Heat Exchangers Market

Introduction of the Global Heat Exchangers Market Report

Heat exchangers refer to the devices that permit the transfer of heat from a fluid to a second fluid without the need to mix those fluids or make them come into direct contact. These devices are developed to offer the required amount of thermal energy for cooling or heating a fluid stream in a process. There are two types of mechanisms used for transferring the heat that is employed in the heat exchangers, including single-phase and two-phase heat transfer. The heat exchangers operate under the same fundamental principles, regardless of the type and design.

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The global heat exchangers market is primarily driven by several factors that include the increasing industrialization across developing countries and the rising deployment of power plants to meet the growing demand for energy across the world. In addition, continuous technological advancements for the development of heat exchangers such as rapid 3D prototyping, phase-change cooling technology, and various research & development activities are further energizing the demand of the market in the coming years.

The stringent rules & regulations to reduce carbon emissions & global warming is also an important factor fuelling the growth of the market. Moreover, expansion in the construction industry is leading to strong demand for heating and cooling equipment in commercial & residential buildings. The heat exchangers offer exceptional advantages such as less energy consumption and low requirement of maintenance and space. All these factors are likely to surge the demand for heat exchangers at the global level. The factors that hinder the growth of the global heat exchangers market include the rising cost of the development of heat exchangers due to the increasing cost of the raw materials and lack of awareness related to the building’s energy efficiency.

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Based on the type, the shell & tube heat exchangers segment is expected to increase at a higher CAGR during the forecast period owing to the accelerated adoption of such heat exchangers across several industry verticals such as food & beverages, chemicals, and other industries. The shell & tube heat exchangers provide remarkable advantages such as reduced maintenance costs, easy inspection & disassembly, resistance to thermal shocks along with the reduced pressure loss, and easy maintenance. All these benefits will attract many customers to opt for these heat exchangers. The shell & tube heat exchangers are designed & manufactured in such a manner that make them feasible to withstand very high pressures, thus making them suitable to work across all applications.

Based on the end-use industry, the energy segment is anticipated to grow at a higher compound annual growth rate over the forecast period due to the rising implementation of heat exchangers in this industry as a result of increased demand in the downstream and upstream processing industry. Expansion in the energy sectors owing to the strong demand for energy & power as a result of the rising population is also a factor driving the market growth of this segment.

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Based on the region, Asia-Pacific is expected to grow at a higher compound annual growth rate during the forecast period owing to the increasing demand for heat exchangers across several industry verticals in countries like India and China. In addition, rapid industrialization, increasing urbanization, and growing demand for the products from the consumers are resulting in increasing investments in various industries, which is another factor driving the growth of the heat exchangers market in this region.

Various notable players operating in the market include Kelvion Holding GmbH, Alfa Laval, Xylem, Danfoss, Chart Industries, API Heat Transfer, Hindustan Dorr-Oliver Ltd., Guntner GmbH & Co. KG, Johnson Controls, and Hisaka Works Ltd., among others.

Key Developments:

• • In 2019, Kelvion Holding GmbH launched Exhaust Gas Heat Exchanger and EcoMi modular economizer that changes the waste heat that is generated by the power plants and industrial facilities into useful forms of energy, enhancing the efficiency and decreasing emissions.
  • In 2019, Alfa Laval launched a new portfolio of gas-to-liquid plate heat exchangers to meet the demands of the gas cooling duties. These gas-to-liquid heat exchangers provide much-enhanced efficiency and have a footprint of about 75% smaller than shell-and-tubes that are used in the same applications.

The global heat exchangers market has been segmented on the basis of type, end-use industry, and region. Based on the type, the market is segmented plate & frame heat exchangers, shell & tube heat exchangers, air cooled heat exchangers, and others. Based on the end-use industry, the market is segmented into energy, chemicals, food & beverages, HVAC & refrigeration, pulp & paper, power generation, and others.

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Key questions answered in this research report:

• • At what pace is the global heat exchangers market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global heat exchangers market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global heat exchangers market?
  • Which type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
  • What are the various end-use industries of the heat exchangers market, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Heat Exchangers Market by Type

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

Global Heat Exchangers Market by End-Use Industry

• • Energy
  • Chemicals
  • Food & Beverages
  • HVAC & Refrigeration
  • Pulp & Paper
  • Power Generation
  • Others

Global Heat Exchangers Market by Region

• • North America Heat Exchangers Market (Option 1: As a part of the free 25% customization)
    • North America Market by Type
    • North America Market by End-Use Industry
    • US Market All-Up
    • Canada Market All-Up
  • Europe Heat Exchangers Market (Option 2: As a part of the free 25% Customization)
    • Europe Market by Type
    • Europe Market by End-Use Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Heat Exchangers Market (Option 3: As a part of the free 25% Customization)
    • Asia-Pacific Market by Type
    • Asia-Pacific Market by End-Use Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Heat Exchangers Market (Option 4: As a part of the free 25% Customization)
    • RoW Market by Type
    • RoW Market by End-Use Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Heat Exchangers Leading Market Players (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Kelvion Holding GmbH
  • Alfa Laval
  • Xylem
  • Danfoss
  • Chart Industries
  • API Heat Transfer
  • Hindustan Dorr-Oliver Ltd.
  • Guntner GmbH & Co. KG
  • Johnson Controls
  • Hisaka Works Ltd.