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South Korea Heat Exchanger Market

South Korea Heat Exchanger Market Size, Growth, Forecast: By Type: Shell and Tube, Air Cooled, Plate and Frame, Others; By Material: Stainless Steel, Carbon Steel, Nickel, Others; By End Use: HVAC, Chemical, Oil and Gas, Power Generation, Paper and Pulp, Others; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

South Korea Heat Exchanger Market Outlook

The South Korea heat exchanger market size is projected to expand at a CAGR of 5.8% between 2024 and 2032.

 

Key Takeaways

  • In commercial buildings, plate heat exchangers find applications in various areas such as free cooling, heat recovery, domestic hot water, and hydronic heating and cooling.
  • Advancements in heat pump technologies are creating opportunities for various applications of heat exchangers across diverse industries.
  • The focus on energy efficiency and sustainability has increased the need for more efficient and energy-saving heat exchangers, aligning with South Korea's goal of reducing carbon emissions and promoting green technologies.

 

The use of heat exchangers in South Korea is expected to gain momentum with technological advancements in the design of heat exchangers. For example, the invention of gasketed plate heat exchangers which provides improved channel flows and better use of heat transfer surface area.

 

As per the South Korea heat exchanger market analysis, shell and tube heat exchangers lead the market because of their efficient heat exchange rate and simple design. They are highly flexible and can operate across a range of temperatures and pressures, which make them apt for use in the chemical sector. Since it is made using various kinds of construction materials, it is tolerant to high pressure conditions. They are very reliable and are easy to maintain since they can be easily taken apart for cleaning, maintenance, or repair work, and put back together. They can be used in all types of applications and have lower environmental impact (use less energy and emit lower pollution) compared to traditional methods.

 

The growing focus on improving heating, ventilation, and air conditioning (HVAC) systems to boost efficiency is projected to raise the importance of heat exchangers in advancing energy conservation and decreasing carbon emissions. This aligns with the growing demand for sustainable and eco-friendly technologies across key sectors of South Korea.

 

Additionally, cooling towers can utilise heat exchangers to cool condenser water and thus, the chilled water loop in case outside air temperatures are lower, enabling the electric chiller to remain inactive. The increasing applications of heat exchangers with improvement in technologies are expected to aid the South Korea heat exchanger market growth.

 

South Korea Heat Exchanger Market

 

Market Segmentation

South Korea Heat Exchanger Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

 

Market Breakup by Type

  • Shell and Tube
  • Air Cooled
  • Plate and Frame
  • Others

 

Market Breakup by Material

  • Stainless Steel
  • Carbon Steel
  • Nickel
  • Others

 

Market Breakup by End Use

  • HVAC
  • Chemical
  • Oil and Gas
  • Power Generation
  • Paper and Pulp
  • Others

 

Competitive Landscape

The major players are continuously investing in product improvement and innovation to stay competitive in the market.

 

  • Danfoss A/S
  • General Electric Company
  • Alfa Laval AB
  • HISAKA WORKS, LTD.
  • Mersen Corporate Services SAS
  • Hantech Ltd
  • Daekyung Engineering & Construction Co. Ltd.
  • Kib plug energy Co., Ltd.
  • Others

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Material
  • End Use
Breakup by Type
  • Shell and Tube
  • Air Cooled
  • Plate and Frame
  • Others
Breakup by Material
  • Stainless Steel
  • Carbon Steel
  • Nickel
  • Others
Breakup by End Use
  • HVAC
  • Chemical
  • Oil and Gas
  • Power Generation
  • Paper and Pulp
  • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Danfoss A/S
  • General Electric Company
  • Alfa Laval AB
  • HISAKA WORKS, LTD.
  • Mersen Corporate Services SAS
  • Hantech Ltd.
  • Daekyung Engineering & Construction Co. Ltd.
  • Kib plug energy Co., Ltd.
  • Others

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

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    Market Snapshot
7    Opportunities and Challenges in the Market
8    Asia Pacific Heat Exchanger Market Overview

    8.1    Key Industry Highlights
    8.2    Asia Pacific Heat Exchanger Historical Market (2018-2023) 
    8.3    Asia Pacific Heat Exchanger Market Forecast (2024-2032)
    8.4    Asia Pacific Heat Exchanger Market Breakup by Country
        8.4.1    China
        8.4.2    Japan
        8.4.3    South Korea
        8.4.4    ASEAN
        8.4.5    Australia
        8.4.6    South Korea
        8.4.7    Others
9    South Korea Heat Exchanger Market Overview
    9.1    Key Industry Highlights
    9.2    South Korea Heat Exchanger Historical Market (2018-2023) 
    9.3    South Korea Heat Exchanger Market Forecast (2024-2032)
10    South Korea Heat Exchanger Market by Type
    10.1    Shell and Tube
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Air Cooled
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    Plate and Frame
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Others
11    South Korea Heat Exchanger Market by Material​​​​​​​
    11.1    Stainless Steel
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Carbon Steel
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    Nickel
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    Others
12    South Korea Heat Exchanger Market by End Use​​​​​​​
    12.1    HVAC
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Chemical
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Oil and Gas
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Power Generation
        12.4.1    Historical Trend (2018-2023)
        12.4.2    Forecast Trend (2024-2032)
    12.5    Paper and Pulp
        12.5.1    Historical Trend (2018-2023)
        12.5.2    Forecast Trend (2024-2032)
    12.6    Others
13    Market Dynamics​​​​​​​
    13.1    SWOT Analysis
        13.1.1    Strengths
        13.1.2    Weaknesses
        13.1.3    Opportunities
        13.1.4    Threats
    13.2    Porter’s Five Forces Analysis
        13.2.1    Supplier’s Power
        13.2.2    Buyer’s Power
        13.2.3    Threat of New Entrants
        13.2.4    Degree of Rivalry
        13.2.5    Threat of Substitutes
    13.3    Key Indicators for Demand
    13.4    Key Indicators for Price
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    General Electric Company 
            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    Alfa Laval AB 
            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    HISAKA WORKS, LTD. 
            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    Mersen Corporate Services SAS 
            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    Hantech Ltd. 
            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    Daekyung Engineering & Construction Co. Ltd. 
            14.2.7.1    Company Overview
            14.2.7.2    Product Portfolio
            14.2.7.3    Demographic Reach and Achievements
            14.2.7.4    Certifications
        14.2.8    Kib plug energy Co., Ltd. 
            14.2.8.1    Company Overview
            14.2.8.2    Product Portfolio
            14.2.8.3    Demographic Reach and Achievements
            14.2.8.4    Certifications
        14.2.9    Others
15    Key Trends and Developments in the Market​​​​​​​

 

List of Key Figures and Tables

1.    Asia Pacific Heat Exchanger Market: Key Industry Highlights, 2018 and 2032
2.    South Korea Heat Exchanger Market: Key Industry Highlights, 2018 and 2032
3.    South Korea Heat Exchanger Historical Market: Breakup by Type (USD Million), 2018-2023
4.    South Korea Heat Exchanger Market Forecast: Breakup by Type (USD Million), 2024-2032
5.    South Korea Heat Exchanger Historical Market: Breakup by Material (USD Million), 2018-2023
6.    South Korea Heat Exchanger Market Forecast: Breakup by Material (USD Million), 2024-2032
7.    South Korea Heat Exchanger Historical Market: Breakup by End Use (USD Million), 2018-2023
8.    South Korea Heat Exchanger Market Forecast: Breakup by End Use (USD Million), 2024-2032
9.    South Korea Heat Exchanger Market Structure

Key Questions Answered in the Report

The market is estimated to grow at a CAGR of 5.8% between 2024 and 2032.

Rapid industrialisation and urbanisation have created the need for energy efficient solutions in large and small residential and industrial spaces, thereby contributing to the demand for heat exchangers.

The key trends aiding the market expansion include innovations and new product launches and advancements in heating technologies.

The major types of heat exchangers include shell and tube, air cooled, and plate and frame, among others.

The major end-users include HVAC, chemical, oil and gas, power generation, and paper and pulp, among others.

The major players in the market are Danfoss A/S, General Electric Company, Alfa Laval AB, HISAKA WORKS, LTD., Mersen Corporate Services SAS, Hantech Ltd, Daekyung Engineering & Construction Co. Ltd., and Kib plug energy Co., Ltd., among others.

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