Global Heat Exchangers Market to 2028: Players Include Alfa Laval, Kelvion Holding, Exchanger Industries and Danfoss

DUBLIN, June 9, 2023 /PRNewswire/ -- The "Heat Exchangers Market by Type (Shell & Tube, Plate & Frame, Air Cooled), Application (Chemical, Energy, HVACR, Food & Beverage, Power, Paper & Pulp), Material (Metals, Alloys and Brazing Clad), and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global heat exchanger market size is projected to reach USD 29.0 billion by 2028 from USD 20.5 billion in 2023, at a CAGR of 7.1% during the forecast period.

The ever-increasing demand for heat exchangers in emerging markets owing to rising awareness towards energy efficient solutions and stringent government regulations on greenhouse gas and CO2 emissions.

Additionally, the demand for heat exchangers in emerging countries such as Asia Pacific, South America, and Middle East & Africa, is increasing due to the rising industrialisation and rapid urbanization that increases the demand for HVACR equipment for the commercial construction industry. This will drive the heat exchanger market during the forecast period.

Energy segment is estimated to be the fastest growing in terms of value amongst other types in the heat exchanger market, in 2028.

The energy segment which includes the petrochemical and Oil & gas industry is expected to register the fastest CAGR during the forecast period globally.

The increasing focus on energy efficiency, sustainability, and environmental regulations has triggered the demand for heat exchangers in the energy segment. Also, the shift towards sustainable and eco-friendly practices is driving the development of bio-based and renewable petrochemical endues industry which will increase the demand for heat exchangers in the energy segment.

Alloys is the second largest in the heat exchanger market, by material in 2022.

Alloys provide excellent corrosion resistance, which is crucial in heat exchanger applications where fluids with varying chemical compositions and temperatures are involved.

Corrosion-resistant alloys, such as nickel-based alloys, ensure longevity and reliability of heat exchanger equipment, reducing maintenance requirements and downtime. Heat exchangers require materials that can efficiently conduct heat to maximize heat exchange efficiency, and certain alloy compositions provide excellent thermal conductivity, enabling optimal performance.

Europe is the largest in the heat exchanger market in 2022.

Europe is the largest region amongst others in the heat exchanger market in 2022, in terms of value, Germany, France, Italy, Russia, Turkey, and the UK are the key countries driving the Europe heat exchanger market.

This region has a highly developed industrial sector with a significant demand for heat exchangers across various industries, including power generation, oil and gas, chemical processing, HVAC (heating, ventilation, and air conditioning), and automotive manufacturing. Europe has a strong focus on energy efficiency and sustainability, driving the demand for heat exchangers that can optimize energy usage and reduce environmental impact.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Emerging Economies to Witness a Relatively Higher Demand for Heat Exchangers
4.2 Asia-Pacific: Heat Exchangers Market, by End-use Industry and Country
4.3 Heat Exchangers Market, by Type
4.4 Heat Exchangers Market, by Material
4.5 Heat Exchangers Market, by End-use Industry
4.6 Heat Exchangers Market, by Country

5 Market Overview
5.1 Introduction
5.2 Impact of Recession
5.3 Market Dynamics
5.3.1 Drivers
5.3.2 Restraints
5.3.3 Opportunities
5.3.4 Challenges
5.4 Porter's Five Forces Analysis
5.4.1 Threat of Substitutes
5.4.2 Bargaining Power of Suppliers
5.4.3 Threat of New Entrants
5.4.4 Bargaining Power of Buyers
5.4.5 Intensity of Competitive Rivalry
5.5 Value Chain Analysis
5.6 Macroeconomic Indicators
5.7 Tariff Policies & Regulations
5.8 Case Study Analysis
5.9 Technology Analysis
5.10 Ecosystem Mapping
5.11 Trade Analysis
5.12 Key Conferences & Events in 2023-2024
5.13 Key Factors Affecting Buying Decision
5.13.1 Quality
5.13.2 Service
5.14 Patent Analysis

6 Heat Exchangers Market, by Material
6.1 Introduction
6.2 Metals
6.2.1 Steel
6.2.1.1 Carbon Steel
6.2.1.2 Stainless Steel
6.2.2 Copper
6.2.3 Aluminum
6.2.4 Titanium
6.2.5 Nickel
6.2.6 Others
6.3 Alloys
6.3.1 Nickel Alloy
6.3.1.1 Hastelloy
6.3.1.2 Inconel
6.3.1.3 Monel
6.3.1.4 Others
6.3.2 Copper Alloys
6.3.3 Titanium Alloys
6.3.4 Other Alloys
6.4 Brazing Clad Materials
6.4.1 Copper Brazing
6.4.2 Ni Clad Brazing
6.4.3 Phosphor Copper Brazing
6.4.4 Silver Brazing
6.4.5 Others

7 Heat Exchangers Market, by Type
7.1 Introduction
7.2 Shell & Tube Heat Exchangers
7.3 Plate & Frame Heat Exchangers
7.4 Air Cooled Heat Exchangers
7.5 Others
7.5.1 Extended Surface Heat Exchangers
7.5.2 Regenerative Heat Exchangers

8 Heat Exchangers Market, by End-use Industry
8.1 Introduction
8.2 Chemical
8.3 Energy
8.4 HVAC and Refrigeration
8.5 Food & Beverage
8.6 Power Generation
8.7 Pulp & Paper
8.8 Others
8.8.1 Metallurgical
8.8.2 Wastewater Treatment
8.8.3 Mining

9 Heat Exchangers Market, by Region

10 Competitive Landscape
10.1 Overview
10.2 Strategies Adopted by Key Players
10.3 Market Evaluation Framework
10.4 Company Revenue Analysis
10.5 Market Share/Ranking of Key Players
10.6 Company Evaluation Matrix
10.6.1 Stars
10.6.2 Pervasive Players
10.6.3 Emerging Leaders
10.6.4 Participants
10.7 Strength of Product Portfolio for Tier 1 Companies
10.8 Business Strategy Excellence for Tier 1 Companies
10.9 Company Evaluation Matrix (Start-Ups and SMEs)
10.9.1 Progressive Companies
10.9.2 Responsive Companies
10.9.3 Starting Blocks
10.9.4 Dynamic Companies
10.10 Strength of Product Portfolio (Start-Ups and SMEs)
10.11 Business Strategy Excellence (Start-Ups and SMEs)
10.12 Competitive Benchmarking
10.13 Competitive Situation and Trends
10.13.1 New Product Launches/Development
10.13.2 Deals
10.13.3 Jvs/Technlologial Collaborations

11 Company Profiles
11.1 Key Players
11.1.1 Alfa Laval
11.1.2 Kelvion Holding GmbH
11.1.3 Exchanger Industries Limited
11.1.4 Mersen
11.1.5 Danfoss
11.1.6 API Heat Transfer
11.1.7 Boyd Corporation
11.1.8 H. Guntner (Uk) Limited
11.1.9 Johnson Controls
11.1.10 Xylem
11.1.11 Wabtec Corporation
11.1.12 Spx Flow
11.1.13 Lu-Ve S.P.A.
11.1.14 Lennox International Inc.
11.2 Other Players
11.2.1 Air Products Inc.
11.2.2 Barriquand Technologies Thermiques
11.2.3 Brask, Inc.
11.2.4 Chart Industries
11.2.5 Doosan Corporation
11.2.6 Funke Heat Exchanger Apparatebau GmbH
11.2.7 Hisaka Works, Ltd.
11.2.8 Hindustan Dorr-Oliver Ltd.
11.2.9 Koch Heat Transfer Company
11.2.10 Radiant Heat Exchanger Pvt. Ltd. Pune India
11.2.11 Swep International Ab
11.2.12 Smartheat
11.2.13 Sierra S.P.A.
11.2.14 Thermax Limited
11.2.15 Vahterus Oy

12 Appendix

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