Heat Exchanger Market Size, Share Global Analysis Report, 2020–2026

Industry Insights

[188+ Pages Report] According to the report published by Facts Factors, the global heat exchanger market size was worth around USD 15 billion in 2019 and is predicted to grow to around USD 20 billion by 2026 with a compound annual growth rate (CAGR) of roughly 6% between 2020 and 2026. The report analyzes the global heat exchanger market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the heat exchanger market.

This specialized and expertise oriented industry research report scrutinizes the technical and commercial business outlook of the heat exchanger industry. The report analyzes and declares the historical and current trends analysis of the heat exchanger industry and subsequently recommends the projected trends anticipated to be observed in the heat exchanger market during the upcoming years.

Key Insights from Primary Research

• According to the primary CXO’s of the global heat exchanger market, the market is estimated to witness a substantial growth of nearly 6% over the forecast period.
• The market was valued at USD 15 billion, in 2019 and is expected to be valued over USD 20 billion, by 2026
• By type segmentation, the shell & tube category is expected to contribute the largest market share in the global heat exchanger market owing to their managing property of fluids in the high pressure and temperature, the shell and tube are widely used in petrochemical, chemical, oil & gas, power generation and food & beverage industry.
• On the basis of end-use industry, the energy category headed the market in 2019, and it is anticipated to grow in the future years.
• By geography, in 2019, European region dominated the market and it is projected to witness highest market share attributed the huge installed heat exchanger plant capacities.

Key Recommendations from Analysts

• Our analysts recommend that the Asia Pacific will dominate heat exchanger over the forecast period owing to increasing industrilization.
• Owing to increasing R&D activities, North America is anticipated to boost market over the forecast period.
• Due to the wide use of heat exchanger for the extraction of crude oil, the oil and gas industry is anticipated to increase the demand for heat exchanger over the forecast period. 
• Increasing requirement of heat exchanger in the renewable energy industry may drive the market.
• The stainless steel category is expected to boost the heat exchanger market owing to its features such as thermal conductivity, lightweight, etc.
• Owing to the adoption of the advance technology, growth strategies by the major players, product development may create numerous opportunities in the market over the forecast period.

The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the heat exchanger industries are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the heat exchanger industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the heat exchanger market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the heat exchanger industry. The heat exchanger market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the heat exchanger sector. Key strategic developments in the heat exchanger market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the heat exchanger market are appropriately highlighted in the report.

The heat exchanger market research report delivers an acute valuation and taxonomy of the heat exchanger industry by practically splitting the market on the basis of different types, category and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.

Report Scope

The regional segmentation of the heat exchanger industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the heat exchanger industry is provided for the leading economies of the world.

To transfer heat between the fluids, a mechanism called a heat exchanger is used. These are commonly used in both heating and refrigeration methods. To avoid mixing, a solid wall separates the fluids. The heat exchanger is used in power plants, heating, natural gas refining, chemical plants, air conditioning, refrigeration, petrochemical plants, water treatment, and oil refineries.

The heat exchanger is commonly used for energy conservation and heat transfer. Various types of heat exchangers are used for industrial and domestic applications such as steam power plants, chemical processing plants, transportation power systems, building electricity, air conditioning systems and others. The heat exchanger market may be powered by the growing use of heat exchangers in the oil and gas industry. Strict government regulations and advanced technologies are driving the heat exchanger market. However, the disadvantages including pressure drops and leakage in the system may restraint the market growth. Conversely, growing R&D activities and economic growth may create ample opportunities in the market.

The heat exchanger market is segmented based on type, material, end-use industry, and region. On the basis of type segmentation, the market is classified into shell & tube, plate & frame, air cooled, others. By material segmentation, the market is divided into steel, and non-steel. And by end-use industry, the market is bifurcated into chemical, energy, hvacr, food & beverages, pulp & paper, power, others.

Some of the essential players operating in the heat exchanger market, but not restricted to include

• Hindustan Dorr-Oliver
• Danfoss
• Xylem
• API Heat Transfer
• Gunter
• Alfa Laval
• Kelvion Holdings
• Chart Industries
• Hisaka Works
• Johnson Controls International 

The taxonomy of the heat exchanger industry by its scope and segmentation is as follows:

By Type Segmentation Analysis

• Shell & Tube
• Plate & Frame
• Air Cooled
• Others

By Material Segmentation Analysis

• Steel
• Non-Steel

By End-Use Industry Segmentation Analysis

• Chemical
• Energy
• HVACR
• Food & Beverages
• Pulp & Paper
• Power
• Others

Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa