What's driving the Heat Exchanger Market Growth? Thermofin, Lanpec, Kelvion, API, Southern Heat Exchanger, KNM, Danfoss, Wessels, Vahterus, Doosan, Koch, FUNKE, Alfa Laval,
Heat Exchanger Market is anticipated to exceed USD 13 billion by 2025. Growing demand for centralized cooling & heating systems across the residential and commercial sectors will propel the deployment of heat transfer equipment. Increasing utilization of Waste Heat Recovery Systems (WHRS) across industrial facilities along with shift in the regulatory landscape to reduce carbon emissions will further entail the product deployment.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Larsen & Toubro
6. Southern Heat Exchanger
14. Alfa Laval
15. Shangdong Beichen
18. Accessen Group
19. Hitachi Zonsen
23. Hisaka Works
24. SWEP and Thermowave amongst others.
Stringent government mandates to reduce carbon footprint along with robust industrial sector growth will boost the heat exchanger market growth. Introduction of emission reduction targets across key developing economies with an aim to counter the adverse impact of global warming has resulted in increasing investments toward replacement of process equipment. Moreover, rising focus toward generating capacity addition coupled with positive outlook for chemical sector will complement the business landscape.
Middle East & Africa heat exchanger market is predicted to expand over 7% by 2025. Rising investments from financial institutions, most notably the African Development Bank, in order to thrust the industrialization rate accompanied by resurgent economic growth will stimulate business expansion. Lucrative Oil & Gas sector across the region coupled with positive outlook toward expansion and development of the manufacturing units will further strengthen the product adoption in coming years.
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Shell & tube heat exchanger market is set to witness robust growth owing to the product's ability to offer high efficiency, reduced cost, and lower pressure drop. Moreover, sizeable investments aimed at the expansion and modernization of chemical production units along with rising adoption of WHRS across industrial sector will augment the business growth. Oil & Gas, primary metal manufacturing, electric power plants and food processing are few key application areas where this equipment are deployed.
Rising government focus toward upgradation and development of new industrial centers coupled with expansion of existing manufacturing units will drive the China heat exchanger market. At present, the country accounts for over 40% of the global manufacturing value added and is rapidly emerging as a manufacturing hub. Increasing investment across metallurgy, chemical and Oil & Gas sectors coupled with rising urbanization rate will stimulate the industry growth.
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- Heat Exchangers Market, By Technology
• Shell & Tube
• Air Cooled
- Heat Exchangers Market, By Application
• Oil & Gas
• Power Generation & Metallurgy
• Mechanical Industry
• Central Heating & Refrigeration
• Food Processing
Heat exchangers find prevalent applications across power generation, food & beverage, centralized heating & cooling, refining, chemical, and petrochemical industries amongst others. Rising focus toward energy optimization across food processing industry along with ongoing technological innovation to offer economically viable heat transfer solutions will stimulate the heat exchanger market growth.
Key industry participants operating across the heat exchanger market comprise Larsen & Toubro, Thermofin, Lanpec, Kelvion, API, Southern Heat Exchanger, KNM, Danfoss, Wessels, Vahterus, Doosan, Koch, FUNKE, Alfa Laval, Shangdong Beichen, THT, HRS, Accessen Group, Hitachi Zonsen, Xylem, SPX-Flow, IHI, Hisaka Works, SWEP and Thermowave amongst others.
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