Heat exchanger industry is expected to have a huge number of advancements over the forecast period owing to continuous developments in end-use industry coupled with rising demand from industries in the end use sector. The market is also expected to have high expansion activities by multinationals and well-established companies.
The Global Heat Exchanger market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, CAGR of 8.2% during the estimated period (2018 – 2023).
Increasing stringent environmental regulations across the globe is the major factor driving the demand of market. Additionally, technological advancements in heat exchanger also have the positive influence on the growth of the market. However, fluctuating prices of raw material and high cost of synthetic may restrict the growth of the market.
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Modine Manufacturing Company, a diversified global leader in thermal management technology and solutions, announced the completion of its previously disclosed agreement to purchase Luvata Heat Transfer Solutions (HTS). The agreement to acquire the company was announced on September, 2016. The purchase price was approximately USD 418 million.
In April 2017, Wabtec Corporation has acquired Thermal Transfer Corp., a supplier of industrial heat exchangers. The company has annual sales of about USD 25 million.
In November 2017, US-based LNG equipment provider Chart Industries completed the acquisition of the heat transfer solutions company, Hudson Products, for USD 410 million.
Market Players :-
The major player operating in the market of global heat exchanger are Alfa Laval AB (Sweden), Kelvion Holdings Gmbh (Germany), Southern Heat Exchanger (U.S.), Danfoss A/S (Denmark), SPX Corporation (U.S.), Xylem Inc. (U.S.), API Heat Transfer Inc. (U.S), Gunter AG & Co. KG (Germany), Sierra S.p.A (Italy), and Hamon & Cie International SA (Belgium), Koch Heat Transfer Company (U.S.), and Hughes Anderson Heat Exchangers (U.S.).
Major Point of Virtual Power Plant Market TOC:-
1 Executive Summary
2 Scope Of The Report
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 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
To be continued……..
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Asia-Pacific is anticipated to witness sharp expansion and developments in heat exchanger market as compared to other geographical regions, mainly by virtue of growing industrialization and increasing demand from developing nations like China and India. China is likely to register huge developments in its heat exchanger market due to growing demand from chemical as well as refrigeration industries.
Europe region is capturing the largest market share of heat exchanger market owing to robust presence in plate & frame heat exchangers with respect to demand as well as production capacity. Moreover, heating demand from the region due to the cold weather condition drives the market for heat exchangers.
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