(MENAFN- GlobeNewsWire - Nasdaq) Detroit, Jan. 30, 2025 (GLOBE NEWSWIRE) -- The global heat exchangers market is projected to witness a growth rate of 5.1% annually from 2024 to 2030, with an anticipated size of US$ 21.8 billion by 2030, according to an analysis by Stratview Research.
Stratview Research, a global market research firm has launched a report on the global heat exchangers market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
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Report Highlights
| Market Size in 2030 (billion US$) | 21.8 |
| Growth (CAGR) | 5.1% during 2024-2030 |
| Forecast Period | 2024-2030 |
| Trend Period | 2018-2022 |
| Base Year | 2023 |
| Number of Segments Covered | 3 |
| Number of Tables & Graphs | 100+ |
| Country-Level Market Assessment | 20 |
Segment Insights on the Heat Exchangers Market:
The global heat exchangers market is segmented based on product type, end-use industry type, and region.
Based on product type - The heat exchangers market is segmented into shell & tube heat exchangers, plate heat exchangers (gasket plate heat exchangers, all-welded plate heat exchangers, and brazed plate heat exchangers), air-cooled heat exchangers, and others. The plate heat exchanger is expected to remain the largest as well as the fastest-growing segment during the forecast period , owing to its advantages, such as high heat transfer coefficient, good efficiency due to turbulent flow on both sides, and ease of maintenance, repair, and service.
Shell & Tube heat exchanger is expected to remain the second-largest segment of the market during the forecast period . The ability to withstand high-temperature applications and protection against fouling is helping the market to grow. The major advantages of shell & tube heat exchangers are their simple design, robust characteristics, good resistance to thermal shock, and low purchase and maintenance costs.
Based on end-use industry type - The market is segmented as oil & gas, petrochemical & chemical, food & beverages, power generation, HVAC & refrigeration, water & wastewater, pharmaceuticals, marine & shipbuilding, and others. Petrochemical & Chemical is expected to remain the largest as well as the fastest-growing segment during the forecast period . The petrochemical and chemical industry involves various processes with high pressure and temperature, which require optimizing heat transfer and the enhancement of energy savings, which, in turn, is likely to drive the demand for heat exchangers.
Power generation is projected to be the second-dominant segment of the market during the forecast period due to the increasing demand for renewable energy, which is fueling a surge in the power generation industry. The heat exchanger is used as a condenser, condensate sub-cooling, feed water pre-heating, and heat extraction, and it is also used for cooling wet storage in nuclear power plants.
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific is expected to remain the largest and fastest-growing region in the global market during the forecast period. This growth outlook is majorly attributed to the following:
Increasing disposable income. Rapid urbanization and industrialization. Increasing energy demand in developing economies (China, India, and Japan).
Likewise, Europe and North America are also likely to create sizeable opportunities in the coming five years.
Heat Exchangers Market Drivers:
Some of the key drivers listed in the report are given below.
Increasing energy demand in developing economies. Growing investments in different industries, such as refineries, power generation units, food manufacturing industries, and district heating and cooling systems. Rapid urbanization and industrialization.
Top Companies in the Heat Exchangers Market:
The market is highly populated with the presence of a large number of local, regional, and global players. Most of the major players compete in some of the governing factors, including price, product offerings, regional presence, etc. Stratview Research has identified the following companies as the top market players:
Alfa Laval AB Johnson Controls Kelvion Holding GmbH Linde PLC SPX Corporation SWEP International AB
What Deliverables Will You Get in this Report?
| Key questions this report answers | Relevant contents in the report |
| How big is the sales opportunity? | In-depth analysis of the Heat Exchangers Market |
| How lucrative is the future? | Market forecast and trend data and emerging trends |
| Which regions offer the best sales opportunities? | Global, regional, and country-level historical data and forecasts |
| Which are the most attractive market segments? | Market segment analysis and forecast |
| Who are the top players and their market positioning? | Competitive landscape analysis, Market share analysis |
| How complex is the business environment? | Porter's five forces analysis, PEST analysis, Life cycle analysis |
| What are the factors affecting the market? | Drivers & challenges |
| Will I get the information on my specific requirements? | 10% free customization |
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - ...
Related Reports:
Plate Heat Exchangers Market Shell & Tube Heat Exchangers Market
About us:
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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