Europe Heat Exchanger Market 2024

Europe Heat Exchanger Market 2024

Europe heat exchanger market grew at a CAGR of 4.0% from 2020 to 2023, according to Tanalyze, the market size in terms of revenue was USD 4,851 million in 2023. European companies are embracing heat exchangers as a means to mitigate the threat of global warming, creating lucrative opportunities in the market. The growing demand for centralized heating systems in the commercial and residential sectors further contributes to the industry's significant growth.

The heat exchanger market can be categorized into five product types, namely cooling tower, air-cooled, shell & tube, gasketed plate, and others. The others segment is anticipated to attain a remarkable growth rate of 6.6% over the forecast period from 2024 to 2029, ultimately reaching a revenue of USD 1,181 million by 2029.

Europe heat exchanger industry can be categorized into six major segments in terms of fields of end-user: oil & gas, petrochemical, food & beverage, electricity generation, HVACR (heat, ventilation, air conditioning, and refrigeration), and others (mineral, water treatment, data center, shipbuilding, pharmaceuticals, paper, engineering, etc.). Among the above segments, food & beverage is expected to be the fastest-growing one according to Tanalyze. The size of Europe food & beverage market in terms of revenue is estimated to grow to USD 691 million in 2029, with a CAGR of 5.9%.

In 2023, the Europe heat exchanger market was dominated by four countries: Germany, Italy, France, and the United Kingdom. These countries collectively held a significant share of 58.1% in the market.

The prominent players operating in the Europe heat exchanger market include Alfa Laval AB, Astra Refrigeranti S.p.A., Balcke-Dürr GmbH, Baltimore Aircoil Company, Boyd Corporation, Danfoss A/S, Graham Corporation, Guentner GmbH & Co KG, HRS Heat Exchangers Limited, Johnson Controls International plc, Kelvion Holding GmbH, Paul Mueller Co., Spirax-Sarco Engineering plc, SPX Flow, Inc., SWEP International AB, Tranter, Inc., Vahterus Oy, WCR, Inc., Xylem, Inc., and others.

This study aims to analyze the global market for various segments of heat exchanger, including:

Product Type: Cooling Tower, Air-Cooled, Shell & Tube, Gasketed Plate, and Others.
End-User: Oil & Gas, Petrochemical, Food & Beverage, Electricity Generation, HVACR (Heat, Ventilation, Air Conditioning, and Refrigeration), and Others (Mineral, Water Treatment, Data Center, Shipbuilding, Pharmaceuticals, Paper, Engineering, etc.).
Region: Germany, France, UK, Italy, and Rest of Europe.