The global heat exchangers market is anticipated to grow at a considerable CAGR of 7.1% during the forecast period (2021-2027). The key factors driving the heat exchanger market are advancement in technology and steps taken to increase the heat transfer efficiency. Due to rise in demand various market players are expected to invest in technology development and research projects. For instance, in October 2021, a team of researchers from University of Illinois at Urbana- Champaign hired 3D printing to develop a next-generation ultra-compact heat exchanger with performance improvement of up to 2000%. The engineers created their own 3D heat exchanger design program with topology optimization to assist the innovative geometry. The project is intended to enhance existing heat exchanger designs so as to improve heat transmission while reducing part weight, which might have significant results for industries such as energy, electronics and others.
Browse the full report description of "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)" at https://www.omrglobal.com/industry-reports/heat-exchangers-market
Further in September 2021, RMIT University researchers in Australia developed a set of next-generation 3D printing cooling devices that could be the crucial in fixing of hypersonic flight’s biggest problems. The 3D printed catalysts are basically metal heat exchanger covered in synthetic mineral recognized as zeolites. These are easy to print and scale, and jet fuel is being used as a coolant to keep the temperature of their ambiances under control. The researchers consider that the innovation could help to tackle the difficulty of overheating in high temperature applications like hypersonic flight. The efforts given by researcher’s and market players to provide solutions related to heat exchangers are driving the market towards growth.
Market Coverage
• The market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered-
o By Type
o By End-user
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- ALFA LAVAL, API Heat Transfer, Kelvion Holding GmbH, Exchanger Industries Ltd., BoilerMaster Pte Ltd., Boyd Corp., Danfoss Co., Exchanger Industries Ltd, Heat Exchanger Services LLC, H. Güntner, Hisaka Works, Ltd, and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Heat Exchangers Market Report by Segment
By Type
• Shell & Tube
• Plate & Frame
• Air-Cooled
• Others (Finned Coil, Adiabatic Wheel)
By End-user
• Chemical
• HVACR
• Food & Beverages
• Power Generation
• Automobile
• Pharmaceutical
• Other (Pulp & Paper)
Global Heat Exchangers Market Report by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa