Global Heat Exchanger Market By Product Type (Plate & Frame {Brazed, Gasketed, Welded}, Shell & Tube, Air Cooled) By Material (Carbon Steel, Stainless Steel, Nickel, and Others) By End-User (Chemical, Petrochemical, Oil & Gas, HVACR, Food & Beverage, Power Generation, and Others) By Region, Competition Forecast & Opportunities, 2027

Global heat exchanger market is expected to grow with an impressive CAGR in the forecast period of 2023-2027. The market for heat exchanger is growing on the account of increasing usage of heat exchanger in oil and gas industries. Moreover, the device is employed in various factories with purpose pertaining to industrial applications in steam power plant, chemical processing plants, building heat, etc. Since these industries and their production is increasing so is the demand for heat exchangers in these industries. Thus, driving the growth of global heat exchanger market in the upcoming five years.

Global heat exchanger market is segmented by product type, material, end-user, and regional distribution. Based on product type the market is further fragmented into plate & frame, shell & tube, and air cooled. Plate and frame sub-segment are further categorized into brazed, gasketed, and welded type of heat exchanger. Shell & tube type of heat exchangers are expected to continue its dominance in the market because of its cost-effectiveness over its counterparts in the market. Moreover, this type of heat exchanger is easily applicable even in high operating temperature and pressure thereby fueling the demand for the global heat exchanger market.

Some of the major competitors in the market are ALFA Laval AB, GEA Group Aktiengesellschaft, Xylem Incorporated, SPX Corporation, Danfoss, Hamon & Cie (International) SA, Modine Manufacturing Company, FUNKE Wärmeaustauscher Apparatebau GmbH, Sondex Holding, API Heat Transfer Incorporated, among others.

Objective of the Study

• To analyze the historical growth of the market size of global heat exchanger market from 2017 to 2020.
• To estimate and forecast the market size of global heat exchanger market from 2021 to 2027 and growth rate until 2027. 
• To classify and forecast global heat exchanger market based on product type, material, end-user, region, and company.
• To identify dominant region or segment in the global heat exchanger market.
• To identify drivers and challenges for global heat exchanger market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global heat exchanger market.
• To identify and analyze the profile of leading players operating in global heat exchanger market.
• To identify key sustainable strategies adopted by market players in global heat exchanger market.

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Market insights research performed both primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of manufacturers, suppliers, and service providers across the country. Subsequently, Market insights research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market insights research could include the manufactures which could not be identified due to the limitations of secondary research. Market insights research analyzed the manufactures, distribution channels and presence of all major players across the country.

Market insights research calculated the market size of global heat exchanger market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. Market insights research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by Market insights research.

Key Target Audience

• Manufacturers, end users, service providers and other stakeholders
• Distributers and suppliers of heat exchanger products and other stakeholders
• Organizations, forums, and alliances related to heat exchanger market   
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as vendors, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.