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Market Overview:
According to the latest report by IMARC Group, titled“ Heat Exchanger Market Size : Global Industry Trends, Share, Growth, Opportunity and Forecast 2022-2027 ”, the global heat exchanger market reached a value of US$ 16.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 23.4 Billion by 2027, exhibiting at a CAGR of 6% during 2022-2027. A heat exchanger refers to a device that is designed to transfer heat from one fluid to another and control the temperature of a system. These devices use less energy and emit less pollution in comparison to the conventional methods of cooling. As a result, they find extensive application in air conditioning systems, sewage treatment, furnaces, boilers, and automotive radiators.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Heat Exchanger Market Trends:
The global market is majorly driven by the increasing environmental concerns among consumers regarding the use of energy-efficient devices. Furthermore, the widespread adoption of heat, ventilation, and air-conditioning (HVAC) across commercial, industrial, and residential sectors represents another key factor driving the market growth. Moreover, the rising investment by the key market players in research and development (R&D) activities to manufacture an efficient heat exchanger has created a positive outlook for the market. Additionally, regulations imposed by the government of several countries to reduce the emission of carbon have positively influenced the market growth across the globe. Other factors, including inflating disposable income levels, rising population, rapid urbanization, and extreme average climatic conditions have provided an impetus to market growth across the globe.
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Competitive Landscape:
By IMARC group the global heat exchanger market report has also analyzed the competitive landscape of the market with some of the top heat exchanger manufacturers being
Some of these key players include:
- Alfa Laval
- API Heat Transfer Inc.
- Danfoss
- General Electric Company
- Hisaka Works
- IHI Corporation
- Johnson Controls
- Kelvion Holding GmbH
- Koch Industries
- Lytron Inc.
- Mersen
- Modine Manufacturing
- Royal Hydraulics
- Sondex A/S
- Xylem Inc
Key Market Segmentation:
Breakup by Type:
- Shell & Tube
- Plate & Frame
- Air Cooled
- Others
Breakup by Material:
- Carbon Steel
- Stainless Steel
- Nickel
- Others
Breakup by End-Use Industry:
- Chemical
- Petrochemical and Oil & Gas
- HVAC and Refrigeration
- Food & Beverage
- Power Generation
- Paper & Pulp
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter's Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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