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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 (2017-2027); 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 2022-2027 to attain a value of USD 20 billion in 2026.

 

Global Heat Exchanger Market

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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.

 

Global Heat Exchanger Market By Type

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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.

 

Global Heat Exchanger Market By Region

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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.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Material, Application, Region
Breakup by Type Shell and Tube, Plate and Frame, Air Coolers, Others
Breakup by Material Sheet, Non-Sheet
Breakup by Application Chemicals, Oil and Gas, Power Generation, HVAC, Automobile, Pharmaceuticals, Food and Beverage, Pulp and Paper, Others
Breakup by Region North America, Latin America, Europe, Middle East and Africa, Asia Pacific
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Trade Data Analysis Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume
Price Analysis Historical and Forecast Price Trends- Regional
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Danfoss A/S, Güntner GmbH & Co. KG, Chart Industries, Inc., General Electric Co., Heatmaster BV, Barriquand Group, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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 (2017-2021) 
    8.3    Global Heat Exchanger Market Forecast (2022-2027)
    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 (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Plate and Frame
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
            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 (2017-2021)
                    8.4.2.4.1.3    Forecast Trend (2022-2027)
                8.4.2.4.2    Welded Plate & Frame
                    8.4.2.4.2.1    Market Share
                    8.4.2.4.2.2    Historical Trend (2017-2021)
                    8.4.2.4.2.3    Forecast Trend (2022-2027)
                8.4.2.4.3    Brazed
                    8.4.2.4.3.1    Market Share
                    8.4.2.4.3.2    Historical Trend (2017-2021)
                    8.4.2.4.3.3    Forecast Trend (2022-2027)
        8.4.3    Air Coolers
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2017-2021)
            8.4.3.3    Forecast Trend (2022-2027)
        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 (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Non-Sheet
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
    8.6    Global Heat Exchanger Market by Application
        8.6.1    Chemicals
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Oil and Gas
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
        8.6.3    Power Generation
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2017-2021)
            8.6.3.3    Forecast Trend (2022-2027)
        8.6.4    HVAC
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2017-2021)
            8.6.4.3    Forecast Trend (2022-2027)
        8.6.5    Automobile
            8.6.5.1    Market Share
            8.6.5.2    Historical Trend (2017-2021)
            8.6.5.3    Forecast Trend (2022-2027)
        8.6.6    Pharmaceuticals
            8.6.6.1    Market Share
            8.6.6.2    Historical Trend (2017-2021)
            8.6.6.3    Forecast Trend (2022-2027)
        8.6.7    Food and Beverage
            8.6.7.1    Market Share
            8.6.7.2    Historical Trend (2017-2021)
            8.6.7.3    Forecast Trend (2022-2027)
        8.6.8    Pulp and Paper
            8.6.8.1    Market Share
            8.6.8.2    Historical Trend (2017-2021)
            8.6.8.3    Forecast Trend (2022-2027)
        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 (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        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 (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        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 (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        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 (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        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 (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        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 (2022-2027)
    13.2    Europe Historical Price Trends (2016-2021) and Forecast (2022-2027)
    13.3    Asia Pacific Historical Price Trends (2016-2021) and Forecast (2022-2027)
    13.4    Latin America Historical Price Trends (2016-2021) and Forecast (2022-2027)
    13.5    Middle East and Africa Historical Price Trends (2016-2021) and Forecast (2022-2027)
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), 2017-2021
3.    Global Heat Exchanger Market Forecast: Breakup by Type (USD Billion), 2022-2027
4.    Global Heat Exchanger Historical Market: Breakup by Material (USD Billion), 2017-2021
5.    Global Heat Exchanger Market Forecast: Breakup by Material (USD Billion), 2022-2027
6.    Global Heat Exchanger Historical Market: Breakup by Application (USD Billion), 2017-2021
7.    Global Heat Exchanger Market Forecast: Breakup by Application (USD Billion), 2022-2027
8.    Global Heat Exchanger Historical Market: Breakup by Region (USD Billion), 2017-2021
9.    Global Heat Exchanger Market Forecast: Breakup by Region (USD Billion), 2022-2027
10.    North America Heat Exchanger Historical Market: Breakup by Country (USD Billion), 2017-2021
11.    North America Heat Exchanger Market Forecast: Breakup by Country (USD Billion), 2022-2027
12.    Europe Heat Exchanger Historical Market: Breakup by Country (USD Billion), 2017-2021
13.    Europe Heat Exchanger Market Forecast: Breakup by Country (USD Billion), 2022-2027
14.    Asia Pacific Heat Exchanger Historical Market: Breakup by Country (USD Billion), 2017-2021
15.    Asia Pacific Heat Exchanger Market Forecast: Breakup by Country (USD Billion), 2022-2027
16.    Latin America Heat Exchanger Historical Market: Breakup by Country (USD Billion), 2017-2021
17.    Latin America Heat Exchanger Market Forecast: Breakup by Country (USD Billion), 2022-2027
18.    Middle East and Africa Heat Exchanger Historical Market: Breakup by Country (USD Billion), 2017-2021
19.    Middle East and Africa Heat Exchanger Market Forecast: Breakup by Country (USD Billion), 2022-2027
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 2017-2027
25.    Europe Historical Price Trends and Forecast 2017-2027
26.    Asia Pacific Historical Price Trends and Forecast 2017-2027
27.    Latin America Historical Price Trends and Forecast 2017-2027
28.    Middle East and Africa Historical Price Trends and Forecast 2017-2027
29.    Global Heat Exchanger Market Structure

Key Questions Answered in the Report

In 2020, the global heat exchanger market attained a value of nearly USD 16.2 billion.

The market is projected to grow at a CAGR of 3% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach USD 20 billion by 2026.

The major industry drivers are rapid industrialisation and urbanisation and the growth of the chemical and power generation industries.

The key trends in the market are growing demand for sustainable energy development and increased construction activities.

Types of the product include shell and tube and plate and frame, and air coolers, among others. Plate and frame can be further divided into gasketed plate and frame, welded plate and frame, and brazed. Shell and tube is the dominant segment in the industry.

The materials used in the industry include sheet and non-sheet.

The application sectors include chemicals, oil and gas, power generation, HVAC, automobile, pharmaceuticals, food and beverage, pulp and paper, among others.

The major players in the industry are Danfoss A/S, Güntner GmbH & Co. KG, Chart Industries, Inc., General Electric Co., Heatmaster BV, and Barriquand Group, among others.

Analyst Review

The global heat exchanger market attained a value of USD 16.2 billion in 2020, driven by the rapid industrialisation and urbanisation and the growth of the chemical and power generation industries. Aided by the growing demand for sustainable energy development and increased construction activities, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 3%. The market is projected to reach USD 20 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the heat exchanger industry can be segmented into shell and tube, plate and frame, air coolers, among others, with shell and tube accounting for the largest market share. The materials used in the industry include sheet and non-sheet. The application sectors include chemicals, oil and gas, power generation, HVAC, automobile, pharmaceuticals, food and beverage, pulp and paper, among others. The key players in the above market include Danfoss A/S, Güntner GmbH & Co. KG, Chart Industries, Inc., General Electric Co., Heatmaster BV, and Barriquand Group, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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