The global heat exchangers market size is estimated to be USD 15.3 billion in 2019 and is projected to reach USD 20.5 billion by 2024, at a CAGR of 6.0%, between 2019 and 2024. The increasing energy prices, rapid industrialization in APAC, and stringent government regulations on energy efficiency and CO2 emissions are some of the major factors driving the demand for heat exchangers globally.
Increasing government regulations, technological advances, and the demand for efficient use of energy have led various end-use industries to focus on energy saving, thus leading to an increase in the need for heat exchangers. Some of the major players operating in the heat exchangers market are Alfa Laval (Sweden), Kelvion Holdings (Germany), Danfoss (Denmark), Xylem (US), and Gunter (Germany).
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=750
Chemical segment to lead the heat exchangers market globally
The chemical segment led the heat exchangers market with the largest share in 2019. Heat exchangers have been successfully employed for years in the chemical industry to heat and cool base, intermediate, and final products. The high level of efficiency, productivity, and operational safety have made heat exchangers important equipment in chemical production processes. Expansion across the chemical industry in the emerging economies favors the market for heat exchangers. Specialty chemicals growing demand will have a positive impact on the heat exchangers market
The shell & tube type segment is expected to lead the heat exchangers market in 2019
Shell & tube heat exchangers are the most common types of heat exchangers used globally. They are extensively used as power condensers, preheaters, oil coolers, and steam generators. These types of heat exchangers are considered to be an ideal choice for heavy-duty applications, owing to their high efficiency. Increased government investments on commercial building & construction projects are driving the demand for HVACR equipment, which, in turn, is expected to drive the demand for shell & tube heat exchangers, globally.
Europe is estimated to account for the largest share of the heat exchangers market in 2019
Europe is a potential market for heat exchangers concerning demand and production capacity. This region has the presence of most global leaders operating in the heat exchangers market. The European region is the second-largest producer of chemical products globally, which favors the demand for heat exchangers in the region. Also, the presence of HVACR and power industry along with stringent energy efficiency regulations of the region to boost the demand for heat exchangers in Europe.
Key market players in the heat exchangers market
Alfa Laval (Sweden), Danfoss (Denmark), Kelvion Holdings (Germany), Guntner GmbH & Co. KG (Germany), Xylem (US), API Heat Transfer (US), Hindustan Dorr-Oliver (India), Hisaka Works (Japan), Chart Industries (US), and Johnson Controls International (Ireland) are key players operating in the heat exchangers market.
Request for Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=750
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Address:630 Dundee Road Suite 430
State: IL 60062
Country: United States