Heat Exchanger Market

The heat exchanger market is projected to reach USD 32.3 billion by 2029, at a CAGR of 7.0% from USD 23.0 billion in 2024. The growth of the global heat exchanger market is fueled by growing demand of heat pumps in Europe. Supportive government policies, financial incentives, and regulations promoting the adoption of energy-efficient systems, including heat pumps, play a pivotal role in propelling market growth. The increasing awareness of climate change and the imperative to reduce greenhouse gas emissions are driving the demand for cleaner and more sustainable heating solutions such as heat pumps.

Heat Exchanger Companies

The key global players in the heat exchanger market are 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) among others. These companies are strong in their home regions and explore geographic diversification alternatives to grow their businesses. They focus on increasing their market shares through new product launches and other expansions.

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ALFA LAVAL

ALFA LAVAL is a global leading manufacturer specializing in heat transfer, separation, and fluid handling equipment. Its key products are separators, heat exchangers, pumps, and valves. The company has three operating business segments: marine, energy, and food & water. It provides heat exchangers through its energy division. ALFA LAVAL has a broad product portfolio for heat exchangers and offers Aalborg, Cetetube, ViscoLine, Pharma-line, AlfaQ, AlfaCond, AlfaVap, and BaseLine. It also provides customized products for specific applications and operating conditions. The company supplies its products and solutions to various industries such as chemicals, machinery & manufacturing, energy, biotech & pharmaceuticals, food & beverages, transportation, mining, minerals & pigment, marine, semiconductors & electronics, metallurgy, automotive, and pulp & paper. ALFA LAVAL's heat exchangers are designed to efficiently transfer heat using a variety of technologies such as shell & tube, plate & frame, and brazed plate Moreover, it also support services covering installation, maintenance, and repair for its heat exchanger solutions. The company has its operations in Americas, Asia Pacific, the Middle East & Africa, and Europe.

Kelvion Holding GmbH

Kelvion Holding GmbH is a a prominent player in the heat exchanger industry, emerged from the former heat exchanger division of GEA Group AG. The heat exchanger division of GEA Group AG, previously, was acquired by the Triton Fund in 2014 Following this acquisition, in 2015, the division underwent a rebranding as Kelvion, with a distinct focus on the heat exchanger market. Kelvion offers a wide range of heat exchangers such as shell & tube, plate, and air-cooled models, as well as specialty solutions for certain applications such as exhaust gas recirculation (EGR) systems in diesel engines. It offers heat exchangers for various industries such as HVAC, energy, chemistry, commercial buildings, oil & gas, climate & environment, marine, and food & beverages. Additionally, Kelvion provides comprehensive after-sales services such as upgrades, modifications, maintenance, and spare parts supply. The company operates in 49 countries with more than 4,000 employees and has partners in Americas, Europe, Asia Pacific, and the Middle East & Africa.

Related Reports:

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

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