Heat Exchanger Market Comprehensive Research Study, Size, Share Analysis, Trend, Opportunity Assessment Business Developments and Industry Statistics by 2023
Market Research Future published a Research report on “Global Heat Exchanger Market Research Report – Forecast to 2023. Advances in the heat exchanger related technology and increase in HVACR process equipment is a key driving force behind this growth of the market.
Pune, India – September 27, 2019 /MarketersMedia/ —
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. Rapid industrialization across the globe, especially in developing countries is one of the prime factors augmenting the growth of the global heat exchangers market. Heat exchangers find extensive application in industries such as chemical and petrochemical.
The market is increasing steadily over the past few years and is expected to gain further prominence over the next few years. Increase in population and economic growth in the developing nations are impacting the market conditions, positively. Moreover, augmented demand for heat exchangers owing to power requirement for commercial and non-commercial purposes is escalating the market on the global platform.
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The heat exchanger market is progressing briskly; mainly due to the diverse application areas in industries ranging from swimming pools to maintain the water temperatures to sugar factories and distilleries. Other remarkable applications of heat exchangers include Chemical Factories and Heating Ventilation Air Conditioning and Refrigeration (HVACR) sector.
Recent trends in the market show that they have a direct impact on the dynamics of the industry, such as the development of waste heat recovery heat exchangers and the introduction of exhaust gas recirculation coolers. Also, the extensive power consumption across sectors is contributing to market expansion, hugely.
Technological advancements in heat exchangers have impacted the market growth positively. Improvements in technology and innovations in designs and efficiency are expected to open up new avenues for the growth of the global heat exchangers market. However, the market might be constrained by volatile raw material prices and the high cost of production.
Segmental Analysis
For a better understanding, the Heat Exchanger Market report has been segmented into three key dynamics:
By Type: Shell and Tube Heat Exchanger, Regenerative Heat Exchanger, Plate Heat Exchanger, and Air cooled, among others.
By Application: Oil & Gas, Chemicals, Power Generation, HVACR, and Food & Beverages, among others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Competitive Landscape
The global heat exchanger market is led by some prominent players including Xylem Inc. (U.S.), API Heat Transfer Inc. (U.S), Southern Heat Exchanger (U.S.), Gunter AG & Co. KG (Germany), Hamon & Cie International SA (Belgium), Hughes Anderson Heat Exchangers (U.S.), Kelvion Holdings Gmbh (Germany), Koch Heat Transfer Company (U.S.), Danfoss A/S (Denmark), Alfa Laval AB (Sweden), SPX Corporation (U.S.), and Sierra S.p.A (Italy).
Regional Analysis
North America, Europe, Asia Pacific, and the Middle East & Africa are the key markets for heat exchanger.
Europe is the largest market for heat exchanger due to augmented demand from the region due to cold weather condition. Moreover, the region is leading in terms of production of plate & frame heat exchangers in regions such as Germany, UK, and France. Also, the region is home to major heat exchanger manufacturers such as Kelvion Holdings Gmbh, Gunter AG & Co. KG and others which provides an added advantage to Europe.
Asia Pacific market is expected to witness maximum growth over the forecast period. Rapid industrialization in countries such as China, India, Japan, Indonesia, and Australia initiate the high demand for heat exchangers.
The Middle East & Africa market generates substantial demand for heat exchangers owing to growing application in oil refineries.
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List Of Tables
Table 1 Global Heat Exchanger Market: By Region, 2018-2023
Table 2 North America Heat Exchanger Market: By Country, 2018-2023
Table 3 Europe Heat Exchanger Market: By Country, 2018-2023
Table 4 Asia-Pacific Heat Exchanger Market: By Country, 2018-2023
Table 5 Rest Of The World Heat Exchanger Market: By Country, 2018-2023
Table 6 Global Heat Exchanger Market By Type: By Regions, 2018-2023
Table 7 North America Heat Exchanger Market By Type: By Country, 2018-2023
Table 8 Europe Heat Exchanger Market By Type: By Country, 2018-2023
Continued…….
List Of Figures
Figure 1 Research Process Of MRFR
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Supply Chain Analysis
Figure 8 Global Heat Exchanger Market Share, By Type, 2016 (%)
Continued……
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