Heat Exchanger Market Development Strategy, Global Trends, Historical Analysis, Sales | Global Industry is Expected to Grow at 9.5% CAGR by 2023

Heat Exchanger Market Bonded to a Striking Growth by 2023
Heat Exchanger Global Market Research Report, By Application (Chemicals, Oil & Gas, Power Generation, HVACR, Food & Beverages, Other), by Type and by Region (North America, Europe, APAC, RoW) – Forecast till 2023

Heat Exchanger Market Highlights:-

Heat exchanger are devices whose primary responsibility is the transfer or exchange of heat from one medium to another. Heat exchanger are not only used in heating applications but are also used in cooling applications such as refrigerators and air conditioners. It is largely used in power plants, chemical plants, natural gas processing, sewage treatment, and petroleum refineries. The Global Heat Exchanger Market is growing with the rapid pace; mainly due to growing demand from chemical as well as natural gas processing industry

The line-up of applications of heat exchanger serves to fuel the market growth. Apart from these factors, is the presence of established market players who constantly indulge in mergers and acquisitions to set them apart from the rest of the companies and strengthen their customer base. For instance, LU-VE recently acquired U.S based Zyklus, which allows LU-VE to make use of Zyklus’ U.S. production facility for heat exchangers.

 

Top Key Players for Heat Exchanger Market:-

  • Gunter AG & Co. KG 
  • Sierra S.p.A
  • Hamon & Cie International SA
  • Koch Heat Transfer Company 
  • Alfa Laval AB 
  • Kelvion Holdings Gmbh 
  • Southern Heat Exchanger
  • Danfoss A/S 
  • SPX Corporation
  • Xylem Inc.
  • API Heat Transfer Inc.

 

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Industry News:-

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 November 2017, US-based LNG equipment provider Chart Industries completed the acquisition of the heat transfer solutions company, Hudson Products, for USD 410 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.

 

Market Segmentation:-

The global heat exchangers market is segmented on the basis of type, application, and region.

By type, the market is sub-segmented into shell & tube, plate, regenerative, and air cooled. Amongst these, shell & tube heat exchanger is at the top position with the largest market share due to its competitive advantages such as relatively high efficiency, huge potential for heat transfer, low-pressure drops, easy maintenance and repair, reduced wear-outs, and erosion prevention. They are highly economical as compared to regenerative and air cooled heat exchangers and also possess better drainage properties.

By application, the heat exchangers market is sub-segmented into chemicals, oil & gas, power generation, HVACR, food & beverages, and others. Among these, the chemicals segment claims the largest market share in the global market due to their high importance in reaction systems, which involve reactors, purification systems, and distillation columns. Whereas the oil & gas segment also holds a substantial market share, due to refineries drawing out advantage from different boiling points of different end products of crude oil.  

 

Major Points From TOC:-

1 Executive Summary

2 Scope Of The Report

3 Market Landscape

4 Market Dynamics

5 Global Heat Exchangers Market, By Type

6 Global Heat Exchangers Market, By Application

6.1 Introduction

6.2 Chemicals

6.2.1 Market Estimates & Forecast, 2018-2023

6.2.2 Market Estimates & Forecast By Region, 2018-2023

6.3 Oil & Gas

6.3.1 Market Estimates & Forecast, 2018-2023

6.3.2 Market Estimates & Forecast By Region, 2018-2023

6.5 HVACR

6.5.1 Market Estimates & Forecast, 2018-2023

6.5.2 Market Estimates & Forecast By Region, 2018-2023

6.6 Food & Beverages

6.6.1 Market Estimates & Forecast, 2018-2023

6.6.2 Market Estimates & Forecast By Region, 2018-2023

6.7 Others

6.7.1 Market Estimates & Forecast, 2018-2023

6.7.2 Market Estimates & Forecast By Region, 2018-2023

Continued….

 

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Global Heat Exchanger Market:-

The Europe market revels in the presence of industries such as automobiles and motorsports which make massive demand for heat exchangers. Moreover, several emerging manufacturers from Europe are predicted to reduce import dependence on other countries, which will work for the regional market positively. Apart from this, growing environmental concerns regarding use of non-renewable energy resources substantially elevate the market growth in the region. Remarkable growth in the renewable energy sector over the past few years is projected to augment the heat exchanger industry due to various ongoing projects for improving power generation capacity.

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.

 

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