Heat Exchanger Market worth $32.3 billion by 2029
The report "Heat Exchanger Market by Type (Shell & Tube, Plate & Frame, Air Cooled), Material (Metal, Alloys, Brazing Clad Materials), End-Use Industry (Chemical, Energy, Hvacr, Food & Beverage, Power, Pulp & Paper), and Region - Global Forecast to 2029", is projected to reach USD 32.3 billion by 2029, at a CAGR of 7.0% from USD 23.0 billion in 2024.
Browse 350 market data Tables and 57 Figures spread through 321 Pages and in-depth TOC on "Heat Exchanger Market by Type (Shell & Tube, Plate & Frame, Air Cooled), Material (Metal, Alloys, Brazing Clad Materials), End-Use Industry (Chemical, Energy, Hvacr, Food & Beverage, Power, Pulp & Paper), and Region - Global Forecast to 2029"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/heat-exchanger-market-750.html
The Heat exchangers market is driven by increasing industrialization in emerging economies, rising energy efficiency regulations and stringent emission standards, growing demand for HVACR equipments for commercial construction and rising demand for sustainable, low energy consuming, cost-effective heat exchangers.
“Metals is projected to be the fastest growing material of heat exchangers, in terms of value, during the forecast period.”
Metals are the largest materials used for heat exchangers, with aluminum, stainless steel, titanium, and copper being some of the most common choices. Metals generally have high thermal conductivity, which is crucial for efficient heat transfer in heat exchangers. Many metals like stainless steel, titanium, and nickel-based alloys have high mechanical strength and can withstand the high temperatures, pressures, and corrosive environments often encountered in heat exchanger applications.
“Shell & Tube is the largest type of the heat exchangers, in terms of value.”
Shell and tube heat exchanger is the most commonly used type due to its efficiency in heat transfer, versatility, ease of maintenance, resistance to thermal shocks, wide range of applications, and the large heat-transfer surface it offers per unit of volume and weight. These heat exchangers offer efficient heat exchange rates due to their design, allowing for the movement of fluids through tubes and the exterior shell, facilitating effective heat transfer between fluids. Shell and tube heat exchangers are designed for easy disassembly, cleaning, and repair, making maintenance straightforward. Their flexible design allows for modifications in tube pitch, arrangement, length, number, and diameter, ensuring adaptability to different applications.
“Europe captures the largest share in the heat exchangers market during the forecast period, in terms of value.”
Europe has a diverse and well-established industrial base, including sectors such as chemical processing, oil and gas, power generation, food and beverage, and HVAC (heating, ventilation, and air conditioning). These industries have significant demand for heat exchangers across various applications, driving the market growth. European countries have some of the most stringent environmental regulations in the world. Heat exchangers are crucial for compliance with these regulations, as they help industries improve energy efficiency, reduce greenhouse gas emissions, and minimize waste heat. The need to adhere to environmental standards drives the demand for advanced heat exchanger technologies in Europe.
Mergers, new product launches and expansions are the major growth strategies adopted by the key players in the market. The key global players in the heat exchangerss market include ALFA LAVAL (Sweden), Kelvion Holding GmbH (Germany), Danfoss (Denmark), Exchanger Industries Limited (Canada), Mersen (France), API Heat Transfer (US), Boyd (US), H. Güntner (UK) Limited (Germany), Johnson Controls (Ireland), Xylem (US), Wabtec Corporation (US), SPX FLOW (US), LU-VE S.p.A. (Italy), Lennox International Inc. (US), and Modine Manufacturing Company (US).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Heat Exchanger Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
