According to an eminent research firm, Market Research Future (MRFR), the global heat exchanger market would demonstrate significant growth, registering over 9.5% % CAGR throughout the forecast period (2018 – 2023). Advances in the heat exchanger related technology and increase in HVACR process equipment is a key driving force behind this growth of the market.
Heat exchangers are vital in the maintenance of safety and efficacy of various processes in diverse industries such as chemical, food, waste recovery, oil & gas, and others. They prevent overheating by transfer of thermal energy between one fluid to another or solid surface. Heat exchangers are experiencing high demand from both commercial and non-commercial sector for the reduction of energy costs.
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- Xylem Inc. (U.S.),
- API Heat Transfer Inc. (U.S),
- Southern Heat Exchanger (U.S.),
- Gunter AG & Co. KG (Germany),
- Hamon & Cie International SA (Belgium),
- Hughes Anderson Heat Exchangers (U.S.),
- Kelvion Holdings Gmbh (Germany),
- Koch Heat Transfer Company (U.S.),
- Danfoss A/S (Denmark),
- Alfa Laval AB (Sweden),
- SPX Corporation (U.S.), and
- Sierra S.p.A (Italy).
Global Heat Exchanger Market – Segments
For a better understanding, the report has been segmented into three key dynamics:
By Type : Shell and Tube Heat Exchanger, Regenerative Heat Exchanger, Plate Heat Exchanger, and Air cooled, among others.
By Application : Oil & Gas, Chemicals, Power Generation, HVACR, and Food & Beverages, among others.
By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.
North America, Europe, Asia Pacific, and the Middle East & Africa are the key markets for heat exchanger.
Europe is the largest market for heat exchanger due to augmented demand from the region due to cold weather condition. Moreover, the region is leading in terms of production of plate & frame heat exchangers in regions such as Germany, UK, and France. Also, the region is home to major heat exchanger manufacturers such as Kelvion Holdings Gmbh, Gunter AG & Co. KG and others which provides an added advantage to Europe.
Asia Pacific market is expected to witness maximum growth over the forecast period. Rapid industrialization in countries such as China, India, Japan, Indonesia, and Australia initiate the high demand for heat exchangers.
The Middle East & Africa market generates substantial demand for heat exchangers owing to growing application in oil refineries.
- October 2018- The manufacture of heat exchangers is limited to subtractive manufacturing processes which have proven to be inefficient. Conflux Technology, Australia-based additive manufacturing company has directed its efforts towards the development of new and innovative heat exchanger, Conflux Core heat exchanger with the utilization of 3D printing technology.
- In October 2018, Komax System, an industry leader in static mixing technology, steam heaters, desuperheaters, and heat exchangers, launched a new advanced heat exchanger, the Komax Klean-Wall. The new heat exchanger is an advanced inline mixing system and has been backed by cutting-edge technology is capable of meeting the unique mixing requirements of users.
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Table Of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
4.6 List Of Assumptions
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