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Heat Exchanger Market Overview 2024-2030: Industry Trends and Future Projections

12-13-2024 01:50 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: MAXIMIZE MARKET RESEARCH PVT. LTD.

Heat Exchanger Market

Heat Exchanger Market

The global ๐‡๐ž๐š๐ญ ๐„๐ฑ๐œ๐ก๐š๐ง๐ ๐ž๐ซ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ is poised for significant growth in the coming years, with a compound annual growth rate (CAGR) of 5.5% projected from 2024 to 2030. According to the latest report by Maximize Market Research, the global heat exchangers market, valued at US$ 19.65 Bn in 2023, is expected to reach US$ 28.58 Bn by 2030. This growth is primarily attributed to the increasing demand for energy-efficient systems in industries such as HVAC, chemicals, food and beverage, and power generation.

Heat exchangers are essential devices in industrial processes where heat transfer is necessary between two or more fluids, and they play a pivotal role in reducing energy consumption. The rising global focus on reducing carbon emissions and enhancing energy efficiency in industrial processes is further expected to boost the demand for heat exchangers in various regions.

๐”๐ง๐ฅ๐จ๐œ๐ค ๐œ๐ซ๐ข๐ญ๐ข๐œ๐š๐ฅ ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐›๐ฒ ๐ž๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ข๐ง๐  ๐ญ๐ก๐ž ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐ฏ๐ข๐š ๐ญ๐ก๐ž ๐ฅ๐ข๐ง๐ค @https://www.maximizemarketresearch.com/request-sample/3346/

๐‡๐ž๐š๐ญ ๐„๐ฑ๐œ๐ก๐š๐ง๐ ๐ž๐ซ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐•๐ข๐ž๐ญ๐ง๐š๐ฆ

Vietnam is experiencing significant economic growth, and its industrial sector is expanding rapidly, particularly in manufacturing, automotive, and energy. The government's emphasis on energy efficiency and sustainable industrial practices presents a unique opportunity for the heat exchangers market in the country.

๐Š๐ž๐ฒ ๐ญ๐ซ๐ž๐ง๐๐ฌ:

Rapid Industrialization: As Vietnam strengthens its manufacturing and construction sectors, the demand for heat exchangers to support energy management systems is growing.
Energy Efficiency Initiatives: The Vietnamese government is prioritizing energy-efficient solutions in industrial production processes, fueling demand for advanced heat exchangers.

๐‘๐ž๐œ๐ž๐ง๐ญ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ:

The ๐•๐ข๐ž๐ญ๐ง๐š๐ฆ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ๐ข๐ญ๐ฒ (๐„๐•๐) has initiated several energy efficiency programs that have increased the adoption of heat exchangers in power plants and industrial facilities across the country.

๐‡๐ž๐š๐ญ ๐„๐ฑ๐œ๐ก๐š๐ง๐ ๐ž๐ซ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐“๐ก๐š๐ข๐ฅ๐š๐ง๐

Thailand's industrial sector, which includes automotive, petrochemical, and electronics manufacturing, continues to experience robust growth. The rising demand for energy-efficient solutions within these sectors is expected to drive the heat exchangers market forward.

๐Š๐ž๐ฒ ๐ญ๐ซ๐ž๐ง๐๐ฌ:

Growing Industrial Demand: Thailand is becoming a regional manufacturing hub for industries like automotive and electronics, which require advanced heat exchangers for cooling and energy recovery.
Green Initiatives: Thailand has set ambitious goals to reduce carbon emissions, which has led to increased investments in energy-efficient technologies, including heat exchangers.

๐‘๐ž๐œ๐ž๐ง๐ญ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ:

In 2023, ๐“๐ก๐š๐ข ๐Ž๐ข๐ฅ ๐†๐ซ๐จ๐ฎ๐ฉ partnered with ๐‡๐ž๐š๐ญ ๐„๐ฑ๐œ๐ก๐š๐ง๐ ๐ž๐ซ ๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐ž๐ฌ ๐ˆ๐ง๐œ. to enhance the efficiency of heat exchange systems in refineries, aiming to reduce fuel consumption and enhance sustainability.

๐†๐ž๐ญ ๐š ๐œ๐ฅ๐จ๐ฌ๐ž๐ซ ๐ฅ๐จ๐จ๐ค ๐š๐ญ ๐ญ๐ก๐ž ๐ ๐š๐ฆ๐ž-๐œ๐ก๐š๐ง๐ ๐ข๐ง๐  ๐ฉ๐ซ๐จ๐๐ฎ๐œ๐ญ๐ฌ ๐๐ซ๐ข๐ฏ๐ข๐ง๐  ๐ฌ๐ฎ๐œ๐œ๐ž๐ฌ๐ฌ :https://www.maximizemarketresearch.com/request-sample/3346/

๐‡๐ž๐š๐ญ ๐„๐ฑ๐œ๐ก๐š๐ง๐ ๐ž๐ซ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐‰๐š๐ฉ๐š๐ง

Japan remains one of the largest consumers of heat exchangers in the Asia-Pacific region due to its strong industrial base and advanced manufacturing sector.

๐Š๐ž๐ฒ ๐ญ๐ซ๐ž๐ง๐๐ฌ:

Technological Advancements: Japan continues to lead the world in the development of energy-efficient and environmentally friendly heat exchanger solutions.
Aging Infrastructure: The need to upgrade Japan's aging industrial infrastructure, including power plants and factories, is driving demand for modern heat exchangers.

๐‘๐ž๐œ๐ž๐ง๐ญ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ:

In 2024, Mitsubishi Heavy Industries announced a major acquisition of ๐‡๐ž๐š๐ญ๐„๐ฑ ๐’๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ, a company specializing in heat recovery systems, which is expected to enhance Mitsubishi's product offerings in the industrial heat exchanger market.

๐‡๐ž๐š๐ญ ๐„๐ฑ๐œ๐ก๐š๐ง๐ ๐ž๐ซ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐’๐จ๐ฎ๐ญ๐ก ๐Š๐จ๐ซ๐ž๐š

South Korea's heavy industries, including shipbuilding, petrochemicals, and steel production, continue to drive the demand for high-efficiency heat exchangers.

๐Š๐ž๐ฒ ๐ญ๐ซ๐ž๐ง๐๐ฌ:

Green Technologies: South Korea is investing heavily in green technologies, including hydrogen production, which drives the need for specialized heat exchangers in these applications.
Smart Manufacturing: The country's focus on Industry 4.0 has led to the integration of smart heat exchanger systems in industrial plants.

๐‘๐ž๐œ๐ž๐ง๐ญ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ:

In 2023, ๐’๐š๐ฆ๐ฌ๐ฎ๐ง๐  ๐„๐ง๐ ๐ข๐ง๐ž๐ž๐ซ๐ข๐ง๐  secured a contract for installing advanced heat exchangers at a petrochemical plant in Ulsan, enhancing operational efficiency and sustainability.

๐‡๐ž๐š๐ญ ๐„๐ฑ๐œ๐ก๐š๐ง๐ ๐ž๐ซ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐”๐ฉ๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐’๐ข๐ง๐ ๐š๐ฉ๐จ๐ซ๐ž

Singapore has positioned itself as a regional leader in advanced manufacturing and technology, with a strong focus on energy efficiency and sustainability. The demand for heat exchangers is growing across industries like pharmaceuticals, electronics, and petrochemicals.

๐Š๐ž๐ฒ ๐ญ๐ซ๐ž๐ง๐๐ฌ:

Sustainability Focus: Singapore's commitment to sustainability through various energy management initiatives has created a solid demand for advanced heat exchangers.
Urbanization and Industrial Growth: The construction sector, including commercial buildings and residential complexes, is growing, further driving the need for efficient HVAC systems and heat exchangers.

๐‘๐ž๐œ๐ž๐ง๐ญ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ:

๐Š๐ž๐ฉ๐ฉ๐ž๐ฅ ๐‚๐จ๐ซ๐ฉ๐จ๐ซ๐š๐ญ๐ข๐จ๐ง and ๐’๐ž๐ฆ๐›๐œ๐จ๐ซ๐ฉ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐ž๐ฌ have jointly launched a new heat exchanger product line designed to improve energy recovery in Singapore's power generation and industrial facilities.

๐„๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ž ๐๐ž๐ญ๐š๐ข๐ฅ๐ž๐ ๐๐š๐ญ๐š ๐š๐ง๐ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐›๐ฒ ๐ฏ๐ข๐ž๐ฐ๐ข๐ง๐  ๐ญ๐ก๐ž ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž @https://www.maximizemarketresearch.com/request-sample/3346/

๐‡๐ž๐š๐ญ ๐„๐ฑ๐œ๐ก๐š๐ง๐ ๐ž๐ซ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‚๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐ญ๐ก๐ž ๐”๐ง๐ข๐ญ๐ž๐ ๐’๐ญ๐š๐ญ๐ž๐ฌ

The United States remains a dominant player in the global heat exchangers market, with significant growth in the energy, automotive, and manufacturing sectors.

๐Š๐ž๐ฒ ๐ญ๐ซ๐ž๐ง๐๐ฌ:

Strong Demand for Clean Energy: The rise of renewable energy sources, including geothermal and solar, is driving the demand for specialized heat exchangers.
Automotive and Aerospace: Increased production of electric vehicles and aerospace components is further augmenting demand for advanced heat exchangers.

๐‘๐ž๐œ๐ž๐ง๐ญ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ:

In 2023, ๐†๐ž๐ง๐ž๐ซ๐š๐ฅ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ (๐†๐„) and ๐‡๐จ๐ง๐ž๐ฒ๐ฐ๐ž๐ฅ๐ฅ completed a merger in the industrial heat exchanger sector, combining their technologies to offer more efficient heat recovery systems for large-scale power plants.

๐‡๐ž๐š๐ญ ๐„๐ฑ๐œ๐ก๐š๐ง๐ ๐ž๐ซ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐„๐ฎ๐ซ๐จ๐ฉ๐ž

Europe's heat exchangers market is driven by the region's stringent environmental regulations and growing demand for energy-efficient technologies across industries like automotive, manufacturing, and HVAC.

๐Š๐ž๐ฒ ๐ญ๐ซ๐ž๐ง๐๐ฌ:

Energy Transition: Europe's commitment to the energy transition, with a focus on reducing fossil fuel dependency, is boosting the adoption of heat exchangers in renewable energy projects.
Technological Innovations: European companies are investing in R&D to create more efficient and compact heat exchangers that cater to diverse industrial needs.

๐‘๐ž๐œ๐ž๐ง๐ญ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ:

๐’๐œ๐ก๐ง๐ž๐ข๐๐ž๐ซ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ announced a strategic acquisition of ๐“๐ก๐ž๐ซ๐ฆ๐ž๐ฑ ๐‡๐ž๐š๐ญ ๐„๐ฑ๐œ๐ก๐š๐ง๐ ๐ž๐ซ๐ฌ, a move that will expand Schneider Electric's presence in the energy-efficient heat exchange systems market across Europe.

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 & Frame
Shell &Tube
Air Cooled
Others

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

Metals
Alloy
Brazing Clad

Heat exchanger makers frequently utilize metals like copper, stainless steel, and aluminum in their designs because they are preferred by heat exchanger manufacturers due to their high thermal conductivity and effective heat transfer. The mechanical strength and endurance of these metals guarantee the heat exchanger system's lifespan. In addition to being more affordable than other materials, these metals have gained popularity among manufacturers in recent years.

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

Chemicals
Oil & Gas
Power Generation
HVAC
Automobile
Food & Beverages
Others

Because heat exchangers are used in many different processes, including cooling, condensing, heating, evaporation, and many more, the chemical sector is seeing the fastest development in the heat exchanger market. Heat exchangers are widely used in the chemical sector because of their features, adaptability, anti-corrosive qualities, and capacity to manage different solids levels. Heat exchangers with specialized designs are utilized to meet the needs of the chemical industry for handling hazardous compounds. Second, heat exchangers are frequently used to regulate the temperature of manufacturing processes in energy power plants, HVAC systems, and the oil and gas sector.

๐†๐ž๐ญ ๐š ๐๐ž๐ญ๐š๐ข๐ฅ๐ž๐ ๐š๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:https://www.maximizemarketresearch.com/market-report/global-heat-exchangers-market/3346/

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ก๐ž๐œ๐ค ๐จ๐ฎ๐ญ ๐จ๐ฎ๐ซ ๐ญ๐ซ๐ž๐ง๐๐ข๐ง๐  ๐ฌ๐ญ๐ฎ๐๐ข๐ž๐ฌ ๐ญ๐จ ๐ฎ๐ง๐๐ž๐ซ๐ฌ๐ญ๐š๐ง๐ ๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ฌ๐ก๐ข๐Ÿ๐ญ๐ฌ :

โ™ฆ Yacht Market https://www.maximizemarketresearch.com/market-report/yacht-market/124963/

โ™ฆ Food Logistics Market https://www.maximizemarketresearch.com/market-report/global-food-logistics-market/94551/

โ™ฆ Global Solar Lights Market https://www.maximizemarketresearch.com/market-report/solar-lights-market/183919/

โ™ฆ District Heating Market https://www.maximizemarketresearch.com/market-report/global-district-heating-market/26373/

โ™ฆ Downhole Tools Market https://www.maximizemarketresearch.com/market-report/global-downhole-tools-market/23682/

โ™ฆ Sodium Bicarbonate Market https://www.maximizemarketresearch.com/market-report/global-sodium-bicarbonate-market/25245/

โ™ฆ Global Robot Software Market https://www.maximizemarketresearch.com/market-report/robot-software-market/140448/

โ™ฆ Premium Bottled Water Market https://www.maximizemarketresearch.com/market-report/premium-bottled-water-market/189209/

โ™ฆ Global Fish Sauce Market https://www.maximizemarketresearch.com/market-report/global-fish-sauce-market/116867/

โ™ฆ Global Musical Instruments Market https://www.maximizemarketresearch.com/market-report/global-musical-instruments-market/27141/

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ ๐”๐ฌ:

MAXIMIZE MARKET RESEARCH PVT. LTD.
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Pune Banglore Highway, Narhe
Pune, Maharashtra 411041, India.
+91 9607365656
sales@maximizemarketresearch.com

๐€๐›๐จ๐ฎ๐ญ ๐”๐ฌ:

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Global Ceramic Heat Sink Heat Sink Market Drivers Analysis 2025
According to our (Global Info Research) latest study, the global Ceramic Heat Sink Heat Sink market size was valued at US$ million in 2024 and is forecast to a readjusted size of USD million by 2031 with a CAGR of %during review period. This report is a detailed and comprehensive analysis for global Ceramic Heat Sink Heat Sink market. Both quantitative and qualitative analyses are presented by manufacturers, by region &โ€ฆ
10-14-2024 | Associations & Organizations
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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
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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
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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
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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
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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