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Research Report Analyzes Why Manufacturers & Investors are focusing on the Heat Exchangers Industry

04-21-2017 12:00 PM CET | Energy & Environment

Press release from: Big-Research

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Big Market Research added a report on “Global Heat Exchangers Market Research Report 2017 - Heat Exchangers Industry Research, Analysis, Technology, Growth, Demand, Report, Trends and Forecast”

Heat exchanger are devices responsible for transfer of heat, from one fluid to another and transfer of heat between solid particulates and fluid. These are used in cooling applications, such as in refrigeration and air-conditioners. They are distinguished on the basis of direction of flow of liquids. Therefore, depending on the flow of liquid these exchangers can be parallel-flow, cross-flow, or countercurrent. Moreover, some heat exchangers comprise multiple tubes whereas, some consist of hot plates with space for liquid to flow between them. In addition, they consist of heat transfer elements such as a core or matrix containing the heat transfer surface, and fluid distribution elements such as headers, manifolds, tanks, inlet, outlet nozzles or pipes, and seals. Furthermore, these are often used in the process, power, petroleum, air-conditioning, refrigeration, cryogenic, heat recovery, alternative fuel, and manufacturing industries, serving as key components of many industrial products.

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The market for heat exchangers has considerably grown in the recent years in developing nations such as China, India, and Japan, owing to increase in investments in chemicals, petrochemicals, oil & gas, and heat ventilation and air conditioning and refrigeration (HVACR) industries. Moreover, shell & tube heat exchangers have enhanced demand across aforementioned regions, owing to its wide operating pressure, temperature range, and growth of chemical industry. In addition, high purity standards, stringent environmental regulations, surge of energy demand in Asia-Pacific and LAMEA drive the shell & tube heat exchangers market on a very large scale. The heat exchangers market was valued at $12,611 million in 2015, and is expected to reach $20,118 million by 2022. However, the increase in cost of raw materials used for shell & tube heat exchangers manufacturing is expected to inhibit the growth to some extent.

The heat exchanger market is segmented based on type, end-user industry, material of construction, and geography. Based on type segment, the market is classified into shell & tube, plate & frame, air-cooled, micro-channel, and others (gasketed, welded, brazed, and finned tube). The plate & frame type segment registered significant growth during 2014 and is expected to grow throughout the forecasted years. The oil and gas industry segment is estimated to grow at a significant CAGR of 6.7% during the forecast period. By material of construction, the market is segmented into carbon-steel, stainless-steel, nickel and others (nickel alloys, copper, titanium, molybdenum). Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe accounted for more than one-fourth share of the total revenue in 2015, followed by Latin America and Asia-Pacific.

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KEY PLAYERS
• API Heat Transfer Inc.
• Alfa Laval AB
• Brask Inc.
• Hrs Heat Exchangers Ltd.
• Hughes Anderson Heat Exchangers Inc.

KEY MARKET SEGMENTS

By Type
• Shell & Tube
• Plate & Frame
• Air-Cooled
• Micro-channel
By End-User Industry
• Chemical
• Petrochemical
• Oil & Gas
• HVACR
• Food & Beverage
• Power Generation
By Geography
• North America
• Europe
• Asia-Pacific
• LAMEA

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