Heat Exchanger Market Growth Prospect and Consumption Analysis till 2030

Posted on 2022-06-14 by researchinsights in Industrial // 0 Comments

San Francisco, California , USA, June 14, 2022 — /EPR Network/ —

Heat Exchanger Industry Overview

The global heat exchanger market size was estimated at USD 17.38 billion in 2021 and is expected to witness a compounded annual growth rate (CAGR) of 5.1% from 2022 to 2030.

The rising focus on efficient thermal management in various industries, including oil & gas, power generation, chemical & petrochemical, food & beverage, and HVAC & refrigeration, is expected to drive the demand for heat exchangers during the forecast period.

Rising demand from the chemical industry coupled with increasing technological advancements and a growing focus on improving efficiency standards is expected to drive the market over the coming years. Most processes in petrochemical facilities involve high pressure and temperature, thus, necessitating the optimization of heat transfer and the enhancement of energy savings, which, in turn, is likely to boost the demand for energy-efficient heat exchangers.

Gather more insights about the market drivers, restrains and growth of the Global Heat Exchanger Market

The U.S. dominated the North America heat exchanger market in 2021, owing to high electricity demand, industrialization, and investments in renewable power generation in the country. Rising investments by oil & gas companies in exploration & production activities in the U.S. are expected to boost the demand for these products in the oil & gas industry.

The significant power markets such as China, the U.S., India, Russia, and Japan are restructuring the operating models to adapt the structure of renewable energy and efficient utilization of energy by installing heat exchangers and shifting from traditional energy use. This is expected to drive the demand for heat exchangers during the forecast period.

Technological advancements such as tube inserts in heat exchangers are expected to complement the market growth. Furthermore, ongoing technological improvements to improve energy efficiency, total life cycle cost, durability, and compactness of heat exchangers are expected to drive the industry growth during the forecast period.

The manufacturers of these products face a long list of difficult supply chain challenges, including increasing demand variability, intense global competition, more environmental compliance regulations, increasing human- and nature-based risks, and inventory proliferation. The COVID-19 pandemic has created new challenges, which are compelling manufacturers to innovate their supply chains at a faster speed.

Browse through Grand View Research’s HVAC & Construction Industry Research Reports.

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Heat Exchanger Market Segmentation

Grand View Research has segmented the global heat exchanger market on the basis of product, end use, and region:

Product Outlook (Revenue, USD Million; 2017 – 2030)
- Plate & Frame Heat Exchanger
  - Brazed Plate & Frame Heat Exchanger
  - Gasketed Plate & Frame Heat Exchanger
  - Welded Plate & Frame Heat Exchanger
  - Others
- Shell & Tube Heat Exchanger
- Air-Cooled Heat Exchanger
- Others
End-use Outlook (Revenue, USD Million; 2017 – 2030)
- Chemical & Petrochemical
- Oil & Gas
- HVAC & Refrigeration
- Power Generation
- Food & Beverage
- Pulp & Paper
- Others
Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa

Key Companies profiled:

Some prominent players in the Heat Exchanger market include

Alfa Laval
Kelvion Holding GmbH
Danfoss
API Heat Transfer
Xylem Inc.
HRS Heat Exchangers
Hisaka Works, Ltd.
Koch Heat Transfer Company

Order a free sample PDF of the Heat Exchanger Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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