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The Fuel-Flexible Boiler Market was valued at USD 8.6 Billion in 2023 and is expected to grow at a strong CAGR of around 7.2% during the forecast period (2024-2032). The market for fuel-flexible boilers is rapidly developing as the demand for efficient and diverse energy sources is rising.
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The India gas-insulated switchgear market was valued at USD 2 Billion in 2023 and is expected to grow at a strong CAGR of around 6.5% during the forecast period (2024-2032). India’s gas-insulated switchgear (GIS) market is constantly growing driven by rapid urbanization, the expansion of the power sector, and the increasing demand for reliable and compact power infrastructure.
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The India LPG market was valued at USD 15 Billion in 2023 and is expected to grow at a strong CAGR of around 3.4% during the forecast period (2024-2032). Liquefied Petroleum Gas (LPG) Industry in India has grown and evolved remarkably recently. For ages, Indians have used biomass for cooking; the government has actively marketed LPG as a less pollutive and efficient fuel type.
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The Middle East solid state transformer market was valued at USD 100 Million in 2023 and is expected to grow at a strong CAGR of around 12.3% during the forecast period (2024-2032). The solid-state transformer (SST) is a market in the Middle East that is expanding due to various factors such as increasing technological innovation in electrical and electronic devices and systems and the increasing need for advanced efficient transformation of electrical power.
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The Gear Motors market was valued at approximately USD 8892.50 Million in 2023 and is expected to grow at a robust CAGR of around 6.91% during the forecast period (2024-2032) owing to the increasing automation in industries, the demand for energy-efficient solutions, and the adoption of smart technologies like IoT for enhanced operational efficiency.
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The India Heat Transfer Fluids Market was valued at USD 840 million in 2023 and is expected to grow at a strong CAGR of around 3.2% during the forecast period (2024-2032). With rising industrialization, the application of heat transfer fluids is on the rise in various Indian industries including chemical, oil & gas, automotive, and renewable energy.
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