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Global Heat Exchanger Market: By Type: Shell and Tube, Plate and Frame, Air Coolers; By Material: Sheet, Non-Sheet; By Application: Chemicals, Oil and Gas, Power Generation, HVAC, Automobile, Pharmaceuticals, Others; Regional Analysis; Historical Market and Forecast (2016-2026); Competitive Landscape; Industry Events and Developments
Global Heat Exchanger Market Outlook
The global heat exchanger market reached a value of about USD 16.2 billion in 2020. The market is further expected to grow at a CAGR of 3% in the forecast period of 2021-2026 to attain a value of USD 20 billion in 2026.
The Asia Pacific to Provide Significant Growth Opportunities to the Heat Exchanger Industry
Region-wise, Europe accounts for a significant share in the industry owing to the growing focus on effective utilisation of waste heat from industrial processes. This, coupled with the stringent environmental regulations, is resulting in increased installation of heat exchangers in the region. Meanwhile, the Asia Pacific is expected to witness a robust growth in the forecast period owing to the rapid industrialisation and urbanisation across the region and the growth of the chemical and power generation industries. There has been a rise in demand for heat exchangers in emerging economies like China and India. This is contributing to the growth of the heat exchanger industry. The increasing energy demand and the growing investments to upgrade the existing energy infrastructure in these nations are expected to aid the regional industry growth in the forecast period.
Heat Exchanger: Industry Definition and Segmentation
Heat exchangers refer to a system that is designed to facilitate the transfer of heat between two or more fluids. These systems can be utilised in both cooling and heating processes. They find applications across various industries like oil and gas, power generation, automobile, and chemical, among others to effectively manage the transfer of energy from one medium to another.
By type, the market is divided into:
- Shell and Tube
- Plate and Frame
- Air Coolers
- Others
The plate and frame segment is further divided based on type into gasketed plate and frame, welded plate and frame, and brazed.
Based on material, the industry can be bifurcated into:
- Sheet
- Non-Sheet
On the basis of application, the industry can be categorised into:
- Chemicals
- Oil and Gas
- Power Generation
- HVAC
- Automobile
- Pharmaceuticals
- Food and Beverage
- Pulp and Paper
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Increasing Focus on Effective Utilisation of Energy and the Rapid Industrial Growth in Emerging Economies to Bolster the Growth of the Heat Exchanger Industry
With the growing demand for sustainable energy development, there has been an increasing focus on effective utilisation of waste heat generated from various industries. This is driving the growth of the heat exchanger industry globally. The increased construction activities across residential and commercial sectors and the rapid industrial growth, particularly in emerging economies, are driving the demand for heat exchangers. Further, the global capacity expansions across various end use sectors like chemicals, oil and gas, and power generation, among others, is further contributing to the industry growth. Over the forecast period, the favourable government initiatives and technological innovations are expected to further propel the industry growth.
Key Industry Players in the Global Heat Exchanger Market
The report gives a detailed analysis of the following key players in the global heat exchanger market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Danfoss A/S
- Güntner GmbH & Co. KG
- Chart Industries, Inc.
- General Electric Co.
- Heatmaster BV
- Barriquand Group
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Heat Exchanger Market Analysis
8.1 Key Industry Highlights
8.2 Global Heat Exchanger Historical Market (2016-2020)
8.3 Global Heat Exchanger Market Forecast (2021-2026)
8.4 Global Heat Exchanger Market by Type
8.4.1 Shell and Tube
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2016-2020)
8.4.1.3 Forecast Trend (2021-2026)
8.4.2 Plate and Frame
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2016-2020)
8.4.2.3 Forecast Trend (2021-2026)
8.4.2.4 Breakup by Type
8.4.2.4.1 Gasketed Plate & Frame
8.4.2.4.1.1 Market Share
8.4.2.4.1.2 Historical Trend (2016-2020)
8.4.2.4.1.3 Forecast Trend (2021-2026)
8.4.2.4.2 Welded Plate & Frame
8.4.2.4.2.1 Market Share
8.4.2.4.2.2 Historical Trend (2016-2020)
8.4.2.4.2.3 Forecast Trend (2021-2026)
8.4.2.4.3 Brazed
8.4.2.4.3.1 Market Share
8.4.2.4.3.2 Historical Trend (2016-2020)
8.4.2.4.3.3 Forecast Trend (2021-2026)
8.4.3 Air Coolers
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2016-2020)
8.4.3.3 Forecast Trend (2021-2026)
8.4.4 Others
8.5 Global Heat Exchanger Market by Material
8.5.1 Sheet
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2016-2020)
8.5.1.3 Forecast Trend (2021-2026)
8.5.2 Non-Sheet
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2016-2020)
8.5.2.3 Forecast Trend (2021-2026)
8.6 Global Heat Exchanger Market by Application
8.6.1 Chemicals
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2016-2020)
8.6.1.3 Forecast Trend (2021-2026)
8.6.2 Oil and Gas
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2016-2020)
8.6.2.3 Forecast Trend (2021-2026)
8.6.3 Power Generation
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2016-2020)
8.6.3.3 Forecast Trend (2021-2026)
8.6.4 HVAC
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2016-2020)
8.6.4.3 Forecast Trend (2021-2026)
8.6.5 Automobile
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2016-2020)
8.6.5.3 Forecast Trend (2021-2026)
8.6.6 Pharmaceuticals
8.6.6.1 Market Share
8.6.6.2 Historical Trend (2016-2020)
8.6.6.3 Forecast Trend (2021-2026)
8.6.7 Food and Beverage
8.6.7.1 Market Share
8.6.7.2 Historical Trend (2016-2020)
8.6.7.3 Forecast Trend (2021-2026)
8.6.8 Pulp and Paper
8.6.8.1 Market Share
8.6.8.2 Historical Trend (2016-2020)
8.6.8.3 Forecast Trend (2021-2026)
8.6.9 Others
8.7 Global Heat Exchanger Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2016-2020)
9.1.2 Forecast Trend (2021-2026)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2016-2020)
9.2.2 Forecast Trend (2021-2026)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2016-2020)
9.3.2 Forecast Trend (2021-2026)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2016-2020)
9.4.2 Forecast Trend (2021-2026)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2016-2020)
9.5.2 Forecast Trend (2021-2026)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis (HS Code - 841950)
12.1 Major Importing Countries
12.1.1 By Volume
12.1.2 By Value
12.2 Major Exporting Countries
12.2.1 By Volume
12.2.2 By Value
13 Price Analysis
13.1 North America Historical Price Trends (2016-2021) and Forecast (2021-2026)
13.2 Europe Historical Price Trends (2016-2021) and Forecast (2021-2026)
13.3 Asia Pacific Historical Price Trends (2016-2021) and Forecast (2021-2026)
13.4 Latin America Historical Price Trends (2016-2021) and Forecast (2021-2026)
13.5 Middle East and Africa Historical Price Trends (2016-2021) and Forecast (2021-2026)
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Danfoss A/S
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Güntner GmbH & Co. KG
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Chart Industries, Inc.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 General Electric Co.
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Heatmaster BV
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Barriquand Group
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Others
15 Industry Events and Developments
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Figures and Tables
1. Global Heat Exchanger Market: Key Industry Highlights, 2016 and 2026
2. Global Heat Exchanger Historical Market: Breakup by Type (USD Billion), 2016-2020
3. Global Heat Exchanger Market Forecast: Breakup by Type (USD Billion), 2021-2026
4. Global Heat Exchanger Historical Market: Breakup by Material (USD Billion), 2016-2020
5. Global Heat Exchanger Market Forecast: Breakup by Material (USD Billion), 2021-2026
6. Global Heat Exchanger Historical Market: Breakup by Application (USD Billion), 2016-2020
7. Global Heat Exchanger Market Forecast: Breakup by Application (USD Billion), 2021-2026
8. Global Heat Exchanger Historical Market: Breakup by Region (USD Billion), 2016-2020
9. Global Heat Exchanger Market Forecast: Breakup by Region (USD Billion), 2021-2026
10. North America Heat Exchanger Historical Market: Breakup by Country (USD Billion), 2016-2020
11. North America Heat Exchanger Market Forecast: Breakup by Country (USD Billion), 2021-2026
12. Europe Heat Exchanger Historical Market: Breakup by Country (USD Billion), 2016-2020
13. Europe Heat Exchanger Market Forecast: Breakup by Country (USD Billion), 2021-2026
14. Asia Pacific Heat Exchanger Historical Market: Breakup by Country (USD Billion), 2016-2020
15. Asia Pacific Heat Exchanger Market Forecast: Breakup by Country (USD Billion), 2021-2026
16. Latin America Heat Exchanger Historical Market: Breakup by Country (USD Billion), 2016-2020
17. Latin America Heat Exchanger Market Forecast: Breakup by Country (USD Billion), 2021-2026
18. Middle East and Africa Heat Exchanger Historical Market: Breakup by Country (USD Billion), 2016-2020
19. Middle East and Africa Heat Exchanger Market Forecast: Breakup by Country (USD Billion), 2021-2026
20. Major Importing Countries by Volume (2020)
21. Major Exporting Countries by Volume (2020)
22. Major Importing Countries by Value (2020)
23. Major Exporting Countries by Value (2020)
24. North America Historical Price Trends and Forecast 2016-2026
25. Europe Historical Price Trends and Forecast 2016-2026
26. Asia Pacific Historical Price Trends and Forecast 2016-2026
27. Latin America Historical Price Trends and Forecast 2016-2026
28. Middle East and Africa Historical Price Trends and Forecast 2016-2026
29. Global Heat Exchanger Market Structure
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