Heat Exchanger Market is expected to display an steady growth by 2027|CAGR: ~7%| UnivDatos Market Insights

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13 Sep, 2022, 20:30 IST

NOIDA, India, Sept. 13, 2022 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights the Heat Exchanger Market is expected to grow at a CAGR of over 7% from 2021-2027. The analysis has been segmented into Type of Solution (Laboratory Information Management, Electronic Lab Notebooks, Scientific Data Management System, Laboratory Execution Systems, Electronic Data Capture & Clinical Data Management Systems, Chromatography Data Systems, Enterprise Content Management); Deployment Model (On-Premise, Cloud-Based, Remotely Hosted); Component (Services, Software); End-Users (Life Science Industry, Chemical Industry, Food & Beverage And Agriculture Industry, Petrochemical Refineries And Oil & Gas Industry, Environmental Testing Laboratories, Other Industries); Region/Country.

The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Heat Exchanger Market in the Global context. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the Global Heat Exchanger Market at the regional & country levels.

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Market Overview

A heat exchanger refers to a device that is generally used in the transmission of heat amongst two or more fluids, mainly between a hard surface and a fluid at dissimilar temperatures and thermal contact. It contains streams of hot and cold fluids, which are utilized to transfer thermal energy among the streams. They may be separated by a thermally conductive tube or plate or kept in direct contact if the fluids are immiscible. Hence, they are widely utilized in boilers, furnaces, refrigerators, automotive radiators, sewage treatment, and air conditioning systems.

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COVID-19 Impact

The outbreak of COVID-19 hurt the heat exchanger market. The lockdown restrictions around the globe have shut down all the industry's activities coupled with halted the ongoing expansion of chemical and power generation projected which had impacted the market demand for heat exchangers. Similarly, COVID-19 had negatively impacted the demand for refrigerators and cooling devices for food and beverages and chemical industries.

The global Heat Exchanger Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

  • Based on type, the heat exchanger market is segmented into shale & tube, plate & frame, air-cooled, and others. The shell and tube cater to the considerable market share. It is mainly owing to its ability to operate at higher temperature and pressure, and easy pressure testing which helps in finding the faults which are preferred in a variety of applications such as chemical, petrochemical and oil & gas, food & beverage, and power generation.
  • Based on material, the heat exchanger market is divided into carbon steel, stainless steel, nickel, and others. Stainless steel captured a significant share in the market and is expected to have significant demand in the future as well. It is mainly owing to the beneficial characteristics of stainless steel such as resistance against corrosion in a wide range of pH levels, lightweight, high thermal conductivity, and no requirement of special fluids as it is compatible with plain clean water.
  • Based on end-users, the market is classified into chemical, petrochemical, and oil & gas, HVAC and refrigeration, food & beverage, power generation, paper & pulp, and others. Recently, the chemical segment catered significant market share in the global heat exchanger market. As heat exchangers in chemicals are used in the manufacturing process which includes condensation of solvents, benzene heat recovery, cooling of water circuits, cooling of hydrocarbons, heating & cooling of intermediate products, heating and cooling of reactors, and production processes.

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Heat Exchanger Market Geographical Segmentation Includes:

  • North America (United States, Canada, and Rest of North America)
  • Europe (Germany, United Kingdom, Italy, France, Spain, and the Rest of Europe)
  • Asia-Pacific (China, India, Australia, Japan, and the Rest of Asia-Pacific)
  • Rest of the World

For a better understanding of the market adoption, the report provides a detailed analysis of major regions and countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, Spain, Italy, France, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. The Asia Pacific holds a prominent market share due to increasing industrial operations in developing countries such as China, India, etc.

The major players targeting the market include

  • Alfa Laval
  • API Heat Transfer Inc
  • Danfoss
  • General Electric Company
  • Hisaka Works
  • IHI Corporation
  • Johnson Controls
  • Kelvion Holding GmbH
  • Koch Industries
  • Boyd Corporation.

Competitive Landscape

The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the global context. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Heat Exchanger Market. The major players have been analyzed using different research methodologies for getting insight views on market competition.

Key questions resolved through this analytical market research report include:

  • What are the latest trends, new patterns, and advancements in the Heat Exchanger Market?
  • Which factors are influencing the Heat Exchanger Market over the forecast period?
  • What are the challenges, threats, and risks in the Heat Exchanger Market?
  • Which factors are propelling and restraining the Heat Exchanger Market?
  • What are the demanding regions of the Heat Exchanger Market globally?
  • What will be the market size in the upcoming years?
  • What are the crucial market acquisition strategies and policies applied by the companies?

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