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Surging adoption of tightening emission regulations is creating abundant opportunities for market growth. In January 2023, the U.S. DOE announced over USD 131 million in R&D projects for large-scale implementation of carbon management technologies to cut down carbon dioxide pollution levels in the country. The EPA has also rolled out several regulations for the replacement of traditional inefficient boilers which has increased the use of natural gas as a feedstock for steam-generating boilers.