CHICAGO, May 26, 2023 /PRNewswire/ -- The report "Heat Exchangers Market by Type (Shell & Tube, Plate & Frame, Air Cooled), Application (Chemical, Energy, HVACR, Food & Beverage, Power, Paper & Pulp), Material (Metals, Alloys and Brazing Clad), and Region - Global Forecast to 2028", is projected to reach USD 29.0 billion by 2028, at a CAGR of 7.1% from USD 20.5 billion in 2023.
The major drivers for the heat exchanger market are rising demand for HVACR equipment for the commercial construction industry, urbanization, rapid industrialization, and stringent regulatory & sustainable mandates concerning the greenhouse gas and Co2 emission. The fluctuation in raw material prices is the major restraint in this market. Opportunities for the market include increase in rising nuclear power plants in emerging economies.
Browse in-depth TOC on "Heat Exchangers Market"
153 – Tables
50 – Figures
238 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=750
"Air cooled segment is projected to be second fastest CAGR by type, in terms of volume, during the forecast period."
Air cooled heat exchangers (ACHE) is a heat rejection system used for process cooling by convection and conduction to dissipate heat from process fluid to air. They utilize air as a cooling medium, which is supplied by an external electrical power source. The rise in demand for air-cooled heat exchangers can be attributed to environmental concerns, industrial growth, operational advantages, technological advancements, and the shift towards decentralized plant configurations.
"HVAC & Refregeration segment is projected to be second fastest CAGR by end use industry, in terms of value, during the forecast period."
The demand for heat exchangers in the HVAC & refregeration industry is witnessing a significant upsurge due to the growing emphasis on energy efficiency, environmental regulations, and improved indoor air quality. Heat exchangers play a crucial role in HVACR systems by enabling efficient heat transfer between fluids, resulting in reduced energy consumption and operating costs. The HVAC & refregeration industry continues to prioritize energy efficiency, environmental sustainability, and occupant well-being, the demand for heat exchangers is expected to grow further.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=750
"Middle East & Africa is expected to be the second fastest growing market for heat exchanger during the forecast period, in terms of value."
The Middle East & Africa is the third-largest oil-producing economy. Saudi Arabia, Iran, Iraq, the UAE, Kuwait, and Qatar are the major suppliers of fossil fuels. The region has witnessed an increase in demand for heat exchangers due to several factors. The rapid industrialization and infrastructure development in sectors such as oil and gas, petrochemicals, power generation, and mining have created a higher demand for efficient heat transfer solutions. The regions also have an extreme climate necessitates effective cooling and heat dissipation in various industrial processes.
New product launches and expansions are the major growth strategies adopted by the key players in the market. The key global players in the heat exchanger market include ALFA LAVAL (Sweden), Kelvion Holding GmbH (Germany), Danfoss (Denmark), Exchanger Industries Limited (Canada), Mersen (France), API Heat Transfer (US), BOYD Corporation (US), Johnson Controls (Ireland), Wabtec Corporation (US), XYLEM (US), and H. Güntner (UK) Limited (Germany).
Browse Adjacent Market: Equipment Machine and Tooling Market Research Reports & Consulting
Related Reports:
Microchannel Heat Exchanger Market - Global Forecast to 2024
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/heat-exchanger-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/heat-exchanger.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
SOURCE MarketsandMarkets
![](https://rt.prnewswire.com/rt.gif?NewsItemId=IO12079&Transmission_Id=202305260500PR_NEWS_USPR_____IO12079&DateId=20230526)
Share this article