“Increasing investments in chemical and HVACR industries drive the Heat Exchangers Market”
The market size of heat exchangers is estimated to reach USD 20.65 billion by 2031, at a CAGR of 8.3% from 2022 to 2031.
Heat exchangers offer various advantages, such as high operating efficiency and reduced energy consumption. The heat exchanger market is spread across a wide range of end-use industries, including nuclear & thermal power plants, petroleum refineries, petrochemical plants, food processing plants, and HVACR.
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“HVACR is one of the fastest-growing applications of heat exchanger”
The HVACR application segment is projected to grow at the highest CAGR from 2022 to 2031. The high growth is attributed to the growing building & construction industry and increased government investments in infrastructure projects resulting in installation of HVACR systems.
“Rising demand from Asia Pacific is a major driver of the heat exchanger market“
Asia Pacific is expected to be the fastest-growing market for heat exchangers in terms of value during the forecast period. China and India are the two major markets for heat exchangers in Asia Pacific. The high growth in the commercial building & construction industry, high-end real estate, and energy-saving policies are likely to drive the demand for heat exchangers in both China and India.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The break-up of primary interviews is given below.
• By Company Type: Tier 1 – 33%, Tier 2 – 60%, and Others – 7%
• By Designation: C level – 56%, Director level – 33%, and Others –- 11%
• By Region: North America – 17%, Europe – 33%, Asia-Pacific – 25%, Middle East & Africa – 17%, and South America – 8%
The key companies profiled in this market research report are Alfa Laval AB (Sweden), Kelvion Holdings Gmbh (Germany), Danfoss A/S (Denmark), SPX Corporation (US), Xylem Inc. (US), API Heat Transfer Inc. (US), Gunter AG & Co. KG (Germany), Hamon & Cie International SA (Belgium), Hindustan Dorr-Oliver Limited (India), Hisaka Works Limited (Japan), HRS Heat Exchangers (India), Modine Manufacturing Company (US), Sierra S.p.A (Italy), Sondex Holdings A/S (Denmark), and SWEP International AB (Denmark).
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The market is segmented based on type, application, and region. This report covers the heat exchangers market, in terms of value and forecasts its market size till 2031. The report also provides company profiles and competitive strategies adopted by the key players in the global heat exchangers market.
Reasons to Buy the Report
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the heat exchanger market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
2. The report helps the stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders understand the competitors and gain more insights to improve their position in the business. The competitive landscape section includes new product developments, expansions, agreements & contracts partnerships, acquisitions, and joint ventures.
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