The global heat exchanger will witness a robust CAGR of 5.3%, valued at $16.32 billion in 2021, expected to appreciate and reach $25.9 billion by 2030, confirms Strategic Market Research. Asia-Pacific will dominate the world's heat exchanger industry with a market share of over 30% in 2020. A heat exchanger is equipment that converts heat from one working fluid to another. Heat exchangers are widely used for both cooling and heating purposes. A solid wall separates the liquids from one another to prevent the liquid's mixing. They are widely used for various things, including home heating, air conditioning systems, refrigeration, hydropower dams, waste treatment, the production of oil and gas, chemical and petrochemical plants, and many others. The most typical application of a heat exchanger is in internal combustion engines, where an engine coolant flows through radiator coils while air passes by, cooling the coolant and heating the incoming air.
Another example is the heat sink, a type of passive heat exchanger that transfers heat from an electrical or mechanical device into a fluid medium, usually air or a fluid coolant. It is a piece of machinery used to control a system's operational temperature and waste heat. Two fluids or gas and fluid mixtures operating the device are at various temperatures and heat levels. For heat transfer between fluids or air where one flows through the pipes and the other flows above the pipes, tubes or pipes are typically preferred. These are utilized in several processes, including chillers, vaporizers, reboilers, evaporators, and condensation. Air conditioning, refrigeration, chemical processing, power generation, and automotive applications play a crucial role in the system. In 2020, there were 26823.2 Terawatt-hours (TWh) generated in total. In the upcoming years, more growth in the power demand is anticipated. The global health calamity brought by the unforeseen spread of the new coronavirus, also known as COVID-19, has devastatingly influenced every business. Due to the implementation of stringent rules like the national lockdown to stop the virus's spread, industries had to lose substantial operational time. As a result, the illness outbreak has changed the demand because the Heat exchanger industry reduced its production in 2019-2020. Government restrictions led to the reduction of these exchangers' manufacturing plants in several nations. Even after some constraints were lifted, a scarcity of workers still hindered output. But after the epidemic, demand is poised to surge drastically due to a greater need to meet district energy and renewable energy standards and the requirement to meet HVAC demand. For instance, the U.K. Government has said that by 2030, district heating networks will be able to meet 17% of U.K. heating needs.
Key Industry Drivers
Rapid Growth of the Industrial Sector Across the Globe to Drive the Market, the Ability to Improvise Efficiency by Capturing the Waste Heat to Drive the overall heat exchanger market growth, and the expansion of the chemical and petrochemical industries will drive demand for heat exchangers worldwide.
Heat exchangers are installed in different types of industries for a variety of applications. For instance, these are employed in the pasteurizing of food and beverage products and heat recovery in the oil, gas, and power industries. Apart from the applications mentioned above, these are mostly employed as cooling equipment in the industrial sector. These heat exchangers are cooled by coolants that regulate the system's working temperature. Due to increased energy demands and power consumption, the application scope is growing alongside the rise of all industries mentioned above. The global demand for this exchanger is expected to increase during the forecast period due to all the above-mentioned factors. The US government offered a 9% tax credit to counteract the increase in demand. According to a researcher's analysis, this decision led to an additional 30% increase in industrial growth.
Every industry globally generates waste heat that can be captured and used to utilize high temperatures and energies. The tools like waste heat boilers and heat recovery steam generators are in great demand across all industrial verticals because they are outfitted with the functionality to perform the same. As a result of improving heat utilization and lowering energy costs per unit, their use ultimately results in profits for the owner. The expansion of application industries, including the food and beverage industry and power plants, encourages investments in such exchangers. According to research, Asia Pacific would invest 25% more in constructing power plants due to the rapidly growing demand in the region.
According to a study, the North American petrochemical industry would grow by 8% in 2022 and grow by 2.5% in 2020 to meet global demand. The growing private end-use sector is a major driver of the expansion of the chemical industry in the United States. Increasing demand for various end-use applications drives further investment in the chemical industry. Heat exchangers are used to cooling, heat, and mix various components to manufacture chemicals. The increasing growth of the chemical sector is the main factor driving the industry for heat exchangers. By the end of the year 2022, China will account for more than 50% of the revenues across Asia for the automotive heat exchanger industry. It saw a substantial increase as compared to ten years’ data. Given the extensive product penetration in a wide range of applications, including preservative moisture in the air, different material mixtures, hydrocarbons heat exchange, electrical heating of water circuits, thermal dissipation of hydrocarbons, convective heat transfer & refrigeration of intermediate products, heating & cooling of reactors, and much more, it is predicted that the dynamically growing energy industry in Asia, particularly in Asian nations such as china, will act as a significant driving factor for the market for heat exchangers. Market Restraints: - (High maintenance costs are preventing market expansion)
One of the key market restraints is the devices' propensity for scaling and corrosion and the daunting task of cleaning the tubes. The interior parts of the heat exchangers are prone to corrosion as they deal with various chemicals and water types, and the difficulty of maintenance and part replacement further increases the losses. These elements may limit the market's ability to expand.
Opportunities - Rapid Industrialization, New Nuclear Power Plant Projects
Rapid urbanization in the developing nations of Asia-Pacific, together with higher investment in commercial, industrial, and manufacturing projects, has contributed to the region's overall growth in the heat exchangers industry. This expansion can be attributed to increasing market penetration in numerous end-use industries, including power generation, petrochemicals, chemicals, HVAC & refrigeration, and food & beverage. As the main consumers of heat exchangers, industrialized nations like Europe and North America are being replaced by a significant number of growing economies in Asia, including China and India. Due to its current acquisition of 14.76 percent of the global heat exchanger market, China is predicted to overtake all other countries as the industry's leader by 2030. Increasing environmental regulations, widespread industrial dispersion, heavy government regulation, and the growing importance of specialty chemicals are all factors that have contributed to China's petrochemical industry's development. Profitable opportunities for the market expansion of heat exchangers are created by rising energy demand.
The rise in nuclear power facilities will be a major driver of the heat exchangers market. The heat exchangers significantly impact a nuclear power station's overall effectiveness and power production. Key growth prospects for the heat exchanger market players include the expansion of heat exchangers used in nuclear reactors and plant upgrades and new nuclear power plant proposals. In 2021, Japan announced 22 coal-fired power plants in 17 locations, and currently, the number is 150. Also, China has built more than half of the coal-fired power plants around Mainland China as other countries produce. These initiatives will use coal to generate electricity. Since heat exchangers are utilized in all coal-fired power plants, their market is projected to experience significant growth. There will be prospects for the market for heat exchangers in the future, with 443 nuclear reactors operating in 32 nations throughout the world as of 2020, and more than 60 reactors are now under development. This represents 29% of the worldwide reactor capacity.
Based on Product Type
Shell and Tube
Microchannel Heat Exchanger
Plate and Frame
Brazed Plate & Frame Heat Exchanger
Gasketed Plate & Frame Heat Exchanger
Welded Plate & Frame Heat Exchanger
Air-Cooled
Other types
Based on End-User
Chemical and Petrochemical
HVAC and Refrigeration
Power Generation
Food and Beverage industry
Oil and Gas
Pulp & Paper
Others
Regional Coverage Analysis
North America
United States
Canada
Mexico
Europe
Germany
France
Italy
Asia Pacific
China
Japan
India
Central & South America
Brazil
Middle East & Africa
Saudi Arabia
UAE
Product Type Analysis & Insights
The heat exchanger market is divided into shell and tube, plate and frame, air-cooled, microchannel, and other categories depending on the product type. In 2021, the shell and tube category dominated the market for heat exchangers, and it is anticipated that this pattern will hold true for the duration of the forecast period. It is expected to be valued at USD 6220 million in 2021 and USD 8900 million in 2030, with a CAGR of 4.38 percent. A shell and tube heat exchanger is a kind of heat exchanger that consists of and involves a cylinder that carries one fluid, while the smaller cylinders inside carry another fluid. Shell & tube heat exchanger, which utilizes downflow of feed gas via the tubes, can be utilized for feed gas cooling.
End-User Analysis & Insights
Chemical and petrochemical products dominated the market in 2021, with 22 % of the global revenue demand of the heat exchanger market. Because of its qualities, including flexibility in design and high corrosion resilience, heat exchangers have made a significant contribution to the chemical processing industry (CPI). These qualities allow them to control fluids with different amounts of solid material. The growing need for textiles, polymers, computer equipment, medical equipment, and packaging will certainly lead to the expansion of the petrochemical sector. Electric cars, solar panels, and wind turbine blades will boost the market for the petrochemical industries due to the adoption of current technologies. During the projection period, a CAGR of 4.7% is predicted for the demand for heat exchangers in the oil and gas end-use industry. Demand for heat exchangers is anticipated to rise as shale gas is increasingly used in manufacturing and the energy sectors. Shale gas exploration operations have increased due to technical developments in exploration. Moreover, the expansion of oil and gas projects in different economies probably drives the economic expansion of oil and gas industries.
Regional Analysis & Insights
Over the forecasted period, demand for heat exchangers in the Asia Pacific area is expected to increase at a CAGR of 6 %. The fast industrialization has stimulated the need for heat exchangers in the region by the developing countries of the Asia Pacific and increased investments in commercial, industrial, and manufacturing projects, which has benefited the entire Asian region. With a market value of USD 5.67 by 2030, the global market in the Asia Pacific region is destined to rise significantly. The strict environmental protection regulations of the European Commission are to blame for the decline in the market value of the heat exchanger industry in European countries. The European Commission sets significant greenhouse gas reduction targets, including cutting emissions of greenhouse gases by 15% and improving energy efficiency by 25%. To grow North America's share of the global market, several well-known North American companies in the oil and gas, ICT, HVAC, automotive, aviation, and aerospace sectors aim to take advantage of this opportunity.
Report Attribute
Details
Forecast Period
2021 - 2030
The market size value in 2021
USD 16.32 billion
The revenue forecast in 2030
USD 25.9 billion
Growth rate
CAGR of 5.3 %
The base year for estimation
2021
Historical data
2017 – 2020
Unit
USD Billion, CAGR (2021 - 2030)
Segmentation
By Product Type
By End-User
By Region
Shell And Tube
Plate And Frame
Food and Beverage
the U.S.
the Asia Pacific
The competitive landscape study provides an insight into some significant market participants. The development of the industry has been aided by product innovation and ongoing R&D activities to manufacture sophisticated technologies. There are numerous prominent players in the Heat Exchanger Market, some of which are listed below:
General Electric Company
Alfa Laval AB
Kelvion Holding GmbH
Danfoss AS
Hisaka Works Ltd
Exchanger Industries Limited
Mersen
API Heat Transfer
Boyd Corporation
XYLEM
Johnson Controls
Recent Developments
The BX4T brazed plate heat exchanger (BPHE), the newest addition to the B4-sized range for the refrigeration sector, was introduced by SWEP, a division of Dover Corporation, in January 2021. The BX4T is ideal for variable refrigerant flow (VRF), heat pumps, and condensing units since it has a more compact design than previous economizers.
To create brazed heat exchangers, ALFA LAVAL built a new factory in San Bonifacio, Italy, in 2021. (BHE). The new factory will have more capacity to supply the increased demand for heat exchangers from customers. The facility also has training centers and an advanced research lab for refrigerant studies. The corporation wants to increase manufacturing capacity while fostering close customer relationships.
To increase its commercial activities in North America, BOYD Corporation opened a new production plant in Juarez, Mexico, in 2021. The business will produce diverse designed materials and thermal systems in an automated setting using renewable energy. A quality management system will be accredited for the 40.000 square metre facility. The growth strategy will increase production capacity for intricate liquid cooling systems, liquid cold plates, and cutting-edge rotary dies to serve the North American market.
To create digital solutions that simplify service and maintenance for its selection of plate heat exchangers, Alfa Laval and Microsoft entered into a global collaboration agreement in December 2021. The new gadgets' end-users will be able to ascertain the consumers wants thanks to artificial intelligence (A.I.).
A subscale 3D printed heat exchanger was constructed and tested in June 2021 by an interdisciplinary team from G.E. Research, led by Lana Osusky, ln association with eminent scientists from The Oak Ridge National Laboratory, as well as from the University of Maryland, at temperatures that met the project's target of 900°C and at pressures that came near to the target of 250 bar. This temperature is greater than 200°C, or around 400°F, higher than what modern technology can withstand.
Name
Feature
Key Player
Large size PHE
Plate Types and Dimensions in a Plate Heat Exchanger (PHE) Structure. The feat of "energy saving" is made possible by HISAKA's Heat Exchanger Division, whose heat transfer plate is around 1.2 times larger than a flat plate.
Hisaka
shell-and-tube heat exchangers
Alfa Laval Olmi's specialized heat exchangers are made for the most demanding uses in the chemical processing, power generation, and oil & gas industries. As a result of their high reliability and low maintenance needs, these units maximize plant sustainability while still having a competitive total cost of ownership and trouble-free operation.
Alfa Laval
Welded PHE
Welded plates increase the potential of plate heat exchangers. Plate heat exchanger with welding through thin metal heat transfer plates that have been press-molded, plate heat exchangers exchanges heat. They replace Shell and Tube in many industrial applications since they are high-performing, light, and compact.
b: The global heat exchanger market size was $16.32 Bn in 2021 and is predicted to reach $25.9 billion in 2030.
b: The Heat Exchanger Market is examined between 2021 to 2030.
b: Over the next ten years, the heat exchanger market is expected to expand at a CAGR of more than 5.3 percent.
b: The Asia Pacific will experience the fastest growth between 2020 and 2030.
b: In 2021, Asia Pacific will hold the largest proportion.
b: The principal players in the heat exchanger market include General Electric Company, Alfa Laval AB, Kelvion Holding GmbH, Danfoss AS, and Hisaka Works Ltd.
Sources
https://www.epa.gov/ghgemissions/sources-greenhouse-gas-emissions
https://www.oecd.org/derec/unitedkingdom/40700982.pdf
https://www.adb.org/sites/default/files/publication/611911/asia-pacific-renewable-energy-status.pdf
https://www.iea.org/reports/the-future-of-petrochemicals
1. Introduction 1.1. Study Objective 1.2. Market Definition 1.3. Study Scope 1.3.1. Markets Covered 1.3.2. Geographic Scope 1.3.3. Years Considered 1.3.4. Stakeholders 2. Research Methodology 2.1. Data Procurement 2.2. Paid Database 2.2.1. Secondary Data 2.2.1.1. Key Secondary sources 2.2.2. Primary Data 2.2.2.1 Primary sources 2.2.2.2. Key industry insights 2.2.2.3. Primary interviews with experts 2.2.2.4. Key primary respondent list 2.3. Market Size Estimation 2.4. Bottom-Up and Top-Down Approaches 2.4.1. Bottom-Up Approach 2.4.1.1. Approach for arriving at market size by bottom-up analysis 2.4.2. Top-Down Approach 2.4.2.1. Approach for Capturing Market Size by Top-Down Analysis 2.5. Market Breakdown and Data Triangulation 2.6. Research Methodology 2.7. Risk Assessment 3. Executive Summary 3.1 Heat Exchanger Market: Post-Covid-19 3.1.1 Actual Scenario 3.1.2 Pessimistic Scenario 3.1.3 Optimistic Scenario 3.1.4 Market Summary 4. Industry Outlook 4.1 Market Snapshot 4.2 Heat Exchanger Market 4.2.1 Market, 2021 - 2030 (USD Million) 4.3 Regional Business Analysis 4.3.1 Market, by region, 2021 - 2030 (USD Million) 4.4 Product Type Business Analysis 4.4.1 Market, By Product Type, 2021 - 2030 (USD Million) 4.5 End-User Business Analysis 4.5.1 Market, By End-User, 2021 - 2030 (USD Million) 4.6 Value Chain Analysis 4.7 Market Variable Analysis 4.7.1 Market Drivers Analysis 4.7.2 Market Restraints Analysis 4.8 Business Environment Analysis Tool 4.8.1 Market PEST analysis 4.8.2 Market Porter’s analysis 4.9 Penetration & Growth Prospect Mapping 5. Market Dynamics 5.1. Introduction 5.2. Market Dynamics 5.2.1. Drivers 5.2.2. Restraints 5.2.3. Opportunities 5.2.4. Challenges 5.3. Impact of Covid-19 On Market 5.4. Value Chain Analysis 5.5. Ecosystem 5.6. Patent Analysis 5.7. Trade Analysis 5.8. Tariff Analysis 5.9. Case Study Analysis 5.10. Porter’s Five Forces Analysis 5.10.1 Threat of New Entrants 5.10.2 Threat of Substitutes 5.10.3 Bargaining Power of Buyers 5.10.4 Bargaining Power of Suppliers 5.10.5 Degree of Competition 5.11. End-User Analysis 5.11.1. Trends in End-User (2014-2020) 5.11.2. Trends in End-User (2021-2028) 5.12. Pricing Analysis 5.12.1. Average Price Trend Analysis (By Region, By Country) 6. Competitive & Vendor Landscape 6.1. Company Market Share Analysis 6.2. Manufacturers Facial Implants Manufacturing Sites, Area Served, Product Type 6.3. Market Competitive Situation and Trends 6.4. Manufacturers Mergers & Acquisitions, Expansion Plans 7. Market: By Product Type Segment Analysis 7.1. Introduction 7.2. Sales Volume & Revenue Analysis (2021-2030) 7.3. Shell and Tube 7.3.1. Shell and Tube market, 2021 - 2030 (USD Million) 7.4. Microchannel Heat Exchanger 7.4.1. Microchannel Heat Exchanger market, 2021 - 2030 (USD Million) 7.5. Plate and Frame 7.5.1. Plate and Frame market, 2021 - 2030 (USD Million) 7.5.1. Brazed Plate & Frame Heat Exchanger market, 2021 - 2030 (USD Million) 7.5.1. Gasketed Plate & Frame Heat Exchanger market, 2021 - 2030 (USD Million) 7.5.1. Welded Plate & Frame Heat Exchanger market, 2021 - 2030 (USD Million) 7.6. Air-Cooled 7.6.1. Air-Cooled market, 2021 - 2030 (USD Million) 7.7. Other types 7.7.1. Other types of market, 2021 - 2030 (USD Million) 8. Market: By End-User Segment Analysis 8.1. Introduction 8.2. Sales Volume & Revenue Analysis (2021-2030) 8.3. Chemical and Petrochemical 8.3.1. Chemical and Petrochemical market, 2021 - 2030 (USD Million) 8.4. HVAC and Refrigeration 8.4.1. HVAC and Refrigeration market, 2021 - 2030 (USD Million) 8.5. Power Generation 8.5.1. Power Generation market, 2021 - 2030 (USD Million) 8.6. Food and Beverage industry 8.6.1. Food and Beverage industry market, 2021 - 2030 (USD Million) 8.7. Oil and Gas 8.7.1. Oil and Gas market, 2021 - 2030 (USD Million) 8.8. Pulp & Paper 8.8.1. Pulp & Paper market, 2021 - 2030 (USD Million) 8.9. Others 8.9.1. Others market, 2021 - 2030 (USD Million) 9. Market: Regional Outlook 9.1 North America 9.1.1. North America Market, By Product Type, 2021 - 2030 (USD Million) 9.1.4. North America Market, By End-User, 2021 - 2030 (USD Million) 9.1.5. North America Market, by Country, 2021 - 2030 (USD Million) 9.1.4.1. U.S. 9.1.4.1.1. U.S. Market, By Product Type, 2021 - 2030 (USD Million) 9.1.4.2. Canada 9.1.4.2.1. Canada Market, By Product Type, 2021 - 2030 (USD Million) 9.1.4.2.2. Canada Market, By Region, 2021 - 2030 (USD Million) 9.1.4.2.3. Canada Market, By End-Users, 2021 - 2030 (USD Million) 9.2. Europe 9.2.1. Europe Market, By Product Type, 2021 - 2030 (USD Million) 9.2.2. Europe Market, by By End-User, 2021 - 2030 (USD Million) 9.2.5. Europe Market, by country, 2021 - 2030 (USD Million) 9.2.4.1 U.K. 9.2.4.1.1. U.K. Market, By Product Type, 2021 - 2030 (USD Million) 9.2.4.1.2. U.K. Market, By End-Users, 2021 - 2030 (USD Million) 9.2.4.1.3. U.K. Market, by Region, 2021 - 2030 (USD Million) 9.2.4.2. Germany 9.2.4.2.1. Germany Market, By Product Type, 2021 - 2030 (USD Million) 9.2.4.2.2. Germany Market, By End-User, 2021 - 2030 (USD Million) 9.2.4.2.3. Germany Market, by Region, 2021 - 2030 (USD Million) 9.2.4.3. France 9.2.4.3.1. France Market, By Product Type, 2021 - 2030 (USD Million) 9.2.4.3.2. France Market, By Region, 2021 - 2030 (USD Million) 9.2.4.3.3. France Market, By End-User, 2021 - 2030 (USD Million) 9.2.4.4. Rest of Europe 9.2.4.4.1. Rest of Europe Market, By Product Type, 2021 - 2030 (USD Million) 9.2.4.4.2. Rest of Europe Market, By Region, 2021 - 2030 (USD Million) 9.2.4.4.3. Rest of Europe Market, By End-User, 2021 - 2030 (USD Million) 9.3. Asia Pacific 9.3.1. Asia Pacific Market, By Product Type, 2021 - 2030 (USD Million) 9.3.2. Asia Pacific Market, By End-User, 2021 - 2030 (USD Million) 9.3.5. Asia Pacific Market, by country, 2021 - 2030 (USD Million) 9.3.4.1. China 9.3.4.1.1. China Market, By Product Type, 2021 - 2030 (USD Million) 9.3.4.1.2. China Market, By Region, 2021 - 2030 (USD Million) 9.3.4.1.3. China Market, By End-User, 2021 - 2030 (USD Million) 9.3.4.2. India 9.3.4.2.1. India Market, By Product Type, 2021 - 2030 (USD Million) 9.3.4.2.2. India Market, By Region, 2021 - 2030 (USD Million) 9.3.4.2.3. India Market, By End-User, 2021 - 2030 (USD Million) 9.3.4.3. Japan 9.3.4.3.1. Japan Market, By Product Type, 2021 - 2030 (USD Million) 9.3.4.3.3. Japan Market, By End-User, 2021 - 2030 (USD Million) 9.3.4.4. South Korea 9.3.4.4.1. South Korea Market, By Product Type, 2021 - 2030 (USD Million) 9.3.4.4.3. South Korea Market, By End-User, 2021 - 2030 (USD Million) 9.3.4.5. Rest of ASIA PACIFIC 9.3.4.5.1. Rest of ASIA PACIFIC Market, By Product Type, 2021 - 2030 (USD Million) 9.3.4.5.3. Rest of ASIA PACIFIC Market, By End-User, 2021 - 2030 (USD Million) 9.4. Latin America 9.4.1. Latin America Market, By Product Type, 2021 - 2030 (USD Million) 9.4.3. Latin America Market, By End-User, 2021 - 2030 (USD Million) 9.4.4. Latin America Market, by country, 2021 - 2030 (USD Million) 9.4.4.1. Brazil 9.4.4.1.1. Brazil Market, By Product Type, 2021 - 2030 (USD Million) 9.4.4.1.3. Brazil Market, By End-User, 2021 - 2030 (USD Million) 9.4.4.2. Mexico 9.4.4.2.1. Mexico Market, By Product Type, 2021 - 2030 (USD Million) 9.4.4.2.3. Mexico Market, By End-User, 2021 - 2030 (USD Million) 9.4.4.3. Rest of the Latin America 9.4.4.3.1. Rest of the Latin American market, By Product Type, 2021 - 2030 (USD Million) 9.4.4.3.3. Rest of the Latin American market, By End-User, 2021 - 2030 (USD Million) 9.5. MEA 9.5.1. MEA Market, By Product Type, 2021 - 2030 (USD Million) 9.5.3. MEA Market, By End-User, 2021 - 2030 (USD Million) 10. Competitive Landscape 10.1 General Electric Company. 10.1.1. Company overview 10.1.2. Financial performance 10.1.3. Product Portfolio Analysis 10.1.4. Business Strategy & Recent Development 10.2. Alfa Laval AB 10.2.1. Company overview 10.2.2. Financial performance 10.2.3. Product Portfolio Analysis 10.2.4. Business Strategy & Recent Development 10.3. Kelvion Holding GmbH. 10.3.1. Company overview 10.3.2. Financial performance 10.3.3. Product Portfolio Analysis 10.3.4. Business Strategy & Recent Development 10.4. DANFOSS AS 10.4.1. Company overview 10.4.2. Financial performance 10.4.3. Product Portfolio Analysis 10.4.4. Business Strategy & Recent Development 10.5. Hisaka Works Ltd. 10.5.1. Company overview 10.5.2. Financial performance 10.5.3. Product Portfolio Analysis 10.5.4. Business Strategy & Recent Development 10.6. Exchanger Industries Limited. 10.6.1. Company overview 10.6.2. Financial performance 10.6.3. Product Portfolio Analysis 10.6.4. Business Strategy & Recent Development 10.7. Mersen 10.7.1. Company overview 10.7.2. Financial performance 10.7.3. Product Portfolio Analysis 10.7.4. Business Strategy & Recent Development 10.8. API Heat Transfer. 10.8.1. Company overview 10.8.2. Financial performance 10.8.3. Product Portfolio Analysis 10.8.4. Business Strategy & Recent Development 10.8. Boyd Corporation 10.8.1. Company overview 10.8.2. Financial performance 10.8.3. Product Portfolio Analysis 10.8.4. Business Strategy & Recent Development 10.9. XYLEM 10.9.1. Company overview 10.9.2. Financial performance 10.9.3. Product Portfolio Analysis 10.9.4. Business Strategy & Recent Development 10.10. Johnson Controls 10.10.1. Company overview 10.10.2. Financial performance 10.10.3. Product Portfolio Analysis 10.10.4. Business Strategy & Recent Development List of Tables (39 Tables) TABLE 1. Market, By Product Type, 2021-2030 (USD Million) TABLE 2. Market FOR Shell and Tube, BY REGION, 2021-2030 (USD Million) TABLE 3. Market FOR Microchannel Heat Exchanger, BY REGION, 2021-2030 (USD Million) TABLE 4. Market FOR Plate and Frame, BY REGION, 2021-2030 (USD Million) TABLE 5. Market FOR Air-Cooled, BY REGION, 2021-2030 (USD Million) TABLE 6. Market FOR Other types, BY REGION, 2021-2030 (USD Million) TABLE 7. Market, BY END-USER, 2021-2030 (USD Million) TABLE 8. Market FOR Chemical and Petrochemical, BY REGION, 2021-2030 (USD Million) TABLE 9. Market FOR HVAC and Refrigeration, BY REGION, 2021-2030 (USD Million) TABLE 10. Market FOR Power Generation, BY REGION, 2021-2030 (USD Million) TABLE 11. Market FOR Food and Beverage industry, BY REGION, 2021-2030 (USD Million) TABLE 12. Market FOR Oil and Gas, BY REGION, 2021-2030 (USD Million) TABLE 13. Market FOR Pulp & Paper, BY REGION, 2021-2030 (USD Million) TABLE 14. Market FOR Others, BY REGION, 2021-2030 (USD Million) TABLE 15. Market, BY REGION, 2021-2030 (USD Million) TABLE 16. NORTH AMERICA Market, BY COUNTRY, 2021-2030 (USD Million) TABLE 17. NORTH AMERICA Market, By End-Users, 2021-2030 (USD Million) TABLE 18. NORTH AMERICA Market, By Product Type, 2021-2030 (USD Million) TABLE 19. NORTH AMERICA Market, BY END-USER, 2021-2030 (USD Million) TABLE 20. EUROPE Market, BY COUNTRY, 2021-2030 (USD Million) TABLE 21. EUROPE Market, By Product Type, 2021-2030 (USD Million) TABLE 22. EUROPE Market, BY END-USER, 2021-2030 (USD Million) TABLE 23. ASIA-PACIFIC Market, BY COUNTRY, 2021-2030 (USD Million) TABLE 24. ASIA-PACIFIC Market, By Product Type, 2021-2030 (USD Million) TABLE 25. ASIA-PACIFIC Market, BY END-USER, 2021-2030 (USD Million) TABLE 26. LAMEA Market, BY COUNTRY, 2021-2030 (USD Million) TABLE 27. LAMEA Market, By Product Type, 2021-2030 (USD Million) TABLE 28. LAMEA Market, BY END-USER, 2021-2030 (USD Million) TABLE 29. General Electric Company: COMPANY SNAPSHOT TABLE 30. General Electric Company: OPERATING SEGMENTS TABLE 31. Alfa Laval AB: COMPANY SNAPSHOT TABLE 32. Alfa Laval AB: OPERATING SEGMENTS TABLE 33. Kelvion Holding GmbH: COMPANY SNAPSHOT TABLE 34. Kelvion Holding GmbH: OPERATING SEGMENTS TABLE 35. DANFOSS AS: COMPANY SNAPSHOT TABLE 36. DANFOSS AS: OPERATING SEGMENTS TABLE 37. Hisaka Works Ltd.: COMPANY SNAPSHOT TABLE 38. Hisaka Works Ltd.: OPERATING SEGMENTS TABLE 39. Exchanger Industries Limited: COMPANY SNAPSHOT TABLE 40. Exchanger Industries Limited: OPERATING SEGMENTS TABLE 41. Mersen: COMPANY SNAPSHOT TABLE 42. Mersen: OPERATING SEGMENTS TABLE 43. API Heat Transfer: COMPANY SNAPSHOT TABLE 44. API Heat Transfer: OPERATING SEGMENTS TABLE 45. Boyd Corporation: COMPANY SNAPSHOT TABLE 46. Boyd Corporation: OPERATING SEGMENTS TABLE 47. XYLEM: COMPANY SNAPSHOT TABLE 48. XYLEM: OPERATING SEGMENTS TABLE 49. Johnson Controls: COMPANY SNAPSHOT TABLE 50. Johnson Controls: OPERATING SEGMENTS List of Figures (20 Figures) Figure 1 Market: Research Methodology Steps Figure 2 Research Design Figure 3 Breakdown of Primaries: Market Figure 4 Research Methodology: Hypothesis Building Figure 5 Market: Product-Based Estimation Figure 6 Top 11 Companies with Highest No. Of Patent in Last 9 Years Figure 7 No. Of Patents Granted Per Year, 2019–2020 Figure 8 Import Data for Heat Exchanger, By Country, 2016–2020 (USD Thousand) Figure 9 Export Data for Heat Exchanger, By Country, 2016–2020 (USD Thousand) Figure 10 Data Triangulation Methodology Figure 11Market, By End-Users, 2019 vs. 2025 (USD Million) Figure 12Market Share, By Product Type, 2019 vs. 2025 Figure 13 Geographical Snapshot of the Market Figure 14 Shell and Tube to Witness Higher CAGR in the Market for Product Type Segment During the Forecast Period. Figure 15 Chemical and Petrochemical to Witness Higher CAGR in Market for End-User Segment during Forecast Period. Figure 16 North America Accounted for the Largest Share of the Market, By Regional Basis, in 2019 Figure 17Market: Drivers, Restraints, Opportunities, and Challenges Figure 18 North America: Market Snapshot Figure 19 Asia Pacific: Market Snapshot Figure 20 Vendor Dive: Evaluation Overview
1. Introduction
1.1. Study Objective
1.2. Market Definition
1.3. Study Scope
1.3.1. Markets Covered
1.3.2. Geographic Scope
1.3.3. Years Considered
1.3.4. Stakeholders
2. Research Methodology
2.1. Data Procurement
2.2. Paid Database
2.2.1. Secondary Data
2.2.1.1. Key Secondary sources
2.2.2. Primary Data
2.2.2.1 Primary sources
2.2.2.2. Key industry insights
2.2.2.3. Primary interviews with experts
2.2.2.4. Key primary respondent list
2.3. Market Size Estimation
2.4. Bottom-Up and Top-Down Approaches
2.4.1. Bottom-Up Approach
2.4.1.1. Approach for arriving at market size by bottom-up analysis
2.4.2. Top-Down Approach
2.4.2.1. Approach for Capturing Market Size by Top-Down Analysis
2.5. Market Breakdown and Data Triangulation
2.6. Research Methodology
2.7. Risk Assessment
3. Executive Summary
3.1 Heat Exchanger Market: Post-Covid-19
3.1.1 Actual Scenario
3.1.2 Pessimistic Scenario
3.1.3 Optimistic Scenario
3.1.4 Market Summary
4. Industry Outlook
4.1 Market Snapshot
4.2 Heat Exchanger Market
4.2.1 Market, 2021 - 2030 (USD Million)
4.3 Regional Business Analysis
4.3.1 Market, by region, 2021 - 2030 (USD Million)
4.4 Product Type Business Analysis
4.4.1 Market, By Product Type, 2021 - 2030 (USD Million)
4.5 End-User Business Analysis
4.5.1 Market, By End-User, 2021 - 2030 (USD Million)
4.6 Value Chain Analysis
4.7 Market Variable Analysis
4.7.1 Market Drivers Analysis
4.7.2 Market Restraints Analysis
4.8 Business Environment Analysis Tool
4.8.1 Market PEST analysis
4.8.2 Market Porter’s analysis
4.9 Penetration & Growth Prospect Mapping
5. Market Dynamics
5.1. Introduction
5.2. Market Dynamics
5.2.1. Drivers
5.2.2. Restraints
5.2.3. Opportunities
5.2.4. Challenges
5.3. Impact of Covid-19 On Market
5.4. Value Chain Analysis
5.5. Ecosystem
5.6. Patent Analysis
5.7. Trade Analysis
5.8. Tariff Analysis
5.9. Case Study Analysis
5.10. Porter’s Five Forces Analysis
5.10.1 Threat of New Entrants
5.10.2 Threat of Substitutes
5.10.3 Bargaining Power of Buyers
5.10.4 Bargaining Power of Suppliers
5.10.5 Degree of Competition
5.11. End-User Analysis
5.11.1. Trends in End-User (2014-2020)
5.11.2. Trends in End-User (2021-2028)
5.12. Pricing Analysis
5.12.1. Average Price Trend Analysis (By Region, By Country)
6. Competitive & Vendor Landscape
6.1. Company Market Share Analysis
6.2. Manufacturers Facial Implants Manufacturing Sites, Area Served, Product Type
6.3. Market Competitive Situation and Trends
6.4. Manufacturers Mergers & Acquisitions, Expansion Plans
7. Market: By Product Type Segment Analysis
7.1. Introduction
7.2. Sales Volume & Revenue Analysis (2021-2030)
7.3. Shell and Tube
7.3.1. Shell and Tube market, 2021 - 2030 (USD Million)
7.4. Microchannel Heat Exchanger
7.4.1. Microchannel Heat Exchanger market, 2021 - 2030 (USD Million)
7.5. Plate and Frame
7.5.1. Plate and Frame market, 2021 - 2030 (USD Million)
7.5.1. Brazed Plate & Frame Heat Exchanger market, 2021 - 2030 (USD Million)
7.5.1. Gasketed Plate & Frame Heat Exchanger market, 2021 - 2030 (USD Million)
7.5.1. Welded Plate & Frame Heat Exchanger market, 2021 - 2030 (USD Million)
7.6. Air-Cooled
7.6.1. Air-Cooled market, 2021 - 2030 (USD Million)
7.7. Other types
7.7.1. Other types of market, 2021 - 2030 (USD Million)
8. Market: By End-User Segment Analysis
8.1. Introduction
8.2. Sales Volume & Revenue Analysis (2021-2030)
8.3. Chemical and Petrochemical
8.3.1. Chemical and Petrochemical market, 2021 - 2030 (USD Million)
8.4. HVAC and Refrigeration
8.4.1. HVAC and Refrigeration market, 2021 - 2030 (USD Million)
8.5. Power Generation
8.5.1. Power Generation market, 2021 - 2030 (USD Million)
8.6. Food and Beverage industry
8.6.1. Food and Beverage industry market, 2021 - 2030 (USD Million)
8.7. Oil and Gas
8.7.1. Oil and Gas market, 2021 - 2030 (USD Million)
8.8. Pulp & Paper
8.8.1. Pulp & Paper market, 2021 - 2030 (USD Million)
8.9. Others
8.9.1. Others market, 2021 - 2030 (USD Million)
9. Market: Regional Outlook
9.1 North America
9.1.1. North America Market, By Product Type, 2021 - 2030 (USD Million)
9.1.4. North America Market, By End-User, 2021 - 2030 (USD Million)
9.1.5. North America Market, by Country, 2021 - 2030 (USD Million)
9.1.4.1. U.S.
9.1.4.1.1. U.S. Market, By Product Type, 2021 - 2030 (USD Million)
9.1.4.2. Canada
9.1.4.2.1. Canada Market, By Product Type, 2021 - 2030 (USD Million)
9.1.4.2.2. Canada Market, By Region, 2021 - 2030 (USD Million)
9.1.4.2.3. Canada Market, By End-Users, 2021 - 2030 (USD Million)
9.2. Europe
9.2.1. Europe Market, By Product Type, 2021 - 2030 (USD Million)
9.2.2. Europe Market, by By End-User, 2021 - 2030 (USD Million)
9.2.5. Europe Market, by country, 2021 - 2030 (USD Million)
9.2.4.1 U.K.
9.2.4.1.1. U.K. Market, By Product Type, 2021 - 2030 (USD Million)
9.2.4.1.2. U.K. Market, By End-Users, 2021 - 2030 (USD Million)
9.2.4.1.3. U.K. Market, by Region, 2021 - 2030 (USD Million)
9.2.4.2. Germany
9.2.4.2.1. Germany Market, By Product Type, 2021 - 2030 (USD Million)
9.2.4.2.2. Germany Market, By End-User, 2021 - 2030 (USD Million)
9.2.4.2.3. Germany Market, by Region, 2021 - 2030 (USD Million)
9.2.4.3. France
9.2.4.3.1. France Market, By Product Type, 2021 - 2030 (USD Million)
9.2.4.3.2. France Market, By Region, 2021 - 2030 (USD Million)
9.2.4.3.3. France Market, By End-User, 2021 - 2030 (USD Million)
9.2.4.4. Rest of Europe
9.2.4.4.1. Rest of Europe Market, By Product Type, 2021 - 2030 (USD Million)
9.2.4.4.2. Rest of Europe Market, By Region, 2021 - 2030 (USD Million)
9.2.4.4.3. Rest of Europe Market, By End-User, 2021 - 2030 (USD Million)
9.3. Asia Pacific
9.3.1. Asia Pacific Market, By Product Type, 2021 - 2030 (USD Million)
9.3.2. Asia Pacific Market, By End-User, 2021 - 2030 (USD Million)
9.3.5. Asia Pacific Market, by country, 2021 - 2030 (USD Million)
9.3.4.1. China
9.3.4.1.1. China Market, By Product Type, 2021 - 2030 (USD Million)
9.3.4.1.2. China Market, By Region, 2021 - 2030 (USD Million)
9.3.4.1.3. China Market, By End-User, 2021 - 2030 (USD Million)
9.3.4.2. India
9.3.4.2.1. India Market, By Product Type, 2021 - 2030 (USD Million)
9.3.4.2.2. India Market, By Region, 2021 - 2030 (USD Million)
9.3.4.2.3. India Market, By End-User, 2021 - 2030 (USD Million)
9.3.4.3. Japan
9.3.4.3.1. Japan Market, By Product Type, 2021 - 2030 (USD Million)
9.3.4.3.3. Japan Market, By End-User, 2021 - 2030 (USD Million)
9.3.4.4. South Korea
9.3.4.4.1. South Korea Market, By Product Type, 2021 - 2030 (USD Million)
9.3.4.4.3. South Korea Market, By End-User, 2021 - 2030 (USD Million)
9.3.4.5. Rest of ASIA PACIFIC
9.3.4.5.1. Rest of ASIA PACIFIC Market, By Product Type, 2021 - 2030 (USD Million)
9.3.4.5.3. Rest of ASIA PACIFIC Market, By End-User, 2021 - 2030 (USD Million)
9.4. Latin America
9.4.1. Latin America Market, By Product Type, 2021 - 2030 (USD Million)
9.4.3. Latin America Market, By End-User, 2021 - 2030 (USD Million)
9.4.4. Latin America Market, by country, 2021 - 2030 (USD Million)
9.4.4.1. Brazil
9.4.4.1.1. Brazil Market, By Product Type, 2021 - 2030 (USD Million)
9.4.4.1.3. Brazil Market, By End-User, 2021 - 2030 (USD Million)
9.4.4.2. Mexico
9.4.4.2.1. Mexico Market, By Product Type, 2021 - 2030 (USD Million)
9.4.4.2.3. Mexico Market, By End-User, 2021 - 2030 (USD Million)
9.4.4.3. Rest of the Latin America
9.4.4.3.1. Rest of the Latin American market, By Product Type, 2021 - 2030 (USD Million)
9.4.4.3.3. Rest of the Latin American market, By End-User, 2021 - 2030 (USD Million)
9.5. MEA
9.5.1. MEA Market, By Product Type, 2021 - 2030 (USD Million)
9.5.3. MEA Market, By End-User, 2021 - 2030 (USD Million)
10. Competitive Landscape
10.1 General Electric Company.
10.1.1. Company overview
10.1.2. Financial performance
10.1.3. Product Portfolio Analysis
10.1.4. Business Strategy & Recent Development
10.2. Alfa Laval AB
10.2.1. Company overview
10.2.2. Financial performance
10.2.3. Product Portfolio Analysis
10.2.4. Business Strategy & Recent Development
10.3. Kelvion Holding GmbH.
10.3.1. Company overview
10.3.2. Financial performance
10.3.3. Product Portfolio Analysis
10.3.4. Business Strategy & Recent Development
10.4. DANFOSS AS
10.4.1. Company overview
10.4.2. Financial performance
10.4.3. Product Portfolio Analysis
10.4.4. Business Strategy & Recent Development
10.5. Hisaka Works Ltd.
10.5.1. Company overview
10.5.2. Financial performance
10.5.3. Product Portfolio Analysis
10.5.4. Business Strategy & Recent Development
10.6. Exchanger Industries Limited.
10.6.1. Company overview
10.6.2. Financial performance
10.6.3. Product Portfolio Analysis
10.6.4. Business Strategy & Recent Development
10.7. Mersen
10.7.1. Company overview
10.7.2. Financial performance
10.7.3. Product Portfolio Analysis
10.7.4. Business Strategy & Recent Development
10.8. API Heat Transfer.
10.8.1. Company overview
10.8.2. Financial performance
10.8.3. Product Portfolio Analysis
10.8.4. Business Strategy & Recent Development
10.8. Boyd Corporation
10.9. XYLEM
10.9.1. Company overview
10.9.2. Financial performance
10.9.3. Product Portfolio Analysis
10.9.4. Business Strategy & Recent Development
10.10. Johnson Controls
10.10.1. Company overview
10.10.2. Financial performance
10.10.3. Product Portfolio Analysis
10.10.4. Business Strategy & Recent Development
List of Tables (39 Tables)
TABLE 1. Market, By Product Type, 2021-2030 (USD Million)
TABLE 2. Market FOR Shell and Tube, BY REGION, 2021-2030 (USD Million)
TABLE 3. Market FOR Microchannel Heat Exchanger, BY REGION, 2021-2030 (USD Million)
TABLE 4. Market FOR Plate and Frame, BY REGION, 2021-2030 (USD Million)
TABLE 5. Market FOR Air-Cooled, BY REGION, 2021-2030 (USD Million)
TABLE 6. Market FOR Other types, BY REGION, 2021-2030 (USD Million)
TABLE 7. Market, BY END-USER, 2021-2030 (USD Million)
TABLE 8. Market FOR Chemical and Petrochemical, BY REGION, 2021-2030 (USD Million)
TABLE 9. Market FOR HVAC and Refrigeration, BY REGION, 2021-2030 (USD Million)
TABLE 10. Market FOR Power Generation, BY REGION, 2021-2030 (USD Million)
TABLE 11. Market FOR Food and Beverage industry, BY REGION, 2021-2030 (USD Million)
TABLE 12. Market FOR Oil and Gas, BY REGION, 2021-2030 (USD Million)
TABLE 13. Market FOR Pulp & Paper, BY REGION, 2021-2030 (USD Million)
TABLE 14. Market FOR Others, BY REGION, 2021-2030 (USD Million)
TABLE 15. Market, BY REGION, 2021-2030 (USD Million)
TABLE 16. NORTH AMERICA Market, BY COUNTRY, 2021-2030 (USD Million)
TABLE 17. NORTH AMERICA Market, By End-Users, 2021-2030 (USD Million)
TABLE 18. NORTH AMERICA Market, By Product Type, 2021-2030 (USD Million)
TABLE 19. NORTH AMERICA Market, BY END-USER, 2021-2030 (USD Million)
TABLE 20. EUROPE Market, BY COUNTRY, 2021-2030 (USD Million)
TABLE 21. EUROPE Market, By Product Type, 2021-2030 (USD Million)
TABLE 22. EUROPE Market, BY END-USER, 2021-2030 (USD Million)
TABLE 23. ASIA-PACIFIC Market, BY COUNTRY, 2021-2030 (USD Million)
TABLE 24. ASIA-PACIFIC Market, By Product Type, 2021-2030 (USD Million)
TABLE 25. ASIA-PACIFIC Market, BY END-USER, 2021-2030 (USD Million)
TABLE 26. LAMEA Market, BY COUNTRY, 2021-2030 (USD Million)
TABLE 27. LAMEA Market, By Product Type, 2021-2030 (USD Million)
TABLE 28. LAMEA Market, BY END-USER, 2021-2030 (USD Million)
TABLE 29. General Electric Company: COMPANY SNAPSHOT
TABLE 30. General Electric Company: OPERATING SEGMENTS
TABLE 31. Alfa Laval AB: COMPANY SNAPSHOT
TABLE 32. Alfa Laval AB: OPERATING SEGMENTS
TABLE 33. Kelvion Holding GmbH: COMPANY SNAPSHOT
TABLE 34. Kelvion Holding GmbH: OPERATING SEGMENTS
TABLE 35. DANFOSS AS: COMPANY SNAPSHOT
TABLE 36. DANFOSS AS: OPERATING SEGMENTS
TABLE 37. Hisaka Works Ltd.: COMPANY SNAPSHOT
TABLE 38. Hisaka Works Ltd.: OPERATING SEGMENTS
TABLE 39. Exchanger Industries Limited: COMPANY SNAPSHOT
TABLE 40. Exchanger Industries Limited: OPERATING SEGMENTS
TABLE 41. Mersen: COMPANY SNAPSHOT
TABLE 42. Mersen: OPERATING SEGMENTS
TABLE 43. API Heat Transfer: COMPANY SNAPSHOT
TABLE 44. API Heat Transfer: OPERATING SEGMENTS
TABLE 45. Boyd Corporation: COMPANY SNAPSHOT
TABLE 46. Boyd Corporation: OPERATING SEGMENTS
TABLE 47. XYLEM: COMPANY SNAPSHOT
TABLE 48. XYLEM: OPERATING SEGMENTS
TABLE 49. Johnson Controls: COMPANY SNAPSHOT
TABLE 50. Johnson Controls: OPERATING SEGMENTS
List of Figures (20 Figures)
Figure 1 Market: Research Methodology Steps
Figure 2 Research Design
Figure 3 Breakdown of Primaries: Market
Figure 4 Research Methodology: Hypothesis Building
Figure 5 Market: Product-Based Estimation
Figure 6 Top 11 Companies with Highest No. Of Patent in Last 9 Years
Figure 7 No. Of Patents Granted Per Year, 2019–2020
Figure 8 Import Data for Heat Exchanger, By Country, 2016–2020 (USD Thousand)
Figure 9 Export Data for Heat Exchanger, By Country, 2016–2020 (USD Thousand)
Figure 10 Data Triangulation Methodology
Figure 11Market, By End-Users, 2019 vs. 2025 (USD Million)
Figure 12Market Share, By Product Type, 2019 vs. 2025
Figure 13 Geographical Snapshot of the Market
Figure 14 Shell and Tube to Witness Higher CAGR in the Market for Product Type Segment During the Forecast Period.
Figure 15 Chemical and Petrochemical to Witness Higher CAGR in Market for End-User Segment during Forecast Period.
Figure 16 North America Accounted for the Largest Share of the Market, By Regional Basis, in 2019
Figure 17Market: Drivers, Restraints, Opportunities, and Challenges
Figure 18 North America: Market Snapshot
Figure 19 Asia Pacific: Market Snapshot
Figure 20 Vendor Dive: Evaluation Overview