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“Growth of global construction sector and increasing demand for HVACR systems are driving the overall BPHEs market.”
The BPHEs market size is expected to grow from USD 799 million in 2019 to USD 1,120 million by 2024, at a CAGR of 7.0%, during the forecast period. The market is driven by various factors, such as increasing demand for HVACR systems from construction industry, technological developments in the BPHEs, along with rapid industrialization in emerging countries. However, BPHEs are not demountable, which is restraining the growth of the market.
“HVACR industry is expected to account for the largest market share during the forecast period.”
BPHEs provide efficient solutions for various applications in HVACR systems. The most common application is heat transfer between the refrigerant and water or brine solution. HVACR systems are used to economize the use of energy in the construction industry. The rapid growth in the global construction industry has a positive impact on the HVACR industry. This drives the use of BPHEs in the HVACR industry.
“APAC is expected to register the highest growth during the forecast period.”
APAC is expected to register the highest growth during the forecast period due to the increasing population and urbanization. The increasing developments in the construction, HVACR, and chemical industries in emerging countries of the region are providing huge growth opportunities for the BPHEs market.
In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the BPHEs market.
- By Company Type - Tier 1: 25%, Tier: 50%, and Tier 3: 25%
- By Designation - D Level: 30%, C Level: 20%, Others: 50%
- By Region – Europe: 30%, APAC: 25%, North America: 20%, South America: 15%, Middle East & Africa: 10%
The BPHEs market comprises major players, such as Alfa Laval (Sweden), Kelvion (Germany), SWEP (Sweden), Danfoss (Denmark), Xylem (US), API Heat Transfer (US), Chart Industries (US), Hisaka Works (Japan), Kaori (Taiwan), Paul Mueller Company (US), Baode Heat Exchanger (China), Barriquand Group (France), Boyd Corporation (US), Diversified Heat Transfer (US), Funke (Germany), HRS Heat Exchangers (UK), HYDAC (Germany), Onda (Italy), Secespol (Poland), and Weil-McLain (US).
The market study covers the BPHEs market and its segments. It aims at estimating the market size and the growth potential of this market on the basis of application, end-use industry, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall BPHEs market and the subsegments. The stakeholders will be able to understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. It will also help stakeholders comprehend the pulse of the market and provide them with information on key market drivers, restraints, and opportunities.