Heat Exchangers Market Growth and Forecast analysis by Region to 2025

on

15th October 2018: Global Heat Exchangers Market is expected to gain a significant CAGR growth in the forthcoming period. Heat exchanger is a device that is used as transference for thermal energy between two or multiple fluids or simply between two elements at different temperatures and in thermal contact. In heat exchangers, there is usually no external heat. There can be many ways a heat exchanger can be put to use. One of the typical uses of heat exchangers includes cooling of a fluid stream whereas in other applications the primary objective may be to crystallize, concentrate, distill or control a process fluid.

In many heat exchangers, fluids are segregated using a heat transfer surface and never mix or leak. Such exchangers are mainly referred to as recuperator’s or direct transfer type. Further, heat exchangers comprise heat transfer elements such as matrix for heat transfer surface, fluid distribution elements, nozzles or pipes, manifolds, tanks and inlets.
Driving factors responsible for the growth of heat exchangers industry includes stringent environmental regulations, growth in HVACR deployments and technological advancements. However, the saturated market growth in Europe and North America is likely to impact the overall global business of heat exchangers market.
Based on segmentation by type, the heat exchangers Industry is segmented into shell & tube, plate & frame and air cooled. Shell & tube segment accounts for major share in the forthcoming period owing to extensive use in chemical and petrochemical industries. Based on segmentation by application, the heat exchangers industry includes chemical, petrochemical and oil & gas, food & beverage, HVACR, power generation, paper & pulp. Chemical is the largest segment accounting for major share.
Geographically, heat exchangers market spans North America, Latin America, Europe, Asia-Pacific, Middle-East and Africa. Europe market witnesses a moderate CAGR growth owing to its market size and minimal economic activities. North America is also expected to gain a positive CAGR growth in the forthcoming period owing to high demand for heat exchangers as a replacement. The key players in the heat exchangers market include Alfa Laval AB, Kelvion Holdings Gmbh, Danfoss A/S, SPX Corporation, Xylem Inc., API Heat Transfer Inc., Gunter AG & Co. KG, and Hamon&Cie International SA.  

Comments

Post a Comment