As per the latest report published by Variant Market Research, Global Heat Exchanger Market is estimated to reach $25,042 million by 2024; growing at a CAGR of 8.1% from 2016 to 2024. A heat exchanger is a device specially designed to competently exchange or transfer heat from one matter to other. water or oil could be used as a fluid in which heat is going to transfer. Various applications of heat exchanger such as in petrochemical and oil and gas, chemical, power generation provides promising opportunities for the growth of the global heat exchanger market. Emerging trend of the heat exchanger market comprise growth of waste heat recovery heat exchangers. The demand about heat exchangers is projected to arise from development of various end user industries of heat exchangers.
Major factors driving the growth of the global heat exchanger market are high adoption of heat exchangers in various plants such as water treatment, improved manufacturing activities, rising population, and rising oil and gas production. However, instability in prices of raw material may hamper the market growth. Furthermore, growing end user industries would unfold with numerous growth opportunities in the forecasted year.
Major segments of the global heat exchanger market are type, application, material, and geography. On the basis of type, market is segregated into shell and tube, plate & frame, air cooled, printed circuit, and other types. Application segment comprises chemical, petrochemicals and O&G, HVAC & Refrigeration, food and beverages, power generation, and other applications. Further, steel and non-steel are sub segments of material.
Geographically, global heat exchanger market is categorized into North America, Europe, Asia Pacific, Rest of the World (RoW) North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The key market players operating in the market are Larsen & Toubro, Doosan Heavy Industries & Construction, Alfa Laval, Kelvion, FUNKE W?rmeaustauscher Apparatebau, The Japan Steel Works, Thermowave, Dover, Xylem, and SPX FLOW among others.
The key takeaways from the report
- The report will provide detailed analysis of Heat Exchanger Market with respect to major segments such as type, application, and material
- The report will include the qualitative and quantitative analysis with market estimation over 2015 - 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Heat Exchanger Market has been included in the report
- Profile of the key players in the Heat Exchanger Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of Global Heat Exchanger Market
- Shells and Tube
- Plate & Frame
- Air cooled
- Printed Circuit
- Other Types
- Petrochemicals and O&G
- HVAC & Refrigeration
- Food and Beverages
- Power Generation
- Other Applications
- North America
- ·Rest of Europe
- ·Rest of Asia-Pacific
- ·South America
- ·Middle East