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Heat Exchanger Market 2019 | Top Players are Larsen & Toubro, Thermofin, Lanpec, Kelvion, API, Southern Heat Exchanger
Heat Exchanger Market
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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.
Heat Exchanger Market, By Product
Heat Exchanger Market, By Technology
• Shell & Tube
• Plate
• Air Cooled
• Others
Heat Exchanger Market, By Application
• Oil & Gas
• Chemical
• Power Generation & Metallurgy
• Marine
• Mechanical Industry
• Central Heating & Refrigeration
• Food Processing
• Others
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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 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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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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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology
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