Heat Exchanger Global Market – Overview
The Global Heat Exchanger Market is expected to grow at ~9.5% during the forecast period 2018-2023. Heat exchanger works on heat transfer technology were thermal energy is transferred between one fluid to another fluid or solid surface and fluid, which are originally at different temperatures and are in thermal contact. Based on the flow arrangement the heat exchangers are classified as parallel-flow heat exchanger and counter-flow heat exchangers
The Global Heat Exchanger Market is being driven due to surging prices and in future this market is considered to play significant role in oil & gas, petrochemical, power generation industries. Rapid Industrial development in developing countries and increasing investment in commercial and Industrial sector has contributed to the growth of heat exchanger market. Technological advancement in heat exchanger has resulted in recovering valuable energy, reducing cost, and limiting environmental emission.
Power requirement for commercial and non-commercial purpose is increasing due to rise in population which resulted in demand for Heat Exchanger Market. The efficiency improvement of heat exchangers is a big boost for enhancing the economics associated with the usage of heat exchangers.
The Global Heat Exchanger Market is segmented based on type, application and region. Based on type heat exchanger is segmented as Shell & Tube, Plate & Frame, Regenerative and Air-cooled Exchangers. Based on application market is segmented as chemicals, oil & gas, power generation, HVACR (Heating Ventilation Air Conditioning and Refrigeration), Food & Beverages. Based on Region North America, Europe, Asia-Pacific, MEA (Middle East & Africa)
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Heat Exchanger Global Market – Competitive Analysis
The global market for heat exchanger is at a growing stage. All key players in the market are market are investing in research and development to expand their product base and introduce new products in the market. Market leaders are unceasingly looking for expansion opportunities by acquiring companies. Key players are seeking opportunities to work in Asia-Pacific, on account of growing development in the region.
Heat Exchanger Global Market – Segmentation
The scope of Global Heat Exchanger Market is segmented into two major segments which are explained below:
- Oil & Gas
- Power Generation
- Food & Beverage
- Shell & Tube
- Plate & Frame
- Air cooled
Heat Exchanger Global Market – Key Player
Alfa Laval AB, Kelvion Holdings GmBH, Southern Heat Exchanger, Danfoss A/S, SPX Corporation, Xylem Inc., API Heat Transfer Inc., Gunter AG & Co. KG, Sierra S.p.A, and Hamon & Cie International SA, Koch Heat Transfer Company, and Hughes Anderson Heat Exchangers. are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Heat Exchanger Market.
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In April 2018 – Bitzer Italia had signed a contract for buying commercial tubular heat exchanger from Alfa Laval. This deal mainly focuses on the refrigeration and air conditioning market which is a part of greenhouse and reported positive development approach for tubular heat exchanger business worth about USD 13 million in 2017.