The heat exchangers market value is expected to reach USD 26 billion in 2025. APAC region will continue dominating the market share and projected to rise with a CAGR of 5.6% from 2019 to 2025.

Dallas, TX -- (SBWire) -- 02/01/2019 --Adroit Market Research today published a study on the "Global Heat Exchanger Market Size 2017 By Type [Plate & Frame Heat Exchanger (Gasketed, Brazed and Welded), Shell & Tube Heat Exchanger, Air Cooled Heat Exchanger, Cooling Towers and Others], By Application (Oil & Gas, Chemical, Food & Beverage, HVACR, Paper & Pulp and Others), By Region and Forecast 2018 to 2025". The report covers the global heat exchanger market analysis for the current scenario as well as the growth prospects. The report details heat exchangers market by type and applications as well as focusses on the current market trends, competition, and dynamics including drivers, restraints and opportunities.

The report also provides a detailed analysis of plate heat exchangers market share, key strategies adopted by industry participants, Porter's Five Forces Analysis and value chain analysis for better decision making. Plate & frame heat exchangers market has been discussed in detail in terms of its demand impacted by different end-use industries and macroeconomic indicators for key geographical markets.

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The global heat exchanger market is projected to surpass USD 26 billion by 2025, driven by its huge demand in various end-use industries. Rapid energy infrastructure expansion coupled with the growing emphasis on lowering heat energy costs in industries by increasing energy efficiency are some of the key market drivers for the growth of the global heat exchanger market.

Heat exchangers market share varies with regions owing to significant investments in the chemical, petrochemical, hear ventilation air-conditioning & refrigeration (HVACR), food & beverage and power generation. The rapid growth of process and discrete industries and their manufacturing operations globally are expected to expand the market growth. Rising demand for HVAC equipment in developing economies such as India and China significantly contribute to the demand over the forecast period. Other driving factors include heavy investments in the marine shipbuilding market, which has also catered to increased demand for heat exchangers.

In 2017, plate & frame heat exchangers market accounted for approximately 25% of the global heat exchanger market share. Plate & frame heat exchangers are further segmented into gasketed, brazed and welded heat exchangers. Plate heat exchangers are widely used in the processing of oil & natural gas such as refining, processing, transportation and storage. Additionally, these heat exchangers maintain temperature changes in natural gas, liquefaction plants and manufacturing industries and are expected to pose a lucrative opportunity for market growth over the next few years.

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Chemical application segment is expected to rise with a fast-paced CAGR of 5.5% over the forecast period. The chemical industry involves a series of processes such as heating, cooling, condensation, evaporation and separation. These processes undergo massive heat recovery occurring through cooling and heating of acids, caustic solutions and water solutions. This has led to an increased demand for heat exchangers in the chemical industry and therefore acts as one of the key driving factors for the growth of this application segment. Also, rising consumer purchasing power, particularly in developing countries of Asia Pacific and Latin America, is driving demand for chemicals and the products made from them.

Asia Pacific is projected to be the leader within the global heat exchangers market and maintain its prominence over the forecast period. Immense investments in the renewable energy sector have catered to massive growth opportunities for heat exchangers in this region. Increasing industrial activities in developing Asian countries such as China and India further leads to the adoption of better energy-saving equipment.

The global heat exchangers market is witnessing fierce competition owing to the presence of a large number of players. Companies such as Alfa Laval AB, Hughes Anderson Heat Exchangers Inc., Kelvion Holdings GmbH, API Heat Transfer, Inc., and Xylem Inc. are some of the leading industry players in the global heat exchanger market.

Key segments of the global heat exchangers market

Type Overview, 2015-2025 (USD Million)

Shell and Tube Heat Exchanger
Plate & Frame Heat Exchanger
Gasketed
Brazed
Welded
Air Cooled Heat Exchanger
Cooling Towers
Others

Application Overview, 2015-2025 (USD Million)

Chemical
Petrochemical and Oil & Gas
HVACR
Food & Beverage
Paper and Pulp
Others

Regional Overview, 2015-2025 (USD Million)

North America
U.S.
Canada
Europe
France
UK
Germany
Italy
Spain
Rest of Europe
Asia Pacific
India
Japan
China
Rest of APAC
Latin America
Brazil
Rest of Latin America
Middle East & Africa

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About Adroit Market Research
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market's size, key trends, participants and future outlook of an industry. We intend to become our clients' knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.