Heat Exchanger Market Outlook to 2022 - Market Analysis by Geography, Type, Competitive Landscape, Key Company Information - Growth Trends and Forecasts
The global heat exchanger market has been estimated at USD XX billion in 2016 and is projected to reach USD 22.9 billion by 2022, at a CAGR of XX% during the forecast period from 2017 to 2022. The heat exchanger is a device that has applications in several industries. These exchangers enable the passage of heat from one fluid to another, and thus, an essential component in many industrial processes where they help in the durability of machines. Heat exchangers are mostly used in cooling systems and find their place right from locomotion to power generation plants. The heat exchangers market is expected to grow at an excellent rate, as the world moves more towards industrialization owing to the increasing population.
The world population is expected to reach nine billion by 2050, with most of the growth occurring in developing countries. Due to the increase in population, the global energy consumption is expected to increase drastically. This will also lead to the nations being industrialized. The growth of industrialization will certainly drive the market for heat exchangers, heating, ventilation and air conditioning systems (HVAC), which use heat exchangers, extensively. Cooling equipment in the HVAC systems, in the residential sector, will see an increasing demand for heat exchangers as most of the HVAC systems need refurbishments, along with new installations in many parts of the world.
The main concern regarding heat exchangers is the availability of raw material and their price fluctuation. Hence, this can be a constraint for the heat exchangers market. However, this market has several market opportunities, such as technological improvements and the growth of emerging markets across the world, especially in Asia-Pacific.
Market Segmentation & Scope
The heat exchanger market applies to different sectors, such as residential, commercial and industrial, with the industrial segment occupying the largest share, globally. The market has also been categorized, based on the construction type, into tubular, plate type and extended surface. XX type of heat exchanger occupies the biggest market in the world, with a share of XX% in 2016. The market has been further segmented, based on the end-user, into oil & gas, automotive and aviation, power plants, mining, chemicals, HVAC, and others. XX end-user occupied the largest market share of XX%, in 2016. Geographically, the market has been segmented into North America, Asia-Pacific, Europe, the Middle East & Africa and Latin America, with Asia-Pacific occupying the largest consumer base in the world. XX and XX follow the list in the same order. The major companies dominating this market for its products, services, and continuous product developments have been listed in the report.
Scope of the Report:
Global Heat Exchanger Market Analysis, by Construction Type
Tubular Plate Type Extended Surface Global Heat Exchanger Market Analysis, by Application
Residential Commercial Industrial Global Heat Exchanger Market Analysis, by End-User
Oil & Gas Automotive & Aviation Power Plants Mining Chemicals HVAC Others Global Heat Exchanger Market Analysis, by Region
North America Asia-Pacific Europe The Middle East & Africa South America Key Companies
Alfa Laval AB Barriquand technologies Thermiques Danfoss A/S General Electric Hamon Group Hisaka Hrs Heat Exchangers Ltd. Johnson Control Mersen Mitsibushi Electric Modine Manufacturing Company Sondex Holdings A/S SPX Corporation Thermax Toshiba Xylem Inc. Others Key Deliverables in the Study
Market Overview - market analysis and identification of key drivers, restraints, and opportunities. Major trends and economic outlook. Supply chain analysis. Porter’s five forces analysis. A comprehensive summary of the industry sectors and regions poised for the fastest-growth. Heat Exchanger market analysis by type, region, capacity/rating, end-use, and application. Future outlook of the market. Extensively researched competitive landscape section with profiles of major companies, along with their estimated market shares.