[email protected] +44 20 8123 2220 (UK) +1 732 587 5005 (US) Contact Us | FAQ |

Heat Exchangers Market by Type, Material, Application, and Region - Global Forecast to 2024

February 2020 | 131 pages | ID: HE4D0FA6188EN
MarketsandMarkets

US$ 5,650.00

E-mail Delivery (PDF)

Download PDF Leaflet

Wire Transfer
Checkout Later
Need Help? Ask a Question
Heat Exchangers Market by Type (Shell & Tube, Plate & Frame, Air Cooled), Material (Steel, Non-Steel) Application (Chemical, Energy, HVACR, Food & Beverage, Power Generation, Pulp & Paper), and Region - Global Forecast to 2024

“The heat exchangers market is projected to grow at a CAGR of 6.0% during the forecast period.”

The heat exchangers market is estimated to be USD 15.3 billion in 2019 and is projected to reach USD 20.5 billion by 2024, at a CAGR of 6.0% between 2019 and 2024. Heat exchangers are environmentally-friendly, and they offer advantages, such as high operating efficiency and reduced energy consumption owing to which heat exchangers have high demand across a wide range of industries, including nuclear & thermal power plants, petroleum refineries, petrochemical plants, food processing plants, chemical, and HVACR.

“Energy segment is expected to be the fastest-growing end-use industry of the heat exchangers market during the forecast period.”

The energy industry segment is expected to grow at the highest CAGR between 2019 and 2024. The growth of this segment can be attributed to the expansion activities across upstream and downstream processing plants across the petrochemical and oil & gas sector. Growth in the exports of crude oil supported by the increased demand for fuel and petrochemical products is a major driving force for the heat exchangers market globally.

“APAC is projected to be the fastest-growing market for heat exchangers during the forecast period.“

APAC is projected to be the fastest-growing market for heat exchangers, in terms of value during the forecast period. China and India are two major markets for heat exchangers in Asia Pacific. The growth in the commercial building & construction industry, high-end real estate, and energy-saving policies are likely to drive the demand for heat exchangers in China and India.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.

The break-up of primary interviews is given below.
  • By Company Type: Tier 1 – 55%, Tier 2 – 27%, and Others – 18%
  • By Designation: C level –36%, Director level – 18%, and Others – 46%
  • By Region: North America – 20%, Europe – 20%, APAC – 37%, Middle East & Africa – 15%, and South America – 8%
Key companies profiled in this market research report are Alfa Laval (Sweden), Kelvion Holdings (Germany), Danfoss (Denmark), Xylem (US), API Heat Transfer (US), Gunter (Germany), Hindustan Dorr-Oliver (India), Chart Industries (US), Hisaka Works (Japan), Johnson Controls International (Ireland),.

Research Coverage

This report covers the heat exchangers market, in terms of value and forecasts its market size until 2024. The report includes the market segmentation based on type (shell & tube, plate & frame, air-cooled, and others), end-use industry (chemical, energy, HVACR, food & beverage, power generation, pulp & paper, and others), material (Steel and Non-Steel), and region (APAC, Europe, North America, and Middle East & Africa, and South America). The regions have been further segmented based on key countries into the US, Canada, Mexico, Germany, the UK, France, Russia, Italy, Sweden, Turkey, China, Japan, India, South Korea, Saudi Arabia, and Brazil. The report also provides company profiles and competitive strategies adopted by the key players in the global heat exchangers market.

Reasons to Buy the Report

The report is expected to help market leaders/new entrants in the following ways:
  1. This report segments the heat exchangers market and provides the closest approximations of the overall market size for its segments across different verticals and regions.
  2. This report is expected to help stakeholders understand the pulse of the market and provide information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.
  3. This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as new product launch, acquisition, and expansion.
1 INTRODUCTION

1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
  1.2.1 MARKET SCOPE
  1.2.2 REGIONS COVERED
  1.2.3 YEARS CONSIDERED IN THE REPORT
1.3 CURRENCY
1.4 STAKEHOLDERS

2 RESEARCH METHODOLOGY

2.1 RESEARCH DATA
  2.1.1 SECONDARY DATA
    2.1.1.1 Key data from secondary sources
  2.1.2 PRIMARY DATA
    2.1.2.1 Key data from primary sources
    2.1.2.2 Key industry insights
    2.1.2.3 Breakdown of primary interviews
2.2 MARKET SIZE ESTIMATION
  2.2.1 BOTTOM-UP APPROACH
  2.2.2 TOP-DOWN APPROACH
2.3 DATA TRIANGULATION
  2.3.1 HEAT EXCHANGERS MARKET ANALYSIS THROUGH PRIMARY INTERVIEWS
2.4 LIMITATIONS
2.5 ASSUMPTIONS

3 EXECUTIVE SUMMARY

4 PREMIUM INSIGHTS

4.1 ATTRACTIVE OPPORTUNITIES IN THE GLOBAL HEAT EXCHANGERS MARKET
4.2 HEAT EXCHANGERS MARKET IN APAC, 2018
4.3 HEAT EXCHANGERS MARKET, BY TYPE
4.4 HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY
4.5 HEAT EXCHANGERS MARKET GROWTH RATE, BY COUNTRY

5 MARKET OVERVIEW

5.1 INTRODUCTION
  5.1.1 DRIVERS
    5.1.1.1 Rapid industrial expansions in developing economies of APAC
    5.1.1.2 Stringent environmental regulations driving the demand for heat exchangers
    5.1.1.3 Rise in HVACR deployments and growth in construction activities
    5.1.1.4 Technological advancements in heat exchangers market
  5.1.2 RESTRAINTS
    5.1.2.1 Sluggish growth of heat exchangers market in Europe
    5.1.2.2 Lack of awareness about buildings’ energy efficiency
  5.1.3 OPPORTUNITIES
    5.1.3.1 Growing nuclear power generation
    5.1.3.2 Large aftermarket for heat exchangers
  5.1.4 CHALLENGES
    5.1.4.1 Regulations pertaining to fluorinated greenhouse gases
5.2 PORTER’S FIVE FORCES
  5.2.1 THREAT FROM NEW ENTRANTS
  5.2.2 THREAT OF SUBSTITUTES
  5.2.3 BARGAINING POWER OF BUYERS
  5.2.4 BARGAINING POWER OF SUPPLIERS
  5.2.5 INTENSITY OF RIVALRY
5.3 RAW MATERIAL ANALYSIS
  5.3.1 STEEL
    5.3.1.1 Steel segment to dominate heat exchangers market
  5.3.2 NON-STEEL
    5.3.2.1 Non-Steel segment to register fastest growth rate during forecast period

6 HEAT EXCHANGERS MARKET, BY TYPE

6.1 INTRODUCTION
6.2 SHELL & TUBE HEAT EXCHANGERS
  6.2.1 TUBULAR HEAT EXCHANGERS
    6.2.1.1 Tubular heat exchangers are more efficient than standard shell & tube heat exchangers
6.3 PLATE & FRAME HEAT EXCHANGERS
  6.3.1 GASKETED PLATE & FRAME HEAT EXCHANGERS
    6.3.1.1 Gasketed plate & frame heat exchangers have highest share in plate & frame heat exchangers segment
  6.3.2 WELDED PLATE & FRAME HEAT EXCHANGERS
    6.3.2.1 Welded plate & frame heat exchangers mostly used due to its compact size, modularity, and flexibility
  6.3.3 BRAZED HEAT EXCHANGERS
    6.3.3.1 Brazed heat exchangers have high demand in HVACR and power industry
6.4 AIR COOLED HEAT EXCHANGERS
  6.4.1 AIR COOLED HEAT EXCHANGERS PRIMARILY USED IN CHEMICAL AND ENERGY INDUSTRIES
6.5 OTHERS
  6.5.1 EXTENDED SURFACE HEAT EXCHANGERS
  6.5.2 REGENERATIVE HEAT EXCHANGERS

7 HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY

7.1 INTRODUCTION
7.2 CHEMICAL
  7.2.1 CHEMICAL INDUSTRY TO DOMINATE THE HEAT EXCHANGERS MARKET
  7.2.2 SPECIALTY CHEMICALS
    7.2.2.1 Growing demand for specialty chemicals in developing economies will positively impact heat exchangers market
7.3 ENERGY
  7.3.1 ENERGY SECTOR IS FASTEST-GROWING END USER OF HEAT EXCHANGERS
7.4 HVAC AND REFRIGERATION
  7.4.1 URBANIZATION DRIVING THE DEMAND FOR HEAT EXCHANGERS IN HVAC SEGMENT
7.5 FOOD & BEVERAGE
  7.5.1 GROWING CONSUMPTION OF PACKAGED AND PROCESSED FOOD PRODUCTS DRIVING THE DEMAND IN FOOD & BEVERAGE INDUSTRY
  7.5.2 SUGAR AND ETHANOL PRODUCTION
  7.5.3 OTHERS
7.6 POWER GENERATION
  7.6.1 EFFORTS TO INCREASE ENERGY OUTPUT OF POWER PLANTS TO DRIVE THE USAGE OF HEAT EXCHANGERS IN POWER INDUSTRY
7.7 PULP & PAPER
  7.7.1 HEAT EXCHANGERS USED IN PULP & PAPER INDUSTRY FOR WASTEWATER TREATMENT AND HEAT RECOVERY
7.8 OTHERS

8 HEAT EXCHANGERS MARKET, BY REGION

8.1 INTRODUCTION
8.2 NORTH AMERICA
  8.2.1 US
    8.2.1.1 US is largest and fastest-growing market for heat exchangers in North America
  8.2.2 CANADA
    8.2.2.1 Expansion of oil & gas industry expected to boost the demand for heat exchangers
  8.2.3 MEXICO
    8.2.3.1 Heat exchangers demand in Mexico to be majorly driven by expansion of energy sector
8.3 APAC
  8.3.1 CHINA
    8.3.1.1 China is second-largest market for heat exchangers, globally
  8.3.2 INDIA
    8.3.2.1 India expected to register the fastest growth during forecast period
  8.3.3 JAPAN
    8.3.3.1 Chemical and nuclear power industries to drive heat exchangers market in Japan
  8.3.4 SOUTH KOREA
    8.3.4.1 Plate & frame to lead the heat exchangers market in South Korea
  8.3.5 REST OF APAC
8.4 EUROPE
  8.4.1 GERMANY
    8.4.1.1 Germany to lead the heat exchangers market in Europe
  8.4.2 FRANCE
    8.4.2.1 Presence of strong chemical industry provides favorable growth prospect for heat exchangers
  8.4.3 ITALY
    8.4.3.1 Steady production of crude oil and growing construction industry is expected to drive the market
  8.4.4 UK
    8.4.4.1 Steady growth in construction industry to drive the demand for plate & frame heat exchangers
  8.4.5 SWEDEN
    8.4.5.1 Growing exports of chemical and petrochemical products to fuel consumption of heat exchangers in Sweden
  8.4.6 RUSSIA
    8.4.6.1 Expansion in oil & gas and construction industries to fuel the growth of heat exchangers market
  8.4.7 TURKEY
    8.4.7.1 Turkey to register the fastest growth rate during forecast period
  8.4.8 REST OF EUROPE
8.5 MIDDLE EAST & AFRICA
  8.5.1 SAUDI ARABIA
    8.5.1.1 Saudi Arabia dominates the heat exchangers market in Middle East & Africa
  8.5.2 REST OF MIDDLE EAST & AFRICA
8.6 SOUTH AMERICA
  8.6.1 BRAZIL
    8.6.1.1 Brazil is largest market for heat exchangers in South America
  8.6.2 REST OF SOUTH AMERICA

9 COMPETITIVE LANDSCAPE

9.1 OVERVIEW
9.2 COMPETITIVE LEADERSHIP MAPPING, 2018
  9.2.1 VISIONARY LEADERS
  9.2.2 INNOVATORS
  9.2.3 EMERGING COMPANIES
  9.2.4 STRENGTH OF PRODUCT PORTFOLIO
  9.2.5 BUSINESS STRATEGY EXCELLENCE
9.3 MARKET RANKING OF KEY PLAYERS, 2018
9.4 COMPETITIVE SCENARIO
  9.4.1 NEW PRODUCT LAUNCH
  9.4.2 EXPANSION
  9.4.3 ACQUISITION

10 COMPANY PROFILE

(Business Overview, Products Offered, Recent Developments, SWOT Analysis, Right to Win)*
10.1 ALFA LAVAL
10.2 KELVION HOLDINGS
10.3 DANFOSS
10.4 XYLEM
10.5 API HEAT TRANSFER
10.6 CHART INDUSTRIES, INC.
10.7 GUNTNER
10.8 HINDUSTAN DORR-OLIVER
10.9 HISAKA WORKS
10.10 JOHNSON CONTROLS INTERNATIONAL
10.11 OTHER COMPANIES
  10.11.1 HRS HEAT EXCHANGERS
  10.11.2 SIERRA
  10.11.3 SWEP INTERNATIONAL
  10.11.4 MERSEN
  10.11.5 THERMAX GLOBAL
  10.11.6 KOCH HEAT TRANSFER COMPANY
  10.11.7 BARRIQUAND TECHNOLOGIES
  10.11.8 FUNKE WARMEAUSTAUSCHER APPARATEBAU
  10.11.9 VAHTERUS
  10.11.10 RADIANT HEAT EXCHANGER
  10.11.11 SMART HEAT INCORPORATED
  10.11.12 DOOSAN CORPORATION
  10.11.13 AIR PRODUCTS AND CHEMICALS
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, Right to Win might not be captured in case of unlisted companies.

11 APPENDIX

11.1 DISCUSSION GUIDE
11.2 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
11.3 RELATED REPORTS
11.4 AUTHOR DETAILS

LIST OF TABLES

TABLE 1 HEAT EXCHANGERS MARKET SIZE, BY MATERIAL, 2017–2024 (USD MILLION)
TABLE 2 HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2024 (USD MILLION)
TABLE 3 HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017—2024 (USD MILLION)
TABLE 4 HEAT EXCHANGERS MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
TABLE 5 HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2024 (USD MILLION)
TABLE 6 HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2024 (USD MILLION)
TABLE 7 NORTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
TABLE 8 NORTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 9 NORTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 10 US: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 11 US: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 12 CANADA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 13 CANADA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 14 MEXICO: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 15 MEXICO: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 16 APAC: HEAT EXCHANGERS MARKET SIZE, BY COUNTRY, 2017–2024 (USD MILLION)
TABLE 17 APAC: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 18 APAC: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 19 CHINA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 20 CHINA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 21 INDIA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 22 INDIA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 23 JAPAN: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 24 JAPAN: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 25 SOUTH KOREA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 26 SOUTH KOREA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 27 REST OF APAC: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 28 REST OF APAC: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 29 EUROPE: HEAT EXCHANGERS MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
TABLE 30 EUROPE: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 31 EUROPE: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 32 GERMANY: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 33 GERMANY: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 34 FRANCE: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 35 FRANCE: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 36 ITALY: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 37 ITALY: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 38 UK: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 39 UK: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 40 SWEDEN: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 41 SWEDEN: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 42 RUSSIA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 43 RUSSIA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 44 TURKEY: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 45 TURKEY: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 46 REST OF EUROPE: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 47 REST OF EUROPE: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 48 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
TABLE 49 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 50 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 51 SAUDI ARABIA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 52 SAUDI ARABIA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 53 REST OF MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 54 REST OF MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 55 SOUTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
TABLE 56 SOUTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 57 SOUTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 58 BRAZIL: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024, (USD MILLION)
TABLE 59 BRAZIL: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024, (USD MILLION)
TABLE 60 REST OF SOUTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
TABLE 61 REST OF SOUTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
TABLE 62 NEW PRODUCT LAUNCH, 2015–2019
TABLE 63 EXPANSION, 2015–2019
TABLE 64 ACQUISITION 2015–2019

Heat Exchanger market research study provides detailed qualitative and quantitative analysis of the global Heat Exchanger Market. The market is further segmented and forecasted for major geographic regions, North America, Europe, Asia Pacific, and Rest of the World.

Some the prominent players in "Heat Exchangers Market" are:

  • Alfa Laval AB (Sweden)
  • GEA Group AG (Germany)
  • SPX Corporation (U.S.)
  • Xylem Inc. (U.S.)

Europe has always been a strong market for heat exchangers and globally, this market has been a leader for heat exchangers with respect to demand as well as production capacity. Heat exchanger consumption in the region is estimated to grow at a CAGR of around 4.81% from 2014 to 2019. This region has a relatively slow growth rate as a result of its dominant market size and slow economic activity as compared to the other regions. 

Currently, Europe acquires more than 30.0% of the total global market. The region has huge installed plant capacities of heat exchanger and is an export based heat exchanger market. Also, large number of emerging manufacturers from Eastern Europe is expected to reduce import dependence of various countries which is further expected to drive the heat exchanger market in future.

Asia-Pacific, being the fastest growing heat exchangers market globally, is estimated to grow at a CAGR of 10.70% for the next five years. Asia-Pacific is witnessing high industrial growth rate, which hints at an ever-increasing demand of heat exchangers for its diverse applications. 

China dominates the heat exchangers market in Asia-Pacific region, being a major consumer and the fastest growing country in terms of heat exchangers demand. Currently, a high share of heat exchanger is being consumed by the chemical industry and the demand of heat exchangers through chemical industry is projected to grow in the next five years at a CAGR of 14.32% from 2014 to 2019. After China, countries such as India, Japan and other Asian countries, are showing increasing growth in demand for heat exchangers. 



More Publications