Heat Exchanger Market – Overview
Accruing Heat Exchanger Market is progressing with the fast pace; mainly due to its applications across the industries. From Agro-industry (heat exchangers for sugar factories and distilleries) to swimming pools to maintain the water temperatures. Other remarkable applications of Heat Exchangers are Chemical Factories, HVAC and etc.
According to a recent study report published by the Market Research Future, the Global Heat Exchanger Market has been increasing steadily and expected to gain further prominence during the forecasted period. The Market is forecasted to demonstrate a spectacular accretions, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023). The Heat Exchanger Market is anticipated to grow further with a staggering CAGR of 8.2% during the forecasted period. With such a phenomenal growth records, MRFR experts are also expecting the market to perceive the accruals of USD 19.45 Billion by 2023.
On the other hand, fluctuating prices of raw material acting as major barrier for the growth of the heat exchanger market. Adversely, increasing number of power plants across the globe is indicating to the augmented demand of condensers, eventually, leading to provide impetus to the market growth of Heat Exchangers during the forecasted period (2017- 2023). A safe, reliable and low cost electrical energy supply is critical to ensuring power continuity in the future. Heat Exchangers can be used to optimise the effectiveness of plants in a variety of important niche applications such as; Energy recovery, Energy Storage and Solar Thermal Energy. Heat exchangers offer safe, reliable and robust design combined with high effectiveness, compact size and a close temperature approach. This ensures heat exchangers provide its users with a cost effective solution throughout the entirety of their implementation. Thus, the global demand for all kinds of heat exchangers is expected to upsurge; leading to spur the market growth of the global heat exchangers market.
Heat exchangers are devices used to transfer heat energy from one fluid to another. Heat exchangers find widespread use in power generation, chemical processing, electronics cooling, air-conditioning, refrigeration, and automotive applications. Heat exchangers used in abundantly in chemical and process industries. It is also used in automobiles in the form of radiators and oil coolers. It is most preferred and widely accepted equipment due to its green and energy-efficient properties. The focus of various regulatory bodies to reduce the amount of greenhouse gases for meeting the future sustainability is further driving the market for heat exchangers.
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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),
- Hamon & Cie International SA (Belgium).
Heat Exchanger Market -Regional Analysis
Europe is leading the market of Heat Exchanger. Strong market for plate & frame heat exchangers. The region has the presence of most of the global leaders in heat exchanger manufacturing. New emerging technologies and regulations in certain regions have also helped in the growth of heat exchanger industry. Innovative heat exchangers are that can withstand corrosive chemicals are gaining popularity.
Asia-Pacific is witnessing high industrial growth rate which will increase the demand for plate & frame heat exchangers for its diverse applications. China dominating the plate & frame heat exchangers market in Asia-Pacific region, being a major consumer and the fastest growing country in terms of plate & frame heat exchangers demand. Moreover, increasing number of plate & frame heat exchangers manufacturers from Asian countries are putting efforts for developing a strong base of plate & frame heat exchangers market, with a target of reducing plate & frame heat exchangers imports.
List of Tables
Table 1 Global Heat Exchanger Market, By Type
Table 2 Global Heat Exchanger Market, By Application
Table 3 Global Heat Exchanger Market, By Regions
Table 4 North America Heat Exchanger Market, By Country
Table 5 North America Heat Exchanger Market, By Type
Table 6 North America Heat Exchanger Market, By Application
Table 7 U.S. Heat Exchanger Market, By Type
Table 8 U.S. Heat Exchanger Market, By Application
Table 9 Canada Heat Exchanger Market, By Type
Table 10 Canada Heat Exchanger Market, By Application
List of Figures
Figure 1 Research Type
Figure 2 Global Heat Exchanger Market: By Type(%)
Figure 3 Global Heat Exchanger Market: By Application(%)
Figure 4 Global Heat Exchanger Market: By Region
Figure 5 North America Heat Exchanger Market, By Type(%)
Figure 6 North America Heat Exchanger Market, By Application(%)
Figure 7 Europe Heat Exchanger Market, By Type(%)
Figure 8 Europe Heat Exchanger Market, By Application(%)
Figure 9 Asia-Pacific Heat Exchanger Market, By Type(%)
Figure 10 Asia-Pacific Heat Exchanger Market, By Application(%)
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