About Spiral Heat Exchanger
A spiral heat exchanger is defined as the device which is mainly used to transfer heat between two or more fluids. It is more compact as compared to other types of heat exchangers. It has mainly two concentric spiral channels namely cold fluid and hot fluid. Numerous advantages of a spiral heat exchanger are relatively low-pressure drop, compact size for a given heat exchange area, high overall heat transfer coefficient, among others. A rise in demand for heat exchangers due to the power requirement for commercial and non-commercial purposes are some of the major factors which affect the growth of the market in the future.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 10.4% |
The spiral heat exchangers market is highly fragmented in nature with a large number of international as well as regional players operating in the market. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Spiral Heat Exchanger market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Alstom SA (France), Areva SA (France), Bharat Heavy Electrical Limited (India), Dongfang Electric Corporation (China), Larsen and Toubro Ltd (India), Mitsubishi Heavy Industries Ltd (Japan), SPX Corporation (United States), BHI Company Limited (South Korea), Shanghai Electric Group Company (China) and Zio-Podolsk (Russia) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Spiral Heat Exchanger market by Type (Counter-current Flow, Spiral Flow/Cross Flow and Distributed Vapour/Spiral flow), Application (Power Plants, Refineries, Petrochemical Industries, Process Industries, Food and Drug Industries and Heating and Air Conditioning) and Region.
On the basis of geography, the market of Spiral Heat Exchanger has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Material , the sub-segment i.e. Aluminum will boost the Spiral Heat Exchanger market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Power Source, the sub-segment i.e. Gas will boost the Spiral Heat Exchanger market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancements in the Spiral Heat Exchangers Market For instance, in 2017, Kelvion Holding GmbH Company has developed AirToAir heat exchangers for the heat recovery as well as efficient use of energy.
Market Growth Drivers:
Rapid Industrial Expansions in the Developing Markets of APAC and Stringent Environmental Regulations and Increase in HVACR Deployments and Growth in Industrial Activities
Challenges:
Problems regarding Fluorinated Greenhouse Gas Regulations
Restraints:
Slow Growth of the Market in North America, Europe, and others and Lack of Awareness about Energy Efficiency in Buildings
Opportunities:
Growing Demand for Nuclear Power Generation and Large Aftermarket for Heat Exchangers and Mounting Demand from Emerging Economics such as China, India, among others
Market Leaders and their expansionary development strategies
In July 2020, the Godrej & Boyce Company has acquired two brands of heat exchangers, namely Yuba and Ecolaire, from SPX Corporation in order to become the leader in the heat exchangers business. Therefore, this acquisition will help in strengthening the position of the company in the future.
In march 2023, Alfa Laval launched AlfaNova GL50, the first heat exchanger developed specifically for fuel cell systems. Fuel cells will play an important role in the global transition to green energy. By unleashing the energy stored in hydrogen and derivatives such as ammonia, methanol, and methane, fuel cells can accelerate the decarbonization of hard-to-abate sectors like shipping and heavy industry.
Key Target Audience
Manufacturers of Heat Exchangers, Traders, Distributors, and Suppliers of Heat Exchangers, Regional Manufacturer Associations and General Heat Exchanger Associations Government & Regional Agencies and Research Organizations and Investment Research Firms
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.