Global Heat Exchangers Market Report 2023: Sector is Expected to Reach $29 Billion by 2028 at a CAGR of 7.1%

Global Heat Exchangers Market

Dublin, June 06, 2023 (GLOBE NEWSWIRE) -- The "Heat Exchangers Market by Type (Shell & Tube, Plate & Frame, Air Cooled), Application (Chemical, Energy, HVACR, Food & Beverage, Power, Paper & Pulp), Material (Metals, Alloys and Brazing Clad), and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global heat exchanger market size is projected to reach USD 29.0 billion by 2028 from USD 20.5 billion in 2023, at a CAGR of 7.1% during the forecast period.

The ever-increasing demand for heat exchangers in emerging markets owing to rising awareness towards energy efficient solutions and stringent government regulations on greenhouse gas and CO2 emissions.

Additionally, the demand for heat exchangers in emerging countries such as Asia Pacific, South America, and Middle East & Africa, is increasing due to the rising industrialisation and rapid urbanization that increases the demand for HVACR equipment for the commercial construction industry. This will drive the heat exchanger market during the forecast period.

Energy segment is estimated to be the fastest growing in terms of value amongst other types in the heat exchanger market, in 2028.

The energy segment which includes the petrochemical and Oil & gas industry is expected to register the fastest CAGR during the forecast period globally.

The increasing focus on energy efficiency, sustainability, and environmental regulations has triggered the demand for heat exchangers in the energy segment. Also, the shift towards sustainable and eco-friendly practices is driving the development of bio-based and renewable petrochemical endues industry which will increase the demand for heat exchangers in the energy segment.

Alloys is the second largest in the heat exchanger market, by material in 2022.

Alloys provide excellent corrosion resistance, which is crucial in heat exchanger applications where fluids with varying chemical compositions and temperatures are involved.

Corrosion-resistant alloys, such as nickel-based alloys, ensure longevity and reliability of heat exchanger equipment, reducing maintenance requirements and downtime. Heat exchangers require materials that can efficiently conduct heat to maximize heat exchange efficiency, and certain alloy compositions provide excellent thermal conductivity, enabling optimal performance.

Europe is the largest in the heat exchanger market in 2022.

Europe is the largest region amongst others in the heat exchanger market in 2022, in terms of value, Germany, France, Italy, Russia, Turkey, and the UK are the key countries driving the Europe heat exchanger market.

This region has a highly developed industrial sector with a significant demand for heat exchangers across various industries, including power generation, oil and gas, chemical processing, HVAC (heating, ventilation, and air conditioning), and automotive manufacturing. Europe has a strong focus on energy efficiency and sustainability, driving the demand for heat exchangers that can optimize energy usage and reduce environmental impact.

Key Attributes:

Report Attribute

Details

No. of Pages

303

Forecast Period

2023 - 2028

Estimated Market Value (USD) in 2023

$20.5 Billion

Forecasted Market Value (USD) by 2028

$29 Billion

Compound Annual Growth Rate

7.1%

Regions Covered

Global

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights4.1 Emerging Economies to Witness a Relatively Higher Demand for Heat Exchangers4.2 Asia-Pacific: Heat Exchangers Market, by End-use Industry and Country4.3 Heat Exchangers Market, by Type4.4 Heat Exchangers Market, by Material4.5 Heat Exchangers Market, by End-use Industry4.6 Heat Exchangers Market, by Country

5 Market Overview5.1 Introduction5.2 Impact of Recession5.3 Market Dynamics5.3.1 Drivers5.3.2 Restraints5.3.3 Opportunities5.3.4 Challenges5.4 Porter's Five Forces Analysis5.4.1 Threat of Substitutes5.4.2 Bargaining Power of Suppliers5.4.3 Threat of New Entrants5.4.4 Bargaining Power of Buyers5.4.5 Intensity of Competitive Rivalry5.5 Value Chain Analysis5.6 Macroeconomic Indicators5.7 Tariff Policies & Regulations5.8 Case Study Analysis5.9 Technology Analysis5.10 Ecosystem Mapping5.11 Trade Analysis5.12 Key Conferences & Events in 2023-20245.13 Key Factors Affecting Buying Decision5.13.1 Quality5.13.2 Service5.14 Patent Analysis

6 Heat Exchangers Market, by Material6.1 Introduction6.2 Metals6.2.1 Steel6.2.1.1 Carbon Steel6.2.1.2 Stainless Steel6.2.2 Copper6.2.3 Aluminum6.2.4 Titanium6.2.5 Nickel6.2.6 Others6.3 Alloys6.3.1 Nickel Alloy6.3.1.1 Hastelloy6.3.1.2 Inconel6.3.1.3 Monel6.3.1.4 Others6.3.2 Copper Alloys6.3.3 Titanium Alloys6.3.4 Other Alloys6.4 Brazing Clad Materials6.4.1 Copper Brazing6.4.2 Ni Clad Brazing6.4.3 Phosphor Copper Brazing6.4.4 Silver Brazing6.4.5 Others

7 Heat Exchangers Market, by Type7.1 Introduction7.2 Shell & Tube Heat Exchangers7.3 Plate & Frame Heat Exchangers7.4 Air Cooled Heat Exchangers7.5 Others7.5.1 Extended Surface Heat Exchangers7.5.2 Regenerative Heat Exchangers

8 Heat Exchangers Market, by End-use Industry8.1 Introduction8.2 Chemical8.3 Energy8.4 HVAC and Refrigeration8.5 Food & Beverage8.6 Power Generation8.7 Pulp & Paper8.8 Others8.8.1 Metallurgical8.8.2 Wastewater Treatment8.8.3 Mining

9 Heat Exchangers Market, by Region

10 Competitive Landscape10.1 Overview10.2 Strategies Adopted by Key Players10.3 Market Evaluation Framework10.4 Company Revenue Analysis10.5 Market Share/Ranking of Key Players10.6 Company Evaluation Matrix10.6.1 Stars10.6.2 Pervasive Players10.6.3 Emerging Leaders10.6.4 Participants10.7 Strength of Product Portfolio for Tier 1 Companies10.8 Business Strategy Excellence for Tier 1 Companies10.9 Company Evaluation Matrix (Start-Ups and SMEs)10.9.1 Progressive Companies10.9.2 Responsive Companies10.9.3 Starting Blocks10.9.4 Dynamic Companies10.10 Strength of Product Portfolio (Start-Ups and SMEs)10.11 Business Strategy Excellence (Start-Ups and SMEs)10.12 Competitive Benchmarking10.13 Competitive Situation and Trends10.13.1 New Product Launches/Development10.13.2 Deals10.13.3 Jvs/Technlologial Collaborations

11 Company Profiles11.1 Key Players11.1.1 Alfa Laval11.1.2 Kelvion Holding GmbH11.1.3 Exchanger Industries Limited11.1.4 Mersen11.1.5 Danfoss11.1.6 API Heat Transfer11.1.7 Boyd Corporation11.1.8 H. Guntner (Uk) Limited11.1.9 Johnson Controls11.1.10 Xylem11.1.11 Wabtec Corporation11.1.12 Spx Flow11.1.13 Lu-Ve S.P.A.11.1.14 Lennox International Inc.11.2 Other Players11.2.1 Air Products Inc.11.2.2 Barriquand Technologies Thermiques11.2.3 Brask, Inc.11.2.4 Chart Industries11.2.5 Doosan Corporation11.2.6 Funke Heat Exchanger Apparatebau GmbH11.2.7 Hisaka Works, Ltd.11.2.8 Hindustan Dorr-Oliver Ltd.11.2.9 Koch Heat Transfer Company11.2.10 Radiant Heat Exchanger Pvt. Ltd. Pune India11.2.11 Swep International Ab11.2.12 Smartheat11.2.13 Sierra S.P.A.11.2.14 Thermax Limited11.2.15 Vahterus Oy

12 Appendix

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Global Heat Exchangers Market