Press release
South Korea Heat Exchanger Market Revenue Share Detailed Analysis Report 2021-2031
Due to the persistent shortage of power, various governments are expressing their interest in diversifying their energy portfolio and making use of renewable sources of energy. High demand from industries & households and inability to meet the power demands are leading to the installation of newer power plants that are powered by steam turbines. The heat exchangers market is driven by the rising number of power plants and the subsequent increase in the use of heat exchangers in power plants.
๐๐๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ - https://www.transparencymarketresearch.com/heat-exchanger-market.html
The use of heavy-duty heat exchangers by large industrial consumers is also aiding the growth of the market. The rapidly growing heating, ventilation, and air conditioning (HVAC) industry is encouraging the heat exchangers market to grow further.
๐ ๐๐๐ญ๐จ๐ซ๐ฌ ๐๐ฎ๐ฉ๐ฉ๐จ๐ซ๐ญ๐ข๐ง๐ ๐๐๐๐ญ ๐๐ฑ๐๐ก๐๐ง๐ ๐๐ซ๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก
Rapid growth in the consumption of power in various industries is expected to help expand the global heat exchangers market during the forecast period. For any power station, condensers are a vital element as they connect the heat sink and the water/steam cycle. The performance of condensers directly impacts the output of power stations and the availability of electric power. Condensers are meant to meet high-performance requirements. This group of heat exchanger devices is primarily implemented in most power generation plants. Thus, demand for all kinds of heat exchangers is expected to grow across the globe, resulting in the growth of the global heat exchangers market.
๐๐๐ญ ๐๐๐ ๐๐ซ๐จ๐๐ก๐ฎ๐ซ๐ ๐จ๐ ๐ญ๐ก๐ ๐๐๐ฉ๐จ๐ซ๐ญ - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1302
Moreover, strategic alliances and mergers & acquisitions will have a positive impact on the market. The introduction of hybrid heat exchanger technology will open new doors of opportunities in the market. The after-sale services segment is also expected to have a huge potential for growth, thus benefitting the heat exchangers market.
However, the global heat exchangers market is challenged by various regulations curbing the use of fluorinated greenhouse gases in heat exchangers. Rising prices of raw materials required for the fabrication of heat exchangers will also restrict the growth of the market.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง - https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=1302
๐๐๐๐ญ ๐๐ฑ๐๐ก๐๐ง๐ ๐๐ซ๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐ฑ๐ฉ๐๐ง๐ฌ๐ข๐จ๐ง
The global heat exchangers market is segmented on the basis of product type, end-user, and region.
In terms of product type, the global heat exchangers market has been divided into air cooled, plate and frame, shell and tube, and others. The shell and tube segment of the global heat exchangers market accounted for the highest market share in 2020. With an increasing number of oil field and infrastructure development projects being planned across all regions, the shell and tube segment is expected to grow rapidly during the forecast period. At present, governments of countries facing constant power shortages are taking efforts to upgrade power generation activities to meet the rising demand for power from various industries. The availability of several heat exchangers with advanced features is expected to boost the global heat exchangers market during the forecast period.
Asia Pacific accounted for 33.60% of the global heat exchangers market in 2020 and this market in the region is expected to expand at a 6.34% CAGR from 2020 to 2031. The Asia Pacific market is expected to rise from US$ 6.12 Bn in 2020 to US$ 12.03 Bn by 2031.
๐๐๐ค๐ ๐๐ง ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=1302
๐๐๐๐ญ ๐๐ฑ๐๐ก๐๐ง๐ ๐๐ซ๐ฌ ๐๐๐ซ๐ค๐๐ญ: ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
Key players operating in the global heat exchangers market include SAACKE GmbH, Heatmaster BV, GEA Heat Exchangers, Alfa Laval Corporate AB, and Southwest Thermal Technology.
๐๐๐จ๐ฎ๐ญ ๐๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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๐๐จ๐ง๐ญ๐๐๐ญ
Nikhil Sawlani
Transparency Market Research Inc.
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