Heat Exchangers Global Market to Reach $28 Billion by 2030: Sustained Focus on Energy Efficiency in Modern Industrial Environments to Rev Up Opportunities for Heat Exchangers

Dublin, March 27, 2023 (GLOBE NEWSWIRE) -- The "Heat Exchangers: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Heat Exchangers estimated at US$17.5 Billion in the year 2022, is projected to reach a revised size of US$28 Billion by 2030, growing at a CAGR of 6% over the analysis period 2022-2030.

Shell & Tube Heat Exchangers, one of the segments analyzed in the report, is projected to record a 4.9% CAGR and reach US$6.5 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Cooling Towers segment is readjusted to a revised 6.2% CAGR for the next 8-year period.

The U.S. Market is Estimated at $3.9 Billion, While China is Forecast to Grow at 7.9% CAGR

The Heat Exchangers market in the U.S. is estimated at US$3.9 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$5 Billion by the year 2030 trailing a CAGR of 7.9% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 5.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5% CAGR.

Select Competitors (Total 675 Featured) -

• Air Products and Chemicals, Inc.
• Alfa Laval AB
• API Heat Transfer
• Balcke-Durr GmbH
• Barriquand Technologies Thermiques
• Danfoss A/S
• Doosan Corporation
• Enerquip, LLC
• FUNKE Warmeaustauscher Apparatebau GmbH
• Guntner U.S. LLC
• Hamon Group
• HISAKA WORKS, LTD.
• HRS Heat Exchangers Ltd.
• Johnson Controls International
• Kelvion Holding GmbH
• Koch Heat Transfer Company, LP
• McDermott International, Ltd.
• Mersen SA
• SmartHeat Inc.
• SPX Cooling Technologies, Inc.
• SPX FLOW, Inc.
• SWEP International AB
• Tranter, Inc.
• Vahterus Oy
• Xylem Inc.

What`s New for 2023?

• Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and Research Platform
• Complimentary updates for one year

Key Attributes:

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Impact of COVID-19 Pandemic and Looming Global Recession: 2020 Marked as a Year of Disruption & Transformation
• World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
• Weak Global Economic Environment Dents Market Prospects
• Business Climate Indicator in the Euro Area for the Period September 2020 to August 2021
• HVAC Systems with Filtration: Relevant Answer to Tough COVID-19 Test
• Heat Exchangers and Boilers to Play Crucial Role amid COVID-19 Pandemic
• The Crisis Opens Floodgates of Real Opportunities for Steam & Boiler Industry
• An Introduction to Heat Exchangers
• Product Groups
• Product Types and Segments
• End-Use Market: A Brief Note
• Key End-Use Industries for Heat Exchangers
• Heat Exchangers: The Most Important & Ubiquitous Process Equipment in Industries
• Global Heat Exchangers Market: Overview and Outlook
• Playing Instrumental Role in Numerous Industries
• Sophisticated Design Options for Next-Generation, Eco-Friendly Heat Exchangers
• 3D Printing Unfolds Exciting Design Opportunities for Heat Exchangers
• Segment Overview: Growing Need for Advanced Equipment Augurs Well for Shell & Tube Heat Exchanger Market
• Strong Demand from End-Use Verticals Enables Heat Exchanger Market to Maintain Positive Trajectory in Long Term
• Chemical Industry Commands Major Share
• Oil & Gas Remains Major Application Segment for Heat Exchangers
• Regional Analysis: Europe Secures Commanding Position in Global Heat Exchanger Market
• World Heat Exchangers Market (2021 & 2027): Percentage Breakdown of Sales for Developed and Developing Regions
• World Heat Exchangers Market - Geographic Regions Ranked by Value CAGR for 2020-2027: China, Asia-Pacific, Latin America, Rest of World, USA, Canada, Europe, and Japan
• Competitive Scenario
• HVAC Companies Adapt Strategies to Navigate Unsettling Phase of COVID-19
• Leading Players in the Global Plate Heat Exchangers Market (2020): Percentage Share Breakdown of Revenues for Alfa Laval and Others
• Leading Players in the Global Compact Heat Exchangers Market (2020): Percentage Value Breakdown by Company
• Recent Market Activity
• Select Global Brands
• Heat Exchangers - Global Key Competitors Percentage Market Share in 2022 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Sustained Focus on Energy Efficiency in Modern Industrial Environments to Rev Up Opportunities for Heat Exchangers
• Growing Popularity of Energy Audits to Help Identify Saving Opportunities & the Resulting Increased Spending on Energy Efficiency to Benefit Demand for Energy Efficient Heat Exchangers: Global Investments in Energy Efficiency (In US$ Billion) for the Years 2016 and 2019 by Region
• Undeniable Productivity Benefits of Industrial Energy Efficiency Measures to Spur the Commercial Value of Energy Efficient Heat Exchangers: Global Investments in Energy Efficiency (In US$ Billion) for the Years 2016 and 2019 by Industry
• Energy Efficiency & Cost Savings Step Up Market Opportunities for Compact Heat Exchangers
• Energy Efficiency Benefits Drive Migration from Shell & Tube to Plate Heat Exchangers
• Despite Slowdown in Demand, Chemical Industry to Remain the Dominant Consumer of Heat Exchangers
• Projected Stability in Capital Spending in the Chemical Industry Provides Opportunities for New and Replacement Demand for Heat Exchangers: CAPEX in the World Chemical Industry (In US$ Billion) for the Years 2018, 2021 and 2023
• World Chemical Industry Revenues (in %) by Segment for the Year 2021
• Critical Role of Heat Exchangers in the Power Generation/Utilities Sector Augurs Well
• Continued Dominance of Coal & Move to Clean Coal Technologies to Drive the Importance of Heat Exchangers in Enabling Plant Efficiency & Emission Reduction
• Focus on Heat Recovery & Utilization of Sensible and Latent Heat from Flue Gas to Drive the Value of Heat Exchangers in Coal Fired Power Plants Against the Backdrop of Robust Outlook for Clean Coal Power: Global Thermal Power Generated from Coal (In Billion Kilowatt-hours) by Region for the Years 2018 and 2024
• Focus on Renewable Energy: A Double Win for Heat Exchangers in the Energy Sector
• Targets for Electricity Production from Renewable Energy Sources in Select Countries
• Leading Countries with Renewable Energy as % of total Energy
• Robust Outlook for Renewables to Echo Downstream Into the Heat Exchangers Market: World Renewable Energy Production (In Billion Kilowatt Hours) by Energy Source for the Years 2017, 2020, 2030 and 2040
• Expected Revival of Nuclear Energy to Drive Opportunities in the Heat Exchangers Market
• With Over 500 Operational & Under Construction Nuclear Reactors, Demand for Heat Exchangers in Nuclear Power Plants is Poised for Growth in the Medium to Long Term Period: Global Number of Nuclear Reactors in Operation & Under Construction (In Units) by Geographic Region for the Year 2018
• Volatile Oil Prices Revive the Emphasis on Productivity & Capital Efficiency in O&G Industry
• As Oil Companies Scramble to be Better Prepared for the Next Price Crash, Innovative Heat Exchangers Capable of Providing Value Via Production Improvements & Efficiencies Will be the Only Ones to Gain in the Volatile Market Environment: Global Prices of Brent Crude (In US$ Per Barrel) for the Years 2012 through 2021
• Structural Shocks & the Ensuing Permanent Break in Oil Prices to Push Demand for Underwater Heat Exchangers
• Medley of Factors Dole Out Challenges & Opportunities in Equal Measure for the Global Oil Refining Market
• With Growth Skewed Towards Alternative Liquid Fuels, Oil Refineries Face a High Risk Exposure as the Oil Shake Up Marks the Transition Towards a Low Carbon Economy: Global Liquid Fuel Cumulative Demand Growth (In '000 Barrels per Day) by Type for the Years 2018, 2021 & 2023
• Healthy Market for Processed Food to Benefit Demand for Heat Exchangers in the Food Processing Sector
• As the Hidden Workhorses of Heating and Cooling in the Food & Beverage Industry, Demand for Heat Exchangers Benefits from the Growing Demand for Packaged Food: World Retail Market for Food & Beverages (in US$ Trillion) for the Years 2019 & 2023
• Plate Heat Exchangers Struggle with Poor Maintenance & Low Utilization Rates in Food Industry
• Transformative Heat Exchanger Technology Bonanza for Dairy Processing Industry
• Stringent Wastewater Treatment Laws Provide Fertile Ground for Heat Exchanger Sales
• Growing Industrial Effluent Discharge Coupled With the Massive Water Reuse Opportunity Provided by the Emerging Circular Economy Offers Lucrative Opportunities for Heat Exchangers in the Wastewater Treatment Industry: Volume of Industrial Wastewater Generated in the U.S & Europe (In 000 m3 (Cubic Meters)) for the Year 2018
• Shortage of Freshwater Spurs Land Based Use of Seawater Heat Exchangers
• Declining Freshwater Availability Throws the Technology Focus on Seawater Heat Exchangers: Per Capita Availability of Water in Select Countries (In '000 m3) for Years 1975, 2000 & 2025
• Water Shortages to Drive Demand for Air Coolers
• Heat Exchangers Find Increased Acceptance in Marine Industry
• Heat Exchangers Remain Critical Elements of Modern Data Centers
• Mining Industry Trends Continue to Discourage Heat Exchangers Market
• Labor Presents the Most Significant Downside Risk for the Mining Industry in the Form of Increased Production Costs: Production Cost Breakdown of Mining Projects (In %) for the Year 2020
• Innovations in Cooling Tower Design and Technology Crucial to Future Market Growth
• Supportive Innovative Technologies of Heat Exchangers
• Artificial Intelligence (AI) Makes Its Revolutionary Presence Felt in the Heat Exchangers Market
• Growing Prominence of Robotic & Intelligent Process Automation in the Era of Smart Factories to Drive the Commercial Value of AI Based Heat Exchanger Control & Monitoring: Global Spending on Robotic Process Automation & Intelligent Process Automation (In US$ Million) for the Years 2016, 2018, 2020 and 2022
• Next-generation Factory Assembled Cooling Towers to Positively Impact Bottom Line of HVAC and Industrial Processes
• Advancements in Plume Abatement Technologies and Drift Eliminators Address Environmental Concerns to Drive Healthy Demand
• New Design and Material Innovations Increase Cooling Efficiency
• Innovation in Heat Exchanger Flow Patterns, Fins & Grooves Infuse Vigor in the Market
• R&D Focus on Material Science Helps Leverage Benefits of Newer Raw Materials
• Select Innovations
• Focus on Intelligent Maintenance & Continuous Monitoring of Heat Exchangers Drives Opportunities for Replacement Demand
• A Note on Industry Standards and Codes
• Duct Cleaning and Air Conditioning Do Not Affect COVID-19 Transmission
• Trends Linked to Heat Exchanger Technology Set New Standards in Energy Efficiency
• Issues & Challenges
• F-Gas Regulations
• Low Awareness about Benefits of Building Energy Efficiency
• Pricing and Distribution
• Pricing Behavior by Product Segment
• Steel as Raw Material Dominates
• Pricing Behavior by End-Use Segment

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/c2sfci

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• Global Market for Heat Exchangers