Heat Exchangers Market Growing at 8.2% CAGR Led by HVACR Applications to 2020
PUNE, India, April 7, 2016 /PRNewswire/ --
Increasing investments in chemical and HVACR industries will drive heat exchanger market size to hit $19.14 billion by 2021, at a CAGR of 8.2%, with rising demand from Asia-Pacific being a major growth driver.
Complete report on global heat exchangers market spread across 197 pages, profiling 15 companies and supported with 75 tables and 69 figures is now available at http://www.reportsnreports.com/reports/264884-heat-exchanger-market-by-types-shell-tube-plate-frame-air-cooled-by-applications-chemical-petrochemical-oil-gas-hvac-refrigeration-classifications-moc-temperature-range-fluid-types-geography-forecasts-to-2018.html .
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 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.
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.
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). Order a copy of Heat Exchangers Market by Type (Shell & Tube, Plate & Frame, Air Cooled), Application (Chemical, Petrochemical, Oil & Gas, HVACR, Food & Beverage, Pulp & Paper, Power Generation), Classifications (MoC, Temperature Range & Fluid Type) and Geography - Forecast to 2021 research report at http://www.reportsnreports.com/purchase.aspx?name=264884 .
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants among other experts to obtain & verify critical qualitative and quantitative information as well as assess future market prospects. In Tier 1 (33%), Tier 2 (60%) and Tier 3 (7%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (56%), Director Level (33%) and others (11%) from various key organizations operating in the global heat exchangers market. The primary interviews were conducted worldwide covering regions such as APAC (20%), Europe (46%), North America (27%) and RoW (7%)
On a related note, another research on Plate & Frame Heat Exchangers Market Trends & Forecast to 2020, says the plate & frame heat exchangers market size is estimated to grow USD 5.5 Billion by 2020 at a CAGR of 9.30% from 2015 to 2020. Europe is the biggest market for plate & frame heat exchangers. Asia-Pacific is the fastest growing plate & frame heat exchangers market. The research provides report with a comprehensive review of key market drivers, restraints, opportunities, winning imperatives, and key issues in the market. Companies like Alfa Laval AB, GEA Group, Danfoss A/S and SPX Corporation have been profiled in this 153 pages research report available at http://www.reportsnreports.com/reports/400863-plate-frame-heat-exchangers-market-by-type-brazed-gasketed-welded-by-application-chemical-petrochemical-oil-gas-hvacr-food-beverage-pulp-paper-power-generation-and-region-trends-forecast-to-2020.html .
Explore more reports on the Manufacturing & Construction market at http://www.reportsnreports.com/market-research/manufacturing/.
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