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Heat Exchanger Market Overview

Heat Exchanger Market is projected to reach USD 317.4 Billion  by 2027 from an estimated USD 17.1 billion in 2019, at a CAGR of 6.19%.

Notable Developments

In the last decades, heat exchangers have gone through a rapid development phase known for offering quiet, efficient operation. High potential in the consumer market, simultaneous incessant investment in a large number of industries, as well as rising capital expenditure are the factors expected to augment the growth of the heat exchanger market in the coming years, mainly post COVID 19 pandemic.

Most of the foremost company in the world is looking to forward to investing in the Asia Pacific owing to its more substantial consumer base and profitable opportunities. The Asia Pacific is termed to be one of the fastest-increasing regions in the world with the incidence of emerging economies such as China, India, Japan, and more.
Factors such as the swell in industrial operations in the developing countries and the installation of new power plants are liable to motivate the market in the assessment period. In fact, due to benefits such as low prices, the heat exchangers market is being used extensively across various industry verticals. In this, the power generation industry is the principal end-use industries for global heat exchangers market. Power generation, automotive Industries are yet other significant end-users for the heat exchangers market, indicated MRFR.

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On the contrary, a considerable surge in renewable energy, which rarely requires a heat exchanger, is likely to have a negative blow on the global heat exchange market for the assessment period.

Segmentation of Market

The global heat exchanger market is segmented among the segments of type and application.

In terms of type segment, the market has included plate, shell & tube, regenerative, and air-cooled. Shell & tube heat exchanger segment might lead the market, mainly in support of higher operating temperatures and pressure, ease of fault detection, the massive potential of heat transfer, free from erosion, and less pressure drop across the tube cooler.
In terms of the application segment, the market has further classified into oil & gas, chemicals, HVACR, power generation, food & beverages, and others. Heat exchangers are used in chemical process industries such as petrochemicals, polymers and plastics, agrochemicals, and pharmaceutical companies. Hence, the chemical segment grabs the largest market share in the heat exchanger market. The oil & gas industry also holds the second largest market share owing to a boost in refineries and mining machinery coolers.

Regional Front

The Asia Pacific region is the primary heat exchanger market in support of rising investments in chemical industries and escalating power generation capacity in countries such as Japan, China, and India. Hence, the growth of manufacturing, chemical, and construction industries in Asia-Pacific might lead the market growth during the assessment period. As per claims from World Nuclear Performance Report 2018, published by World Nuclear Association, projects that four reactor construction projects were commissioned by 2017 with a capacity of 4298 MW from countries such as India, Bangladesh, and South Korea. This signifies a considerable contribution from Asia-Pacific countries, which motivates the market demand for the heat exchange market. Hence, the global heat exchanger market generates a unique demand across verticals of industries for the application of heat exchanger, which brings the market development during the assessment period.

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Table Of Content

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market Size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat Of New Entrants

3.1.2 Bargaining Power Of Buyers


Industry Players

  • Kelvion Holdings Gmbh (Germany)
  • Alfa Laval AB (Sweden)
  • Danfoss A/S (Denmark)
  • Southern Heat Exchanger (U.S.)
  • Xylem Inc. (U.S.)
  • SPX Corporation (U.S.)
  • Gunter AG & Co. KG (Germany)
  • API Heat Transfer Inc. (U.S)
  • Hamon & Cie International SA (Belgium)
  • Sierra S.p.A (Italy)
  • Hughes Anderson Heat Exchangers (U.S.)
  • and Koch Heat Transfer Company (U.S.).

List Of Tables

Table 1 Global Heat Exchanger Market: By Region, 2020-2027

Table 2 North America Heat Exchanger Market: By Country, 2020-2027

Table 3 Europe Heat Exchanger Market: By Country, 2020-2027

Table 4 Asia-Pacific Heat Exchanger Market: By Country, 2020-2027

Table 5 Rest Of The World Heat Exchanger Market: By Country, 2020-2027

Table 6 Global Heat Exchanger Market By Type: By Regions, 2020-2027

Table 7 North America Heat Exchanger Market By Type: By Country, 2020-2027

Table 8 Europe Heat Exchanger Market By Type: By Country, 2020-2027

Table 9 Asia-Pacific Heat Exchanger Market By Type: By Country, 2020-2027

Table 10 Rest Of The World Heat Exchanger Market By Type: By Country, 2020-2027

Table 11 Global Heat Exchanger Market, By Applications, By Regions, 2020-2027

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Tags: Heat Exchanger Market, Heat Exchanger Market 2021, Heat Exchanger Market Share, Heat Exchanger Market Size

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