According to TechSci Research, Global heat exchanger market is expected to grow with an impressive CAGR in the forecast period of 2023-2027. The market for heat exchanger is growing on the account of increasing usage of heat exchanger in oil and gas industries. Moreover, the device is employed in various factories with purpose pertaining to industrial applications in steam power plant, chemical processing plants, building heat, etc. Since these industries and their production is increasing so is the demand for heat exchangers in these industries. Thus, driving the growth of global heat exchanger market in the upcoming five years.
Global heat exchanger market is segmented by product type, material, end-user, and regional distribution. Based on product type the market is further fragmented into plate & frame, shell & tube, and air cooled. Plate and frame sub-segment are further categorized into brazed, gasketed, and welded type of heat exchanger. Shell & tube type of heat exchangers are expected to continue its dominance in the market because of its cost-effectiveness over its counterparts in the market. Moreover, this type of heat exchanger is easily applicable even in high operating temperature and pressure thereby fueling the demand for the global heat exchanger market.
Some of the major competitors in the market are ALFA Laval AB, GEA Group Aktiengesellschaft, Xylem Incorporated, SPX Corporation, Danfoss, Hamon & Cie (International) SA, Modine Manufacturing Company, FUNKE Wärmeaustauscher Apparatebau GmbH, Sondex Holding, API Heat Transfer Incorporated, among others. The companies are focusing on extensive research and developments activities to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships.
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Objective of the Study:
- To analyze the historical growth of the market size of global heat exchanger market from 2017 to 2020.
- To estimate and forecast the market size of global heat exchanger market from 2021 to 2027 and growth rate until 2027.
- To classify and forecast global heat exchanger market based on product type, material, end-user, region, and company.
- To identify dominant region or segment in the global heat exchanger market.
- To identify drivers and challenges for global heat exchanger market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global heat exchanger market.
- To identify and analyze the profile of leading players operating in global heat exchanger market.
- To identify key sustainable strategies adopted by market players in global heat exchanger market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers, suppliers, and service providers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufactures which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufactures, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of global heat exchanger market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
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Key Target Audience:
- Manufacturers, end users, service providers and other stakeholders
- Distributers and suppliers of heat exchanger products and other stakeholders
- Organizations, forums, and alliances related to heat exchanger market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as vendors, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
| Attribute | Details |
| Base Year | 2021 |
| Historical Years | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR for 2017-2021 and 2022-2027 |
| Report Coverage | Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | · Product Type
· Material · End User |
| Regional Scope | North America; Asia Pacific; Europe & CIS; South America; Middle East & Africa |
| Country Scope | United States; Canada; Mexico; China; India; Japan; South Korea; Australia; Germany; France; United Kingdom; Spain; Italy; Brazil; Argentina; Colombia; Saudi Arabia; UAE; South Africa; Kuwait |
| Key Companies Profiled | ALFA Laval AB, GEA Group Aktiengesellschaft, Xylem Incorporated, SPX Corporation, Danfoss, Hamon & Cie (International) SA, Modine Manufacturing Company, FUNKE Wärmeaustauscher Apparatebau GmbH, Sondex Holding, API Heat Transfer Incorporated. |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Report Scope:
In this report, global heat exchanger market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Global Heat Exchanger Market, By Product Type:
- Plate & Frame (Brazed, Gasketed, Welded)
- Shell & Tube
- Air Cooled
- Global Heat Exchanger Market, By Material:
- Carbon Steel
- Stainless Steel
- Nickel
- Others
- Global Heat Exchanger Market, By End User:
- Chemical
- Petrochemical
- Oil & Gas
- HVACR
- Food & Beverage
- Power Generation
- Others
- Global Heat Exchanger Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
- South America
- Brazil
- Argentina
- Colombia
- North America
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global heat exchanger market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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