COVID19 Update: Heat Exchangers Market to Exhibit a 7.2% CAGR by 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.

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.

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Europe to maintain its lion's share-

Based on geography, Europe generated the major share in 2018, accounting for nearly one-third of the total market. This is due to high demand from automotive industries, food & beverage industry, and petrochemical industry. Simultaneously, the Asia-Pacific region would grow at the fastest CAGR of 7.6% by 2026.

Key Findings of The Heat Exchanger's 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 An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves
o The qualitative data in this report aims at the market dynamics, heat exchangers market trends, and developments in the heat exchanger industry
o The quantitative data provides the heat exchangers market size in terms of revenue

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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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