Heat Exchangers Market Report

The global Heat Exchangers market is likely to witness lucrative growth in the years to come on account of growing demand from industries including chemical, petrochemical, energy, HVACR, and food & beverages. They find widespread usage in space heating, air conditioning, refrigeration, chemical plants, power stations, petrochemical plants, natural-gas processing, petroleum refineries, and sewage treatment. Flexibility, energy-efficiency, and adaptability are some of the key properties of a heat exchanger. Implementation of stringent energy-efficiency norms and regulations are likely to have a favorable impact on the Heat Exchangers market growth.

Widespread Industrial Applications of Heat Exchangers to Act as a Key Market Booster

Increasing industrial applications of Heat Exchanger is one of the significant reasons behind the Heat Exchangers market growth. With the growing environmental concerns and need for sustainable development, the government authorities are laying emphasis on the reduction of carbon emissions. This is compelling the end-user industries to make use of energy-efficient Heat Exchangers. Innovations in the heat exchanger technology are likely to positively impact the overall market growth in the years to come. Contrarily, complex design of the heat exchanger, leakage and pressure drops, and high maintenance cost may hamper the growth of the Heat Exchangers market in future.

Key Players to Involve in Extensive Research and Development in Coming Years

The report has analysed the prominent manufacturers of Heat Exchangers including Holdings (Germany), Hindustan Dorr-Oliver (India), Danfoss (Denmark), Xylem (US), API Heat Transfer (US), Gunter (Germany), Hisaka Works (Japan), Chart Industries (US), Johnson Controls International (Ireland), and Alfa Laval (Sweden), Kelvion. The industry experts have also studied the key strategic initiatives considered by the vendors to strengthen their foothold in the Heat Exchangers market.

Due to increasing number of players in the Heat Exchangers market, the competitive scenario is turning fragmented in nature. Manufacturers are likely to take up R&D activities for the development of energy efficient Heat Exchangers to cut down the carbon emissions. Additionally, they are expanding their product portfolio so as to meet the growing demand for Heat Exchangers. Other strategic actions taken up by the market participants include product development, mergers and acquisition, and partnerships to stay ahead of the curve.

Market Segmentation

By Type

• Shell & Tube
• Plate & Frame
• Air Cooled
• Others

By Material

• Steel
• Non-steel

By End-use Industry

• Chemical
• Energy
• HVACR
• Food & Beverages
• Pulp & Paper
• Power
• Others

Shell and tube exchangers are commonly deployed in the industrial process applications due to their high efficiency and operating pressure. Plate and frame exchangers are also gaining immense recognition in the food sector as they provide a higher heat transfer area and are easier to clean than shell and tube. Heat Exchangers are made of varied materials. However, steel has emerged as a key material type as it can withstand high flow rates and is wear or corrosion resistant. Demand for Heat Exchangers will witness an upsurge in the chemical sector in the forthcoming years as the number of chemical and petrochemical industries is on the rise. Also, application of Heat Exchangers in the manufacturing of energy saving devices is anticipated to increase as per the analysts.

By Region

According to the market researchers, heavy investment in the crude oil extraction by the US government is likely to induce demand for Heat Exchangers in the oil and gas industry, thus fostering the Heat Exchangers market growth in North America. Manufacturers are increasingly focusing on establishing their base in the Asia Pacific region on the back of its huge customer base. Technological advancements and increasing investment are also offering huge growth opportunities for the APAC Heat Exchangers market. Robust industrial growth in the emerging countries of Asia Pacific is anticipated to favourably impact the regional growth.

The machinery and equipment sector is always undergoing changes with evolution in technology. Machinery and equipment include a wide range of products for various applications. Players are constantly striving to bring in innovation for efficiency and to remain relevant in the cutthroat competition. QYR Consulting brings to its readers reports ranging from heavy trucks to automated teller machines. These reports have been written after a careful analysis of the growth of the market over decades and by taking into account its trajectory.

The titles below discuss opportunities, threats, strengths, and restraints present in the machinery and equipment sector. Our dedicated team of analysts have compiled key statistics that define the trends so far and highlight the key areas of development. The collection of reports track the potential areas for investments and the upcoming trends, which could be the defining moments for the industry.