Dublin, April 07, 2023 (GLOBE NEWSWIRE) -- The "Heat Exchanger Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global heat exchanger market size reached US$ 17.5 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 24.8 Billion by 2028, exhibiting a CAGR of 5.98% during 2022-2028.
The high affordability and efficiency of the product, increasing integration in automobiles to reduce the production of vehicular exhausts, and the growing construction of new power plants represent some of the key factors driving the market.
Heat Exchanger Market Trends:
At present, the increasing demand for heat exchangers due to their high working efficiency and affordability represents one of the primary factors influencing the market positively.
Besides this, the rising utilization of heat exchangers in chemical and pharmaceutical industries to condensate chemicals and control the temperature of sensitive and corrosive liquids is propelling the growth of the market. In addition, the growing integration of heating, ventilation, and air conditioning (HVAC) systems in various residential and commercial buildings to regulate indoor temperatures is offering a favorable market outlook.
Apart from this, the increasing employment of heat exchangers in oil refining to condensate, heat, and cool solvents, chemicals, and various hydrocarbons is contributing to the growth of the market. Additionally, the rising utilization of heavy equipment in industrial operations is supporting the market growth.
Moreover, governing agencies of numerous countries are undertaking initiatives to open new power plants powered by steam and gas turbines to fulfill the demand for power in the residential and industrial sectors. Furthermore, the increasing utilization of heat exchangers in automobiles to reduce the production of vehicular exhausts is bolstering the market growth.
Key Market Segmentation:
The analyst provides an analysis of the key trends in each sub-segment of the global heat exchanger market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, material and end-use industry.
Type Insights:
- Shell & Tube
- Plate & Frame
- Air Cooled
- Others
The report has provided a detailed breakup and analysis of the heat exchanger market based on the type. This includes shall and tube, plate and frame, air cooled, and others. According to the report, shell and tube represented the largest segment.
Material Insights:
- Carbon Steel
- Stainless Steel
- Nickel
- Others
A detailed breakup and analysis of the heat exchanger market based on the material has also been provided in the report. This includes carbon steel, stainless steel, nickel, and others. According to the report, stainless steel accounted for the largest market share.
End-Use Industry Insights:
- Chemical
- Petrochemical and Oil & Gas
- HVAC and Refrigeration
- Food & Beverage
- Power Generation
- Paper & Pulp
- Others
A detailed breakup and analysis of the heat exchanger market based on the end-use industry has also been provided in the report. This includes chemical, petrochemical and oil and gas, HVAC and refrigeration, food and beverage, power generation, paper and pulp, and others. According to the report, chemical accounted for the largest market share.
Regional Insights:
- North America
- United States
- Canada
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Others
- Middle East and Africa
- Turkey
- Saudi Arabia
- Iran
- United Arab Emirates
- Others
Key Questions Answered in This Report
1. What was the size of the global heat exchanger market in 2022?
2. What is the expected growth rate of the global heat exchanger market during 2023-2028?
3. What are the key factors driving the global heat exchanger market?
4. What has been the impact of COVID-19 on the global heat exchanger market?
5. What is the breakup of the global heat exchanger market based on the type?
6. What is the breakup of the global heat exchanger market based on the material?
7. What is the breakup of the global heat exchanger market based on the end-use industry?
8. What are the key regions in the global heat exchanger market?
9. Who are the key players/companies in the global heat exchanger market?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
5 Global Heat Exchanger Market
6 Market Breakup by Type
7 Market Breakup by Material
8 Market Breakup by End-Use Industry
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Indicators
14 Competitive Landscape
Companies Mentioned
- Alfa Laval
- API Heat Transfer Inc.
- Danfoss
- General Electric Company
- Hisaka Works Ltd.
- IHI Corporation
- Johnson Controls
- Kelvion Holding GmbH
- Koch Industries Inc.
- Lytron Inc.
- Mersen Corporate Services SAS
- Modine Manufacturing Company
- Royal Hydraulics
- Sondex A/S
- Xylem Inc.
For more information about this report visit https://www.researchandmarkets.com/r/618xza
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
