Global Heat Exchanger Market is projected to grow at a CAGR of 5.25% by 2027

The Global Heat Exchanger Market is projected to reach USD 20.5 billion by 2027. It will exhibit a 5.25% CAGR during the forecast period. The global heat exchangers will grow significantly owing to increased prominence for heat exchangers in oil & gas industries, installation of new power plants, mounting demand from chemical industry, technological development, increased emphasis on efficiency standards, rapid industrialization and urbanization in emerging countries like China and India, will accelerate the market growth for global heat exchanger industry.

The growing implementation of effective thermal management in the chemical, oil and gas, power generation, food and beverage, and HVAC and refrigeration industries has been a major driving force in the market. These devices aid in the heating and cooling of buildings, as well as the efficient operation of engines and machines. As a result, they are commonly found in boilers, furnaces, refrigerators, automotive radiators, sewage treatment systems, and air conditioning systems.

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Heat exchanger manufacturers are facing unexpected challenges as a result of the COVID-19 crisis, including halted manufacturing due to lockdown restrictions, limited workforce availability, supply chain disruptions, country-wide lockdowns, and fluctuating raw material prices. However, various governments around the world have implemented stimulus packages to help countries support their declining economies, which are also expected to support various end-use industries and lead to economic recovery following the COVID-19 crisis.

Global Heat Exchanger Market Segment Analysis
This section of the report provides a comprehensive analysis of segments and sub-segments and offers insight into the leading segment and anticipates segments having the fastest growth.

The Global Heat Exchanger Market is segregated based on:

By Material
• Steel
• Non-Steel

By Type
• Plate & Frame Heat Exchanger
• Shell & Tube Heat Exchanger
• Air-Cooled Heat Exchanger
• Others

By Industry Vertical
• Chemical
• Energy
• HVACR
• Food & Beverages
• Power Generation
• Pulp & Paper
• Others

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Competitor Landscape

Key advancements in the Global Heat Exchanger industry, as well as organic and inorganic growth approaches, are covered in the research. A number of companies are prioritising new launches, product approvals, and other organic growth tactics such as patents and events. Inorganic growth strategies in the market included acquisitions, partnerships, and collaborations. These efforts have paved the road for industry players to expand their business and client base. The industry players in the inspection management software market are expected to benefit from attractive growth prospects in the future. A list of a few businesses involved in the Global Heat Exchanger Market are provided below:

• ALFA LAVAL
• Danfoss
• Kelvion Holding GmbH
• Xylem
• Exchanger Industries Limited
• MERSEN PROPERTY
• API Heat Transfer
• Boyd Corporation
• Johnson Controls
• H. Güntner (UK) Limited.

FAQ
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• Name some of the prominent industry players in the Report?
• What is the current market and market volume of the Global Heat Exchanger Market?
• What are the segments defined in the report?

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