Heat Exchanger Market 2019 In-Depth Analysis by Leading Players like Alfa Laval AB, Kelvion Holdings Gmbh, Southern Heat Exchanger, Danfoss A/S, SPX Corporation, Xylem, API Heat Transfer Etc.

The global heat exchanger industry is witnessing steady growth and is expected to grow at a CAGR of approximately 9.5% over the forecast period of 2017-2023. Heat exchangers are vital in the maintenance of safety and efficacy of various processes in diverse industries such as chemical, food, waste recovery, oil & gas, and others. They prevent overheating by transfer of thermal energy between one fluid to another or solid surface.

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Industry Highlights

Heat exchangers are devices used to transfer heat energy from one fluid to another. Heat exchangers find widespread use in power generation, chemical processing, electronics cooling, air-conditioning, refrigeration, and automotive applications. Heat exchangers used in abundantly in chemical and process industries. It is also used in automobiles in the form of radiators and oil coolers. It is most preferred and widely accepted equipment due to its green and energy-efficient properties. The focus of various regulatory bodies to reduce the amount of greenhouse gases for meeting the future sustainability is further driving the market for heat exchangers.

Competitive Dashboard:

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), and Hamon & Cie International SA (Belgium), Koch Heat Transfer Company (U.S.), Hughes Anderson Heat Exchangers (U.S.)

Segmentation

The global heat exchanger market has been segmented based on application, type and region.

Type-wise segmentation of the global heat exchanger market includes shell & tube, plate, regenerative, and air cooled.

Application-wise, the global heat exchanger market has been segmented into chemicals, oil & gas, power generation, HVACR, food & beverages, and others.

Region-wise, the industry covers its growth opportunity and current trends across North America, Europe, Asia-Pacific, middle East & Africa.

Regional Analysis

North America, Europe, Asia Pacific, and the Middle East & Africa are the key markets for heat exchanger.

Europe is the largest market for heat exchanger due to augmented demand from the region due to cold weather condition. Moreover, the region is leading in terms of production of plate & frame heat exchangers in regions such as Germany, UK, and France.

The Middle East & Africa market generates substantial demand for heat exchangers owing to growing application in oil refineries.

Asia Pacific market is expected to witness maximum growth over the forecast period. Rapid industrialization in countries such as China, India, Japan, Indonesia, and Australia initiate the high demand for heat exchangers.

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This release was published on openPR.