Top 5 Companies Leading the Global Heat Exchanger Market

The global heat exchanger market reached a value of USD 17.71 billion in 2024 and further expected to grow at a CAGR of 3.4% in the forecast period of 2025-2034 to attain a value of USD 23.88 billion in 2034. As per the analysis by Expert Market Research, the market is expected to be driven by the rising demand for heat, ventilation, and air-conditioning (HVAC) from industrial, commercial, and residential sectors.

The constant change of living standards and climatic conditions around the world are improving the growth of this market. The increasing awareness among people about the environment is also boosting the growth of this market. People are inclining towards environment-friendly and energy-efficient devices which is influencing the market growth. A large number of manufacturers are engaging in research and development activities and constantly innovating with the heat exchange technology to create cost-effective and efficient products. Several governments have imposed regulations in order to reduce carbon emissions, which is expected to help the growth of the market tremendously.

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Top 5 Heat Exchanger Companies in the World | Leading Manufacturers

1. Alfa Laval

Alfa Laval is a globally leading provider of products in the areas of heat transfer and fluid handling. Alfa Laval also helps various industries around the world in enhancing their productivity. The company delivers sustainable products and provides solutions to a vast range of industries, particularly in the marine, energy, food, and environment industries.

2. API Heat Transfer Inc.

The company is the market leader in innovative and energy-efficient equipment. It is also a global leader in heat transfer solutions. The company has a worldwide network, with manufacturing facilities in numerous countries and a workforce of over 1600 employees. A broad portfolio and huge expertise in heat transfer technology enables the company to provide solutions to a vast range of industries globally.

3. Danfoss

The company provides reliable solutions to meet climate, food and urbanisation challenges. Danfoss focuses on engineering solutions which will solve many prevalent problems existing in today’s world. The company has powered many cities and industries around the world with their sustainable and smart technologies.

4. General Electric Company

This company focuses on achieving global energy transition and building decarbonisation solutions, which will help the world in controlling environmental problems. The company has been inventing ground-breaking technologies for the past 125 years, which have helped in the efficiency, reliability and safety of the world.

5. Johnson Controls

The company focuses on transforming the environment where people live, work, learn and play. Johnson Controls deals with the optimization of building performance and the improvement of safety and comfort. The company aims to protect the environment and carries out the necessary measures in various industries such as education, healthcare, manufacturing and data centres.