Global Heat Exchangers Market, By Raw Material (Steel, Carbon Steel, Stainless Steel, Non-Steel, Copper, Aluminum, Titanium, Nickel, Plastic), By Type (Shell & Tube Heat Exchangers, Plate & Frame Heat Exchangers, Air Cooled Heat Exchangers, Others), By En
Description
Global Heat Exchangers Market, By Raw Material (Steel, Carbon Steel, Stainless Steel, Non-Steel, Copper, Aluminum, Titanium, Nickel, Plastic), By Type (Shell & Tube Heat Exchangers, Plate & Frame Heat Exchangers, Air Cooled Heat Exchangers, Others), By End-User (Chemical, Energy, HVAC And Refrigeration, Food & Beverage, Power Generation, Pulp & Paper, Others), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)Trend Analysis, Competitive Market Share & Forecast, 2018-2028
Global Heat Exchangers Market is Forecast to Grow at a CAGR of 4.70% in the Forecast Period
The global heat exchangers market is growing at a high CAGR because of the rising focus and investment towards efficient thermal management for energy conservation and cost reduction along with increasing installation of HVAC systems among residential, commercial, and industrial sectors..
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global heat exchangers market was worth USD 15.4 billion in the year 2021. It is estimated to grow at a CAGR of 4.70%, earning revenue of around USD 21.1 billion by the end of 2028. The global heat exchangers market is flourishing at a high rate owing to the rising focus and investment towards efficient thermal management for energy conservation and cost reduction. Furthermore, increasing installation of HVAC systems among residential, commercial, and industrial sectors is also playing a crucial role in driving the growth of the global heat exchangers market.
Expanding Power Generation Sector is Driving the Growth of the Global Heat Exchangers Market
The rising demand for renewable energy is fueling the growth of the power generation sector, which is further anticipated to propel the demand for heat exchangers in the forecast period. Heat exchangers are prominently used in power plants to collect heat from hot waste gases to get power. These systems play a crucial role in boosting the efficiency of power plants since the exhaust gases still have some useful energy in the form of heat. This is estimated to drive the growth of the overall global heat exchangers market.
Expanding Usage of Heat Exchangers is Providing Lucrative Growth Opportunities to the Market
With rapid innovations in the heat exchangers by manufacturers, the application of these systems can be widened, which will play a crucial role in boosting its market demand. Heat exchangers are already in use in many electrical appliances such as chemical processing systems, automobile radiators, waste heat recovery systems, power plants, food processing systems, refrigeration, etc. As the demand for these applications increases, the market for heat exchangers is also projected to surge.
Global Heat Exchangers Market - By Raw Material
Based on raw material, the global heat exchangers market is segmented into steel, carbon steel, stainless steel, non-steel, copper, aluminum, titanium, nickel, and plastic. The steel segment accounts for the largest share in the global heat exchangers market since this type of raw material provides high durability and strength as well as resistance against corrosion. However, other non-steel materials such as titanium also cover substantial shares in the market.
Global Heat Exchangers Market - Regional Insights
Geographically, the global heat exchangers market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa. Europe dominates the global heat exchangers market owing to the strong adoption of HVAC systems in countries such as the United Kingdom, France, Germany, etc. The Asia-Pacific region is projected to witness the highest CAGR during the forecast period owing to the rising investment in the chemical and power industry in emerging economies such as China, India, Thailand, etc.
Impact of COVID-19 on Global Heat Exchangers Market
The COVID-19 pandemic negatively impacted the growth of the global heat exchangers market. The operations of the end-user industries including chemical, oil and gas, power generation, etc., were completely halted due to lockdown and social distancing norms. Furthermore, the pandemic also led to fluctuations in the raw materials of heat exchangers due to supply chain disruptions and mining operations. Also, the lack of a workforce during the pandemic directly impacted the growth of the global heat exchangers market.
Competitive Landscape
The leading market players of the global heat exchangers market are ALFA LAVAL, Danfoss, Kelvion Holding GmbH, Mersen, Exchanger Industries Limited, General Electric Company, Sondex A/S, Xylem Inc., Hisaka Works, LTD., Modine Manufacturing, IHI Corporation, Koch Industries, Royal Hydraulics, and other prominent players. The market is fragmented and competitive with the presence of many global and regional industry participants. The companies constantly launch new products and significantly invest in research as well as development activities to bring innovations into their offerings. Additionally, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.
Don’t miss the business opportunity of the global heat exchangers market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global heat exchangers market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global heat exchangers market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
About Us
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
Global Heat Exchangers Market is Forecast to Grow at a CAGR of 4.70% in the Forecast Period
The global heat exchangers market is growing at a high CAGR because of the rising focus and investment towards efficient thermal management for energy conservation and cost reduction along with increasing installation of HVAC systems among residential, commercial, and industrial sectors..
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global heat exchangers market was worth USD 15.4 billion in the year 2021. It is estimated to grow at a CAGR of 4.70%, earning revenue of around USD 21.1 billion by the end of 2028. The global heat exchangers market is flourishing at a high rate owing to the rising focus and investment towards efficient thermal management for energy conservation and cost reduction. Furthermore, increasing installation of HVAC systems among residential, commercial, and industrial sectors is also playing a crucial role in driving the growth of the global heat exchangers market.
Expanding Power Generation Sector is Driving the Growth of the Global Heat Exchangers Market
The rising demand for renewable energy is fueling the growth of the power generation sector, which is further anticipated to propel the demand for heat exchangers in the forecast period. Heat exchangers are prominently used in power plants to collect heat from hot waste gases to get power. These systems play a crucial role in boosting the efficiency of power plants since the exhaust gases still have some useful energy in the form of heat. This is estimated to drive the growth of the overall global heat exchangers market.
Expanding Usage of Heat Exchangers is Providing Lucrative Growth Opportunities to the Market
With rapid innovations in the heat exchangers by manufacturers, the application of these systems can be widened, which will play a crucial role in boosting its market demand. Heat exchangers are already in use in many electrical appliances such as chemical processing systems, automobile radiators, waste heat recovery systems, power plants, food processing systems, refrigeration, etc. As the demand for these applications increases, the market for heat exchangers is also projected to surge.
Global Heat Exchangers Market - By Raw Material
Based on raw material, the global heat exchangers market is segmented into steel, carbon steel, stainless steel, non-steel, copper, aluminum, titanium, nickel, and plastic. The steel segment accounts for the largest share in the global heat exchangers market since this type of raw material provides high durability and strength as well as resistance against corrosion. However, other non-steel materials such as titanium also cover substantial shares in the market.
Global Heat Exchangers Market - Regional Insights
Geographically, the global heat exchangers market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa. Europe dominates the global heat exchangers market owing to the strong adoption of HVAC systems in countries such as the United Kingdom, France, Germany, etc. The Asia-Pacific region is projected to witness the highest CAGR during the forecast period owing to the rising investment in the chemical and power industry in emerging economies such as China, India, Thailand, etc.
Impact of COVID-19 on Global Heat Exchangers Market
The COVID-19 pandemic negatively impacted the growth of the global heat exchangers market. The operations of the end-user industries including chemical, oil and gas, power generation, etc., were completely halted due to lockdown and social distancing norms. Furthermore, the pandemic also led to fluctuations in the raw materials of heat exchangers due to supply chain disruptions and mining operations. Also, the lack of a workforce during the pandemic directly impacted the growth of the global heat exchangers market.
Competitive Landscape
The leading market players of the global heat exchangers market are ALFA LAVAL, Danfoss, Kelvion Holding GmbH, Mersen, Exchanger Industries Limited, General Electric Company, Sondex A/S, Xylem Inc., Hisaka Works, LTD., Modine Manufacturing, IHI Corporation, Koch Industries, Royal Hydraulics, and other prominent players. The market is fragmented and competitive with the presence of many global and regional industry participants. The companies constantly launch new products and significantly invest in research as well as development activities to bring innovations into their offerings. Additionally, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.
Don’t miss the business opportunity of the global heat exchangers market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global heat exchangers market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global heat exchangers market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
About Us
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
Table of Contents
198 Pages
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Research Methodology
- 2.1. Qualitative Research
- 2.1.1. Primary & Secondary Research
- 2.2. Quantitative Research
- 2.3. Market Breakdown & Data Triangulation
- 2.3.1. Secondary Research
- 2.3.2. Primary Research
- 2.4. Breakdown of Primary Research Respondents, By Region
- 2.5. Assumption & Limitation
- 3. Executive Summary
- 4. Global Heat Exchangers Market Insights
- 4.1. Industry Value Chain Analysis
- 4.2. DROC Analysis
- 4.2.1. Growth Drivers
- 4.2.2. Restraints
- 4.2.3. Opportunities
- 4.2.4. Challenges
- 4.3. Technological Advancement/Recent Development
- 4.4. Regulatory Framework
- 4.5. Porter’s Five Forces Analysis
- 4.5.1. Bargaining Power of Suppliers
- 4.5.2. Bargaining Power of Buyers
- 4.5.3. Threat of New Entrants
- 4.5.4. Threat of Substitutes
- 4.5.5. Intensity of Rivalry
- 5. Global Heat Exchangers Market Overview
- 5.1. Market Size & Forecast by Value, 2018-2028
- 5.1.1. By Value (USD Million)
- 5.2. Market Share & Forecast
- 5.2.1. By Type
- 5.2.1.1. Shell and Tube
- 5.2.1.2. Plate and Frame
- 5.2.1.3. Air Cooled
- 5.2.2. By Raw Material
- 5.2.2.1. Steel
- 5.2.2.2. Copper
- 5.2.2.3. Aluminum
- 5.2.2.4. Others
- 5.2.3. By Application
- 5.2.3.1. Chemical
- 5.2.3.2. Energy
- 5.2.3.3. HVAC
- 5.2.3.4. Food & Beverage
- 5.2.3.5. Power Generation
- 5.2.3.6. Pulp and Paper
- 5.2.3.7. Others
- 5.2.4. By Region
- 5.2.4.1. North America
- 5.2.4.2. Europe
- 5.2.4.3. The Asia Pacific
- 5.2.4.4. Latin America
- 5.2.4.5. The Middle East and Africa
- 6. North America Heat Exchangers Market
- 6.1. Market Size & Forecast by Value, 2018-2028
- 6.1.1. By Value (USD Million)
- 6.2. Market Share & Forecast
- 6.2.1. By Type
- 6.2.2. By Raw Material
- 6.2.3. By Application
- 6.2.4. By Country
- 6.2.4.1. United States
- 6.2.4.2. Canada
- 7. Europe Heat Exchangers Market
- 7.1. Market Size & Forecast by Value, 2018-2028
- 7.1.1. By Value (USD Million)
- 7.2. Market Share & Forecast
- 7.2.1. By Type
- 7.2.2. By Raw Material
- 7.2.3. By Application
- 7.2.4. By Country
- 7.2.4.1. Germany
- 7.2.4.2. United Kingdom
- 7.2.4.3. Italy
- 7.2.4.4. France
- 7.2.4.5. Spain
- 7.2.4.6. Rest of Europe
- 8. The Asia Pacific Heat Exchangers Market
- 8.1. Market Size & Forecast by Value, 2018-2028
- 8.1.1. By Value (USD Million)
- 8.2. Market Share & Forecast
- 8.2.1. By Type
- 8.2.2. By Raw Material
- 8.2.3. By Application
- 8.2.4. By Country
- 8.2.4.1. China
- 8.2.4.2. India
- 8.2.4.3. Japan
- 8.2.4.4. South Korea
- 8.2.4.5. Rest of Asia Pacific
- 9. Latin America Heat Exchangers Market
- 9.1. Market Size & Forecast by Value, 2018-2028
- 9.1.1. By Value (USD Million)
- 9.2. Market Share & Forecast
- 9.2.1. By Type
- 9.2.2. By Raw Material
- 9.2.3. By Application
- 9.2.4. By Country
- 9.2.4.1. Brazil
- 9.2.4.2. Mexico
- 9.2.4.3. Rest of Latin America
- 10. The Middle East & Africa Heat Exchangers Market
- 10.1. Market Size & Forecast by Value, 2018-2028
- 10.1.1. By Value (USD Million)
- 10.2. Market Share & Forecast
- 10.2.1. By Type
- 10.2.2. By Raw Material
- 10.2.3. By Application
- 10.2.4. By Country
- 10.2.4.1. Saudi Arabia
- 10.2.4.2. UAE
- 10.2.4.3. South Africa
- 10.2.4.4. Rest of Middle East & Africa
- 11. Competitive Landscape
- 11.1.
- List of Key Players and their Offerings
- 11.2. Market Share Analysis, 2021
- 11.3. Competitive Benchmarking, By Operating Parameters
- 11.4. Key Strategic Development (Merger, Acquisition, Partnership.)
- 12. Impact of Covid-19 on Global Heat Exchangers Industry
- 13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
- 13.1. ALFA LAVAL
- 13.2. Kelvion Holding GmbH
- 13.3. Exchanger Industries Limited
- 13.4. Mersen
- 13.5. Danfoss
- 13.6. API Heat Transfer
- 13.7. Boyd Corporation
- 13.8. H. Güntner (UK) Limited
- 13.9. Johnson Controls
- 13.10. XYLEM
- 13.11. Accessen Group
- 13.12. API Heat Transfer
- 13.13. Chart Industries.
- 13.14. Hisaka Works. Ltd.
- 13.15. Koch Industries, Inc.
- 13.16. Thermofin Gmbh
- 13.17. Other prominent players
- 14. Key Strategic Recommendations
- *Financial information in case of non-listed companies will be provided as per availability.
- **The segmentation and the companies are subjected to modifications based on in-depth study for the final deliverable.
- List of Figures
- Figure 1 Global Heat Exchangers Market Segmentation
- Figure 2 Global Heat Exchangers Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2021
- Figure 4 Global Heat Exchangers Market Size, By Value (USD Million), 2018-2028
- Figure 5 Global Heat Exchangers Market Share, By Type, By Value, 2018-2028
- Figure 6 Global Heat Exchangers Market Share, By Raw Material, By Value, 2018-2028
- Figure 7 Global Heat Exchangers Market Share, By Application, By Value, 2018-2028
- Figure 8 Global Heat Exchangers Market Share, By Region, By Value, 2018-2028
- Figure 9 North America Heat Exchangers Market Size, By Value (USD Million), 2018-2028
- Figure 10 North America Heat Exchangers Market Share, By Type, By Value, 2018-2028
- Figure 11 North America Heat Exchangers Market Share, By Raw Material, By Value, 2018-2028
- Figure 12 North America Heat Exchangers Market Share, By Application, By Value, 2018-2028
- Figure 13 North America Heat Exchangers Market Share, By Country, By Value, 2018-2028
- Figure 14 Europe Heat Exchangers Market Size, By Value (USD Million), 2018-2028
- Figure 15 Europe Heat Exchangers Market Share, By Type, By Value, 2018-2028
- Figure 16 Europe Heat Exchangers Market Share, By Raw Material, By Value, 2018-2028
- Figure 17 Europe Heat Exchangers Market Share, By Application, By Value, 2018-2028
- Figure 18 Europe Heat Exchangers Market Share, By Country, By Value, 2018-2028
- Figure 19 The Asia-Pacific Heat Exchangers Market Size, By Value (USD Million), 2018-2028
- Figure 20 The Asia-Pacific Heat Exchangers Market Share, By Type, By Value, 2018-2028
- Figure 21 The Asia-Pacific Heat Exchangers Market Share, By Raw Material, By Value, 2018-2028
- Figure 22 The Asia-Pacific Heat Exchangers Market Share, By Application, By Value, 2018-2028
- Figure 23 The Asia-Pacific Heat Exchangers Market Share, By Country, By Value, 2018-2028
- Figure 24 Latin America Heat Exchangers Market Size, By Value (USD Million), 2018-2028
- Figure 25 Latin America Heat Exchangers Market Share, By Type, By Value, 2018-2028
- Figure 26 Latin America Heat Exchangers Market Share, By Raw Material, By Value, 2018-2028
- Figure 27 Latin America Heat Exchangers Market Share, By Application, By Value, 2018-2028
- Figure 28 Latin America Heat Exchangers Market Share, By Country, By Value, 2018-2028
- Figure 29 The Middle East & Africa Heat Exchangers Market Size, By Value (USD Million), 2018-2028
- Figure 30 The Middle East & Africa Heat Exchangers Market Share, By Type, By Value, 2018-2028
- Figure 31 The Middle East & Africa Heat Exchangers Market Share, By Raw Material, By Value, 2018-2028
- Figure 32 The Middle East & Africa Heat Exchangers Market Share, By Application, By Value, 2018-2028
- Figure 33 The Middle East & Africa Heat Exchangers Market Share, By Country, By Value, 2018-2028
- List of Tables
- Table 1 Global Heat Exchangers Market Size, By Type, By Value, 2018-2028
- Table 2 Global Heat Exchangers Market Size, By Raw Material, By Value, 2018-2028
- Table 3 Global Heat Exchangers Market Size, By Application, By Value, 2018-2028
- Table 4 Global Heat Exchangers Market Size, By Region, By Value, 2018-2028
- Table 5 North America Heat Exchangers Market Size, By Type, By Value, 2018-2028
- Table 6 North America Heat Exchangers Market Size, By Raw Material, By Value, 2018-2028
- Table 7 North America Heat Exchangers Market Size, By Application, By Value, 2018-2028
- Table 8 North America Heat Exchangers Market Size, By Country, By Value, 2018-2028
- Table 9 Europe Heat Exchangers Market Size, By Type, By Value, 2018-2028
- Table 10 Europe Heat Exchangers Market Size, By Raw Material, By Value, 2018-2028
- Table 11 Europe Heat Exchangers Market Size, By Application, By Value, 2018-2028
- Table 12 Europe Heat Exchangers Market Size, By Country, By Value, 2018-2028
- Table 13 The Asia-Pacific Heat Exchangers Market Size, By Type, By Value, 2018-2028
- Table 14 The Asia-Pacific Heat Exchangers Market Size, By Raw Material, By Value, 2018-2028
- Table 15 The Asia-Pacific Heat Exchangers Market Size, By Application, By Value, 2018-2028
- Table 16 The Asia-Pacific Heat Exchangers Market Size, By Country, By Value, 2018-2028
- Table 17 Latin America Heat Exchangers Market Size, By Type, By Value, 2018-2028
- Table 18 Latin America Heat Exchangers Market Size, By Raw Material, By Value, 2018-2028
- Table 19 Latin America Heat Exchangers Market Size, By Application, By Value, 2018-2028
- Table 20 Latin America Heat Exchangers Market Size, By Country, By Value, 2018-2028
- Table 21 The Middle East & Africa Heat Exchangers Market Size, By Type, By Value, 2018-2028
- Table 22 The Middle East & Africa Heat Exchangers Market Size, By Raw Material, By Value, 2018-2028
- Table 23 The Middle East & Africa Heat Exchangers Market Size, By Application, By Value, 2018-2028
- Table 24 The Middle East & Africa Heat Exchangers Market Size, By Country, By Value, 2018-2028
- Table 25 ALFA LAVAL Company Overview
- Table 26 ALFA LAVAL Financial Overview
- Table 27 Kelvion Holding GmbH Company Overview
- Table 28 Kelvion Holding GmbH Financial Overview
- Table 29 Mersen Company Overview
- Table 30 Mersen Financial Overview
- Table 31 Danfoss Company Overview
- Table 32 Danfoss Financial Overview
- Table 33 Boyd Corporation Company Overview
- Table 34 Boyd Corporation Financial Overview
- Table 35 Johnson Controls Company Overview
- Table 36 Johnson Controls Financial Overview
- Table 37 XYLEM Company Overview
- Table 38 XYLEM Financial Overview
- Table 39 Accessen Group Company Overview
- Table 40 Accessen Group Financial Overview
- Table 41 API Heat Transfer Company Overview
- Table 42 API Heat Transfer Financial Overview
- Table 43 Chart Industries. Inc. Company Overview
- Table 44 Chart Industries. Inc. Financial Overview
- Table 45 Hisaka Works. Ltd. Company Overview
- Table 46 Hisaka Works. Ltd. Financial Overview
- Table 47 Koch Industries, Inc. Company Overview
- Table 48 Koch Industries, Inc. Financial Overview
- Table 49 Thermofin Gmbh Company Overview
- Table 50 Thermofin Gmbh Financial Overview
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