Heat Exchanger Market:
The GMI Research's latest analysis reveals that the Heat
Exchangers Market is slated to register a significant CAGR over the forecast
period. This is attributed to the increasing deployment of power plants to
fulfill the rising demand for energy, growing 3D prototyping, numerous R&D
activities, and rapid industrialization across emerging economies.
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Heat Exchangers Market’s leading
Manufacturers:
·
Kelvion Holding GmbH
·
Alfa Laval
·
Xylem
·
Danfoss
·
Chart Industries
·
API Heat Transfer
·
Hindustan Dorr-Oliver Ltd.
·
Guntner GmbH & Co. KG
·
Johnson Controls
·
Hisaka Works Ltd.
Heat Exchangers Market Dynamics (including
market size, share, trends, growth, forecast, and industry analysis)
Key
Drivers
The increasing deployment of power plants to fulfill the
rising demand for energy and the rapid industrialization across emerging
economies are the key drivers contributing to the growth of the heat
exchangers market. As per the heat exchangers market report, increasing
technological advancements for the development of heat exchangers, including
phase-change cooling technology, growing 3D prototyping, and numerous R&D
activities, will further surge the growth of the heat exchangers market during
the forecast period.
The strict rules & regulation to decrease carbon
emissions & global warming is another factor that will have a positive
influence on the market's demand. According to the heat exchangers market analysis,
the growing construction sector is boosting the demand for heating and cooling
equipment in residential & commercial buildings. The heat exchangers
provide remarkable benefits that include less need for maintenance and space
and low energy consumption. These factors further pay the way for the demand
for heat exchangers across the world. On the other hand, the increasing cost of
development of heat exchangers owing to the growing cost of raw materials and
limited awareness regarding the building's energy efficiency will hamper the
growth of the market.
Type Segment
Drivers
Based on the type, the shell & tube heat exchangers is
predicted to rise at a higher CAGR in the coming years due to the strong
adoption of such heat exchanges across various industry verticals like
chemicals, food & beverages, and other sectors. The shell & tube heat
exchangers offer exceptional benefits, including easy inspection &
disassembly, resistance to thermal shocks, decreases maintenance costs,
followed by the minimized pressure loss and easy maintenance. All these
advantages will attract a large number of customers to opt for these heat
exchanges. The shell & tube heat exchangers are designed & manufactured
in such as manner that makes them feasible to withstand very high pressures,
thereby making them appropriate across all applications.
End-Use
Industry Segment Drivers
Based on the end-use industry, the energy is projected to
grow at a faster CAGR due to the increasing implementation of heat exchangers
in this sector owing to the strong demand in the downstream and upstream
processing sectors. The increase in the energy industries due to the rising
demand for energy & power driven by the increasing population will
accelerate the growth of the market.
Heat Exchangers Market Segmentation:
Segmentation
by Type:
·
Plate & Frame Heat Exchangers
·
Shell & Tube Heat Exchangers
·
Air Cooled Heat Exchangers
·
Others
Segmentation
by End-Use Industry:
·
Energy
·
Chemicals
·
Food & Beverages
·
HVAC & Refrigeration
·
Pulp & Paper
·
Power Generation
·
Others
Segmentation
by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
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