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Heat Exchangers Industry Worth $20.5 Billion by 2024 - Energy End-use Industries; Catalyst for Future Growth

DUBLIN, Feb. 14, 2020 /PRNewswire/ -- The "Heat Exchangers Market by Type (Shell & Tube, Plate & Frame, Air Cooled), Material (Steel, Non-Steel) Application (Chemical, Energy, HVACR, Food & Beverage, Power Generation, Pulp & Paper), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

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The global heat exchangers market is estimated to be USD 15.3 billion in 2019 and is projected to reach USD 20.5 billion by 2024, rising at a CAGR of 6% between 2019 and 2024.

Heat exchangers are environmentally-friendly, and they offer advantages, such as high operating efficiency and reduced energy consumption owing to which heat exchangers have high demand across a wide range of industries, including nuclear & thermal power plants, petroleum refineries, petrochemical plants, food processing plants, chemical, and HVACR.

Energy segment is expected to be the fastest-growing end-use industry of the heat exchangers market during the forecast period

The energy industry segment is expected to grow at the highest CAGR between 2019 and 2024. The growth of this segment can be attributed to the expansion activities across upstream and downstream processing plants across the petrochemical and oil & gas sector. Growth in the exports of crude oil supported by the increased demand for fuel and petrochemical products is a major driving force for the heat exchangers market globally.

APAC is projected to be the fastest-growing market for heat exchangers during the forecast period

APAC is projected to be the fastest-growing market for heat exchangers, in terms of value during the forecast period. China and India are two major markets for heat exchangers in Asia Pacific. The growth in the commercial building & construction industry, high-end real estate, and energy-saving policies are likely to drive the demand for heat exchangers in China and India.

Key companies profiled in this market research report:

  • Alfa Laval (Sweden)
  • Kelvion Holdings (Germany)
  • Danfoss (Denmark)
  • Xylem (US)
  • API Heat Transfer (US)
  • Gunter (Germany)
  • Hindustan Dorr-Oliver (India)
  • Chart Industries (US)
  • Hisaka Works (Japan)
  • Johnson Controls International (Ireland)

The report is expected to help market leaders/new entrants in the following ways:

  • This report segments the heat exchangers market and provides the closest approximations of the overall market size for its segments across different verticals and regions.
  • This report is expected to help stakeholders understand the pulse of the market and provide information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.
  • This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as new product launch, acquisition, and expansion.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Global Heat Exchangers Market
4.2 Heat Exchangers Market in APAC, 2018
4.3 Heat Exchangers Market, By Type
4.4 Heat Exchangers Market, By End-Use Industry
4.5 Heat Exchangers Market Growth Rate, By Country

5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Rapid Industrial Expansions in Developing Economies of APAC
5.1.1.2 Stringent Environmental Regulations Driving the Demand for Heat Exchangers
5.1.1.3 Rise in HVACR Deployments and Growth in Construction Activities
5.1.1.4 Technological Advancements in Heat Exchangers Market
5.1.2 Restraints
5.1.2.1 Sluggish Growth of Heat Exchangers Market in Europe
5.1.2.2 Lack of Awareness About Buildings' Energy Efficiency
5.1.3 Opportunities
5.1.3.1 Growing Nuclear Power Generation
5.1.3.2 Large Aftermarket for Heat Exchangers
5.1.4 Challenges
5.1.4.1 Regulations Pertaining to Fluorinated Greenhouse Gases
5.2 Porter's Five Forces
5.2.1 Threat From New Entrants
5.2.2 Threat of Substitutes
5.2.3 Bargaining Power of Buyers
5.2.4 Bargaining Power of Suppliers
5.2.5 Intensity of Rivalry
5.3 Raw Material Analysis
5.3.1 Steel
5.3.1.1 Steel Segment to Dominate Heat Exchangers Market
5.3.2 Non-Steel
5.3.2.1 Non-Steel Segment to Register Fastest Growth Rate During Forecast Period

6 Heat Exchangers Market, By Type
6.1 Introduction
6.2 Shell & Tube Heat Exchangers
6.2.1 Tubular Heat Exchangers
6.2.1.1 Tubular Heat Exchangers are More Efficient Than Standard Shell & Tube Heat Exchangers
6.3 Plate & Frame Heat Exchangers
6.3.1 Gasketed Plate & Frame Heat Exchangers
6.3.1.1 Gasketed Plate & Frame Heat Exchangers Have Highest Share in Plate & Frame Heat Exchangers Segment
6.3.2 Welded Plate & Frame Heat Exchangers
6.3.2.1 Welded Plate & Frame Heat Exchangers Mostly Used Due to Its Compact Size, Modularity, and Flexibility
6.3.3 Brazed Heat Exchangers
6.3.3.1 Brazed Heat Exchangers Have High Demand in HVACR and Power Industry
6.4 Air Cooled Heat Exchangers
6.4.1 Air Cooled Heat Exchangers Primarily Used in Chemical and Energy Industries
6.5 Others
6.5.1 Extended Surface Heat Exchangers
6.5.2 Regenerative Heat Exchangers

7 Heat Exchangers Market, By End-Use Industry
7.1 Introduction
7.2 Chemical
7.2.1 Chemical Industry to Dominate the Heat Exchangers Market
7.2.2 Specialty Chemicals
7.2.2.1 Growing Demand for Specialty Chemicals in Developing Economies Will Positively Impact Heat Exchangers Market
7.3 Energy
7.3.1 Energy Sector is Fastest-Growing End User of Heat Exchangers
7.4 HVAC and Refrigeration
7.4.1 Urbanization Driving the Demand for Heat Exchangers in Hvac Segment
7.5 Food & Beverage
7.5.1 Growing Consumption of Packaged and Processed Food Products Driving the Demand in Food & Beverage Industry
7.5.2 Sugar and Ethanol Production
7.5.3 Others
7.6 Power Generation
7.6.1 Efforts to Increase Energy Output of Power Plants to Drive the Usage of Heat Exchangers in Power Industry
7.7 Pulp & Paper
7.7.1 Heat Exchangers Used in Pulp & Paper Industry for Wastewater Treatment and Heat Recovery
7.8 Others

8 Heat Exchangers Market, By Region
8.1 Introduction
8.2 North America
8.2.1 US
8.2.1.1 US is the Largest and Fastest-Growing Market for Heat Exchangers in North America
8.2.2 Canada
8.2.2.1 Expansion of Oil & Gas Industry Expected to Boost the Demand for Heat Exchangers
8.2.3 Mexico
8.2.3.1 Heat Exchangers Demand in Mexico to Be Majorly Driven By Expansion of Energy Sector
8.3 APAC
8.3.1 China
8.3.1.1 China is Second-Largest Market for Heat Exchangers, Globally
8.3.2 India
8.3.2.1 India Expected to Register the Fastest Growth During Forecast Period
8.3.3 Japan
8.3.3.1 Chemical and Nuclear Power Industries to Drive Heat Exchangers Market in Japan
8.3.4 South Korea
8.3.4.1 Plate & Frame to Lead the Heat Exchangers Market in South Korea
8.3.5 Rest of APAC
8.4 Europe
8.4.1 Germany
8.4.1.1 Germany to Lead the Heat Exchangers Market in Europe
8.4.2 France
8.4.2.1 Presence of Strong Chemical Industry Provides Favorable Growth Prospect for Heat Exchangers
8.4.3 Italy
8.4.3.1 Steady Production of Crude Oil and Growing Construction Industry is Expected to Drive the Market
8.4.4 UK
8.4.4.1 Steady Growth in Construction Industry to Drive the Demand for Plate & Frame Heat Exchangers
8.4.5 Sweden
8.4.5.1 Growing Exports of Chemical and Petrochemical Products to Fuel Consumption of Heat Exchangers in Sweden
8.4.6 Russia
8.4.6.1 Expansion in Oil & Gas and Construction Industries to Fuel the Growth of Heat Exchangers Market
8.4.7 Turkey
8.4.7.1 Turkey to Register the Fastest Growth Rate During Forecast Period
8.4.8 Rest of Europe
8.5 Middle East & Africa
8.5.1 Saudi Arabia
8.5.1.1 Saudi Arabia Dominates the Heat Exchangers Market in Middle East & Africa
8.5.2 Rest of Middle East & Africa
8.6 South America
8.6.1 Brazil
8.6.1.1 Brazil is Largest Market for Heat Exchangers in South America
8.6.2 Rest of South America

9 Competitive Landscape
9.1 Overview
9.2 Competitive Leadership Mapping, 2018
9.2.1 Visionary Leaders
9.2.2 Innovators
9.2.3 Emerging Companies
9.2.4 Strength of Product Portfolio
9.2.5 Business Strategy Excellence
9.3 Market Ranking of Key Players, 2018
9.4 Competitive Scenario
9.4.1 New Product Launch
9.4.2 Expansion
9.4.3 Acquisition

10 Company Profile
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, Right to Win)
10.1 Alfa Laval
10.2 Kelvion Holdings
10.3 Danfoss
10.4 Xylem
10.5 API Heat Transfer
10.6 Chart Industries, Inc.
10.7 Guntner
10.8 Hindustan Dorr-Oliver
10.9 Hisaka Works
10.10 Johnson Controls International
10.11 Other Companies
10.11.1 HRS Heat Exchangers
10.11.2 Sierra
10.11.3 Swep International
10.11.4 Mersen
10.11.5 Thermax Global
10.11.6 Koch Heat Transfer Company
10.11.7 Barriquand Technologies
10.11.8 Funke Warmeaustauscher Apparatebau
10.11.9 Vahterus
10.11.10 Radiant Heat Exchanger
10.11.11 Smart Heat Incorporated
10.11.12 Doosan Corporation
10.11.13 Air Products and Chemicals

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

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