Latin America Heat Exchanger Market 2024

Latin America Heat Exchanger Market 2024

The heat exchanger industry in Latin America is anticipated to achieve USD 545 million by 2029, reflecting a low CAGR of 3.8% from 2024 to 2029. Latin America is experiencing an increase in government investments in countries such as Mexico, Chile, Argentina, and Brazil aimed at improving existing power-generation infrastructure. Brazil, in particular, dominates the automotive heat exchanger market as it ranks among the top five car markets globally and serves as a major base of operations for many automakers.

The Latin America heat exchanger market is segmented by product type, including cooling tower, air-cooled, shell & tube, gasketed plate, and others, for their respective time periods. In 2023, the cooling tower segment emerged as the dominant player in the market, holding a substantial share of 27.0%. The valuation of the cooling tower segment in 2023 was USD 123 million, and it is projected to reach USD 144 million by 2029. On the other hand, the others segment, which includes fully-welded plate heat exchangers, brazed plate heat exchangers, and other types, is expected to exhibit the highest Compound Annual Growth Rate (CAGR) during the forecast period from 2024 to 2029.

The Latin America heat exchanger market can be further categorized in terms of revenue by various end-use industries, including oil & gas, petrochemical, food & beverage, electricity generation, HVACR, and others (mineral, water treatment, data center, shipbuilding, pharmaceuticals, paper, engineering, etc.), for the respective periods. Among these segments, the oil & gas industry holds the largest share in the Latin America heat exchanger market. It is expected that this segment will continue to grow and reach a valuation of USD 165 million by 2029, representing a CAGR of 3.5% from 2024 to 2029.

Brazil emerged as the largest country in terms of market share in the Latin America heat exchanger market in 2023. The prominent players operating in the Latin America heat exchanger market include Alfa Laval AB, Argenfrio S.A.I.C., Baltimore Aircoil Company, Kelvion Holding GmbH, Reymsa Cooling Towers, Inc., SPX Flow, 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: Brazil and Rest of Latin America.