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Heat Exchanger Market Valued at US$ 19.65 Bn in 2023, Projected to Reach US$ 28.58 Bn by 2030

07-25-2024 08:54 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MAXIMIZE MARKET RESEARCH PVT. LTD.

Heat Exchanger Market

Heat Exchanger Market

๐‡๐ž๐š๐ญ ๐„๐ฑ๐œ๐ก๐š๐ง๐ ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:

The Global Heat Exchanger Market was valued at US$ 19.65 Bn in the year 2023 and is expected to reach US$ 28.58 Bn by 2030 with a growing CAGR of 5.5% over the forecast period.

๐‡๐ž๐š๐ญ ๐„๐ฑ๐œ๐ก๐š๐ง๐ ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฏ๐ž๐ซ๐ฏ๐ข๐ž๐ฐ:

Heat exchangers are crucial devices used to transfer heat from one medium to another without mixing the two. By facilitating heat energy transfer through conduction, they play a pivotal role in enhancing the efficiency of various industrial operations. The surge in demand for energy-efficient processes across industries such as chemical and power generation underscores the significance of heat exchangers in temperature control and waste heat recovery. Europe led the market share in 2023, driven by substantial investments in industrial sectors and robust demand from various end-user industries.

๐‚๐ฅ๐ข๐œ๐ค ๐ญ๐ก๐ž ๐›๐ž๐ฅ๐จ๐ฐ ๐ฅ๐ข๐ง๐ค ๐Ÿ๐จ๐ซ ๐ฆ๐จ๐ซ๐ž ๐๐ž๐ญ๐š๐ข๐ฅ๐ฌ: https://www.maximizemarketresearch.com/request-sample/3346/

๐‡๐ž๐š๐ญ ๐„๐ฑ๐œ๐ก๐š๐ง๐ ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ƒ๐ฒ๐ง๐š๐ฆ๐ข๐œ๐ฌ

๐ƒ๐ซ๐ข๐ฏ๐ข๐ง๐  ๐…๐š๐œ๐ญ๐จ๐ซ๐ฌ

๐ˆ๐ง๐œ๐ซ๐ž๐š๐ฌ๐ข๐ง๐  ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐š๐ฅ ๐€๐œ๐ญ๐ข๐ฏ๐ข๐ญ๐ข๐ž๐ฌ ๐š๐ง๐ ๐ƒ๐ž๐ฆ๐š๐ง๐ ๐Ÿ๐จ๐ซ ๐„๐ง๐ž๐ซ๐ ๐ฒ ๐„๐Ÿ๐Ÿ๐ข๐œ๐ข๐ž๐ง๐œ๐ฒ

The booming sectors of chemical processing, oil & gas, power generation, and food and beverages are primary drivers of market growth. Industries are increasingly adopting heat exchangers to optimize energy consumption and enhance operational efficiency. The HVAC, refrigeration, and automotive sectors also significantly contribute to market expansion.

๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐œ๐š๐ฅ ๐€๐๐ฏ๐š๐ง๐œ๐ž๐ฆ๐ž๐ง๐ญ๐ฌ ๐š๐ง๐ ๐„๐œ๐จ-๐Ÿ๐ซ๐ข๐ž๐ง๐๐ฅ๐ฒ ๐๐ซ๐š๐œ๐ญ๐ข๐œ๐ž๐ฌ

Advancements in heat exchanger design and the adoption of eco-friendly practices are notable trends. Manufacturers are increasingly using metals like aluminum, stainless steel, and copper due to their superior thermal properties, enhancing the performance and durability of heat exchangers.

๐‘๐ž๐ฌ๐ญ๐ซ๐š๐ข๐ง๐ข๐ง๐  ๐…๐š๐œ๐ญ๐จ๐ซ๐ฌ

๐‘๐š๐ฐ ๐Œ๐š๐ญ๐ž๐ซ๐ข๐š๐ฅ ๐’๐จ๐ฎ๐ซ๐œ๐ข๐ง๐  ๐š๐ง๐ ๐„๐ง๐ฏ๐ข๐ซ๐จ๐ง๐ฆ๐ž๐ง๐ญ๐š๐ฅ ๐‘๐ž๐ ๐ฎ๐ฅ๐š๐ญ๐ข๐จ๐ง๐ฌ

Manufacturers face challenges related to the volatility of raw material prices and stringent environmental regulations. The emission of hazardous gases from heat exchangers, particularly HFC gases, has led to the implementation of stricter regulatory measures, particularly in the European Union.

๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ

๐’๐ฎ๐ฌ๐ญ๐š๐ข๐ง๐š๐›๐ฅ๐ž ๐๐ซ๐š๐œ๐ญ๐ข๐œ๐ž๐ฌ ๐š๐ง๐ ๐€๐๐ฏ๐š๐ง๐œ๐ž๐ ๐Œ๐š๐ญ๐ž๐ซ๐ข๐š๐ฅ๐ฌ

The market presents substantial opportunities for both existing and new entrants by focusing on sustainable practices and the development of heat exchangers utilizing eco-friendly refrigerants. Infrastructure and oil field development projects worldwide also offer significant growth potential.

๐‡๐ž๐š๐ญ ๐„๐ฑ๐œ๐ก๐š๐ง๐ ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง

๐›๐ฒ ๐๐ซ๐จ๐๐ฎ๐œ๐ญ ๐“๐ฒ๐ฉ๐ž

Plate and Frame
Shell and Tube
Air Cooled

๐’๐ก๐ž๐ฅ๐ฅ ๐š๐ง๐ ๐“๐ฎ๐›๐ž ๐‡๐ž๐š๐ญ ๐„๐ฑ๐œ๐ก๐š๐ง๐ ๐ž๐ซ๐ฌ

Shell and tube heat exchangers, known for their versatility and mechanical strength, dominated the market. However, their requirement for large installation spaces may impact demand.

๐๐ฅ๐š๐ญ๐ž & ๐…๐ซ๐š๐ฆ๐ž ๐š๐ง๐ ๐€๐ข๐ซ ๐‚๐จ๐จ๐ฅ๐ž๐ ๐„๐ฑ๐œ๐ก๐š๐ง๐ ๐ž๐ซ๐ฌ

The plate & frame heat exchanger segment is expected to grow steadily. Air-cooled exchangers, favored for their flexibility in installation, are the second fastest-growing segment, particularly in gas stations, power plants, and refineries.

๐›๐ฒ ๐Œ๐š๐ญ๐ž๐ซ๐ข๐š๐ฅ

Metals
Alloy
Brazing Clad

๐Œ๐ž๐ญ๐š๐ฅ๐ฌ: ๐€๐ฅ๐ฎ๐ฆ๐ข๐ง๐ฎ๐ฆ, ๐’๐ญ๐š๐ข๐ง๐ฅ๐ž๐ฌ๐ฌ ๐’๐ญ๐ž๐ž๐ฅ, ๐‚๐จ๐ฉ๐ฉ๐ž๐ซ

Metals like aluminum, stainless steel, and copper are preferred for their high thermal conductivity, mechanical strength, and cost-effectiveness, ensuring longevity and efficient heat transfer.

๐›๐ฒ ๐„๐ง๐-๐”๐ฌ๐ž ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ

Chemical
Energy and Power Generation
Oil and Gas
Other

๐‚๐ก๐ž๐ฆ๐ข๐œ๐š๐ฅ ๐’๐ž๐œ๐ญ๐จ๐ซ

The chemical industry leads in market share due to the extensive use of heat exchangers in cooling, condensing, heating, and evaporating processes. Other significant end-users include HVAC systems, energy power plants, and oil & gas industries.

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐Ÿ๐จ๐ซ ๐š ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐จ๐Ÿ ๐ญ๐ก๐ข๐ฌ ๐ซ๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐š๐ญ : https://www.maximizemarketresearch.com/request-sample/3346/

Heat Exchanger Market Regional Insights

๐„๐ฎ๐ซ๐จ๐ฉ๐ž

Europe held the largest market share in 2023, driven by investments in Germany, France, and the UK. The region's demand for refrigeration and power generation systems significantly contributes to market growth.

๐๐จ๐ซ๐ญ๐ก ๐€๐ฆ๐ž๐ซ๐ข๐œ๐š

Developments in the oil & gas industries in the US and Canada are propelling market growth in North America.

๐€๐ฌ๐ข๐š-๐๐š๐œ๐ข๐Ÿ๐ข๐œ

Asia-Pacific is experiencing rapid growth due to industrialization and investments in commercial and manufacturing sectors in China and India. Government initiatives focused on reducing greenhouse gas emissions are further boosting the uptake of heat exchangers.

๐‡๐ž๐š๐ญ ๐„๐ฑ๐œ๐ก๐š๐ง๐ ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ

1. Alfa Laval (Sweden)
2. Kelvion Holding GmbH (Germany)
3. Danfoss (Denmark)
4. Mersen (France)
5. API Heat Transfer (United States)
6. Boyd (United States)
7. Johnson Controls (Ireland)
8. Wabtech Corporation (United States)
9. Xylem (United States)
10. SPX Flow (United States)
11. LU-VE Group (Italy)
12. Lennox International Inc (United States)
13. Modine Manufacturing Company (United States)
14. Koch Heat Transfer Company (United States)
15. Southern Heat Exchanger (United States)
16. Hisaka Works Ltd (Malaysia)
17. Chart Industries (United States)
18. Radiant Heat Exchangers (India)
19. Glacier Energy (United Kingdom)

๐“๐จ ๐‚๐จ๐ง๐๐ฎ๐œ๐ญ ๐…๐ฎ๐ซ๐ญ๐ก๐ž๐ซ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก, ๐‚๐ฅ๐ข๐œ๐ค ๐‡๐ž๐ซ๐ž: https://www.maximizemarketresearch.com/market-report/global-heat-exchangers-market/3346/

๐‚๐จ๐ฆ๐ฉ๐ž๐ญ๐ข๐ญ๐ข๐ฏ๐ž ๐‹๐š๐ง๐๐ฌ๐œ๐š๐ฉ๐ž

Global market players are focusing on energy-efficient designs and strategic mergers and acquisitions to maintain a competitive edge.

๐Š๐ž๐ฒ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ

โ€ข Alfa Laval partnered with Outokumpu to produce heat exchangers using green stainless steel, aiming to reduce carbon emissions significantly.
โ€ข Danfoss Heat Exchangers established an in-house testing facility for plate heat exchangers with capacities ranging from 10-150 kW.
โ€ข Kelvion Holding GmbH invested $4.3 million to expand its production capacity, aiming to meet the increasing demand for heat exchangers in diverse sectors.
โ€ข SPX Flow introduced a new Plate Heat Exchanger Frame designed to enhance usability and durability while reducing costs for food and beverage operators.

๐Š๐ž๐ฒ ๐ช๐ฎ๐ž๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐š๐ง๐ฌ๐ฐ๐ž๐ซ๐ž๐ ๐ข๐ง ๐ญ๐ก๐ž ๐‡๐ž๐š๐ญ ๐„๐ฑ๐œ๐ก๐š๐ง๐ ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐š๐ซ๐ž:

What is Heat Exchanger?
What is the growth rate of the Heat Exchanger Market?
Which are the factors expected to drive the Heat Exchanger market growth?
What are the different segments of the Heat Exchanger Market?
What growth strategies are the players considering to increase their presence in Heat Exchanger?
What are the upcoming industry applications and trends for the Heat Exchanger Market?
What segments are covered in the Heat Exchanger Market?
Who are the key players in the Heat Exchanger market?


๐Š๐ž๐ฒ ๐Ž๐Ÿ๐Ÿ๐ž๐ซ๐ข๐ง๐ ๐ฌ:

Past Market Size and Competitive Landscape
Past Pricing and price curve by region
Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis

๐‚๐ก๐ž๐œ๐ค ๐จ๐ฎ๐ญ ๐š๐๐๐ข๐ญ๐ข๐จ๐ง๐š๐ฅ ๐ซ๐ž๐ฅ๐ž๐ฏ๐š๐ง๐ญ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ:

โ™ฃ Global Fully Automatic Vending Machines Market https://www.maximizemarketresearch.com/market-report/global-fully-automatic-vending-machines-market/44390/

โ™ฃ Europe Cleanroom Disposable Gloves Market https://www.maximizemarketresearch.com/market-report/europe-cleanroom-disposable-gloves-market/21821/

โ™ฃ Global Hermetic Laser Packaging Market https://www.maximizemarketresearch.com/market-report/global-hermetic-laser-packaging-market/102413/

โ™ฃ Global Waterproof Headphones Market https://www.maximizemarketresearch.com/market-report/global-waterproof-headphones-market/53538/

โ™ฃ Global Freezer Bags Market https://www.maximizemarketresearch.com/market-report/global-freezer-bags-market/26238/

โ™ฃ global tissue vending machine market https://www.maximizemarketresearch.com/market-report/global-tissue-vending-machine-market/68363/

โ™ฃ Global Bulb Packaging Market https://www.maximizemarketresearch.com/market-report/global-bulb-packaging-market/26075/

โ™ฃ global Air Care Product Market https://www.maximizemarketresearch.com/market-report/global-air-care-product-market/45357/

โ™ฃ Anime Market https://www.prnewswire.com/news-releases/anime-market-expands-with-warner-bross-new-ventures-and-blackstones-1-7b-manga-investment-finds-maximize-market-research-302198229.html

โ™ฃ Global Automatic Labeling Machine Market https://www.prnewswire.com/news-releases/global-automatic-labeling-machine-market-surges-as-food-industry-embraces-automation-finds-maximize-market-research-302199144.html

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ ๐Œ๐š๐ฑ๐ข๐ฆ๐ข๐ณ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

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๐€๐›๐จ๐ฎ๐ญ ๐Œ๐š๐ฑ๐ข๐ฆ๐ข๐ณ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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Plate Fin Heat Sinks vs. Heat Pipe Heat Sinks: Which is Right for Consumers?
In the modern industrial landscape, heat sinks [https://www.coolerchina.com/] play a crucial role in ensuring the stable operation and longevity of equipment by effectively dissipating heat generated by devices into the surrounding environment. Among the numerous types of heat sinks available, plate fin heat sinks and heat pipe heat sinks are two of the most common. This article will compare these two types, helping you choose the right one for yourโ€ฆ
05-17-2023 | Energy & Environment
Evolve Business Intelligence
Efficient Heat Transfer Solutions: Global Heat Pipe Heat Exchanger Market to Rea โ€ฆ
As per the study initiated by Evolve Business Intelligence, the global Heat Pipe Heat Exchanger market size accounted for USD 18.2 Billion in 2022, growing at a CAGR of 6.5% from 2023 to 2033. The Heat Pipe Heat Exchanger (HPHE) Market refers to the global market for heat exchangers that use heat pipes as a primary heat transfer element. Heat pipe heat exchangers are used in a wide range ofโ€ฆ
02-28-2023 | Energy & Environment
Report Ocean
India Heat Exchangers Market Size Set For Explosive Growth | Radiant Heat Exchan โ€ฆ
The India heat exchangers market accounted for $454.4 million in 2018, and is anticipated to reach $890.0 million by 2026, registering a CAGR of 8.6% from 2019 to 2026. Heat exchanger is a system designed to efficiently transfer energy between two or more fluids. The production of heat exchangers is a highly labor-intensive process, attributable to the long welding hours. Thus, heat exchangers are preferably manufactured in India, owing toโ€ฆ
01-20-2022 | Industry, Real Estate & Constr โ€ฆ
Evolve Business Intelligence
Exclusive Report on Heat Pipe Heat Exchanger Market: Heat Pipe Heat Exchanger Ma โ€ฆ
According to the study published by Evolve business intelligence, โ€œThe global Heat Pipe Heat Exchanger market size is expected to reach $ Billion by 2028 growing at the CAGR of 10% from 2021 to 2028. The report provides the reader with a deep-dive understanding of business opportunities, competitor analysis, market size and forecast, go-to-market strategy, and market share. After evaluating the next-gen business analytic report, the reader is directed toโ€ฆ
03-10-2017 | Industry, Real Estate & Constr โ€ฆ
ReportBazzar
Global Heat Pipe Heat Exchanger Market Research Report 2017
Summary This report studies Heat Pipe Heat Exchanger in Global market, especially in North America, Europe, China, Japan, Southeast Asia and India, focuses on top manufacturers in global market, with capacity, production, price, revenue and market share for each manufacturer, covering Mitsubishi Electric Corporation Nortek Air Solutions Munters Corporation Greenheck RenewAire DRI Innovative Air Solutions Reznor Zehnder America Ruskin Rooftop System Market Segment by Regions, this report splits Global into several key Regions, with production, consumption, revenue, market share and growthโ€ฆ