About Heat Exchangers
Heat exchangers are the system that transfers heat from one medium to another a Hydraulic Oil Cooler, for instance, will remove heat from hot oil by using cold water or air. Alternatively, a swimming pool heat exchanger uses hot water from a boiler or solar-heated water circuit to heat the pool water. Heat is transferred by conduction through the exchanger materials which separate the mediums being used. A shell and tube heat exchanger passes fluids through and over tubes, whereas an air-cooled heat exchanger passes cool air through a core of fins to cool a liquid.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Heat Exchangers market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand Heat Exchangers Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Heat Exchangers 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.
Kelvion Holding GmbH (Germany), Alfa Laval AB (Sweden), Danfoss Group (Denmark), Geurts International B.V. (Netherlands), Heatex (Sweden), SPX Corporation (United States), Xylem Inc. (United States), API Heat Transfer Inc. (United States), Güntner GmbH & Co. KG (Germany) and Hindustan Dorr-Oliver Ltd (India) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Hamon Group (Belgium) and Hisaka Works Ltd (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Heat Exchangers market by Type (Shell & Tube, Plate & Frame, Air Cooled and Others), Application (Space Heating, Refrigeration, Power Generation, Sewage Treatment, Chemical Plants and Others) and Region.
On the basis of geography, the market of Heat Exchangers 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 Construction Method, the sub-segment i.e. Recuperative will boost the Heat Exchangers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Hydraulics Industry will boost the Heat Exchangers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Use of Heat Exchangers in Food Processing Industry and Continuous Research and Development in Heat Exchangers
Market Growth Drivers:
Need for Maintaining Safe Operating Temperature in Industrial Operations and Increasing Demand for Efficient Transfer of Steam or Heat for Better Operation
Challenges:
Complexities Involved with Installation of Heat Exchangers
Restraints:
Risk of Safety Associated with Heat Exchangers and Negative Effects of Heat Exchangers on Environment
Opportunities:
Technological Advancement in Power and Energy Generation will Boost the Heat Exchanger Market
Market Leaders and their expansionary development strategies
In December 2019, Alfa Laval which is a leading heat transfer, centrifugal separation and fluid handling company announced its signed agreement to acquire certain technologies and activities with the sale of SEK 14v million LTM June 2018, from Airec which is a Sweden based innovation company of heat exchangers. and The new company will be integrated into the Brazed & Fusion Bonded Heat Exchangers unit of the Energy Division. The acquired technology – in combination with Alfa Laval's existing heat transfer know-how, manufacturing footprint and global market presence – represents untapped opportunities. The closing is expected early January 2019.
In December 2023, Alleima has launched its state-of-the-art heat exchanger facility in its mill located in Mehsana, Gujarat. This new facility will enable Alleima to produce advanced alloys in heat exchanger tubing locally to meet the increasing demand for the high valued added tubes to India’s chemical and petrochemical, renewable, and other industrial segments.
Key Target Audience
Heat Exchangers Manufacturers, Heat Exchangers International Traders, Heat Exchangers Distributors and Suppliers, Research and Development Institutes, Potential Investors, Industry Association, Regulatory Bodies and Others
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.