Heat Exchanger Market Analysis
Heat Exchanger Market is projected to be worth USD 33.8 billion by 2030, registering a CAGR of 6.8% during the forecast period (2022 - 2030), according to the latest Market Research Future (MRFR) analysis. A heat exchanger, simply put, is a device that transfers the heat from a specific medium to another. Heat is transferred through conduction by exchanger materials that separate the mediums being used. They are more reliable and efficient in operation when specific parameters like installation, flow rate, and temperature differential guidelines are successfully evaluated.
In this report, we look at opportunities in the global market. We analyze the products and services offered by key players, analyze current and future trends, macroeconomic factors that influence the industry, present new analytical methods for analyzing these trends. The report also includes regional outlook for sales figures and other information specific to sales or economic regions in 2030.
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Various factors are fuelling the global heat exchanger market share. As per the recent MRFR market estimates, such factors include the growing adoption in different industrial applications such as spas and swimming pools, mining, power generation, mobile power plant, food process equipment, marine, and hydraulic and industrial processing, increase in power demand from non-commercial and commercial sector, growing population, economic growth in the developing nations, technological developments in heat exchangers, growth in HVACR process equipment, rising investments in manufacturing, industrial, and commercial projects, and rise in industrialization.
On the contrary, lack of awareness about energy efficiency in buildings, impact of the COVID-19 pandemic, high cost of heat exchangers, and fluctuations in raw material prices may impede the global heat exchanger market growth over the forecast period.
Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global heat exchanger market based on type and application.
By type, the global heat exchanger market is segmented into air cooled, regenerative, plate, and shell and tube. Of these, the shell and tube segment will lead the market over the forecast period.
By application, the global heat exchanger market is segmented into food and beverage, HVACR, power generation, oil and gas, chemicals, and others. Of these, the chemicals segment will dominate the market over the forecast period followed by the oil and gas industry.
Industry Updates
April 2021-Alfa Laval will soon pioneer sustainable, ground-breaking heat exchanger recycling.
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Key Players
The leading players profiled in the global heat exchanger market report include Hughes Anderson Heat Exchangers (U.S.), Koch Heat Transfer Company (U.S.), Hamon & Cie International SA (Belgium), Sierra S.p.A (Italy), Gunter AG & Co. KG (Germany), API Heat Transfer Inc. (U.S), Xylem Inc. (U.S.), SPX Corporation (U.S.), Danfoss A/S (Denmark), Southern Heat Exchanger (U.S.), Kelvion Holdings Gmbh (Germany), and Alfa Laval AB (Sweden), among others.
