Heat Exchangers Market | Report Covers Detailed Industry Scope, Future Market Size and Outlook to 2025

Heat exchangers are devices that transfer heat from one fluid (liquid or gas) to another fluid (liquid or gas) without being in direct contact with each other. Moreover, heat exchangers, also known as regenerators, are used in end-user industries such as chemical, petrochemical, oil & gas, to minimize the loss of heat. As the incoming and outgoing fluids move in opposite directions, they are also known as counter-flow heat exchangers. Heat exchangers are designed as per end-user industry's requirements. For instance, they are manufactured for a wide range of light hydrocarbons in the oil & gas industry

Allied Market Research published a report, titled, "Heat Exchangers Market by Type (Shell & Tube, Plate & Frame, Air-Cooled, Microchannel, and Others), End-User Industry (Chemical, Petrochemical, Oil & Gas, HVACR, Food & Beverage, Power Generation, and Others), and Material of Construction (Carbon Steel, Stainless Steel, Nickel, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026."

According to the report, the global heat exchangers market garnered $16.62 billion in 2018, and is estimated to reach $29.31 billion by 2026, growing at a CAGR of 7.2% from 2019 to 2026. The report also provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

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The chemical segment to lead the trail throughout the forecast period-

Based on end-user industry, the chemical segment contributed to nearly one-fourth of the total market revenue in 2018 and is predicted to rule the roost during the estimated period. This is attributed to high adoption of heat exchangers in the chemical industry owing to their application in a complex series of processes such as heating, cooling, condensing, evaporation, separation, and others. At the same time, the oil and gas segment would cite the fastest CAGR of 7.9% throughout 2019-2026.

By material of construction, the heat exchangers market is categorized into carbon steel, stainless steel, nickel, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America countries analyzed in the report are the U.S., Canada, and Mexico. Europe is analyzed across Germany, France, Spain, Italy, the UK, Russia, and rest of Europe.

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Countries analyzed under Asia-Pacific are China, Japan, India, South Korea, Australia, New Zealand, Malaysia, Indonesia, Philippines, Thailand, Vietnam, and rest of Asia-Pacific. LAMEA is studied across Saudi Arabia, UAE, Kuwait, Qatar, South Africa, and rest of LAMEA. Heat exchangers market share has been analyzed across all regions.

Key Findings of The Heat Exchangers Market:
o Based on type, the shell and tube segment is expected to grow at the fastest growth rate of 7.6%
o Based on end-user industry, oil & gas is expected to experience rapid growth with a rate of 7.9%
o The Asia-Pacific heat exchangers market is projected to grow at the highest CAGR of nearly 7.6%, in terms of revenue, during the forecast period
o A comprehensive analysis of the factors that drive and restrain the heat exchangers market growth is provided

Leading market players-

Leading market players analyzed in the research include Brask, Inc., Xylem Inc., Danfoss A/S, Kelvion Holding GmbH, API Heat Transfer, Koch Industries, Inc., Lytron Inc., Güntner GmbH & Co. KG, and Thermofin.

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