Global Heat Exchanger Market Growth 2025-2031

The global Heat Exchanger market size is predicted to grow from US$ 16610 million in 2025 to US$ 23580 million in 2031; it is expected to grow at a CAGR of 6.0% from 2025 to 2031.

Heat Exchangers is a piece of equipment built for efficient heat transfer from one medium to another. Heat exchangers are devices whose primary responsibility is the transfer (exchange) of heat, typically from one fluid to another. However, they are not only used in heating applications, such as space heaters, but are also used in cooling applications, such as refrigerators and air conditioners.

Global Heat Exchanger key players include Alfa Laval, Kelvion (GEA), SPX, IHI, Danfoss (Sondex) etc. Global top five manufacturers hold a share over 35%. Asia-Pacific is the largest market, with a share over 30%, followed by North America and Europe, both have a share over 50% percent.

In terms of product, Shell & Tube Heat Exchanger is the largest segment, with a share over 30%. And in terms of application, the largest application is Petrochemical, followed by Electric Power & Metallurgy.

LP Information, Inc. (LPI) ' newest research report, the “Heat Exchanger Industry Forecast” looks at past sales and reviews total world Heat Exchanger sales in 2024, providing a comprehensive analysis by region and market sector of projected Heat Exchanger sales for 2025 through 2031. With Heat Exchanger sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Heat Exchanger industry.

This Insight Report provides a comprehensive analysis of the global Heat Exchanger landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Heat Exchanger portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Heat Exchanger market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Heat Exchanger and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Heat Exchanger.

This report presents a comprehensive overview, market shares, and growth opportunities of Heat Exchanger market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Shell & Tube Heat Exchanger
Plate Heat Exchanger
Air Cooled Heat Exchanger
Other Types

Segmentation by Application:
Petrochemical
Electric Power & Metallurgy
Shipbuilding Industry
Mechanical Industry
Central Heating
Food Industry
Other Applications

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Alfa Laval
Kelvion (GEA)
SPX
IHI
Danfoss (Sondex)
SPX-Flow
DOOSAN
API
KNM
Funke
Xylem
Thermowave
Hisaka
SWEP
LARSEN & TOUBRO
Accessen
THT
Hitachi Zosen
LANPEC
Siping ViEX
Beichen
Lanzhou LS
Defon
Ormandy
FL-HTEP

Key Questions Addressed in this Report

What is the 10-year outlook for the global Heat Exchanger market?

What factors are driving Heat Exchanger market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Heat Exchanger market opportunities vary by end market size?

How does Heat Exchanger break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.