Heat Exchangers Market
Global Heat Exchangers Market Size, Share & Trends Analysis Report by Type (Shell & Tube, Plate & Frame, Air-Cooled, and Others (Finned Coil, Adiabatic Wheel)) By End-user (Chemical, HVACR, Food & Beverages, Power Generation, Automobile, Pharmaceutical, and Other) Forecast Period (2021-2027) Update Available - Forecast 2024-2030
The global heat exchangers market is anticipated to grow at a significant CAGR of 7.1% during the forecast period. The primary factor driving the market growth is rise in demand for heat exchangers in end-user industries such as chemical, food & beverages, automobile, and others. Heat exchangers are required in manufacturing process of chemicals which includes condensation of solvents, benzene heat recovery, cooling of watercircuits, cooling of hydrocarbons, heating and cooling of intermediate products & reactors and others. The government also emphasize on the development of chemical industry which will eventually lead to growth in heat exchanger market. For instance, in March 2021, Union minister of chemicals and fetlizers in India indicated that chemical and petrochemical industry is growing to new heights in India and an investment of $133 billion is expected in this sector by 2025. The governmemt has launched 12 PLI scheme for various sectors which will benefit the chemical sector directly or indirectly.
Impact of COVID-19 Pandemic on Global Heat Exchangers Market
The COVID-19 pandemic has impacted to almost every country on the gloabe. Various sectors were forced to shut down their operations due to strict loackdown. COVID-19 has adversely affected heat exchangers market. Owing to ceased manufacturing caused by lockdown restrictions, limited avaiablity of labour force, and variations in raw material prices, heat exchanger producers faced unexpected challenges. However, various governments globally are expected to help the countries to support the weakening economy and lead to economic revovey post COVID-19 pandemic.
Segmental Outlook
The global heat exchangers market is segmented based on the type and end-user. Based on the type, the market is segmented into shell & tube, plate & frame, air-cooled, and others (finned coil, adiabatic wheel). Based on the end-user, the market is sub-segmented into the chemical, HVACR, food & beverages, power generation, automobile, pharmaceutical, and other (pulp & paper). Out of types segment, the shell & tube segment is expected to dominate the market due to rise in demand in various end-use industries.
Global Heat Exchangers Market Share by Type, 2020 (%)
The Shell & Tube Segment Holds the Major Share in the Global Heat Exchangers Market
The shell and tube heat exchangers are the most preferential in maximum applications in end-user verticals. The main factors that have driven acceptance of shell & tube heat exchangers are thieroperational features such as ability to operate at higher temperatures, easy pressure tests, which assist in locating faults, good resistance to thermal shocks, and less pressure drops as compared to other types of heat exhangers. Due to its wide application in different sectors, manufactures are focusing on innovation for this type of heat exchangers. For instance, in April 2019 AMETEK Fluoropolymer Products (FPP) introduced the XXP280 heat exchanger for acidic and ultra-pure chemicals which is the modern technology in heating and cooling. The risky conditions where other devices fail, the XXP280’s sharp design, fully constructed with fluoropolymers allows the precise heat control. Due to enhanced heat control in newly introduced heat exchangers demand is likely to increase in this segment.
Regional Outlooks
The global Heat Exchangers market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). Asia-Pacific has dominated the heat exchanger market in the past and is likely to dominate the market during the forecast period as well, because of the several power projects under construction.
Global Heat Exchangers Market Growth, by Region 2021-2027
The Europe Region is Projected to Show Notable Growth in the Global Heat Exchangers Market
The Europe region is expected to hold prominent share in global heat exchangers market due to established manufacturing, automotive and industrial sectors. Further Europe implemented zero emission guidelines for commercial and residential buildings. Due to increased energy efficiency standards that focus on reduced carbon-intensive activities, the demand for heat exchangers is anticipated to grow in that region. Further, in April 2021, a company in Europe named Alfa Laval partnered with Stena Recycling to launch sustainable and environmentally efficient recycling of heat exchangers. This is an step towards Alfa Laval’s commitment to become carbon neutral by 2030.
Market Players Outlook
The major companies serving the global heat exchangers market include ALFA LAVAL, API Heat Transfer, BoilerMaster Pte Ltd., Boyd Corp., Danfoss, Enerquip, Exchanger Industries Limited, Heat Exchanger Services LLC, H. Güntner, HISAKA WORKS, LTD, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2021, Danfoss expanded its microchannel heat exchangers range, by introduncing new optimized microchannel heat exchangers for use with low density, low-GWP refrigerants like R1234ze and R515B. The new optimized microchannel heat exchangers (MCHEs) offer the perfect balance between maximum heat resistance and internal refrigerant pressure drip.
The Report Covers
• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global heat exchangers market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global HEAT EXCHANGERS Market
• Recovery Scenario of Global HEAT EXCHANGERS Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. ALFA LAVAL
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Danfoss Co.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Exchanger Industries Ltd.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Kelvion Holding GmbH
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. API Heat Transfer
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Key Strategy Analysis
3.7. Impact of Covid-19 on Key Players
4. Market Segmentation
4.1. Global Heat Exchangers Market by Type
4.1.1. Shell & Tube
4.1.2. Plate & Frame
4.1.3. Air-Cooled
4.1.4. Others (Finned Coil, Adiabatic Wheel)
4.2. Global Heat ExchangersMarket by End-user
4.2.1. Chemical
4.2.2. HVACR
4.2.3. Food & Beverages
4.2.4. Power Generation
4.2.5. Automobile
4.2.6. Pharmaceutical
4.2.7. Other (Pulp & Paper)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. BoilerMaster Pte Ltd.
6.2. Boyd Corp.
6.3. Enerquip L
6.4. H. Güntner UK Ltd.
6.5. Hisaka Works, Ltd
6.6. HRS Process Systems Ltd.
6.7. Johnson Controls.
6.8. Mason Manufacturing LLC,
6.9. Royal Hydraulics, Inc.
6.10. SPX FLOW, Inc.
6.11. ThermaFlo Inc.
6.12. Tranter
6.13. Xylem Inc.
1. GLOBAL HEAT EXCHANGERS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
2. GLOBAL SHELL & TUBE HEAT EXCHANGERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
3. GLOBAL PLATE & FRAME EAT EXCHANGERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL AIR-COOLED HEAT EXCHANGERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
5. GLOBAL OTHER HEAT EXCHANGERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
6. GLOBAL HEAT EXCHANGERS MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
7. GLOBAL HEAT EXCHANGERS IN CHEMICAL MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
8. GLOBAL HEAT EXCHANGERS IN HVACR MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
9. GLOBAL HEAT EXCHANGERS IN FOOD & BEVERAGES MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
10. GLOBAL HEAT EXCHANGERS IN POWER GENERATION MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
11. GLOBAL HEAT EXCHANGERS IN AUTOMOBILE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
12. GLOBAL HEAT EXCHANGERS IN PHARMACEUTICAL MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
13. GLOBAL HEAT EXCHANGERS IN OTHER END-USER MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
14. GLOBAL HEAT EXCHANGERS MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2020-2027 ($ MILLION)
15. NORTH AMERICAN HEAT EXCHANGERS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
16. NORTH AMERICAN HEAT EXCHANGERS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
17. NORTH AMERICAN HEAT EXCHANGERS MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
18. EUROPEAN HEAT EXCHANGERS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
19. EUROPEAN HEAT EXCHANGERS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
20. EUROPEAN HEAT EXCHANGERS MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
21. ASIA-PACIFIC HEAT EXCHANGERS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
22. ASIA-PACIFIC HEAT EXCHANGERS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
23. ASIA-PACIFIC HEAT EXCHANGERS MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
24. REST OF THE WORLD HEAT EXCHANGERS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
25. REST OF THE WORLD HEAT EXCHANGERS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
26. REST OF THE WORLD HEAT EXCHANGERS MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL HEAT EXCHANGERS MARKET, 2020-2027 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL HEAT EXCHANGERS MARKET BY SEGMENT, 2020-2027 ($ MILLION)
3. RECOVERY OF GLOBAL HEAT EXCHANGERS MARKET, 2021-2027 (%)
4. GLOBAL HEAT EXCHANGERS MARKET SHARE BY TYPE, 2020 VS 2027 (%)
6. GLOBAL SHELL & TUBE HEAT EXCHANGERS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
7. GLOBAL PLATE & FRAME EAT EXCHANGERS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
8. GLOBAL AIR-COOLED HEAT EXCHANGERS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
9. GLOBAL OTHER HEAT EXCHANGERS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
10. GLOBAL HEAT EXCHANGERS MARKET SHARE BY END-USER, 2020-2027 ($ MILLION)
11. GLOBAL HEAT EXCHANGERS IN CHEMICAL MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
12. GLOBAL HEAT EXCHANGERS IN HVACR MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
13. GLOBAL HEAT EXCHANGERS IN FOOD & BEVERAGES MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
14. GLOBAL HEAT EXCHANGERS IN POWER GENERATION MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
15. GLOBAL HEAT EXCHANGERS IN AUTOMOBILE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
16. GLOBAL HEAT EXCHANGERS IN PHARMACEUTICAL MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
17. GLOBALHEAT EXCHANGERS INOTHEREND-USER MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
18. GLOBAL HEAT EXCHANGERS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
19. US HEAT EXCHANGERS MARKET SIZE, 2020-2027 ($ MILLION)
20. CANADA HEAT EXCHANGERS MARKET SIZE, 2020-2027 ($ MILLION)
21. UK HEAT EXCHANGERS MARKET SIZE, 2020-2027 ($ MILLION)
22. FRANCE HEAT EXCHANGERS MARKET SIZE, 2020-2027 ($ MILLION)
23. GERMANY HEAT EXCHANGERS MARKET SIZE, 2020-2027 ($ MILLION)
24. ITALY HEAT EXCHANGERS MARKET SIZE, 2020-2027 ($ MILLION)
25. SPAIN HEAT EXCHANGERS MARKET SIZE, 2020-2027 ($ MILLION)
26. REST OF EUROPE HEAT EXCHANGERS MARKET SIZE, 2020-2027 ($ MILLION)
27. INDIA HEAT EXCHANGERS MARKET SIZE, 2020-2027 ($ MILLION)
28. CHINA HEAT EXCHANGERS MARKET SIZE, 2020-2027 ($ MILLION)
29. JAPAN HEAT EXCHANGERS MARKET SIZE, 2020-2027 ($ MILLION)
30. SOUTH KOREA HEAT EXCHANGERS MARKET SIZE, 2020-2027 ($ MILLION)
31. REST OF ASIA-PACIFIC HEAT EXCHANGERS MARKET SIZE, 2020-2027 ($ MILLION)
32. REST OF THE WORLD HEAT EXCHANGERS MARKET SIZE, 2020-2027 ($ MILLION)
