market by Type, Fuel, Design, End-Use Industry and Region - Global Forecast to 2033
Global Package boilers market was valued at USD 8,921.40 million in 2022 and is estimated to reach a value of USD 13,906.59 million by 2033 with a CAGR of 4.7% during the forecast period 2023-2033.
Growing industrialization and urbanization are driving the packaged boilers market growth in several ways. Firstly, as more cities and towns develop, the demand for energy and heat increases, especially in sectors like manufacturing, construction, and healthcare. Packaged boilers are widely used in these industries to provide heat and power, making them an essential component in urban development. Secondly, industrialization and urbanization have led to the expansion of various industries that rely on packaged boilers, such as food processing, chemical, and pharmaceutical industries.
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