Heat Exchangers Market To Witness Swift Growth Owing To Rising Demand From Chemical, Petrochemical, Oil and Gas Industries Till 2022 | Million Insights

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According to new report available with Million Insights, Driving factors responsible for the growth of heat exchangers industry includes stringent environmental regulations, growth in HVACR deployments and technological advancements.However, the saturated market growth in Europe and North America is likely to impact the overall global business of heat exchangers market.

Global Heat Exchangers Market is expected to gain a significant CAGR growth in the forthcoming period. Heat exchanger is a device that is used as transference for thermal energy between two or multiple fluids or simply between two elements at different temperatures and in thermal contact. In heat exchangers, there is usually no external heat. There can be many ways a heat exchanger can be put to use. One of the typical uses of heat exchangers includes cooling of a fluid stream whereas in other applications the primary objective may be to crystallize, concentrate, distill or control a process fluid.

In many heat exchangers, fluids are segregated using a heat transfer surface and never mix or leak. Such exchangers are mainly referred to as recuperator’s or direct transfer type. Further, heat exchangers comprise heat transfer elements such as matrix for heat transfer surface, fluid distribution elements, nozzles or pipes, manifolds, tanks and inlets.

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Driving factors responsible for the growth of heat exchangers industry includes stringent environmental regulations, growth in HVACR deployments and technological advancements. However, the saturated market growth in Europe and North America is likely to impact the overall global business of heat exchangers market.

Based on segmentation by type, the heat exchangers market is segmented into shell & tube, plate & frame and air cooled. Shell & tube segment accounts for major share in the forthcoming period owing to extensive use in chemical and petrochemical industries. Based on segmentation by application, the heat exchangers industry includes chemical, petrochemical and oil & gas, food & beverage, HVACR, power generation, paper & pulp. Chemical is the largest segment accounting for major share.

Geographically, heat exchangers market spans North America, Latin America, Europe, Asia-Pacific, Middle-East and Africa. Europe market witnesses a moderate CAGR growth owing to its market size and minimal economic activities. North America is also expected to gain a positive CAGR growth in the forthcoming period owing to high demand for heat exchangers as a replacement. The key players in the heat exchangers market include Alfa Laval AB, Kelvion Holdings Gmbh, Danfoss A/S, SPX Corporation, Xylem Inc., API Heat Transfer Inc., Gunter AG & Co. KG, and Hamon&Cie International SA.

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Market Segment:

Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Heat Exchangers in these regions, from 2012 to 2022 (forecast), covering

• North America

• Europe

• China

• Japan

• Southeast Asia

• India

Global Heat Exchangers market competition by top manufacturers, with production, price, and revenue (value) and market share for each manufacturer; the top players including

• Mersen (French)

• Morgan Advanced Materials plc (UK)

• Schunk (Germany)

• Helwig Carbon Products (US)

• The Gerken Group (Belgium)

On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into

• Block Heat Exchangers

• Tube Heat Exchangers

Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/machinery-and-machine-parts

On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Heat Exchangers for each application, including

• The Oil and Gas Industry

• Power Generation

• Chemical Processing

• Industrial Ggases

• Other

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