LONDON, Oct. 17, 2016 /PRNewswire/ -- "Increasing investments in chemical and HVACR industries drive the heat exchanger market"
The market size of heat exchangers is estimated to reach USD 19.14 billion by 2021, at a CAGR of 8.2%. Heat exchangers offer various advantages, such as high operating efficiency, reduced energy consumption, and keeping pace with the green trends. The heat exchanger market is spread across a wide range of end-use industries, including nuclear & thermal power plants, petroleum refineries, petrochemical plants, food processing plants, and HVACR. Therefore, the market is set to grow with the growth in other related industries in the upcoming years.
"HVACR is one of the fastest-growing applications of heat exchanger"
HVACR application is estimated to register the highest CAGR between 2015 and 2021. The high growth is attributed to the growing building & construction industry and increased government investments in infrastructure projects resulting in installation of HVACR systems. In 2015, the HVACR segment accounted for the third largest market share among all applications, in terms of value, followed by food & beverage, power generation, and paper & pulp.
"Rising demand from Asia-Pacific is a major driver of the heat exchanger market"
Asia-Pacific is the fastest growing market for heat exchangers in terms of value in the forecast period. China and India are the two major markets of heat exchangers in Asia-Pacific. The Chinese chemical industry has the largest share in Asia-Pacific resulting in an increased growth of the market. Also, a high growth in the commercial building & construction industry, high-end real estate, and energy-saving policies are likely to drive the demand for heat exchangers in both China and India.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The break-up of primary interviews is given below.
- By Company Type: Tier 1 – 33%, Tier 2 – 60%, and Others – 7%
- By Designation: C level – 56%, Director level – 33%, and Others –- 11%
- By Region: North America – 27%, Europe – 46%, Asia-Pacific – 20%, and RoW* – 7%
*RoW includes Latin America, The Middle East, and Africa.
The key companies profiled in this market research report are Alfa Laval AB (Sweden), Kelvion Holdings Gmbh (Germany), Danfoss A/S (Denmark), SPX Corporation (U.S.), Xylem Inc. (U.S.), API Heat Transfer Inc. (U.S), Gunter AG & Co. KG (Germany), Hamon & Cie International SA (Belgium), Hindustan Dorr-Oliver Limited (India), Hisaka Works Limited (Japan), HRS Heat Exchangers (India), Modine Manufacturing Company (U.S.), Sierra S.p.A (Italy), Sondex Holdings A/S (Denmark), and SWEP International AB (Denmark).
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the heat exchanger market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
2. The report helps the stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders understand the competitors and gain more insights to improve their position in the business. The competitive landscape section includes new product developments, expansions, agreements & contracts partnerships, acquisitions, and joint ventures.
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