Heat Exchangers Market Size, Share & Trends Analysis Report By Product (Plate & Frame Heat Exchanger,Shell & Tube Heat Exchanger), By End-use (Chemical & Petrochemical, HVAC & Refrigeration), By Region, And Segment Forecasts, 2024 - 2030

Heat Exchangers Market Size, Share & Trends Analysis Report By Product (Plate & Frame Heat Exchanger,Shell & Tube Heat Exchanger), By End-use (Chemical & Petrochemical, HVAC & Refrigeration), By Region, And Segment Forecasts, 2024 - 2030


Heat Exchangers Market Growth & Trends

The global heat exchangers market size is expected to reach USD 26.3 billion by 2030, registering at a CAGR of 5.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rising demand from various industries, including chemical & petrochemical, and power generation, along with an increasing focus on improving efficiency standards is expected to drive the market.

The presence of favorable government regulations in the emerging economies of China, India, Brazil, and Mexico about setting up new manufacturing facilities is expected to spur the demand for heat exchangers in various industries. In addition, upcoming nuclear power projects, particularly in the Asia Pacific, are anticipated to drive market growth during the forecast period.

Technological advancements coupled with constant efforts and investments by major market participants in product innovation and research & development are expected to increase the market competitiveness over the coming years. The adoption of novel techniques of additive manufacturing in the production of heat exchangers is likely to complement industrial growth.

The COVID-19 pandemic has severely impacted several economies worldwide. Containment measures, including lockdowns imposed by various countries to curb the spread of COVID-19, have resulted in limiting the operations of manufacturing facilities, thereby negatively impacting the demand for heat exchangers in 2020.

Heat Exchangers Market Report Highlights
  • The demand for plate & frame heat exchangers is anticipated to witness growth at a CAGR of 5.8% from 2024 to 2030 on account of its simple & compact structure coupled with their ability to increase capacity easily by adding new plates to the system
  • The shell & tube segment led the market and accounted for 35.6% of the global revenue in 2023
  • Asia Pacific heat exchanger demand is likely to grow at a CAGR of 6.5% over the forecast period
  • The demand for heat exchangers in Saudi Arabia is expected to witness a CAGR of 4.5% owing to the presence of a robust oil & gas industry coupled with the growth in the manufacturing sector attributed to the government’s diversification efforts
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Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumption
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Heat Exchanger Market Variables, Trends & Scope
3.1. Market Segmentation & Scope
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.5.3. Industry Challenges
3.6. Business Environment Analysis
3.6.1. Industry Analysis - Porter’s
3.6.1.1. Supplier Power
3.6.1.2. Buyer Power
3.6.1.3. Threat of Substitutes
3.6.1.4. Threat of New Entrant
3.6.1.5. Competitive Rivalry
3.6.2. PESTEL Analysis
3.6.2.1. Political Landscape
3.6.2.2. Environmental Landscape
3.6.2.3. Social Landscape
3.6.2.4. Technology Landscape
3.6.2.5. Economic Landscape
3.6.2.6. Legal Landscape
Chapter 4. COVID-19 Impact Analysis
Chapter 5. Heat Exchanger Market - Product Estimates & Trend Analysis
5.1. Heat Exchanger Market: Product Movement Analysis & Market Share, 2023 & 2030
5.2. Plate & Frame Heat Exchanger
5.2.1. Market Estimates & Forecasts, 2018 - 2030 (USD Million)
5.2.2. Plate & Frame Heat Exchanger Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
5.3. Shell & Tube Heat Exchanger
5.3.1. Market Estimates & Forecasts, 2018 - 2030 (USD Million)
5.4. Air-Cooled Heat Exchanger
5.4.1. Market Estimates & Forecasts, 2018 - 2030 (USD Million)
5.5. Others
5.5.1. Market Estimates & Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Heat Exchanger Market - End-Use Estimates & Trend Analysis
6.1. Heat Exchanger Market: End-Use Movement Analysis & Market Share, 2023 & 2030
6.2. Chemical & Petrochemical
6.2.1. Market Estimates & Forecasts, 2018 - 2030 (USD Million)
6.3. Oil & Gas
6.3.1. Market Estimates & Forecasts, 2018 - 2030 (USD Million)
6.4. HVAC & Refrigeration
6.4.1. Market Estimates & Forecasts, 2018 - 2030 (USD Million)
6.5. Power Generation
6.5.1. Market Estimates & Forecasts, 2018 - 2030 (USD Million)
6.6. Food & Beverage
6.6.1. Market Estimates & Forecasts, 2018 - 2030 (USD Million)
6.7. Pulp & Paper
6.7.1. Market Estimates & Forecasts, 2018 - 2030 (USD Million)
6.8. Others
6.8.1. Market Estimates & Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Heat Exchanger Market - Regional Estimates & Trend Analysis
7.1. Heat Exchanger Market: Regional Movement Analysis, 2023 & 2030
7.2. North America
7.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.2.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.2.2.1. Plate & frame heat exchanger market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.2.3. Market estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
7.2.4. U.S.
7.2.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.2.4.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.2.4.2.1. Plate & frame heat exchanger market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.2.4.3. Market estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
7.2.5. Canada
7.2.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.2.5.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.2.5.2.1. Plate & frame heat exchanger market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.2.5.3. Market estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
7.2.6. Mexico
7.2.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.2.6.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.2.6.2.1. Plate & frame heat exchanger market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.2.6.3. Market estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
7.3. Europe
7.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.3.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.3.2.1. Plate & frame heat exchanger market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.3.3. Market estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
7.3.4. Germany
7.3.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.3.4.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.3.4.2.1. Plate & frame heat exchanger market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.3.4.3. Market estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
7.3.5. France
7.3.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.3.5.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.3.5.2.1. Plate & frame heat exchanger market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.3.5.3. Market estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
7.3.6. Italy
7.3.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.3.6.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.3.6.2.1. Plate & frame heat exchanger market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.3.6.3. Market estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
7.4. Asia Pacific
7.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.4.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.4.2.1. Plate & frame heat exchanger market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.4.3. Market estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
7.4.4. China
7.4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.4.4.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.4.4.2.1. Plate & frame heat exchanger market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.4.4.3. Market estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
7.4.5. Japan
7.4.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.4.5.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.4.5.2.1. Plate & frame heat exchanger market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.4.5.3. Market estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
7.4.6. India
7.4.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.4.6.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.4.6.2.1. Plate & frame heat exchanger market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.4.6.3. Market estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
7.5. Central & South America
7.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.5.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.5.2.1. Plate & frame heat exchanger market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.5.3. Market estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
7.5.4. Brazil
7.5.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.5.4.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.5.4.2.1. Plate & frame heat exchanger market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.5.4.3. Market estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
7.6. Middle East & Africa
7.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.6.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.6.2.1. Plate & frame heat exchanger market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.6.3. Market estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
7.6.4. Saudi Arabia
7.6.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.6.4.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.6.4.2.1. Plate & frame heat exchanger market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.6.4.3. Market estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
7.6.5. UAE
7.6.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.6.5.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.6.5.2.1. Plate & frame heat exchanger market estimates and forecasts, by product, 2018 - 2030 (USD Million)
7.6.5.3. Market estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
Chapter 8. Competitive Analysis
8.1. Key Global Players & Recent Developments & Their Impact on the Industry
8.2. Key Company/Competition Categorization
8.3. Vendor Landscape
8.4. Company Dashboard Analysis
8.5. Public Companies
8.5.1. Company Market Position Analysis
8.6. Private Companies
8.6.1. List of Key Emerging Companies and Their Geographical Presence
Chapter 9. Company Profiles
9.1. Alfa Laval
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Benchmarking
9.1.4. Strategic Initiatives
9.2. Danfoss
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Product Benchmarking
9.2.4. Strategic Initiatives
9.3. Kelvion Holding GmbH
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Product Benchmarking
9.3.4. Strategic Initiatives
9.4. Güntner Group GmbH
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Product Benchmarking
9.4.4. Strategic Initiatives
9.5. Xylem Inc.
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Product Benchmarking
9.5.4. Strategic Initiatives
9.6. API Heat Transfer
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. Product Benchmarking
9.6.4. Strategic Initiatives
9.7. Mersen
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Product Benchmarking
9.7.4. Strategic Initiatives
9.8. Hisaka Works, Ltd.
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. Product Benchmarking
9.8.4. Strategic Initiatives
9.9. Chart Industries, Inc.
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. Product Benchmarking
9.9.4. Strategic Initiatives
9.10. Johnson Controls International
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. Product Benchmarking
9.10.4. Strategic Initiatives
9.11. HRS Heat Exchangers
9.11.1. Company Overview
9.11.2. Financial Performance
9.11.3. Product Benchmarking
9.11.4. Strategic Initiatives
9.12. SPX FLOW, Inc.
9.12.1. Company Overview
9.12.2. Financial Performance
9.12.3. Product Benchmarking
9.12.4. Strategic Initiatives
9.13. Funke Wärmeaustauscher Apparantebau GmbH
9.13.1. Company Overview
9.13.2. Financial Performance
9.13.3. Product Benchmarking
9.13.4. Strategic Initiatives
9.14. Koch Heat Transfer Company
9.14.1. Company Overview
9.14.2. Financial Performance
9.14.3. Product Benchmarking
9.14.4. Strategic Initiatives
9.15. Southern Heat Exchanger Corporation
9.15.1. Company Overview
9.15.2. Financial Performance
9.15.3. Product Benchmarking
9.15.4. Strategic Initiatives

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