Heat Exchanger Market size to exceed $13bn by 2025
Published Date: July 25, 2019
Heat Exchanger Market size will surpass USD 13 Billion by 2025, as reported in the latest study by Global Market Insights, Inc.
Robust industrial sector growth coupled with implementation of stringent government mandates & regulations toward reducing carbon footprint will positively influence the demand for heat transfer equipment. Oil & gas, power plants, food processing and primary metal manufacturing are some of the eminent application areas where these systems are deployed. Shifting trend toward achieving energy efficiency by developing economies has resulted in replacement and retro fitment of existing process equipment, which will further enhance the business growth.
Asia Pacific heat exchanger market is set to witness gains on account of increasing investments toward the development of industrial centers coupled with the growing manufacturing industry. Government plans toward development of new power generation facilitates coupled with implementation of stringent environmental mandates will further boost the installation of these systems. For instance, as per IBEF, India attracted FDI inflows over USD 14 billion between April 2000 and December 2018 across power sector.
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Shell & tube heat exchanger market demand will witness robust growth on account of ongoing development of new chemical production facilities. For instance, in September 2018, the American Chemistry Council (ACC) announced that 333 chemical sector projects have been announced since 2010 with total investments exceeding USD 200 billion. Cost effectiveness, low pressure-drop and high efficacy levels are some of the prominent features favoring the installation of these systems over other available alternatives.
Browse key industry insights spread across 280 pages with 268 market data tables & 45 figures & charts from the report, “Heat Exchanger Market Size By Technology (Shell & Tube, Plate, Air Cooled, Others), By Application (Oil & Gas, Chemical, Power Generation & Metallurgy, Marine, Mechanical Industry, Central Heating & Refrigeration, Food Processing, Others) Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents:
The U.S. heat transfer equipment market is anticipated to surpass USD 1 billion by 2025. Resurgent economic growth along with increasing investments toward retrofitting of industrial equipment with latest technology will enhance the industry landscape. Positive outlook toward food & beverage industry on account of growing demand for processed food along with increasing disposable income will further boost the product penetration. For instance, according to UNIDO, the estimated value of food and beverage industry in the U.S. was USD 64 Billion in 2005 when compared to 304 Billion in 2017.
Growing investments toward the installation of waste heat recovery systems (WHRS) across the industries coupled with rising demand for centralized cooling & heating across residential & commercial establishments will drive the heat exchanger market size. In addition, adoption of stringent norms aimed toward minimizing carbon emission will further propel the product deployment.
Heat transfer units have found increased penetration across food and beverage chemical, power generation and petrochemical industry. Increasing investments toward the upgradation of existing industrial centers coupled with growing demand of energy optimization across food processing industries will further complement industry growth. In addition, ongoing technological innovation & advancements toward the development of efficient and cost-effective heat transfer solutions will enhance the business landscape.
Notable industry participants in heat exchanger market include KNM, API, Kelvion, Danfoss, Wessels, Vahterus, Thermofin, Koch, Larsen & Toubro, Shandong Beichen, Doosan, Hitachi Zosen, HRS, SWEP, IHI, Xylem, FUNKE, Alfa Laval and Thermowave amongst others.
Heat Exchanger market research report includes in-depth coverage of the industry with estimates & forecast in terms of USD from 2014 to 2025, for the following segments:
Heat Exchanger Market, By Technology
- Shell & Tube
- Air Cooled
Heat Exchanger Market, By Application
- Oil & Gas
- Power Generation & Metallurgy
- Mechanical Industry
- Central Heating & Refrigeration
- Food Processing
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Middle-East & Africa
- Saudi Arabia
- South Africa
- Latin America
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