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Heat Exchanger Market is Poised to Grow At A Rate of 8% by 2025

The global heat exchanger market has exhibited a commendable expansion over the past few years with profound applications in the commercial and residential cooling and heating systems. The device effectively transfers heat between two or more fluids and is significantly used in applications like food processing, central heating, refrigeration, and others.

Another profound factor entailing the product deployment globally is the rising use of Waste Heat Recovery systems across industry sectors for heat transfer from process outputs to other part of the process to facilitate the efficiency. Additionally, a paradigm shift in government reforms to minimize toxic carbon emissions would depict a profitable growth graph for heat exchanger industry over the forecast period.

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The stringent regulatory norms devised to reduce carbon footprint in tandem with rigid industrial growth are likely to foster heat exchanger market trends in the upcoming years. The introduction of emission reduction targets across various emerging economies has worked to combat the adverse effects of global warming, calling out for increasing investments towards the replacement of process equipment. Besides, mounting emphasis on capacity addition generation and potential outlook for chemical sector are likely to propel heat exchanger market trends during 2019-2025.

As per estimates, worldwide heat exchanger market size is predicted to record a remuneration of USD 13 billion by the end of 2025, embarking its name in the billion-dollar fraternity.

Considering the regulatory landscape, increasing government focus towards the development and upgradation of advanced industrial centers and expansion of current manufacturing units across the Chinese sub-continent, would potentially fuel China heat exchanger market dynamics by 2025.

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Contemplating the current scenario, the country accounts for nearly 40 per cent of the global manufacturing value added which is supporting it in rapidly evolving as a manufacturing hub worldwide. Understating the obvious, rising investment across metallurgy, chemical and oil, and food processing sectors would produce lucrative growth prospects for China heat exchanger industry over the mentioned time frame.

Elaborating further, not only China, but Middle East and Africa region is also expected to soar high across the heat exchanger realm owing to burgeoning investments from various financial institutions and banks in an effort to spur industrialization rate and economic growth across the region.

Furthermore, penetrating oil and gas sector across MEA and unending efforts towards expansion of manufacturing units would further bolster product adoption across the region in near future. As per estimates, MEA heat exchanger market is predicted to exhibit a CAGR of 7 per cent through 2025.

Heat exchanger market is defined by a vast product gamut and has eventually gained widespread momentum on account of the same over the past few years. Amongst these products, shell and tube heat exchangers are expected to display noteworthy gains across the global market perhaps attributing to their ability to deliver high efficiency, minimized cost, and lower pressure drop. Ongoing investments for expansion and modernization of chemical production units, and widescale deployment of WHRS across industrial sectors would propel shell and tube heat exchangers segment. These products are largely implemented across sectors involving oil and gas, primary metal manufacturing, food processing, and other applications.

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Speaking of which, the food processing industry is estimated to emerge out as lucrative application ground for heat exchanger market over 2019-2025. This growth can be aptly credited to the increasing focus towards energy optimization and unending technological innovations across the sector, with an intent to offer economically viable heat transfer solutions.

Heat exchanger market is highly fragmented and is defined by the robust presence of key industry players including Larsen and Toubro, Danfoss, Wessels, Hitachi, and many others. These firms have been striving hard to score an edge over their competitors via mergers, collaborations and acquisitions.

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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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