Heat Exchanger Market Expected to Expand Significantly at a CAGR of 8.2% from 2017 to 2023

“Heat Exchanger Market”
Global Heat Exchanger Market, By Type (Shell and Tube Heat Exchanger, Plate Heat Exchanger, Regenerative Heat Exchanger, Air cooled), By Application (Chemicals, Oil & Gas, Power Generation, HVACR, Food & Beverages and Other) – Forecast 2017-2023

Market Highlights

Market Research Future published a half Cooked Research Report on Heat Exchanger Market. The Global market for Heat Exchanger is majorly driven by factors such as growing demand for technological development, growth in HVACR process and among others. Global Heat Exchanger Market is expected to Grow at a CAGR of 8.2% during the forecasted period.

A Heat Exchanger is a device designed to efficiently transfer or “exchange” heat from one matter to another. Heat exchanger are one of the most common pieces of equipment used in power generation, chemical processing, electronics cooling, air-conditioning, refrigeration, and automotive applications. A variety of heat exchangers are used in industry and in their products. Heat exchangers are classified according to transfer processes, number of fluids, and degree of surface compactness, construction features, flow arrangements and heat transfer mechanisms. Moreover, it is  designed to remove excess heat from aircraft engines, optics,  power supplies, military equipment, and many other types of equipment that require cooling beyond what air-cooled heat sinks can provide. Heat Exchanger market is high in Europe, with Asia-Pacific region expected to be the most promising markets for heat exchanger market.

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Key Players:

The prominent players in the Heat Exchanger market include:

  • Alfa Laval AB (Sweden)
  • Kelvion Holdings Gmbh (Germany)
  • Southern Heat Exchanger (U.S.)
  • Danfoss A/S (Denmark)
  • SPX Corporation (U.S.)
  • Xylem Inc. (U.S.)
  • API Heat Transfer Inc. (U.S)
  • Gunter AG & Co. KG (Germany)
  • Sierra S.p.A (Italy)
  • Hamon & Cie International SA (Belgium)

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Market Research Analysis:

Europe is leading the market of Heat Exchanger. Strong market for plate & frame heat exchangers. The region has the presence of most of the global leaders in heat exchanger manufacturing.  New emerging technologies and regulations in certain regions have also helped in the growth of heat exchanger industry. Innovative heat exchangers are that can withstand corrosive chemicals are gaining popularity.

Asia-Pacific is witnessing high industrial growth rate which will increase the demand for plate & frame heat exchangers for its diverse applications. China dominating the plate & frame heat exchangers market in Asia-Pacific region, being a major consumer and the fastest growing country in terms of plate & frame heat exchangers demand. Moreover, increasing number of plate & frame heat exchangers manufacturers from Asian countries are putting efforts for developing a strong base of plate & frame heat exchangers market, with a target of reducing plate & frame heat exchangers imports.

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