Heat Exchanger Market Expected to Post a Growth Rate Of 9.5 % CAFR from 2018 To 2023

Heat Exchanger Market Research Report- Forecast to 2023

Heat Exchanger Market Expected to Post a Growth Rate Of 9.5 % CAFR from 2018 To 2023

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Copyright © 2018 Market Research Future.

Heat Exchanger Market Research Report- Forecast to 2023

1 Summary Heat exchanger are devices whose primary responsibility is the transfer or exchange of heat from one medium to another. Heat exchanger are not only used in heating applications but are also used in cooling applications such as refrigerators and air conditioners. It is largely used in power plants, chemical plants, natural gas processing, sewage treatment, and petroleum refineries. The Global Heat Exchanger Market is growing with the rapid pace; mainly due to growing demand from chemical as well as natural gas processing industry

Key Players: Alfa Laval AB (Sweden), Kelvion Holdings Gmbh (Germany), Southern Heat Exchanger (U.S.) Danfoss A/S (Denmark), SPX Corporation (U.S.), Xylem Inc. (U.S.), API Heat Transfer Inc. (U.S), Gunter AG & Co. KG (Germany), Sierra S.p.A (Italy), and Hamon & Cie International SA (Belgium) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Heat Exchanger Market.

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Copyright Š 2018 Market Research Future.

Heat Exchanger Market Research Report- Forecast to 2023

2

Market Overview

Heat exchange is an important unit operation that contributes to efficiency and safety of many processes.

Heat transfer operations, of heat from one medium to another, holds high significance in industries such as chemicals, food, waste recovery, oil & gas, and others. Heat exchanger is a device that transfers thermal energy between one fluid to another fluid or solid surface and fluid, which are originally at different temperatures and are in thermal contact. The objectives served by heat exchangers include overheating prevention in power generation facilities, waste heat recovery, air cooling, general heat transference, and others.

According to a recent study report published by the Market Research Future, The global market of heat exchanger is booming and expected to gain prominence over the forecast period. The Global Heat Exchanger market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, CAGR of 8.2% during the estimated period (2017 – 2023).

Segments On the basis of type, market is segmented into Shell and Tube Heat Exchanger, Plate Heat Exchanger, Regenerative Heat Exchanger, Air cooled. Shell and Tube heat exchanger dominates the type segment of the market. It is most common types of heat exchangers used globally. This exchanger is used for hightemperature and high-pressure applications in oil refineries and other large chemical processes. The Plate Heat segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to the growing applications is food & beverage, petroleum & chemical processing and hydrocarbon processing.

On the basis of application, market is segmented into Chemicals, Oil & Gas, Power Generation, HVACR, Food & Beverages and Other. Chemicals dominates the application segment of the market followed by followed by petrochemical. HVACR segment is expected to grow at the highest CAGR during the forecast period.

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Copyright Š 2018 Market Research Future.

Heat Exchanger Market Research Report- Forecast to 2023

3 Market Research Analysis European region dominates the global Heat Exchanger Market. It is one of the leading region for plate & frame heat exchangers with respect to demand as well as production capacity. In Europe, Germany, U.K., and France are major contributors for the growth of the market. Additionally, it is the home of major heat exchanger manufacturers such as Kelvion Holdings Gmbh, Gunter AG & Co. KG and others.

Asia Pacific region is expected to witness the highest growth during the forecast period. China, India, Japan, Australia and Indonesia are among the major markets for Heat Exchanger in the Asia Pacific region. Rapid industrialization and urbanization driving the growth of the market in the region. Middle East is also the major market for the heat exchanger mainly due to growth in use in the refineries in Middle East

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Copyright Š 2018 Market Research Future.

Heat Exchanger Market Research Report- Forecast to 2023

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Copyright Š 2018 Market Research Future.