Heat Exchanger Market

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Global Heat Exchangers Market is expected to reach USD 26.55 Billion by 2024 from USD 13.93 Billion in 2016 at a CAGR of 8.4%.

Surge in power requirement for commercial and non-commercial purposes, and increase in population and economic growth in the developing nations are of the factors driving the market growth. Technological development in heat exchanger and growth have a impact on the heat exchanger market such as the development of waste heat recovery heat exchangers and the introduction of exhaust gas recirculation coolers. Fluctuating prices of raw material may hamper the growth of the heat exchanger market.

Heat exchangers market based on type has been segmented into shell & tube, air cooled, plate & frame and others. Shell & tube type heat exchanger segment is is most popularly used exchanger.Shell & tube heat heat exchanger offers high surface are with high efficiency and performance. Heat exchangers are widely accepted equipment owing to its eco-friendly and energy-efficient properties.

Chemical, petrochemical and oil & gas, food & beverage, paper & pulp, power generation and others. Chemical segment dominates the heat exchanger market. Heat exchanger in chemical industry is used for heating, cooling , steam generation and heat transfer. Heat exchanger is commonly used in synthesis flow process of various derivative chemical. Chemical segment is followed by oil & gas industry.

Geographically, the heat exchangers market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America is expected to hold largest shares of the market during the forecast period. This is due to the large installed plant capacities of heat exchangers and it is an export-based heat exchangers market.

Scope of the report:

Heat Exchangers Market, by Type:

Shell & Tube
Air Cooled
Plate & frame
Others

Heat Exchangers Market, by Application:

Chemical
HVACR
Petrochemical and Oil & Gas
Food & Beverage
Paper & Pulp
Power Generation
Others

Heat Exchangers Market, by Geography:

North America
Europe
Asia Pacific
Middle East & Africa
Latin America

Key Players Analysed in the Report:

Alfa Laval AB (Sweden)
Danfoss A/S (Denmark)
Kelvion Holdings Gmbh (Germany)
SPX Corporation (US)
API Heat Transfer Inc. (US)
Xylem Inc. (US)
Gunter AG & Co. KG (Germany)
Hindustan Dorr-Oliver Ltd. (India)
Hamon & Cie International SA (Belgium)
Hisaka Works, Ltd. (Japan)

This article is published by Maximize Market Research Company

About Maximize Market Research:

Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.