Global Non-Volatile Memory Market Research Report: Forecast to 2023
Global Heat Exchanger Market Research Report: Forecast to 2023
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Copyright Š 2017 Market Research Future.
Global Non-Volatile Memory Market Research Report: Forecast to 2023
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Copyright © 2017 Market Research Future.
Global Non-Volatile Memory Market Research Report: Forecast to 2023
Summary Heat exchangers are vital in the maintenance of safety and efficacy of various processes in diverse industries such as chemical, food, waste recovery, oil & gas, and others. They prevent overheating by transfer of thermal energy between one fluid to another or solid surface. The global heat exchanger industry is witnessing steady growth and is expected to grow at a CAGR of approximately 9.5% over the forecast period of 2017-2023, reveals Market Research Future (MRFR) in a minutely analyzed research report. Rapid industrialization across the globe, especially in developing countries is one of the prime factors augmenting the growth of the global heat exchangers market. Heat exchangers find extensive application in industries such as chemical and petrochemical. Heat exchangers are experiencing high demand from both commercial and non-commercial sector for the reduction of energy costs. The soaring energy price has prompted various energy-intensive industries to direct their focus towards energy-saving which induces high demand for heat exchangers. In addition, various measures by regulatory bodies to reduce greenhouse emissions and achieve sustainability is fostering the growth of the market. Initiatives to reduce dependency on crude oil derivatives have also spurred the adoption of heat exchangers. Technological advancements in heat exchangers have impacted the market growth positively. Improvements in technology and innovations in designs and efficiency are expected to open up new avenues for the growth of the global heat exchangers market. However, the market might be constrained by volatile raw material prices and the high cost of production.
Competitive Landscape Highly competitive, the heat exchanger market appears to be highly fragmented owing to the presence of several well-established players. These players incorporate strategic initiatives such as collaboration, acquisition, technology launch, partnership, and expansion to maintain their market positions. The market is estimated to witness a relentless product launch, which would intensify the competitive nature of this market, further. In the wake of increasing demand for heat exchanger, more models are envisaged to enter the mass market. Players emphasis on geographical expansion as well. Players leading the global heat exchanger market include Kelvion Holdings Gmbh (Germany), Alfa Laval AB (Sweden), Southern Heat Exchanger (US), SPX Corporation (US), Danfoss A/S (Denmark), Xylem Inc. (US), Gunter AG & Co. KG (Germany), API Heat Transfer Inc. (US), Sierra S.p.A (Italy), Koch Heat Transfer Company (US), Hamon & Cie International SA (Belgium), and Hughes Anderson Heat Exchangers (US), among others.
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Copyright Š 2017 Market Research Future.
Global Non-Volatile Memory Market Research Report: Forecast to 2023
Market Segmentation
The global heat exchanger market has been segmented based on type and application. Type-wise segmentation of the global heat exchanger market includes shell & tube, plate, regenerative, and air cooled. Owing to its competitive advantages such as high efficiency, low-pressure drops, easy maintenance & repair, massive potential for heat transfer, and erosion prevention, the shell & tube heat exchanger segment dominates the market. In addition, shell & tube heat exchangers are cost-effective and possess better drainage properties. Application-wise, the global heat exchanger market has been segmented into chemicals, oil & gas, power generation, HVACR, food & beverages, and others. The chemicals segment is the largest segment since heat exchangers are of prime importance in reaction systems such as purification systems, distillation columns, and reactors. The oil & gas segment is also an important segment.
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Copyright Š 2017 Market Research Future.
Global Non-Volatile Memory Market Research Report: Forecast to 2023
Regional Analysis North America, Europe, Asia Pacific, and the Middle East & Africa are the key markets for heat exchanger. Europe is the largest market for heat exchanger due to augmented demand from the region due to cold weather condition. Moreover, the region is leading in terms of production of plate & frame heat exchangers in regions such as Germany, UK, and France. Also, the region is home to major heat exchanger manufacturers such as Kelvion Holdings Gmbh, Gunter AG & Co. KG and others which provides an added advantage to Europe. Asia Pacific market is expected to witness maximum growth over the forecast period. Rapid industrialization in countries such as China, India, Japan, Indonesia, and Australia initiate the high demand for heat exchangers. The Middle East & Africa market generates substantial demand for heat exchangers owing to growing application in oil refineries. Highly competitive, the heat exchanger market appears to be highly fragmented owing to the presence of several well-established players. These players incorporate strategic initiatives such as collaboration, acquisition, technology launch, partnership, and expansion to maintain their market positions. The market is estimated to witness a relentless product launch, which would intensify the competitive nature of this market, further. In the wake of increasing demand for heat exchanger, more models are envisaged to enter the mass market. Players emphasis on geographical expansion as well.
Industry Updates: •
In October 2018, Komax System, an industry leader in static mixing technology, steam heaters, desuperheaters, and heat exchangers, launched a new advanced heat exchanger, the Komax KleanWall. The new heat exchanger is an advanced inline mixing system and has been backed by cuttingedge technology is capable of meeting the unique mixing requirements of users.
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October 2018- The manufacture of heat exchangers is limited to subtractive manufacturing processes which have proven to be inefficient. Conflux Technology, Australia-based additive manufacturing company has directed its efforts towards the development of new and innovative heat exchanger, Conflux Core heat exchanger with the utilization of 3D printing technology.
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May 29, 2019 - ARPA-E (Advanced Research Projects Agency-Energy), an American government agency involved in promoting and funding R&D of advanced energy technologies, announced a grant of USD 2.3 MN to Michigan State University for the development of 3D printed heat exchangers.
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Copyright © 2017 Market Research Future.
Global Non-Volatile Memory Market Research Report: Forecast to 2023
owned company based in Norway that has developed a field-proven portfolio of completion systems and intervention tools.
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Copyright Š 2017 Market Research Future.