Heat Exchanger Market Size, Share, Growth Rate, Key Players Global Analysis and Outlook To 2023

Market Overview:-

According to a recent study report published by the Market Research Future, The global market of heat exchanger is booming and expected to gain prominence over the forecast period. The Global Heat Exchanger market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, CAGR of 8.2% during the estimated period (2017 – 2023).

Heat exchanger are devices whose primary responsibility is the transfer or exchange of heat from one medium to another. Heat exchanger are not only used in heating applications but are also used in cooling applications such as refrigerators and air conditioners. It is largely used in power plants, chemical plants, natural gas processing, sewage treatment, and petroleum refineries. The Global Heat Exchanger Market is growing with the rapid pace; mainly due to growing demand from chemical as well as natural gas processing industry

 

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Industry Major Key Players:-

The major player operating in the market of global heat exchanger are  Alfa Laval AB (Sweden), Kelvion Holdings Gmbh (Germany), Southern Heat Exchanger (U.S.), Danfoss A/S (Denmark), SPX Corporation (U.S.), Xylem Inc. (U.S.), API Heat Transfer Inc. (U.S), Gunter AG & Co. KG (Germany), Sierra S.p.A (Italy), and Hamon & Cie International SA (Belgium), Koch Heat Transfer Company (U.S.), and Hughes Anderson Heat Exchangers (U.S.).

 

Market Segmentations:-

The heat exchangers market is segmented on the basis of type, application, and region. Based on the type, the market is further segmented into shell & tube, plate, regenerative, and air cooled. Amongst these, shell & tube heat exchanger is dominating the market share due to its competitive advantages such as relatively high efficiency, huge potential for heat transfer, low-pressure drops, easy maintenance and repair, reduced wear-outs, and erosion prevention. Besides the shell & tube heat exchangers are economically feasible over regenerative and air cooled heat exchangers and possess better drainage properties. On the basis of application, the heat exchangers market is further classified into chemicals, oil & gas, power generation, HVACR, food & beverages, and others. Chemicals segment hold the largest market share in the heat exchangers market due to their high importance in reaction systems, which involve reactors, purification systems, and distillation columns. Oil & gas industry also holds strong market share, owing to refineries drawing out advantage from different boiling points of different end products of crude oil.   

 

Industry News:-

Modine Manufacturing Company, a diversified global leader in thermal management technology and solutions, announced the completion of its previously disclosed agreement to purchase Luvata Heat Transfer Solutions (HTS). The agreement to acquire the company was announced on September, 2016. The purchase price was approximately USD 418 million.

In April 2017, Wabtec Corporation has acquired Thermal Transfer Corp., a supplier of industrial heat exchangers.  The company has annual sales of about USD 25 million.

 In November 2017, US-based LNG equipment provider Chart Industries completed the acquisition of the heat transfer solutions company, Hudson Products, for USD 410 million.

 

Major Points of Table Of Content:-

1 Executive Summary

2 Scope Of The Report

3 Market Landscape

4 Market Dynamics

 

5 Global Heat Exchangers Market, By Type

5.1 Introduction

5.2 Shell & Tube

5.2.1 Market Estimates & Forecast, 2018-2023

5.2.2 Market Estimates & Forecast By Region, 2018-2023

5.3 Regenerative

5.3.1 Market Estimates & Forecast, 2018-2023

5.3.2 Market Estimates & Forecast By Region, 2018-2023

5.4 Plate

5.4.1 Market Estimates & Forecast, 2018-2023

5.4.2 Market Estimates & Forecast By Region, 2018-2023

5.5 Air Cooled

5.5.1 Market Estimates & Forecast, 2018-2023

5.5.2 Market Estimates & Forecast By Region, 2018-2023

Continued………….

 

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Global Heat Exchanger Market - Regional Analysis

Asia Pacific region is expected to witness the highest growth during the forecast period. China, India, Japan, Australia and Indonesia are among the major markets for Heat Exchanger in the Asia Pacific region. Rapid industrialization and urbanization driving the growth of the market in the region. Middle East is also the major market for the heat exchanger mainly due to growth in use in the refineries in Middle East

European region dominates the global Heat Exchanger Market. It is one of the leading region for plate & frame heat exchangers with respect to demand as well as production capacity. In Europe, Germany, U.K., and France are major contributors for the growth of the market. Additionally, it is the home of major heat exchanger manufacturers such as Kelvion Holdings Gmbh, Gunter AG & Co. KG and others.

 

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