Heat Exchanger Tubes Market Scope
Heat exchanger tube enables to transfer heat from one fluid to another in a large pressure vessel. The heat exchanger consists of a series of tubes that allow two fluids to exchange heat where one fluid runs inside the tube whereas another fluid runs outside the tube to transfer heat between the two fluids through the tube walls. These tubes are widely used in space heating, air conditioning, power stations, chemical plants, petrochemical plants, petroleum refineries, sewage treatment, and natural gas processing applications. The increasing demand for heat exchanger tubes in chemical and power industries is expanding the growth of the heat exchanger tube. This is expected to drive the market in the upcoming years.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Industrial Heat Transfer (United States), Enerquip (United States), Alfa Laval (Sweden), Kelvion Holdings (Germany), Danfoss (Denmark), Gunter (Germany), Hindustan Dorr-Oliver (India), HRS Heat Exchangers (India), Manning and Lewis (United States), Hisaka Works (Indonesia), Vallourec Heat Exchanger Tubes Limited (India), Webco Industries, Inc. (United States) and Profins (United Kingdom) |
CAGR | 5.4% |
The global market is highly competitive and consists of a limited number of providers competing. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Research Analyst at AMA estimates that United States and Europe Manufacturers will contribute to the maximum growth of Global Heat Exchanger Tubes market throughout the predicted period.
Industrial Heat Transfer (United States), Enerquip (United States), Alfa Laval (Sweden), Kelvion Holdings (Germany), Danfoss (Denmark), Gunter (Germany), Hindustan Dorr-Oliver (India), HRS Heat Exchangers (India), Manning and Lewis (United States), Hisaka Works (Indonesia), Vallourec Heat Exchanger Tubes Limited (India), Webco Industries, Inc. (United States) and Profins (United Kingdom) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Heat Exchanger Tubes market by Type , by Application (Chemical Processing, Hydro Carbon Processing, Oil Refining, Nuclear Power Generation, Aerospace and Others) and Region with country level break-up.
On the basis of geography, the market of Heat Exchanger Tubes 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).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In November 2023, Mitsubishi Electric Corporation launched an aluminum vertical flat tube (VFT) design that improves heat exchanger performance by up to an unprecedented* about 40% in heat-pump** air conditioners used for heating and cooling.
On November 23, 2023, Alleima officially 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.
Influencing Trend:
Growing Demand in the Nuclear Power Industry
Market Growth Drivers:
Rising Demand for Heat Exchanger Tube in Wind Power Industry and Heat Exchangers Tube can Bear Very High Pressures
Challenges:
Maintenance and Repairing Costs and Corrosion and Erosion of Heat Exchanger Tubes
Restraints:
Lack of Knowledge about Energy Efficiency in Buildings
Opportunities:
Advancement in Technology and Increasing Demand for Heat Exchanger Tube in Heating, Ventilation, and Air Conditioning (HVAC) Deployments
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners and Providers, Heat Exchanger Tube Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors of Heat Exchanger Tube, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End User Industry