Heat Exchanger Market Analysis
The global heat exchanger industry is witnessing steady growth and is expected to grow at a CAGR of approximately 9.5% over the forecast period of 2017-2023, reveals Market Research Future (MRFR) in a minutely analyzed research report.
Heat exchangers are devices used to transfer heat energy from one fluid to another. Heat exchangers find widespread use in power generation, chemical processing, electronics cooling, air-conditioning, refrigeration, and automotive applications. Heat exchangers used in abundantly in chemical and process industries. It is also used in automobiles in the form of radiators and oil coolers. It is most preferred and widely accepted equipment due to its green and energy-efficient properties. The focus of various regulatory bodies to reduce the amount of greenhouse gases for meeting the future sustainability is further driving the market for heat exchangers.
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The report has analyzed the market based on the three segments: Type, application and end-use in the regions of North America, Europe, APAC and Rest of the World.
On the basis of Type it includes Shell and Tube Heat Exchanger, Plate Heat Exchanger, Regenerative Heat Exchanger, Air cooled. Shell and Tube Heat Exchanger largest type market for heat exchanger and most common types of heat exchangers used globally. It is extensively used as power condensers, preheaters, oil coolers, and steam generators.
On the basis of application it includes Chemicals, Oil & Gas, Power generation, HVACR, Food & Beverages and Other. Chemical industry is the largest application for heat exchanger market. In Chemical industry it is used for heating and cooling of base, intermediate, and final products. With growing demand for chemicals in the developing economies, the market of heat exchangers is further expected to rise in in the forecast period.
Europe is the largest market for plate & frame heat exchangers. The region has huge installed plant capacities of plate & frame heat exchangers and is an export based plate & frame heat exchangers market. Due to stringent environmental regulations and increasing industrialization, the use of plate & frame heat exchangers in various end-user industries is gaining popularity. Increased investment in the chemical, petrochemical, food & beverages and HVACR industries and stringent environmental regulations are the major drivers triggering the growth of plate & frame heat exchangers market. Moreover, the stringency in the emission norms levied by the European Commission has brought about a lot of reforms in the manufacturing of automotive components. So, the demand for automotive light weight material has made the heat exchanger manufacturers to focus on energy-efficient and lighter materials in the manufacturing of heat exchangers.
We recognize the key players in the global heat exchanger market as Alfa Laval AB (Sweden), Kelvion Holdings Gmbh (Germany), Southern Heat Exchanger (U.S.) Danfoss A/S (Denmark), SPX Corporation (U.S.), Xylem Inc. (U.S.), API Heat Transfer Inc. (U.S), Gunter AG & Co. KG (Germany), Sierra S.p.A (Italy), and Hamon & Cie International SA (Belgium).
Scope of the Report
This research report has provides the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the global Heat Exchanger market, including the high-growth regions, countries and their political, economic and technological environments. Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.
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