Heat Exchangers Market : Increasing demand with key players Like API Heat Transfer, Brask, Inc., Danfoss A/S, Güntner GmbH & Co. KG, Kelvion Holding GmbH
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.
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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.
Based on type, the shell & tube segment occupied the highest share of 30% in 2018, and is anticipated to continue its dominance throughout the analysis period. It is highly adopted in numerous end–user industries owing to its characteristics such as easy maintenance, high efficiency, compatible in high-pressure applications, compact design, and others
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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 the petrochemical industry. Simultaneously, the Asia-Pacific region would grow at the fastest CAGR of 7.6% by 2026.
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.
Key Findings of The Heat Exchangers Marke:
• Based on type, the shell and tube segment is expected to grow at the fastest growth rate of 7.6%
• Based on end-user industry, oil & gas is expected to experience rapid growth with a rate of 7.9%
• 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
• A comprehensive analysis of the factors that drive and restrain the heat exchangers market growth is provided
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Based on the end-user industry, the oil & gas industry is anticipated to grow at the fastest rate. This is due to significant surge in demand for heat exchangers from countries such as India, China, and U.S., owing to the rise in a number of oil and gas industries; specifically in India, and China, where increase in oil usage has resulted in high investment for improving the refining capacity.
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