Global Heat Exchangers Market 2024

Global Heat Exchangers Market 2024

According to the latest data, the market size of the global heat exchangers sector is expected to rise by USD 6.2 billion with a CAGR of 5.6% by the end of 2030. The heat exchangers market is largely driven by the rising demand for energy efficiency across industrial processes. As industries seek to reduce energy consumption and operational costs, the adoption of advanced heat exchanger technologies has become increasingly critical. These systems play a pivotal role in optimizing thermal management, which is essential for enhancing overall process efficiency in sectors such as power generation, chemical processing, and HVAC.

Moreover, the shift towards renewable energy sources and sustainable practices is further fueling market growth. The integration of heat exchangers in renewable energy systems, such as solar and geothermal power plants, is becoming more prevalent as companies aim to lower carbon footprints and comply with stringent environmental regulations. This trend underscores the growing importance of heat exchangers in achieving both economic and environmental objectives in the modern industrial landscape.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the product type, end user, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

The global heat exchangers market has been extensively analyzed by categorizing it according to various sub-segments in order to provide accurate forecasts of industry size and assess trends within specific areas.

The global market for heat exchangers can be segmented by product type: air-cooled, all-welded plate, brazed plate, cooling tower systems, gasketed plate and frame, shell and tube. The cooling tower systems segment is estimated to account for the largest share of the global heat exchangers market.

Heat exchangers market is further segmented by end user: chemicals, food and beverages, HVAC and refrigeration, marine, mining, oil and gas, pharmaceuticals, power generation, water and wastewater treatment, others. The chemicals and petrochemicals segment held the largest revenue share in 2023.

Based on region, the heat exchangers market is segmented into: Asia-Pacific, Europe, Middle East and Africa (MEA), North America, South America. Globally, Asia-Pacific made up the largest share of the heat exchangers market.

The report has also analyzed the competitive landscape of the global heat exchangers market with some of the key players being Alfa Laval AB, API Heat Transfer Inc., Argenfrio S.A.I.C., BALCKE-DÜRR GmbH, Baltimore Aircoil Company, Boyd Corporation, Chart Industries, Inc., Danfoss A/S, Graham Corporation, Hamon & Cie (International) SA, HISAKA WORKS, LTD., Johnson Controls International plc, Kelvion Holding GmbH, Kinam Engineering Industries Pvt. Ltd., Lanpec Technologies Limited, Lanzhou LS Heat Exchange Equipment Co., Ltd., Paharpur Cooling Towers Private Limited, Paul Mueller Company, REYMSA Cooling Towers, Inc., Shuangliang Eco-Energy Systems Co., Ltd., SPX FLOW, Inc. , Sunpower Group Ltd., Swep International A.B. (Dover Corporation), Tranter Inc., Vahterus Oy, Wuxi Hongsheng Heat Exchanger Manufacturing Co., Ltd., Xylem Inc., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

Why Choose This Report

Gain a reliable outlook of the global heat exchangers market forecasts from 2024 to 2030 across scenarios.

Identify growth segments for investment.

Stay ahead of competitors through company profiles and market data.

The market estimate for ease of analysis across scenarios in Excel format.

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Market Segments Covered in Global Heat Exchangers Industry Analysis:

i.) Product type

• Air-cooled
• All-welded plate
• Brazed plate
• Cooling tower systems
• Gasketed plate and frame
• Shell and tube

ii.) End user

• Chemicals
• Food and beverages
• HVAC and refrigeration
• Marine
• Mining
• Oil and gas
• Pharmaceuticals
• Power generation
• Water and wastewater treatment
• Others

iii.) Region

• Asia-Pacific
• Europe
• Middle East and Africa (MEA)
• North America
• South America