Heat Exchangers Market Report 2020 Size, Growing Demand, Trends, Key Players, Distribution, Business Developments, Technologies, Challenges, Key Industry Opportunities & Forecast 2025
The global heat exchanger market is projected to surpass USD 26 billion by 2025, driven by its huge demand in various end-use industries.
Dallas , USA – March 31, 2021 /MarketersMedia/ —
The global heat exchanger market is expected to surpass USD 26.5 billion by 2025, driven by its ever rising demand in numerous end-use industries. Rising energy infrastructure expansion along-with the growing demand for energy, surging investments in chemical, petrochemical, and process industries to drive the heat exchanger market analysis.
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Global heat exchanger market analysis report provides a widespread study of the penetration and application of heat exchangers across different end-use industries. Heat exchanger market share is provided after a thorough analysis of the current and projected trends for the period of 2015 to 2025, with 2018 being the base year and 2019 to 2025 being the forecast period. Heat exchangers market by type have been thoroughly studied based on the extensive value chain of the process equipment industry and related applications such as in oil & gas industries. Additionally, market estimates for the key segments by type and application have been provided at the regional and country level. Furthermore, the report covers the detailed analysis of the leading heat exchangers types such as plate heat exchangers, plate & frame, and shell and tube heat exchangers keeping in mind their individual applications along different geographies.
In 2018, approximately 25.0% of the heat exchanger market share was captured by plate & frame heat exchangers segment. Gasketed, welded and brazed heat exchangers are the sub-segments of the plate and frame heat exchangers market. These heat exchangers are witnessing massive demand in the oil & natural gas sectors such as in refining, processing, and storage applications. Rising need for heat recovery in chemical, HVAC, and food & beverage sectors to drive the growth of plate heat exchangers market. Furthermore, widening use of heat exchangers in maintaining temperature variation in liquefaction and natural gas plants to drive the overall heat exchanger market share in the near future.
Based on the market application segments, the chemical sector is considered to be the fastest growing application and is expected to surpass a CAGR of 5.0% during 2019 to 2025. The chemical industry majorly involves processes such as condensation, evaporation, heating, cooling, and separation. These processes result in massive heat recovery during the heating and cooling of acids, water and caustic solutions. Shell and tube along-with air-cooled heat exchangers are majorly used in chemical processing industries, due to their containment separation abilities that makes them extremely beneficial for manufacturing sites handling toxic gases and chemicals.
The “Global Heat Exchanger Market Size 2017 By Type [Plate & Frame Heat Exchanger (Gasketed, Brazed and Welded), Shell & Tube Heat Exchanger, Air Cooled Heat Exchanger, Cooling Towers and Others], By Application (Oil & Gas, Chemical, Food & Beverage, HVACR, Paper & Pulp and Others), By Region and Forecast 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
Asia Pacific accounted for 43.0% of the global heat exchanger market share in 2018. Immense investments in the renewable energy sector, especially in China and India in the wake of dwindling oil and gas reserves has opened up massive growth opportunities for the heat exchangers industry in the Asian region. Rapid growth of industrial activities in developing Asian countries has further led to the increased usage of energy efficient equipment. Additionally, ongoing investments in mega construction projects in commercial, residential and hospitality sectors is set to boost the adoption of heat exchangers technology and in turn drive the global market demand.
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The market is categorized by the presence of large number of companies and majority of the players in the market are involved in the design, manufacturing, and distribution of heat exchange equipment. Some of the key players covered in the heat exchanger market analysis include API Heat Transfer, Inc., Alfa Laval AB, Kelvion Holdings GmbH, Xylem Inc., and Hughes Anderson Heat Exchangers Inc.
Major points from Table of Contents:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Market Overview, By Type
Chapter 5. Market Overview, By Application
Chapter 6. Market Overview, By Region
Chapter 7. Competitive Landscape
Chapter 8. Company Profiles
Grasp advance knowledge on Global Heat Exchanger Industry through in-depth Blogs, White Paper & Infographics:
Access the White Paper “Intensification Of Heat Transfer In Heat Exchangers Of The Air Source Heat Pumps” @ https://www.adroitmarketresearch.com/white-paper/intensification-of-heat-transfer-in-heat-exchangers-of-the-air-source-heat-pumps
Read the in depth blog titled “Innovative Heat Exchanger Technology For Efficient Heat Treatment” @ https://www.adroitmarketresearch.com/blogs/innovative-heat-exchanger-technology-for-efficient-heat-treatment
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