To know more about the CAGR and Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics
- Market Driver
- Market Challenges
The rising demand from the water and wastewater industry and growing demand from APAC-based countries are some of the key market drivers. Heat exchangers optimize the temperature of the water and increase the energy efficiency of a water treatment plant. Population growth, urbanization, and increasing per capita consumption of water are resulting in water scarcity because the quantity of water available is constant. This is likely to increase the demand for fresh water in the coming years. In addition, the technological advances in the design of heat exchangers is another factor supporting the heat exchanger market share growth. Several players in the market have invested in the potential use of geothermal resources and are operating in the field of geothermal energy conversion. This will drive the market positively during the forecast period.
However, factors such as fouling of heat exchangers will challenge market growth. Maintenance and cleaning of a heat exchanger are some of the major challenges that the operators face. The fouling of heat exchangers is the accumulation of unwanted deposits on the heat transfer surfaces. Serious maintenance and operating difficulties in a heat exchanger may result in an added cost of production for the operator unless the problem of fouling is recognized at the initial design stage and suitable steps are taken to contain it. Thus, the high costs associated with the maintenance of heat exchangers are expected to hinder the growth of the global heat exchanger market during the forecast period.
To learn about additional key drivers, trends, and challenges available with Technavio. Read our FREE Sample Report!
Key Market Segment Highlights
The heat exchanger market report is segmented by Product (shell and tube, plate and frame, cooling tower, air cooler, and others), End-user (chemical, fuel processing, HVAC, and others), and Geography (Europe, APAC, North America, South America, and MEA). The shell and tube product segment held the largest heat exchanger market share in 2020. The segment will continue to account for the largest market share during the forecast period mainly due to the rising demand from end-user industries including food processing, beverage processing, dairy processing, oil and gas, renewable power, biotechnology, district heating, marine refrigeration, pharmaceutical production, and others. APAC will be the leading region with 37% of the market's growth during the forecast period. China and Japan are the key markets for heat exchangers in APAC. Market growth in this region will be faster than the growth of the market in other regions. The growth of this region can be attributed to the expansion of end-user industries across the emerging economies of the region.
View our sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.
Some Companies Mentioned with their Offerings
- Alfa Laval AB
- Chart Industries Inc.
- Danfoss AS
- Doosan Heavy Industries and Construction Co. Ltd.
- Guntner GmbH and Co. KG.
- Johnson Controls International Plc
- Kelvion Holding GmbH
- SPX FLOW Inc.
- Thermax Ltd.
- Xylem Inc.
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
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Scraped Surface Heat Exchanger Market by Product, End-user, and Geography - Forecast and Analysis 2021-2025
Thermal Management Systems Market for Electronic Equipment Industry by Application and Geography - Forecast and Analysis 2020-2024
Heat Exchanger Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of about 3.66% |
Market growth 2021-2025 |
$ 3.30 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.16 |
Regional analysis |
Europe, APAC, North America, South America, and MEA |
Performing market contribution |
APAC at 37% |
Key consumer countries |
US, China, Germany, Russian Federation, and Japan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Alfa Laval AB, Chart Industries Inc., Danfoss AS, Doosan Heavy Industries and Construction Co. Ltd., Guntner GmbH and Co. KG., Johnson Controls International Plc, Kelvion Holding GmbH, SPX FLOW Inc., Thermax Ltd., and Xylem Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Content:
1. Executive Summary
2. Market Landscape
2.1 Market ecosystem
2.1.1 Parent market
Exhibit 01: Parent market
Exhibit 02: Market characteristics
2.2 Value chain analysis
Exhibit 03: Value Chain Analysis: Industrial machinery market
2.2.1 Inputs
2.2.2 Inbound logistics
2.2.3 Operations
2.2.4 Outbound logistics:
2.2.5 Marketing and sales:
2.2.6 Aftermarket and service
3. Market Sizing
3.1 Market definition
Exhibit 04: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 05: Market segments
3.3 Market size 2020
3.4 Market outlook: Forecast for 2020 - 2025
Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 08: Five forces analysis 2020 & 2025
4.2 Bargaining power of buyers
Exhibit 09: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 10: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 11: Threat of new entrants
4.5 Threat of substitutes
Exhibit 12: Threat of substitutes
4.6 Threat of rivalry
Exhibit 13: Threat of rivalry
4.7 Market condition
Exhibit 14: Market condition - Five forces 2020
5. Market Segmentation by Product
5.1 Market segments
Exhibit 15: Product - Market share 2020-2025 (%)
5.2 Comparison by Product
Exhibit 16: Comparison by Product
5.3 Shell and tube - Market size and forecast 2020-2025
Exhibit 17: Shell and tube - Market size and forecast 2020-2025 ($ million)
Exhibit 18: Shell and tube - Year-over-year growth 2020-2025 (%)
5.4 Plate and frame - Market size and forecast 2020-2025
Exhibit 19: Plate and frame - Market size and forecast 2020-2025 ($ million)
Exhibit 20: Plate and frame - Year-over-year growth 2020-2025 (%)
5.5 Cooling tower - Market size and forecast 2020-2025
Exhibit 21: Cooling tower - Market size and forecast 2020-2025 ($ million)
Exhibit 22: Cooling tower - Year-over-year growth 2020-2025 (%)
5.6 Air cooled - Market size and forecast 2020-2025
Exhibit 23: Air cooled - Market size and forecast 2020-2025 ($ million)
Exhibit 24: Air cooled - Year-over-year growth 2020-2025 (%)
5.7 Others - Market size and forecast 2020-2025
Exhibit 25: Others - Market size and forecast 2020-2025 ($ million)
Exhibit 26: Others - Year-over-year growth 2020-2025 (%)
5.5 Market opportunity by Type
Exhibit 27: Market opportunity by Type
6. Market Segmentation by End-user
6.1 Market segments
Exhibit 28: End-user - Market share 2020-2025 (%)
6.2 Comparison by End-user
Exhibit 29: Comparison by End-user
6.3 Chemical - Market size and forecast 2020-2025
Exhibit 30: Chemical - Market size and forecast 2020-2025 ($ million)
Exhibit 31: Chemical - Year-over-year growth 2020-2025 (%)
6.4 Fuel processing - Market size and forecast 2020-2025
Exhibit 32: Fuel processing - Market size and forecast 2020-2025 ($ million)
Exhibit 33: Fuel processing - Year-over-year growth 2020-2025 (%)
6.5 HVAC - Market size and forecast 2020-2025
Exhibit 34: HVAC - Market size and forecast 2020-2025 ($ million)
Exhibit 35: HVAC - Year-over-year growth 2020-2025 (%)
6.6 Others - Market size and forecast 2020-2025
Exhibit 36: Others - Market size and forecast 2020-2025 ($ million)
Exhibit 37: Others - Year-over-year growth 2020-2025 (%)
6.7 Market opportunity by End-user
Exhibit 38: Market opportunity by End-user
7. Customer landscape
Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
Exhibit 39: Customer landscape
8. Geographic Landscape
8.1 Geographic segmentation
Exhibit 40: Market share by geography 2020-2025 (%)
8.2 Geographic comparison
Exhibit 41: Geographic comparison
8.3 Europe - Market size and forecast 2020-2025
Exhibit 42: Europe - Market size and forecast 2020-2025 ($ million)
Exhibit 43: Europe - Year-over-year growth 2020-2025 (%)
8.4 APAC - Market size and forecast 2020-2025
Exhibit 44: APAC - Market size and forecast 2020-2025 ($ million)
Exhibit 45: APAC - Year-over-year growth 2020-2025 (%)
8.5 North America - Market size and forecast 2020-2025
Exhibit 46: North America - Market size and forecast 2020-2025 ($ million)
Exhibit 47: North America - Year-over-year growth 2020-2025 (%)
8.6 South America - Market size and forecast 2020-2025
Exhibit 48: South America - Market size and forecast 2020-2025 ($ million)
Exhibit 49: South America - Year-over-year growth 2020-2025 (%)
8.7 MEA - Market size and forecast 2020-2025
Exhibit 50: MEA - Market size and forecast 2020-2025 ($ million)
Exhibit 51: MEA - Year-over-year growth 2020-2025 (%)
8.8 Key leading countries
Exhibit 52: Key leading countries
8.9 Market opportunity by geography
Exhibit 53: Market opportunity by geography
9. Drivers, Challenges, and Trends
9.1 Market drivers
9.1.1 Rising demand from the water and wastewater industry
9.1.2 Growing demand from APAC-based countries
9.1.3 Increase in demand for lightweight and compact heat exchangers for automobiles
9.2 Market challenges
9.2.1 Fouling of heat exchangers
9.2.2 Volatility in crude oil prices
9.2.3 Rapid spread of COVID-19 resulting in the suspension of industrial activities
Exhibit 54: Impact of drivers and challenges
9.3 Market trends
9.3.1 Technological advances in the design of heat exchangers
9.3.2 Increase in the popularity of brazed copper heat exchangers for automotive vehicles
9.3.3 Growth in the nuclear power sector
10. Vendor Landscape
10.1 Overview
Exhibit 55: Vendor landscape
10.2 Landscape disruption
The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025.
Exhibit 56: ?Landscape disruption?
Exhibit 57: Industry risks
11. Vendor Analysis
11.1 Vendors covered
Exhibit 58: Vendors covered
11.2 Market positioning of vendors
Exhibit 59: Market positioning of vendors
11.3 Alfa Laval AB
Exhibit 60: Alfa Laval AB - Overview
Exhibit 61: Alfa Laval AB - Business segments
Exhibit 62: Alfa Laval AB - Key offerings
Exhibit 63: Alfa Laval AB - Segment focus
11.4 Chart Industries Inc.
Exhibit 64: Chart Industries Inc. - Overview
Exhibit 65: Chart Industries Inc. - Business segments
Exhibit 66: Chart Industries Inc.- Key news
Exhibit 67: Chart Industries Inc. - Key offerings
Exhibit 68: Chart Industries Inc. - Segment focus
11.5 Danfoss AS
Exhibit 69: Danfoss AS - Overview
Exhibit 70: Danfoss AS - Business segments
Exhibit 71: Danfoss AS- Key news
Exhibit 72: Danfoss AS - Key offerings
Exhibit 73: Danfoss AS - Segment focus
11.6 Doosan Heavy Industries and Construction Co. Ltd.
Exhibit 74: Doosan Heavy Industries and Construction Co. Ltd. - Overview
Exhibit 75: Doosan Heavy Industries and Construction Co. Ltd. - Business segments
Exhibit 76: Doosan Heavy Industries and Construction Co. Ltd. - Key offerings
Exhibit 77: Doosan Heavy Industries and Construction Co. Ltd. - Segment focus
11.7 Guntner GmbH and Co. KG.
Exhibit 78: Guntner GmbH and Co. KG. - Overview
Exhibit 79: Guntner GmbH and Co. KG. - Product and service
Exhibit 80: Guntner GmbH and Co. KG. - Key offerings
11.8 Johnson Controls International Plc
Exhibit 81: Johnson Controls International Plc - Overview
Exhibit 82: Johnson Controls International Plc - Business segments
Exhibit 83: Johnson Controls International Plc- Key news
Exhibit 84: Johnson Controls International Plc - Key offerings
Exhibit 85: Johnson Controls International Plc - Segment focus
11.9 Kelvion Holding GmbH
Exhibit 86: Kelvion Holding GmbH - Overview
Exhibit 87: Kelvion Holding GmbH - Product and service
Exhibit 88: Kelvion Holding GmbH- Key news
Exhibit 89: Kelvion Holding GmbH - Key offerings
11.10 SPX FLOW Inc.
Exhibit 90: SPX FLOW Inc. - Overview
Exhibit 91: SPX FLOW Inc. - Business segments
Exhibit 92: SPX FLOW Inc. - Key offerings
Exhibit 93: SPX FLOW Inc. - Segment focus
11.11 Thermax Ltd.
Exhibit 94: Thermax Ltd. - Overview
Exhibit 95: Thermax Ltd. - Business segments
Exhibit 96: Thermax Ltd. - Key offerings
Exhibit 97: Thermax Ltd. - Segment focus
11.12 Xylem Inc.
Exhibit 98: Xylem Inc. - Overview
Exhibit 99: Xylem Inc. - Business segments
Exhibit 100: Xylem Inc. - Key offerings
Exhibit 101: Xylem Inc. - Segment focus
12. Appendix
12.1 Scope of the report
12.1.1 Market definition
12.1.2 Objectives
12.1.3 Notes and caveats
12.2 Currency conversion rates for US$
Exhibit 102: Currency conversion rates for US$
12.3 Research Methodology
Exhibit 103: Research Methodology
Exhibit 104: Validation techniques employed for market sizing
Exhibit 105: Information sources
12.4 List of abbreviations
Exhibit 106: List of abbreviations
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