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The heat exchanger industry is projected to be worth $17.8 billion by 2022. The heat exchanger market is expected to rise from USD 19.2 billion in 2022 to USD 33.8 billion by 2030, representing a CAGR of 7.8% during the forecast period (2023 - 2030). The growth of the heat exchanger market can be attributed in part to the increasing demand for HVAC systems and the expansion of manufacturing. Energy price increases and industrial expansions in developing nations, such as those in the Asia-Pacific area, will further contribute to the market's expansion. When two fluids of different temperatures come into contact with one another, heat is transferred from one to the other through a heat exchanger. Many technical applications rely on heat exchangers, including climate control (air conditioning, heating, and ventilation), power generation, chemical and food processing, vehicle radiators, and waste heat recovery.
One of the most potential strategies for decreasing GHG emissions and primary energy consumption is switching to a developing, contemporary, and cost-effective thermal energy system. According to the World Green Building Council, over 28% of worldwide carbon dioxide (CO2) emissions are attributable to energy use in buildings. When a heat exchanger no longer has to run on fossil fuels, it may run on much less primary energy. By reducing demand for fossil fuels, pollution risks can be mitigated by the use of such devices. One tried and true method for comfort chilling in public buildings, schools, hospitals, and factories is the provision of chilled water via an integrated system. Therefore, the trend towards eco-friendly building has boosted the heat exchanger industry's compound annual growth rate (CAGR) in recent years.
Conventional wisdom holds that fossil fuels are by far the most important energy source for generating power. In 2020, natural gas will have produced about 40% of the nation's electricity, while coal will have produced over 19%. This is according to the Energy Information Administration (EIA). These fossil fuels contribute to global warming by releasing GHGs into the air. One of the most important variables in a product's overall acceptability is the rising use of renewable energy sources for power generation, such as wind and solar. Increased energy use and subsequent device installation are inevitable outcomes of the mandate to cut GHG emissions. The expanding renewable energy sector is also helping to increase heat exchanger market revenue.
The European heat exchanger market is the world's second-largest. The European Union is expected to experience rapid expansion in the years ahead. The region's manufacturing, industrial, and automotive sectors are all strong. The region promotes the expansion of the heat exchanger industry by focusing on less carbon-intensive processes and working towards zero-emission rules for residential and commercial buildings. The European Union's stringent environmental protection legislation also make a 20% improvement in energy efficiency and a 20% reduction in greenhouse gas emissions a top aim. Many European nations are adopting energy-efficient technologies in an effort to slow global warming. The heat exchanger market in Germany was the largest in Europe, but the market in the United Kingdom was expanding at a faster rate.
The need for long-term, low-cost, and energy-efficient solutions has led to rapid expansion in the heat exchanger market. In many fields, heat exchangers are essential because of the heat they transport between fluids while keeping energy losses to a minimum. Companies can cut back on energy use, expenses, and pollution by switching to heat exchangers with more modern designs and higher thermal efficiencies. Businesses of all sizes and in all sectors are always on the lookout for ways to streamline operations and cut costs. There is a significant market demand for high-efficiency heat exchangers that don't break the bank. In addition, cheaper, higher-quality heat exchangers are now possible thanks to developments in manufacturing techniques and materials. Due to a lack of knowledge about the need of energy-efficient buildings, the heat exchanger industry is struggling. Energy-efficient structures benefit the environment, the economy, and the occupants by decreasing their need for energy. The demand for heat exchangers is low, nonetheless, because of the general public's ignorance of their many benefits. Heat exchangers are just one example of an energy-saving measure that can seem prohibitively expensive up front. Buildings that need less energy to function save money in the long run. Consumers and construction experts alike tend to misunderstand the true costs and complications of constructing homes with low energy use and high levels of insulation.
Report Coverage
Global Heat Exchanger research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Heat Exchanger report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Heat Exchanger competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Heat Exchanger market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Heat Exchanger market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Heat Exchanger market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Danfoss A/S (Denmark), Alfa Laval AB (Sweden), Sierra S.p.A (Italy), and Xylem Inc. (U.S.).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Heat Exchanger market based on the below-mentioned segments:
Global Heat Exchanger Market, By Type
Shell & Tube
Plate
Regenerative
Air-cooled
Global Heat Exchanger market, By Application
Chemicals
Oil & Gas
Power Generation
HVACR
Food & Beverages
Other
Global Heat Exchanger market, Regional Analysis
One of the most potential strategies for decreasing GHG emissions and primary energy consumption is switching to a developing, contemporary, and cost-effective thermal energy system. According to the World Green Building Council, over 28% of worldwide carbon dioxide (CO2) emissions are attributable to energy use in buildings. When a heat exchanger no longer has to run on fossil fuels, it may run on much less primary energy. By reducing demand for fossil fuels, pollution risks can be mitigated by the use of such devices. One tried and true method for comfort chilling in public buildings, schools, hospitals, and factories is the provision of chilled water via an integrated system. Therefore, the trend towards eco-friendly building has boosted the heat exchanger industry's compound annual growth rate (CAGR) in recent years.
Conventional wisdom holds that fossil fuels are by far the most important energy source for generating power. In 2020, natural gas will have produced about 40% of the nation's electricity, while coal will have produced over 19%. This is according to the Energy Information Administration (EIA). These fossil fuels contribute to global warming by releasing GHGs into the air. One of the most important variables in a product's overall acceptability is the rising use of renewable energy sources for power generation, such as wind and solar. Increased energy use and subsequent device installation are inevitable outcomes of the mandate to cut GHG emissions. The expanding renewable energy sector is also helping to increase heat exchanger market revenue.
The European heat exchanger market is the world's second-largest. The European Union is expected to experience rapid expansion in the years ahead. The region's manufacturing, industrial, and automotive sectors are all strong. The region promotes the expansion of the heat exchanger industry by focusing on less carbon-intensive processes and working towards zero-emission rules for residential and commercial buildings. The European Union's stringent environmental protection legislation also make a 20% improvement in energy efficiency and a 20% reduction in greenhouse gas emissions a top aim. Many European nations are adopting energy-efficient technologies in an effort to slow global warming. The heat exchanger market in Germany was the largest in Europe, but the market in the United Kingdom was expanding at a faster rate.
The need for long-term, low-cost, and energy-efficient solutions has led to rapid expansion in the heat exchanger market. In many fields, heat exchangers are essential because of the heat they transport between fluids while keeping energy losses to a minimum. Companies can cut back on energy use, expenses, and pollution by switching to heat exchangers with more modern designs and higher thermal efficiencies. Businesses of all sizes and in all sectors are always on the lookout for ways to streamline operations and cut costs. There is a significant market demand for high-efficiency heat exchangers that don't break the bank. In addition, cheaper, higher-quality heat exchangers are now possible thanks to developments in manufacturing techniques and materials. Due to a lack of knowledge about the need of energy-efficient buildings, the heat exchanger industry is struggling. Energy-efficient structures benefit the environment, the economy, and the occupants by decreasing their need for energy. The demand for heat exchangers is low, nonetheless, because of the general public's ignorance of their many benefits. Heat exchangers are just one example of an energy-saving measure that can seem prohibitively expensive up front. Buildings that need less energy to function save money in the long run. Consumers and construction experts alike tend to misunderstand the true costs and complications of constructing homes with low energy use and high levels of insulation.
Report Coverage
Global Heat Exchanger research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Heat Exchanger report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Heat Exchanger competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Heat Exchanger market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Danfoss A/S (Denmark), Alfa Laval AB (Sweden), Sierra S.p.A (Italy), and Xylem Inc. (U.S.). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Heat Exchanger Market from 2021 to 2030.
- Market Forecast for Heat Exchanger Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Heat Exchanger competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Heat Exchanger
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Heat Exchanger market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Heat Exchanger market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Danfoss A/S (Denmark), Alfa Laval AB (Sweden), Sierra S.p.A (Italy), and Xylem Inc. (U.S.).
Primary Target Market
- Market Players of Heat Exchanger
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Heat Exchanger market based on the below-mentioned segments:
Global Heat Exchanger Market, By Type
Shell & Tube
Plate
Regenerative
Air-cooled
Global Heat Exchanger market, By Application
Chemicals
Oil & Gas
Power Generation
HVACR
Food & Beverages
Other
Global Heat Exchanger market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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