Table of Content

1 INTRODUCTION 14
1.1 OBJECTIVES OF THE STUDY 14
1.2 MARKET DEFINITION 14
1.3 MARKET SCOPE 15
1.3.1 MARKET SEGMENTATION 15
1.3.2 REGIONS COVERED 15
1.3.3 YEARS CONSIDERED FOR THE STUDY 16
1.4 CURRENCY 16
1.5 STAKEHOLDERS 16

2 RESEARCH METHODOLOGY 17
2.1 RESEARCH DATA 17
2.1.1 SECONDARY DATA 18
2.1.1.1 Key data from secondary sources 18
2.1.2 PRIMARY DATA 19
2.1.2.1 Key data from primary sources 19
2.1.2.2 Key industry insights 19
2.1.2.3 Breakdown of primary interviews 20
2.2 MARKET SIZE ESTIMATION 20
2.2.1 BOTTOM-UP APPROACH 21
2.2.2 TOP-DOWN APPROACH 21
2.3 DATA TRIANGULATION 22
2.3.1 BPHES MARKET ANALYSIS THROUGH PRIMARY INTERVIEWS 23
2.4 LIMITATIONS 24
2.5 ASSUMPTIONS 25

3 EXECUTIVE SUMMARY 26

4 PREMIUM INSIGHTS 28
4.1 ATTRACTIVE OPPORTUNITIES IN THE BPHES MARKET 28
4.2 BPHES MARKET, BY END-USE INDUSTRY 28
4.3 BPHES MARKET, BY REGION 29
4.4 APAC BPHES MARKET, BY END-USE INDUSTRY AND COUNTRY 29

5 MARKET OVERVIEW 30
5.1 INTRODUCTION 30
5.2 MARKET DYNAMICS 30
5.2.1 DRIVERS 30
5.2.1.1 Growth of global construction sector and increasing use of
HVACR systems in the sector 30
5.2.1.2 Technological developments 31
5.2.2 RESTRAINTS 31
5.2.2.1 BPHEs are not demountable 31
5.2.3 OPPORTUNITIES 31
5.2.3.1 Rapid industrialization in emerging economies 31
5.3 PORTER’S FIVE FORCES ANALYSIS 32
5.3.1 BARGAINING POWER OF BUYERS 32
5.3.2 BARGAINING POWER OF SUPPLIERS 33
5.3.3 THREAT OF NEW ENTRANTS 33
5.3.4 THREAT OF SUBSTITUTES 33
5.3.5 INTENSITY OF COMPETITIVE RIVALRY 33

6 BPHES MARKET, BY APPLICATION 34
6.1 INTRODUCTION 34
6.2 EVAPORATOR 34
6.3 CONDENSER 34
6.4 ECONOMIZER 34

7 BPHES MARKET, BY END-USE INDUSTRY 35
7.1 INTRODUCTION 36
7.2 HVACR 37
7.2.1 INCREASE IN CONSTRUCTION ACTIVITIES DRIVING THE DEMAND FOR
BPHES IN HVACR INDUSTRY 37
7.3 CHEMICAL 39
7.3.1 INCREASING DEMAND FOR CHEMICALS EXPECTED TO DRIVE THE
DEMAND FOR BPHES 39
7.4 FOOD & BEVERAGE 41
7.4.1 GROWING POPULATION EXPECTED TO DRIVE THE FOOD
& BEVERAGE INDUSTRY 41
7.5 POWER 43
7.5.1 NEED FOR EFFICIENT COOLING DURING POWER GENERATION PROCESS
TO FUEL DEMAND FOR BPHES 43
7.6 HEAVY INDUSTRIES 45
7.6.1 INCREASED PRODUCTION EFFICIENCY AND MAXIMIZED HEAT
RECOVERY TO FUEL THE BPHES DEMAND 45
7.7 OTHERS 47

8 BPHES MARKET, BY REGION 49
8.1 INTRODUCTION 50
8.2 APAC 51
8.2.1 CHINA 53
8.2.1.1 Presence of large construction, chemical, and food & beverage sectors fueling consumption of BPHEs 53
8.2.2 INDIA 53
8.2.2.1 India is fastest-growing market for BPHEs, globally 53
8.2.3 JAPAN 54
8.2.3.1 Growth of construction, pharmaceutical, and food & beverage industries is driving the market 54
8.2.4 SOUTH KOREA 55
8.2.4.1 Economic growth of the country driving the market 55
8.2.5 REST OF APAC 55
8.3 NORTH AMERICA 56
8.3.1 US 57
8.3.1.1 Rise in infrastructure development activities boosting the market 57
8.3.2 CANADA 58
8.3.2.1 Recovery of the country’s economy favorable for market growth 58
8.3.3 MEXICO 59
8.3.3.1 Growing industrial sector turning Mexico into a lucrative
market for BPHEs 59
8.4 EUROPE 60
8.4.1 GERMANY 62
8.4.1.1 Presence of strong industrial base driving the BPHEs market in Germany 62
8.4.2 FRANCE 62
8.4.2.1 Development in chemical and pharmaceutical sectors likely
to propel the use of BPHEs 62
8.4.3 ITALY 63
8.4.3.1 Construction industry to fuel the Italian BPHEs market 63
8.4.4 RUSSIA 64
8.4.4.1 Recovery of the economy is triggering growth of various industries 64
8.4.5 UK 64
8.4.5.1 Chemical and pharmaceutical industries are the major
contributors to the country’s economy 64
8.4.6 TURKEY 65
8.4.6.1 Turkey to register the fastest growth rate during the forecast period 65
8.4.7 SPAIN 66
8.4.7.1 Government investing to facilitate growth of various
manufacturing industries 66
8.4.8 REST OF EUROPE 66
8.5 MIDDLE EAST & AFRICA 67
8.5.1 SAUDI ARABIA 68
8.5.1.1 Increasing investments in infrastructure expected to spur the
demand for BPHEs 68
8.5.2 SOUTH AFRICA 69
8.5.2.1 Increasing foreign investment in various industries supporting the market growth 69
8.5.3 REST OF MIDDLE EAST & AFRICA 70
8.6 SOUTH AMERICA 70
8.6.1 BRAZIL 71
8.6.1.1 Brazil emerging as a lucrative market for BPHEs with
growing industrial sector 71
8.6.2 ARGENTINA 72
8.6.2.1 Recovering economy of the country is expected to help
the market growth 72
8.6.3 REST OF SOUTH AMERICA 73

9 COMPETITIVE LANDSCAPE 74
9.1 OVERVIEW 74
9.2 COMPETITIVE LEADERSHIP MAPPING, 2018 75
9.2.1 VISIONARY LEADERS 75
9.2.2 INNOVATORS 75
9.2.3 DYNAMIC DIFFERENTIATORS 75
9.2.4 EMERGING PLAYERS 75
9.2.5 STRENGTH OF PRODUCT PORTFOLIO 77
9.2.6 BUSINESS STRATEGY EXCELLENCE 78
9.3 RANKING OF KEY PLAYERS 79
9.4 COMPETITIVE SCENARIO 80
9.4.1 NEW PRODUCT LAUNCH 80
9.4.2 ACQUISITION 81
9.4.3 EXPANSION 81

10 COMPANY PROFILES 82
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, Current focus and strategies, Threat from competition)*
10.1 ALFA LAVAL 82
10.2 KELVION 85
10.3 SWEP 87
10.4 DANFOSS 89
10.5 XYLEM 91
10.6 API HEAT TRANSFER 93
10.7 CHART INDUSTRIES 94
10.8 HISAKA WORKS 95
10.9 KAORI 96
10.10 PAUL MUELLER COMPANY 97
10.11 OTHER COMPANIES 98
10.11.1 BAODE HEAT EXCHANGER 98
10.11.2 BARRIQUAND GROUP 98
10.11.3 BOYD CORPORATION 98
10.11.4 DIVERSIFIED HEAT TRANSFER 98
10.11.5 FUNKE 98
10.11.6 HRS HEAT EXCHANGERS 98
10.11.7 HYDAC 99
10.11.8 ONDA 99
10.11.9 SECESPOL 99
10.11.10 WEIL-MCLAIN 99
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, Current focus and strategies, Threat from competition might not be captured in case of unlisted companies.

11 APPENDIX 100
11.1 DISCUSSION GUIDE 100
11.2 KNOWLEDGE STORE: 103
11.3 AVAILABLE CUSTOMIZATIONS 105
11.4 RELATED REPORTS 105
11.5 AUTHOR DETAILS 106



List of Figures



FIGURE 1 BPHES MARKET: RESEARCH DESIGN 17
FIGURE 2 BPHES MARKET: BOTTOM-UP APPROACH 21
FIGURE 3 BPHES MARKET: TOP-DOWN APPROACH 21
FIGURE 4 BPHES MARKET: DATA TRIANGULATION 22
FIGURE 5 BPHES MARKET ANALYSIS THROUGH SECONDARY SOURCES 23
FIGURE 6 BASE NUMBER CALCULATION 24
FIGURE 7 HVACR TO BE FASTEST-GROWING END-USE INDUSTRY OF BPHES MARKET 26
FIGURE 8 APAC BPHES MARKET TO WITNESS THE HIGHEST GROWTH RATE 27
FIGURE 9 EMERGING COUNTRIES WITNESSING HIGH GROWTH IN DEMAND FOR BPHES 28
FIGURE 10 HVACR IS PROJECTED TO BE THE FASTEST-GROWING END-USE INDUSTRY 28
FIGURE 11 INDIA TO REGISTER THE HIGHEST CAGR DURING THE FORECAST PERIOD 29
FIGURE 12 CHINA ACCOUNTED FOR THE LARGEST MARKET SHARE IN 2018 29
FIGURE 13 DRIVERS, RESTRAINTS, AND OPPORTUNITIES IN THE BPHES MARKET 30
FIGURE 14 BPHES MARKET: PORTER’S FIVE FORCES ANALYSIS 32
FIGURE 15 HVACR TO BE THE LEADING END-USE INDUSTRY OF BPHES 36
FIGURE 16 APAC TO BE THE FASTEST-GROWING MARKET DURING FORECAST PERIOD 50
FIGURE 17 BPHES MARKET IN INDIA TO WITNESS THE HIGHEST CAGR 50
FIGURE 18 APAC: BPHES MARKET SNAPSHOT 51
FIGURE 19 NORTH AMERICA: BPHES MARKET SNAPSHOT 56
FIGURE 20 EUROPE: BPHES MARKET SNAPSHOT 60
FIGURE 21 COMPANIES ADOPTED NEW PRODUCT LAUNCH AS THE KEY GROWTH
STRATEGY BETWEEN 2016 AND 2020 74
FIGURE 22 BPHES MARKET: COMPETITIVE LEADERSHIP MAPPING, 2018 76
FIGURE 23 ALFA LAVAL LED THE MARKET IN 2018 79
FIGURE 24 ALFA LAVAL: COMPANY SNAPSHOT 82
FIGURE 25 ALFA LAVAL: SWOT ANALYSIS 83
FIGURE 26 KELVION: SWOT ANALYSIS 86
FIGURE 27 SWEP: SWOT ANALYSIS 88
FIGURE 28 DANFOSS: COMPANY SNAPSHOT 89
FIGURE 29 DANFOSS: SWOT ANALYSIS 90
FIGURE 30 XYLEM: COMPANY SNAPSHOT 91
FIGURE 31 XYLEM: SWOT ANALYSIS 92
FIGURE 32 CHART INDUSTRIES: COMPANY SNAPSHOT 94
FIGURE 33 HISAKA WORKS: COMPANY SNAPSHOT 95
FIGURE 34 MUELLER: COMPANY SNAPSHOT 97

 

List of Tables



TABLE 1 BPHES MARKET SIZE, BY END-USE INDUSTRY, 2017–2024 (USD MILLION) 36
TABLE 2 BPHES MARKET SIZE IN HVACR, BY REGION, 2017–2024 (USD THOUSAND) 37
TABLE 3 APAC: BPHES MARKET SIZE IN HVACR, 2017–2024 (USD THOUSAND) 37
TABLE 4 EUROPE: BPHES MARKET SIZE IN HVACR, 2017–2024 (USD THOUSAND) 38
TABLE 5 NORTH AMERICA: BPHES MARKET SIZE IN HVACR, 2017–2024 (USD THOUSAND) 38
TABLE 6 MIDDLE EAST & AFRICA: BPHES MARKET SIZE IN HVACR 2017–2024 (USD THOUSAND) 38
TABLE 7 SOUTH AMERICA: BPHES MARKET SIZE IN HVACR, 2017–2024 (USD THOUSAND) 38
TABLE 8 BPHES MARKET SIZE IN CHEMICAL, BY REGION, 2017–2024 (USD THOUSAND) 39
TABLE 9 APAC: BPHES MARKET SIZE IN CHEMICAL, 2017–2024 (USD THOUSAND) 39
TABLE 10 EUROPE: BPHES MARKET SIZE IN CHEMICAL, 2017–2024 (USD THOUSAND) 40
TABLE 11 NORTH AMERICA: BPHES MARKET SIZE IN CHEMICAL 2017–2024 (USD THOUSAND) 40
TABLE 12 MIDDLE EAST & AFRICA: BPHES MARKET SIZE IN CHEMICAL 2017–2024 (USD THOUSAND) 40
TABLE 13 SOUTH AMERICA: BPHES MARKET SIZE IN CHEMICAL 2017–2024 (USD THOUSAND) 40
TABLE 14 BPHES MARKET SIZE IN FOOD & BEVERAGE, BY REGION 2017–2024 (USD THOUSAND) 41
TABLE 15 APAC: BPHES MARKET SIZE IN FOOD & BEVERAGE, 2017–2024 (USD THOUSAND) 41
TABLE 16 EUROPE: BPHES MARKET SIZE IN FOOD & BEVERAGE 2017–2024 (USD THOUSAND) 42
TABLE 17 NORTH AMERICA: BPHES MARKET SIZE IN FOOD & BEVERAGE 2017–2024 (USD THOUSAND) 42
TABLE 18 MIDDLE EAST & AFRICA: BPHES MARKET SIZE IN FOOD & BEVERAGE 2017–2024 (USD THOUSAND) 42
TABLE 19 SOUTH AMERICA: BPHES MARKET SIZE IN FOOD & BEVERAGE 2017–2024 (USD THOUSAND) 42
TABLE 20 BPHES MARKET SIZE IN POWER, BY REGION, 2017–2024 (USD THOUSAND) 43
TABLE 21 APAC: BPHES MARKET SIZE IN POWER, 2017–2024 (USD THOUSAND) 43
TABLE 22 EUROPE: BPHES MARKET SIZE IN POWER, 2017–2024 (USD THOUSAND) 44
TABLE 23 NORTH AMERICA: BPHES MARKET SIZE IN POWER, 2017–2024 (USD THOUSAND) 44
TABLE 24 MIDDLE EAST & AFRICA: BPHES MARKET SIZE IN POWER 2017–2024 (USD THOUSAND) 44
TABLE 25 SOUTH AMERICA: BPHES MARKET SIZE IN POWER, 2017–2024 (USD THOUSAND) 44
TABLE 26 BPHES MARKET SIZE IN HEAVY INDUSTRIES, BY REGION 2017–2024 (USD THOUSAND) 45
TABLE 27 APAC: BPHES MARKET SIZE IN HEAVY INDUSTRIES, 2017–2024 (USD THOUSAND) 45
TABLE 28 EUROPE: BPHES MARKET SIZE IN HEAVY INDUSTRIES 2017–2024 (USD THOUSAND) 46
TABLE 29 NORTH AMERICA: BPHES MARKET SIZE IN HEAVY INDUSTRIES 2017–2024 (USD THOUSAND) 46
TABLE 30 MIDDLE EAST & AFRICA: BPHES MARKET SIZE IN HEAVY INDUSTRIES 2017–2024 (USD THOUSAND) 46
TABLE 31 SOUTH AMERICA: BPHES MARKET SIZE IN HEAVY INDUSTRIES 2017–2024 (USD THOUSAND) 46
TABLE 32 BPHES MARKET SIZE IN OTHER INDUSTRIES, BY REGION 2017–2024 (USD THOUSAND) 47
TABLE 33 APAC: BPHES MARKET SIZE IN OTHER INDUSTRIES, 2017–2024 (USD THOUSAND) 47
TABLE 34 EUROPE: BPHES MARKET SIZE IN OTHER INDUSTRIES 2017–2024 (USD THOUSAND) 48
TABLE 35 NORTH AMERICA: BPHES MARKET SIZE IN OTHER INDUSTRIES 2017–2024 (USD THOUSAND) 48
TABLE 36 MIDDLE EAST & AFRICA: BPHES MARKET SIZE IN OTHER INDUSTRIES 2017–2024 (USD THOUSAND) 48
TABLE 37 SOUTH AMERICA: BPHES MARKET SIZE IN OTHER INDUSTRIES 2017–2024 (USD THOUSAND) 48
TABLE 38 BPHES MARKET SIZE, BY REGION, 2017–2024 (USD MILLION) 51
TABLE 39 APAC: BPHES MARKET SIZE, BY COUNTRY, 2017–2024 (USD THOUSAND) 52
TABLE 40 APAC: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 52
TABLE 41 CHINA: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 53
TABLE 42 INDIA: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 54
TABLE 43 JAPAN: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 54
TABLE 44 SOUTH KOREA: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 55
TABLE 45 REST OF APAC: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 56
TABLE 46 NORTH AMERICA: BPHES MARKET SIZE, BY COUNTRY 2017–2024 (USD THOUSAND) 57
TABLE 47 NORTH AMERICA: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 57
TABLE 48 US: BPHES MARKET SIZE, BY END-USE INDUSTRY, 2017–2024 (USD THOUSAND) 58
TABLE 49 CANADA: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 59
TABLE 50 MEXICO: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 59
TABLE 51 EUROPE: BPHES MARKET SIZE, BY COUNTRY, 2017–2024 (USD THOUSAND) 61
TABLE 52 EUROPE: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 61
TABLE 53 GERMANY: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 62
TABLE 54 FRANCE: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 63
TABLE 55 ITALY: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 63
TABLE 56 RUSSIA: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 64
TABLE 57 UK: BPHES MARKET SIZE, BY END-USE INDUSTRY, 2017–2024 (USD THOUSAND) 65
TABLE 58 TURKEY: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 65
TABLE 59 SPAIN: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 66
TABLE 60 REST OF EUROPE: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 67
TABLE 61 MIDDLE EAST & AFRICA: BPHES MARKET SIZE, BY COUNTRY 2017–2024 (USD THOUSAND) 67
TABLE 62 MIDDLE EAST & AFRICA: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 68
TABLE 63 SAUDI ARABIA: BPHES MARKET SIZE, END-USE INDUSTRY 2017–2024 (USD THOUSAND) 69
TABLE 64 SOUTH AFRICA: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 69
TABLE 65 REST OF MIDDLE EAST & AFRICA: BPHES MARKET SIZE, BY END-USE INDUSTRY, 2017–2024 (USD THOUSAND) 70
TABLE 66 SOUTH AMERICA: BPHES MARKET SIZE, BY COUNTRY 2017–2024 (USD THOUSAND) 70
TABLE 67 SOUTH AMERICA: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 71
TABLE 68 BRAZIL: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 72
TABLE 69 ARGENTINA: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 72
TABLE 70 REST OF SOUTH AMERICA: BPHES MARKET SIZE, BY END-USE INDUSTRY 2017–2024 (USD THOUSAND) 73
TABLE 71 NEW PRODUCT LAUNCH, 2016–2020 80
TABLE 72 ACQUISITION, 2016–2020 81
TABLE 73 EXPANSION, 2016–2020 81