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Heat Exchanger Market Showing Massive Opportunity, growing at a 5.3% to Reach $25.9 Billion by 2030

10-26-2022 12:35 PM CET | Industry, Real Estate & Construction

Press release from: Strategic Market Research

Heat Exchanger Market Showing Massive Opportunity, growing at

The global heat exchanger market worth in 2021 was USD 16.32 billion, and by 2030 it will reach USD 25.9 billion, growing at a 5.3% CAGR during 2021-2030. Heat exchangers are tools for transferring thermal energy from one fluid to another without combining the two fluids. In order to prevent mixing, the fluids are typically separated by a solid wall with high thermal conductivity, though they may also be in direct contact.

Heat Exchanger Market Insights:
• In 2021 the shell & tube segment held a significant position with a revenue share of 35.8% On the basis of product.
• The chemical & petrochemical segment held the maximum revenue share of approximately 22.7% in 2021 on the basis of end-use.
• Europe ruled the overall heat exchanger market, with a market share of nearly 32.1% in 2021.

Make a Direct Purchase of the latest Heat Exchanger Market Report published in the month of Sep-2022. Click the below link to initiate the purchase:
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Factors influencing the Heat Exchanger Market growth:
The efficient utilization of waste heat produced by various industries has become more important as the need for sustainable energy development grows, boosting the heat exchanger industry forward. Heat exchanger demand is driven by increased residential and commercial construction activity and rapid industrial growth, particularly in emerging economies. Additionally, global capacity expansions in various end-use sectors, such as oil and gas, chemicals, and power generation, among others, are contributing to industry growth. Positive government initiatives and technological innovations are expected to drive industry growth over the forecast period.

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Heat Exchanger Market Segmentation
The worldwide Heat Exchanger Market segmentation has been performed on the basis of product type, end-user, and region.

By Product Type:
• Air-Cooled
• Shell and Tube
• Plate and Frame
• Frame Heat Exchanger & Gasketed Plate
• Frame Heat Exchanger & Welded Plate
• Frame Heat Exchanger & Brazed Plate
• Microchannel Heat Exchanger
• Other Types

By End-user
• Power Generation
• Oil and Gas
• Pulp & Paper
• Chemical and Petrochemical
• HVAC and Refrigeration
• Food and Beverage Industry
• others

By Region
North America
• Canada
• Mexico
• United States

Europe
• Germany
• France
• Italy

Asia Pacific
• Japan
• India
• China

Central & South America
• Brazil

Middle east & Africa
• UAE
• Saudi Arabia

In 2021, Europe ruled the market and contributed for 32.1% of the market share. The demand for these products in the HVAC & refrigeration industry is anticipated to increase with rising public and private infrastructure investments. Additionally, it is anticipated that the demand for heat exchangers that offer improved efficiency, greater durability, and reduced fouling will rise from a number of end-use industries during the forecast period.

During the forecast period, Asia Pacific heat exchanger demand will grow at a 6.2% CAGR. Rapid industrialization and increasing investment in commercial, manufacturing, and industrial projects in Asia Pacific's developing nations has contributed to the region's overall growth in the heat exchangers market.

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Key players in Heat Exchanger Market:
• Mersen
• Boyd Corporation
• Johnson Controls
• Danfoss AS
• General Electric Company
• Kelvion Holdings GmbH
• Hisaka Works LTD
• Exchanger Industries Limited
• Alfa Laval AB
• XYLEM
• API Heat Transfer

To Know More Visit:
https://www.strategicmarketresearch.com/market-report/heat-exchangers-market

Contact Us:
Strategic Market Research LLP.
Sunil Kumar
India: +91-8260836500
Email: info@strategicmarketresearch.com
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