Heat Exchangers Market

Heat Exchangers Market by Type (Shell & Tube, Plate & Frame, Air Cooled), Application (Chemical, Energy, HVACR, Food & Beverage, Power, Paper & Pulp), Material (Metals, Alloys and Brazing Clad), and Region - Global Forecast to 2028

Report Code: CH 3063 May, 2023, by marketsandmarkets.com

Heat Exchangers Market

The global heat exchangers market size is valued at USD 20.5 billion in 2023 and is projected to reach USD 29.0 billion by 2028, growing at 7.1% cagr during the forecast period. The growing demand for heat exchanger is due to stringent government regulations on greenhouse gas emissions. Moreover, the rapid urbanization increases the demand for industrilisation and HVAC equipmnets in emerging economies such as India, China, Brazil, and others.

Global Heat Exchangers Market Trend

Heat Exchangers Market

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Heat Exchangers Market

Heat Exchangers Market Dynamics

Driver: Rising demand for sustainable, low energy consumption, and cost-effective heat exchangers

The heat exchanger market is experiencing significant growth due to the rising demand for sustainable low energy consumption and cost-effective solutions. Heat exchangers play a crucial role in various industries by efficiently transferring heat between fluids while minimizing energy losses. By adopting heat exchangers with advanced designs and improved thermal efficiency, businesses can reduce their energy consumption, lower operational costs, and decrease their carbon footprint. Companies across industries are continuously seeking ways to optimize their processes and reduce expenses. Heat exchangers that offer high performance at affordable prices are in high demand. Additionally, advancements in manufacturing technologies and materials have enabled the production of more cost-effective heat exchangers without compromising on quality or performance.

Restraint: Lack of awareness about energy efficiency of buildings

The heat exchanger market is facing challenges due to a lack of awareness about energy-efficient buildings. Energy-efficient buildings reduce energy consumption, lower operating costs, and have a positive environmental impact. However, the lack of awareness about these advantages leads to a limited demand for heat exchangers. The upfront cost of implementing energy-efficient building measures, including heat exchangers, can be perceived as a barrier. Although energy-efficient buildings offer long-term cost savings. When it comes to low energy and insulated houses, there are a number of misconceptions among the consumers as well as building professionals about the costs and associated problems.

Opportunity: Increasing number of nuclear power plants

According to the World Nuclear Association, in 2021, there are 443 nuclear power reactors in operation around the world, with a total installed capacity of 392.4 GW. The increasing number of power plants around the world presents a growing opportunity for the heat exchanger market. Heat exchangers play a critical role in power generation by transferring heat between different mediums, such as water, steam, and gases. As the demand for electricity continues to rise globally, the construction of new power plants, upgrades to existing plants, and expansion of renewable energy sources create a significant demand for heat exchangers.

Challenges:Capital-intensive market

The heat exchanger market faces a major challenge as the capital-intensive nature of this industry poses significant barriers to entry and expansion. The manufacturing of heat exchangers involves the use of specialized machinery, materials, and technologies, which require substantial capital investment. These expenses include the procurement of raw materials, fabrication equipment, quality control systems, and skilled labor. The high upfront costs of establishing or expanding a heat exchanger manufacturing facility can limit the number of players in the market.

Heat Exchangers Market Ecosystem

Heat Exchangers Market Ecosystem

By material, stainless steel in metals is projected to estimate the highest CAGR during the forecast period in the heat exchanger market.

The stainless steel in metal segment, is expected to register the most rapid growth rate during the forecast period. The growth in the stainless-steel heat exchanger market can be attributed to its exceptional corrosion resistance, durability, and high heat transfer efficiency. Stainless steel is capable of withstanding harsh environments, making it suitable for a wide range of industries, including oil and gas, chemical processing, and power generation. Its resistance to corrosion ensures long-term performance and reduces maintenance costs.

By type, shell & tube is the second largest in heat exchanger market, in 2022.

The demand for shell and tube heat exchangers is increasing due to their versatility, efficiency, and suitability for a wide range of applications. Shell and tube heat exchangers are widely used in industries such as oil and gas, chemical processing, power generation, HVACR, and more. They are designed to withstand high pressures and temperatures, ensuring long service life and minimal maintenance requirements. As industries continue to prioritize efficient heat transfer, durability, and adaptability in heat exchange applications, the demand for shell and tube heat exchangers is expected to rise.

By end-use industry, chemical segment is the largest in heat exchanger market, in 2022.

heat exchangers are essential in chemical manufacturing processes that involve heating or cooling of substances. They enable precise temperature control, allowing chemical reactions to occur at optimal conditions, improving product quality and process efficiency. Heat exchangers are integral in energy conservation and cost reduction in the chemical industry. By utilizing heat recovery systems, heat exchangers enable the recovery and reuse of waste heat, reducing energy consumption and minimizing environmental impact.

Asia Pacific is projected to be fastest growing amongst other regions in the heat exchanger market market, in terms of value.

Based on the region, the heat exchangers market is segmented into Asia Pacific, North America, Europe, South America, and the Middle East & Africa. Currently, Asia Pacific is the fastest growing market for heat exchangers. The region has , rapid industrialization and urbanization in countries like China, India, and Southeast Asian nations have led to increased demand for energy and infrastructure development, driving the need for heat exchangers in various sectors such as power generation, oil and gas, and chemical processing. The presence of a robust manufacturing base, expanding industrial sectors, and rising investments in key industries have created a favorable market environment for heat exchangers in the Asia Pacific region.

Heat Exchangers Market by Region

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Heat Exchangers Market Players

Some of the key players operating in the heat exchangers market include ALFA LAVAL (Sweden), Kelvion Holding GmbH (Germany), Danfoss (Denmark), Exchanger Industries Limited (Canada), Mersen (France), API Heat Transfer (US), BOYD Corporation (US), Johnson Controls (Ireland), Wabtec Corporation (US), XYLEM (US), and H. Güntner (UK) Limited (Germany).

These companies have adopted various organic as well as inorganic growth strategies between 2018 and 2022 to strengthen their positions in the market. The new product launch is the key growth strategy adopted by these leading players to enhance regional presence and develop product portfolios to meet the growing demand for heat exchangers from emerging economies.

Heat Exchangers Market Report Scope

Report Metric

Details

Market Size Value in 2023

USD 20.5 billion

Revenue Forecast in 2028

USD 29.0 billion

CAGR

7.1%

Years considered for the study

2019-2028

Base Year

2022

Forecast period

2023–2028

Units considered

Volume (Units); Value (USD Million/Billion)

Segments

Type, Material, End-Use Industry, and Region

Regions

Asia Pacific, North America, Europe, Middle East & Africa, and South America

Companies

are ALFA LAVAL (Sweden), Kelvion Holding GmbH (Germany), Danfoss (Denmark), Exchanger Industries Limited (Canada), Mersen (France), API Heat Transfer (US), BOYD Corporation (US), Johnson Controls (Ireland), Wabtec Corporation (US), XYLEM (US), and H. Güntner (UK) Limited (Germany).are the key players in the market.

This report categorizes the global heat exchanger market based on type, material, end-use industry, and region.

On the basis of type, the heat exchangers industry has been segmented as follows:
On the basis of material, the heat exchangers industry has been segmented as follows:
On the basis of end use industry, the heat exchangers industry has been segmented as follows:
  • Chemical
  • Energy
  • HVACR
  • Food & Beverages
  • Pulp & Paper
  • Power
  • Others
On the basis of region, the heat exchangers industry has been segmented as follows: 
  • North America
  • APAC
  • Europe
  • South America
  • The Middle East & Africa

The heat exchangers market has been further analyzed based on key countries in each of these regions.

Recent Developments

  • In 2023, ALFA LAVAL launched AlfaNova GL50 heat exchanger specifically for fuel cell systems. It is an asymmetric gas-to-liquid plate heat exchanger, made from 100% stainless steel. It can handle gas flows up to 250 m3/h and inlet gas temperatures up to 750°C.
  • In 2022, ALFA LAVA has partnered with Spirax Sarco, a world leader in steam and thermal energy solutions for a wide range of industries. Through this partnership, the company has delivered heat exchangers to Spirax Sarco steam and industrial fluid applications. This has also strengthened its market position globally in Europe, Asia, and the Americas.
  • In 2021, Kelvion invested USD 3.7 million for the second production facility in Tennessee, US. The company aims to expand in the US to meet the growing demand for heat exchangers in the data center and refrigeration industries in North America.
  • In 2020, Danfoss developed a comprehensive portfolio with its new Z-design technology-based microplate heat exchangers. The new technology will reduce the refrigerant charge along with design changes to minimize weight.
  • In 2021, Exchanger Industries Limited (EIL) acquired a leading Europe-based heat exchanger manufacturer, HRS Heat Exchangers Ltd. The strategic acquisition by EIL aims towards creating new business opportunities by combining HRS capabilities with EIL expansion into power generation, liquefied natural gas (LNG), renewable energy, power storage, and biofuels applications. The combined operations will create growth prospects by providing environmentally sustainable heat exchange solutions to its customer.

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 40)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 INCLUSIONS & EXCLUSIONS 
          TABLE 1 INCLUSIONS & EXCLUSIONS
    1.4 MARKET SCOPE 
          FIGURE 1 HEAT EXCHANGERS: MARKET SEGMENTATION
           1.4.1 YEARS CONSIDERED
    1.5 CURRENCY CONSIDERED 
    1.6 UNITS CONSIDERED 
    1.7 LIMITATIONS 
    1.8 STAKEHOLDERS 
    1.9 SUMMARY OF CHANGES 
 
2 RESEARCH METHODOLOGY (Page No. - 44)
    2.1 IMPACT OF SLOWDOWN/RECESSION 
    2.2 RESEARCH DATA 
          FIGURE 2 HEAT EXCHANGERS MARKET: RESEARCH DESIGN
           2.2.1 SECONDARY DATA
                    2.2.1.1 List of major secondary sources
                    2.2.1.2 Key data from secondary sources
           2.2.2 PRIMARY DATA
           2.2.3 PRIMARY SOURCES
                    2.2.3.1 Demand and supply sides
                    2.2.3.2 Key data from primary sources
                    2.2.3.3 Key industry insights
                    2.2.3.4 Breakdown of primary interviews
    2.3 MARKET SIZE ESTIMATION 
          FIGURE 3 HEAT EXCHANGERS MARKET SIZE ESTIMATION
           2.3.1 TOP-DOWN APPROACH
                    FIGURE 4 TOP-DOWN APPROACH
           2.3.2 BOTTOM-UP APPROACH
                    FIGURE 5 BOTTOM-UP APPROACH
    2.4 DATA TRIANGULATION 
          FIGURE 6 HEAT EXCHANGERS MARKET: DATA TRIANGULATION
    2.5 ASSUMPTIONS 
    2.6 GROWTH RATE ASSUMPTIONS/GROWTH FORECAST 
           2.6.1 SUPPLY SIDE
           2.6.2 DEMAND SIDE
    2.7 RISK ASSESSMENT 
 
3 EXECUTIVE SUMMARY (Page No. - 54)
    FIGURE 7 SHELL & TUBE SEGMENT TO ACCOUNT FOR LARGEST SHARE OF OVERALL HEAT EXCHANGERS MARKET
    FIGURE 8 METALS TO BE LARGEST MATERIAL SEGMENT IN HEAT EXCHANGERS MARKET
    FIGURE 9 ENERGY TO BE FASTEST-GROWING END-USE INDUSTRY OF HEAT EXCHANGERS DURING FORECAST PERIOD
    FIGURE 10 ASIA PACIFIC TO BE FASTEST-GROWING REGION DURING FORECAST PERIOD
 
4 PREMIUM INSIGHTS (Page No. - 57)
    4.1 EMERGING ECONOMIES TO WITNESS HIGHER DEMAND FOR HEAT EXCHANGERS 
          FIGURE 11 ASIA PACIFIC TO WITNESS HIGH GROWTH DURING FORECAST PERIOD
    4.2 HEAT EXCHANGERS MARKET, BY TYPE 
          FIGURE 12 PLATE & FRAME TYPE SEGMENT TO LEAD HEAT EXCHANGERS MARKET DURING FORECAST PERIOD
    4.3 HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY 
          FIGURE 13 HVACR TO BE LARGEST END-USE INDUSTRY DURING FORECAST PERIOD
    4.4 HEAT EXCHANGERS MARKET, BY COUNTRY 
          FIGURE 14 MARKET IN INDIA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 59)
    5.1 INTRODUCTION 
    5.2 IMPACT OF RECESSION 
    5.3 MARKET DYNAMICS 
          FIGURE 15 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN HEAT EXCHANGERS MARKET
           5.3.1 DRIVERS
                    5.3.1.1 Increasing industrialization in emerging economies
                    5.3.1.2 Rising energy efficiency regulations and stringent emission standards
                    5.3.1.3 Growing demand for HVACR equipment from commercial construction industry
                    5.3.1.4 Rising demand for sustainable, low energy consumption, and cost-effective heat exchangers
           5.3.2 RESTRAINTS
                    5.3.2.1 Fluctuations in prices of raw materials
                    5.3.2.2 Lack of awareness about energy efficiency of buildings
                    5.3.2.3 Sluggish growth of heat exchangers market in developed economies
           5.3.3 OPPORTUNITIES
                    5.3.3.1 Increasing number of nuclear power plants
                    5.3.3.2 Growing aftermarket
           5.3.4 CHALLENGES
                    5.3.4.1 Regulations pertaining to fluorinated greenhouse gases
                    5.3.4.2 Capital-intensive market
    5.4 VALUE CHAIN ANALYSIS 
          FIGURE 16 OVERVIEW OF VALUE CHAIN OF HEAT EXCHANGERS MARKET
           5.4.1 RAW MATERIAL SUPPLIERS
           5.4.2 MANUFACTURERS
           5.4.3 DISTRIBUTORS
           5.4.4 END-USE INDUSTRIES
                    TABLE 2 HEAT EXCHANGERS MARKET: VALUE CHAIN STAKEHOLDERS
    5.5 PORTER’S FIVE FORCE ANALYSIS 
          FIGURE 17 PORTER’S FIVE FORCES ANALYSIS: HEAT EXCHANGERS MARKET
           5.5.1 THREAT OF SUBSTITUTES
           5.5.2 BARGAINING POWER OF SUPPLIERS
           5.5.3 THREAT OF NEW ENTRANTS
           5.5.4 BARGAINING POWER OF BUYERS
           5.5.5 INTENSITY OF COMPETITIVE RIVALRY
                    TABLE 3 HEAT EXCHANGERS: PORTER’S FIVE FORCES ANALYSIS
    5.6 MACROECONOMIC INDICATORS 
           5.6.1 GLOBAL GDP TRENDS
                    TABLE 4 TRENDS OF PER CAPITA GDP (USD) 2020–2022
                    TABLE 5 GDP GROWTH ESTIMATE AND PROJECTIONS FOR KEY COUNTRIES, 2023–2027
           5.6.2 OIL & GAS STATISTICS
                    TABLE 6 OIL PRODUCTION, BY COUNTRY, 2020–2021, THOUSAND BARRELS DAILY
           5.6.3 POWER GENERATION STATISTICS
                    TABLE 7 POWER GENERATED IN KEY COUNTRIES, 2018 –2021, TERAWATT HOUR (TWH)
    5.7 TARIFF AND REGULATORY LANDSCAPE 
           5.7.1 REGULATIONS
                    5.7.1.1 North America
                    5.7.1.2 Europe
                    5.7.1.3 ASIA PACIFIC
                                TABLE 8 HCFC CONSUMPTION REDUCTION SCHEDULE FOR FIVE NON-ARTICLE PARTIES
                                TABLE 9 HCFC CONSUMPTION REDUCTION SCHEDULE FOR ARTICLE FIVE PARTIES
                                TABLE 10 HCFC PRODUCTION REDUCTION SCHEDULE FOR NON-ARTICLE 5 PARTIES
                                TABLE 11 HCFC PRODUCTION REDUCTION SCHEDULE FOR ARTICLE 5 PARTIES
                                TABLE 12 HFC CONSUMPTION AND PRODUCTION REDUCTION SCHEDULE FOR NON-ARTICLE 5 PARTIES
                                TABLE 13 HFC CONSUMPTION AND PRODUCTION REDUCTION SCHEDULE FOR ARTICLE 5 PARTIES – GROUP 1
                                TABLE 14 HFC CONSUMPTION AND PRODUCTION REDUCTION SCHEDULE FOR ARTICLE 5 PARTIES – GROUP 2
                    5.7.1.4 Kigali Amendment to Montreal Protocol
                                TABLE 15 REVISED HFC CONSUMPTION SCHEDULE FOR ALL PARTIES
                                TABLE 16 HFC CONSUMPTION SCHEDULE FOR PARTIES BEGINNING HFC PHASEDOWN FROM JANUARY 1, 2020
                                TABLE 17 REVISED HFC PRODUCTION SCHEDULE FOR ALL PARTIES
                                TABLE 18 HFC PRODUCTION SCHEDULE FOR PARTIES BEGINNING HFC PHASEDOWN FROM JANUARY 1, 2020
           5.7.2 STANDARDS
                    5.7.2.1 ISO 27.060.30
                    5.7.2.2 BS EN 308:2022
                    5.7.2.3 ASME Boiler and Pressure Vessel Code (BPVC)
                    5.7.2.4 TEMA (Tubular Exchanger Manufacturers Association) Standards
                    5.7.2.5 API (American Petroleum Institute) Standards
           5.7.3 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 19 LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    5.8 PRICING ANALYSIS 
           5.8.1 AVERAGE SELLING PRICE TREND, BY REGION
                    FIGURE 18 AVERAGE SELLING PRICE TREND, BY REGION (USD/UNIT)
           5.8.2 AVERAGE SELLING PRICE TREND, BY END-USER INDUSTRY
          TABLE 20 AVERAGE SELLING PRICE TREND, BY END-USER INDUSTRY (USD/UNIT)
           5.8.3 AVERAGE SELLING PRICE TREND, BY TYPE
                    FIGURE 19 AVERAGE SELLING PRICE TREND, BY TYPE (USD/UNIT)
           5.8.4 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY APPLICATION
                    FIGURE 20 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY APPLICATION (USD/UNIT)
    5.9 TECHNOLOGY ANALYSIS 
           5.9.1 NEW TECHNOLOGIES – HEAT EXCHANGERS
    5.1 RAW MATERIAL ANALYSIS 
           5.10.1 COPPER
           5.10.2 ALUMINUM
           5.10.3 TITANIUM
           5.10.4 NICKEL ALLOYS
    5.11 TRADE ANALYSIS 
           5.11.1 IMPORT TRADE ANALYSIS
                     TABLE 21 REGION-WISE IMPORT TRADE (USD THOUSAND)
                     FIGURE 21 REGION-WISE IMPORT TRADE (USD THOUSAND)
           5.11.2 EXPORT TRADE ANALYSIS
                     TABLE 22 REGION-WISE EXPORT TRADE (USD THOUSAND)
                     FIGURE 22 REGION-WISE EXPORT TRADE (USD THOUSAND)
    5.12 ECOSYSTEM / MARKET MAP 
           FIGURE 23 HEAT EXCHANGERS MARKET ECOSYSTEM
    5.13 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS' BUSINESSES 
           FIGURE 24 POWER GENERATION SECTOR TO DRIVE GROWTH
    5.14 KEY CONFERENCES & EVENTS IN 2023–2024 
           TABLE 23 HEAT EXCHANGERS MARKET: DETAILED LIST OF CONFERENCES & EVENTS
    5.15 KEY STAKEHOLDERS & BUYING CRITERIA 
           5.15.1 KEY STAKEHOLDERS IN THE BUYING PROCESS
                     TABLE 24 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS
           5.15.2 BUYING CRITERIA
                    5.15.2.1 QUALITY
                    5.15.2.2 SERVICE
                                 FIGURE 25 SUPPLIER SELECTION CRITERIA
    5.16 CASE STUDY ANALYSIS 
           5.16.1 EXCHANGER INDUSTRY MEETS TIGHT SPECIFICATIONS FOR DAIRY HEAT EXCHANGERS
           5.16.2 PASTEURIZATION ESSENTIAL FOR LITHUANIAN AD PLANT
    5.17 PATENT ANALYSIS 
           5.17.1 INTRODUCTION
           5.17.2 METHODOLOGY
           5.17.3 DOCUMENT TYPE
                     FIGURE 26 PATENTS REGISTERED (2012 TO 2022)
           5.17.4 PUBLICATION TRENDS – LAST 10 YEARS
                     FIGURE 27 NUMBER OF PATENTS DURING LAST 10 YEARS
           5.17.5 INSIGHTS
           5.17.6 JURISDICTION ANALYSIS
                     FIGURE 28 TOP JURISDICTIONS
           5.17.7 TOP COMPANIES/APPLICANTS
                     FIGURE 29 TOP APPLICANTS’ ANALYSIS
                     TABLE 25 LIST OF PATENTS BY RAYTHEON TECHNOLOGIES CORPORATION
                     TABLE 26 LIST OF PATENTS BY DENSO CORPORATION
                     TABLE 27 LIST OF PATENTS BY MITSUBISHI ELECTRIC CORPORATION
                     TABLE 28 TOP 10 PATENT OWNERS (US) IN LAST 10 YEARS
 
6 HEAT EXCHANGERS MARKET, BY MATERIAL (Page No. - 98)
    6.1 INTRODUCTION 
          FIGURE 30 METALS SEGMENT TO DOMINATE HEAT EXCHANGERS MARKET TILL 2028
          TABLE 29 HEAT EXCHANGERS MARKET, BY MATERIAL, 2019–2022 (USD MILLION)
          TABLE 30 HEAT EXCHANGERS MARKET, BY MATERIAL, 2023–2028 (USD MILLION)
           6.1.1 METALS
                    6.1.1.1 Steel
                               6.1.1.1.1 Carbon steel
                               6.1.1.1.2 Stainless steel
                                               FIGURE 31 STEEL PRICE ANALYSIS
                    6.1.1.2 Copper
                    6.1.1.3 Aluminum
                    6.1.1.4 Titanium
                    6.1.1.5 Nickel
                    6.1.1.6 Other metals
           6.1.2 ALLOYS
                    6.1.2.1 Nickel alloys
                               6.1.2.1.1 Hastelloy alloys
                               6.1.2.1.2 Inconel alloys
                               6.1.2.1.3 Monel alloys
                               6.1.2.1.4 Other nickel alloys
                    6.1.2.2 Copper alloys
                    6.1.2.3 Titanium alloys
                    6.1.2.4 Other alloys
           6.1.3 BRAZING CLAD MATERIALS
                    6.1.3.1 Copper brazing
                    6.1.3.2 Ni clad brazing
                    6.1.3.3 Phosphor copper brazing
                    6.1.3.4 Silver brazing
                    6.1.3.5 Other brazing clad materials
 
7 HEAT EXCHANGERS MARKET, BY TYPE (Page No. - 107)
    7.1 INTRODUCTION 
          FIGURE 32 SHELL & TUBE HEAT EXCHANGERS ESTIMATED TO ACCOUNT FOR LARGEST MARKET SHARE IN 2023
          TABLE 31 HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
          TABLE 32 HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
          TABLE 33 HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
          TABLE 34 HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
    7.2 SHELL & TUBE HEAT EXCHANGERS 
           7.2.1 USE IN SYSTEMS WITH HIGH OPERATING TEMPERATURES AND PRESSURES
           7.2.2 TUBULAR HEAT EXCHANGERS
           7.2.3 FIXED TUBE HEAT EXCHANGERS
           7.2.4 U-TUBE HEAT EXCHANGERS
           7.2.5 FLOATING HEAD HEAT EXCHANGERS
    7.3 PLATE & FRAME HEAT EXCHANGERS 
           7.3.1 WIDESPREAD INDUSTRIAL APPLICATIONS
           7.3.2 GASKETED PLATE & FRAME HEAT EXCHANGERS
           7.3.3 WELDED PLATE & FRAME HEAT EXCHANGERS
           7.3.4 BRAZED HEAT EXCHANGERS
    7.4 AIR COOLED HEAT EXCHANGERS 
           7.4.1 PRIMARILY USED IN CHEMICAL AND ENERGY INDUSTRIES
           7.4.2 FORCED DRAFT HEAT EXCHANGERS
           7.4.3 INDUCED DRAFT HEAT EXCHANGERS
    7.5 OTHER TYPES 
           7.5.1 EXTENDED SURFACE HEAT EXCHANGERS
           7.5.2 REGENERATIVE HEAT EXCHANGERS
 
8 HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY (Page No. - 115)
    8.1 INTRODUCTION 
          FIGURE 33 CHEMICAL INDUSTRY TO LEAD HEAT EXCHANGERS MARKET TILL 2028
          TABLE 35 HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
          TABLE 36 HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
          TABLE 37 HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
          TABLE 38 HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
    8.2 CHEMICAL 
           8.2.1 APPLICATIONS IN CHEMICAL PROCESSES SUCH AS FERTILIZERS, AMMONIA, METHIONINE, ETHYL ACETATE, FATTY ACIDS, SILICONIZED PRODUCTS, AND OTHERS
           8.2.2 BASE CHEMICALS
           8.2.3 INTERMEDIATE CHEMICALS
           8.2.4 SPECIALTY CHEMICALS
    8.3 ENERGY 
           8.3.1 CRUCIAL EQUIPMENT IN ENERGY GENERATION
           8.3.2 PETROCHEMICALS
           8.3.3 OIL & GAS
    8.4 HVAC AND REFRIGERATION 
           8.4.1 USE IN HVACR INDUSTRY FOR AIR CONDITIONING FOR RESIDENTIAL, COMMERCIAL, AND INDUSTRIAL INFRASTRUCTURE
           8.4.2 DISTRICT HEATING AND COOLING
           8.4.3 AIR-CONDITIONING
           8.4.4 COMMERCIAL REFRIGERATION
           8.4.5 INDUSTRIAL REFRIGERATION
    8.5 FOOD & BEVERAGE 
           8.5.1 RISING DEMAND FOR PROCESSED FOOD TO DRIVE MARKET
           8.5.2 PROCESSED FOOD
           8.5.3 DAIRY
           8.5.4 SUGAR AND ETHANOL PRODUCTION
           8.5.5 OTHERS
    8.6 POWER 
           8.6.1 EFFORTS TO INCREASE ENERGY OUTPUT OF POWER PLANTS TO DRIVE USAGE OF HEAT EXCHANGERS
           8.6.2 RENEWABLE
           8.6.3 NON-RENEWABLE
    8.7 PULP & PAPER 
           8.7.1 HEAT EXCHANGERS USED FOR WASTEWATER TREATMENT AND HEAT RECOVERY
    8.8 OTHER END-USE INDUSTRIES 
           8.8.1 METALLURGICAL
           8.8.2 WASTEWATER TREATMENT
           8.8.3 MINING
 
9 HEAT EXCHANGERS MARKET, BY REGION (Page No. - 126)
    9.1 INTRODUCTION 
          FIGURE 34 HEAT EXCHANGERS MARKET IN INDIA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
          TABLE 39 HEAT EXCHANGERS MARKET, BY REGION, 2019–2022 (USD MILLION)
          TABLE 40 HEAT EXCHANGERS MARKET, BY REGION, 2023–2028 (USD MILLION)
          TABLE 41 HEAT EXCHANGERS MARKET, BY REGION, 2019–2022 (UNIT)
          TABLE 42 HEAT EXCHANGERS MARKET, BY REGION, 2023–2028 (UNIT)
    9.2 ASIA PACIFIC 
           9.2.1 IMPACT OF RECESSION
                    FIGURE 35 ASIA PACIFIC: HEAT EXCHANGERS MARKET SNAPSHOT
                    TABLE 43 ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                    TABLE 44 ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                    TABLE 45 ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY COUNTRY, 2019–2022 (UNIT)
                    TABLE 46 ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY COUNTRY, 2023–2028 (UNIT)
                    TABLE 47 ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY MATERIAL, 2019–2022 (USD MILLION)
                    TABLE 48 ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY MATERIAL, 2023–2028 (USD MILLION)
                    TABLE 49 ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 50 ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 51 ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                    TABLE 52 ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                    TABLE 53 ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                    TABLE 54 ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                    TABLE 55 ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                    TABLE 56 ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
           9.2.2 CHINA
                    9.2.2.1 Rapid industrialization and flourishing end-use industries to boost market
                                TABLE 57 CHINA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                                TABLE 58 CHINA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                                TABLE 59 CHINA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                                TABLE 60 CHINA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                                TABLE 61 CHINA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                                TABLE 62 CHINA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                TABLE 63 CHINA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                                TABLE 64 CHINA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
           9.2.3 JAPAN
                    9.2.3.1 Nuclear power, construction, and food & beverage industries to drive market
                                TABLE 65 JAPAN: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                                TABLE 66 JAPAN: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                                TABLE 67 JAPAN: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                                TABLE 68 JAPAN: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                                TABLE 69 JAPAN: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                                TABLE 70 JAPAN: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                TABLE 71 JAPAN: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                                TABLE 72 JAPAN: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
           9.2.4 INDIA
                    9.2.4.1 Rapid industrialization in energy and power generation end-use industries to boost demand
                                TABLE 73 INDIA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                                TABLE 74 INDIA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                                TABLE 75 INDIA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                                TABLE 76 INDIA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                                TABLE 77 INDIA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                                TABLE 78 INDIA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                TABLE 79 INDIA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                                TABLE 80 INDIA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
           9.2.5 SOUTH KOREA
                    9.2.5.1 Rising commercial construction to boost market
                                TABLE 81 SOUTH KOREA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                                TABLE 82 SOUTH KOREA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                                TABLE 83 SOUTH KOREA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                                TABLE 84 SOUTH KOREA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                                TABLE 85 SOUTH KOREA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                                TABLE 86 SOUTH KOREA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                TABLE 87 SOUTH KOREA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                                TABLE 88 SOUTH KOREA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
           9.2.6 REST OF ASIA PACIFIC
                    TABLE 89 REST OF ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 90 REST OF ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 91 REST OF ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                    TABLE 92 REST OF ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                    TABLE 93 REST OF ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                    TABLE 94 REST OF ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                    TABLE 95 REST OF ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                    TABLE 96 REST OF ASIA PACIFIC: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
    9.3 NORTH AMERICA 
           9.3.1 IMPACT OF RECESSION
                    FIGURE 36 NORTH AMERICA: HEAT EXCHANGERS MARKET SNAPSHOT
                    TABLE 97 NORTH AMERICA: HEAT EXCHANGERS MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                    TABLE 98 NORTH AMERICA: HEAT EXCHANGERS MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                    TABLE 99 NORTH AMERICA: HEAT EXCHANGERS MARKET, BY COUNTRY, 2019–2022 (UNIT)
                    TABLE 100 NORTH AMERICA: HEAT EXCHANGERS MARKET, BY COUNTRY, 2023–2028 (UNIT)
                    TABLE 101 NORTH AMERICA: HEAT EXCHANGERS MARKET, BY MATERIAL, 2019–2022 (USD MILLION)
                    TABLE 102 NORTH AMERICA: HEAT EXCHANGERS MARKET, BY MATERIAL, 2023–2028 (USD MILLION)
                    TABLE 103 NORTH AMERICA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 104 NORTH AMERICA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 105 NORTH AMERICA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                    TABLE 106 NORTH AMERICA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                    TABLE 107 NORTH AMERICA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                    TABLE 108 NORTH AMERICA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                    TABLE 109 NORTH AMERICA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                    TABLE 110 NORTH AMERICA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
           9.3.2 US
                    9.3.2.1 Automotive industry to drive demand for microchannel type heat exchangers
                                TABLE 111 US: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                                TABLE 112 US: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                                TABLE 113 US: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                                TABLE 114 US: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                                TABLE 115 US: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                                TABLE 116 US: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                TABLE 117 US: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                                TABLE 118 US: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
           9.3.3 CANADA
                    9.3.3.1 Growing food & beverage and oil & gas industries to boost market
                                TABLE 119 CANADA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                                TABLE 120 CANADA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                                TABLE 121 CANADA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                                TABLE 122 CANADA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                                TABLE 123 CANADA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                                TABLE 124 CANADA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                TABLE 125 CANADA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                                TABLE 126 CANADA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
           9.3.4 MEXICO
                    9.3.4.1 Demand to be mainly driven by industrial processing and HVACR industries
                                TABLE 127 MEXICO: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                                TABLE 128 MEXICO: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                                TABLE 129 MEXICO: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                                TABLE 130 MEXICO: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                                TABLE 131 MEXICO: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                                TABLE 132 MEXICO: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                TABLE 133 MEXICO: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                                TABLE 134 MEXICO: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
    9.4 EUROPE 
           9.4.1 IMPACT OF RECESSION
                    FIGURE 37 EUROPE: HEAT EXCHANGERS MARKET SNAPSHOT
                    TABLE 135 EUROPE: HEAT EXCHANGERS MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                    TABLE 136 EUROPE: HEAT EXCHANGERS MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                    TABLE 137 EUROPE: HEAT EXCHANGERS MARKET, BY COUNTRY, 2019–2022 (UNIT)
                    TABLE 138 EUROPE: HEAT EXCHANGERS MARKET, BY COUNTRY, 2023–2028 (UNIT)
                    TABLE 139 EUROPE: HEAT EXCHANGERS MARKET, BY MATERIAL, 2019–2022 (USD MILLION)
                    TABLE 140 EUROPE: HEAT EXCHANGERS MARKET, BY MATERIAL, 2023–2028 (USD MILLION)
                    TABLE 141 EUROPE: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 142 EUROPE: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 143 EUROPE: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                    TABLE 144 EUROPE: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                    TABLE 145 EUROPE: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                    TABLE 146 EUROPE: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                    TABLE 147 EUROPE: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                    TABLE 148 EUROPE: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
           9.4.2 GERMANY
                    9.4.2.1 Rising demand for heat exchangers across end-use industries
                                TABLE 149 GERMANY: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                                TABLE 150 GERMANY: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                                TABLE 151 GERMANY: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                                TABLE 152 GERMANY: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                                TABLE 153 GERMANY: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                                TABLE 154 GERMANY: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                TABLE 155 GERMANY: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                                TABLE 156 GERMANY: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
           9.4.3 FRANCE
                    9.4.3.1 Favorable growth of chemical and food & beverage industries to boost market
                                TABLE 157 FRANCE: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                                TABLE 158 FRANCE: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                                TABLE 159 FRANCE: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                                TABLE 160 FRANCE: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                                TABLE 161 FRANCE: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                                TABLE 162 FRANCE: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                TABLE 163 FRANCE: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                                TABLE 164 FRANCE: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
           9.4.4 UK
                    9.4.4.1 Growing demand from commercial construction and automotive industries to boost market
                                TABLE 165 UK: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                                TABLE 166 UK: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                                TABLE 167 UK: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                                TABLE 168 UK: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                                TABLE 169 UK: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                                TABLE 170 UK: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                TABLE 171 UK: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                                TABLE 172 UK: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
           9.4.5 ITALY
                    9.4.5.1 Rising demand from automotive and manufacturing industries to lead to market growth
                                TABLE 173 ITALY: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                                TABLE 174 ITALY: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                                TABLE 175 ITALY: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                                TABLE 176 ITALY: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                                TABLE 177 ITALY: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                                TABLE 178 ITALY: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                TABLE 179 ITALY: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                                TABLE 180 ITALY: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
           9.4.6 RUSSIA
                    9.4.6.1 Growing end-use industries to boost demand for heat exchangers
                                TABLE 181 RUSSIA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                                TABLE 182 RUSSIA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                                TABLE 183 RUSSIA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                                TABLE 184 RUSSIA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                                TABLE 185 RUSSIA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                                TABLE 186 RUSSIA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                TABLE 187 RUSSIA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                                TABLE 188 RUSSIA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
           9.4.7 TURKEY
                    9.4.7.1 Urbanization and industrialization to drive market
                                TABLE 189 TURKEY: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                                TABLE 190 TURKEY: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                                TABLE 191 TURKEY: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                                TABLE 192 TURKEY: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                                TABLE 193 TURKEY: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                                TABLE 194 TURKEY: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                TABLE 195 TURKEY: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                                TABLE 196 TURKEY: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
           9.4.8 REST OF EUROPE
                    TABLE 197 REST OF EUROPE: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 198 REST OF EUROPE: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 199 REST OF EUROPE: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                    TABLE 200 REST OF EUROPE: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                    TABLE 201 REST OF EUROPE: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                    TABLE 202 REST OF EUROPE: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                    TABLE 203 REST OF EUROPE: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                    TABLE 204 REST OF EUROPE: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
    9.5 MIDDLE EAST & AFRICA 
           9.5.1 IMPACT OF RECESSION
                    TABLE 205 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                    TABLE 206 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                    TABLE 207 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY COUNTRY, 2019–2022 (UNIT)
                    TABLE 208 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY COUNTRY, 2023–2028 (UNIT)
                    TABLE 209 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY MATERIAL, 2019–2022 (USD MILLION)
                    TABLE 210 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY MATERIAL, 2023–2028 (USD MILLION)
                    TABLE 211 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 212 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 213 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                    TABLE 214 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                    TABLE 215 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                    TABLE 216 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                    TABLE 217 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                    TABLE 218 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
           9.5.2 SAUDI ARABIA
                    9.5.2.1 Rising commercial construction and HVAC industry to drive market
                                TABLE 219 SAUDI ARABIA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                                TABLE 220 SAUDI ARABIA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                                TABLE 221 SAUDI ARABIA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                                TABLE 222 SAUDI ARABIA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                                TABLE 223 SAUDI ARABIA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                                TABLE 224 SAUDI ARABIA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                TABLE 225 SAUDI ARABIA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                                TABLE 226 SAUDI ARABIA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
           9.5.3 QATAR
                    9.5.3.1 Oil & gas industry to contribute to significant rise in demand for heat exchangers
                                TABLE 227 QATAR: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                                TABLE 228 QATAR: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                                TABLE 229 QATAR: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                                TABLE 230 QATAR: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                                TABLE 231 QATAR: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                                TABLE 232 QATAR: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                TABLE 233 QATAR: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                                TABLE 234 QATAR: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
           9.5.4 REST OF MIDDLE EAST & AFRICA
                    TABLE 235 REST OF MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 236 REST OF MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 237 REST OF MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                    TABLE 238 REST OF MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                    TABLE 239 REST OF MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                    TABLE 240 REST OF MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                    TABLE 241 REST OF MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                    TABLE 242 REST OF MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
    9.6 SOUTH AMERICA 
           9.6.1 IMPACT OF RECESSION
                    TABLE 243 SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                    TABLE 244 SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                    TABLE 245 SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY COUNTRY, 2019–2022 (UNIT)
                    TABLE 246 SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY COUNTRY, 2023–2028 (UNIT)
                    TABLE 247 SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY MATERIAL, 2019–2022 (USD MILLION)
                    TABLE 248 SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY MATERIAL, 2023–2028 (USD MILLION)
                    TABLE 249 SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 250 SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 251 SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                    TABLE 252 SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                    TABLE 253 SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                    TABLE 254 SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                    TABLE 255 SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                    TABLE 256 SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
           9.6.2 BRAZIL
                    9.6.2.1 Flourishing end-use industries to drive market
                                TABLE 257 BRAZIL: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                                TABLE 258 BRAZIL: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                                TABLE 259 BRAZIL: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                                TABLE 260 BRAZIL: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                                TABLE 261 BRAZIL: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                                TABLE 262 BRAZIL: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                TABLE 263 BRAZIL: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                                TABLE 264 BRAZIL: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
           9.6.3 REST OF SOUTH AMERICA
                    TABLE 265 REST OF SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 266 REST OF SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 267 REST OF SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY TYPE, 2019–2022 (UNIT)
                    TABLE 268 REST OF SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY TYPE, 2023–2028 (UNIT)
                    TABLE 269 REST OF SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)
                    TABLE 270 REST OF SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                    TABLE 271 REST OF SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2019–2022 (UNIT)
                    TABLE 272 REST OF SOUTH AMERICA: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY, 2023–2028 (UNIT)
 
10 COMPETITIVE LANDSCAPE (Page No. - 226)
     10.1 OVERVIEW 
     10.2 KEY PLAYERS STRATEGIES / RIGHT TO WIN 
             FIGURE 38 COMPANIES ADOPTED INVESTMENTS & EXPANSIONS AND PRODUCT DEVELOPMENTS AS KEY GROWTH STRATEGIES BETWEEN 2018 AND 2022
     10.3 MARKET EVALUATION FRAMEWORK 
             TABLE 273 MARKET EVALUATION FRAMEWORK
     10.4 REVENUE ANALYSIS 
             TABLE 274 REVENUE ANALYSIS OF KEY COMPANIES (2019–2021)
     10.5 RANKING OF KEY PLAYERS 
             FIGURE 39 RANKING OF TOP FIVE PLAYERS IN HEAT EXCHANGERS MARKET
     10.6 MARKET SHARE ANALYSIS 
             FIGURE 40 HEAT EXCHANGERS MARKET SHARE, BY COMPANY (2022)
             TABLE 275 HEAT EXCHANGERS MARKET: DEGREE OF COMPETITION
     10.7 COMPANY EVALUATION MATRIX (TIER 1) 
             10.7.1 STARS
             10.7.2 PERVASIVE PLAYERS
             10.7.3 EMERGING LEADERS
             10.7.4 PARTICIPANTS
                        FIGURE 41 HEAT EXCHANGERS MARKET: COMPANY EVALUATION MATRIX FOR TIER 1 COMPANIES, 2022
             10.7.5 COMPANY FOOTPRINT
                        10.7.5.1 Company Type Footprint
                                      TABLE 276 OVERALL TYPE FOOTPRINT
                        10.7.5.2 Company Material Footprint
                                      TABLE 277 OVERALL MATERIAL FOOTPRINT
                        10.7.5.3 Company End-Use Industry Footprint
                                      TABLE 278 OVERALL END-USE INDUSTRY FOOTPRINT
                        10.7.5.4 Company Region Footprint
                                      TABLE 279 OVERALL REGION FOOTPRINT
                        10.7.5.5 Company Overall Footprint
                                      TABLE 280 OVERALL COMPANY FOOTPRINT
     10.8 STRENGTH OF PRODUCT PORTFOLIO FOR TIER 1 COMPANIES, 2022 
     10.9 BUSINESS STRATEGY EXCELLENCE FOR TIER 1 COMPANIES, 2022 
     10.10 COMPANY EVALUATION MATRIX (STARTUPS AND SMES) 
             10.10.1 PROGRESSIVE COMPANIES
             10.10.2 RESPONSIVE COMPANIES
             10.10.3 STARTING BLOCKS
             10.10.4 DYNAMIC COMPANIES
                        FIGURE 42 HEAT EXCHANGERS MARKET: COMPANY EVALUATION MATRIX FOR STARTUPS AND SMES, 2022
             10.10.5 COMPETITIVE BENCHMARKING
                        TABLE 281 DETAILED LIST OF COMPANIES
     10.11 STRENGTH OF PRODUCT PORTFOLIO (STARTUPS AND SMES) 
     10.12 BUSINESS STRATEGY EXCELLENCE (STARTUPS AND SMES) 
     10.13 COMPETITIVE SCENARIOS 
             10.13.1 PRODUCT LAUNCHES/DEVELOPMENTS
                        TABLE 282 PRODUCT LAUNCHES/DEVELOPMENTS, 2018–2023
             10.13.2 DEALS
                        TABLE 283 DEALS, 2018–2022
             10.13.3 OTHERS
                        TABLE 284 OTHERS, 2018–2022
 
11 COMPANY PROFILES (Page No. - 249)
     11.1 KEY PLAYERS 
(Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)*
             11.1.1 ALFA LAVAL
                        TABLE 285 ALFA LAVAL: COMPANY OVERVIEW
                        FIGURE 43 ALFA LAVAL: COMPANY SNAPSHOT
                        TABLE 286 ALFA LAVAL: PRODUCT OFFERINGS
                        TABLE 287 ALFA LAVAL: PRODUCT LAUNCHES
                        TABLE 288 ALFA LAVAL: DEALS
                        TABLE 289 ALFA LAVAL: OTHERS
             11.1.2 KELVION HOLDING GMBH
                        TABLE 290 KELVION HOLDING GMBH: COMPANY OVERVIEW
                        TABLE 291 KELVION HOLDING GMBH: PRODUCT OFFERINGS
                        TABLE 292 KELVION HOLDING GMBH: PRODUCT LAUNCHES
                        TABLE 293 KELVION HOLDING GMBH: DEALS
                        TABLE 294 KELVION HOLDING GMBH: OTHERS
             11.1.3 DANFOSS
                        TABLE 295 DANFOSS: COMPANY OVERVIEW
                        FIGURE 44 DANFOSS: COMPANY SNAPSHOT
                        TABLE 296 DANFOSS: PRODUCT OFFERINGS
                        TABLE 297 DANFOSS: PRODUCT LAUNCHES
                        TABLE 298 DANFOSS: OTHERS
             11.1.4 EXCHANGER INDUSTRIES LIMITED
                        TABLE 299 EXCHANGER INDUSTRIES LIMITED: COMPANY OVERVIEW
                        TABLE 300 EXCHANGER INDUSTRIES LIMITED: PRODUCT OFFERINGS
                        TABLE 301 EXCHANGER INDUSTRIES LIMITED: PRODUCT LAUNCHES
                        TABLE 302 EXCHANGER INDUSTRIES LIMITED: DEALS
             11.1.5 MERSEN
                        TABLE 303 MERSEN: COMPANY OVERVIEW
                        FIGURE 45 MERSEN: COMPANY SNAPSHOT
                        TABLE 304 MERSEN: PRODUCT OFFERINGS
                        TABLE 305 MERSEN: DEALS
             11.1.6 API HEAT TRANSFER
                        TABLE 306 API HEAT TRANSFER: COMPANY OVERVIEW
                        TABLE 307 API HEAT TRANSFER: PRODUCT OFFERINGS
             11.1.7 BOYD CORPORATION
                        TABLE 308 BOYD CORPORATION: COMPANY OVERVIEW
                        TABLE 309 BOYD CORPORATION: PRODUCT OFFERINGS
                        TABLE 310 BOYD CORPORATION: DEALS
                        TABLE 311 BOYD CORPORATION: OTHER DEVELOPMENTS
             11.1.8 H. GÜNTNER (UK) LIMITED
                        TABLE 312 H. GÜNTNER (UK) LIMITED: COMPANY OVERVIEW
                        TABLE 313 H. GÜNTNER (UK) LIMITED: PRODUCT OFFERINGS
                        TABLE 314 H. GÜNTNER (UK) LIMITED: DEALS
                        TABLE 315 H. GÜNTNER (UK) LIMITED: OTHERS
             11.1.9 JOHNSON CONTROLS
                        TABLE 316 JOHNSON CONTROLS: COMPANY OVERVIEW
                        FIGURE 46 JOHNSON CONTROLS: COMPANY SNAPSHOT
                        TABLE 317 JOHNSON CONTROLS: PRODUCT OFFERINGS
                        TABLE 318 JOHNSON CONTROLS: PRODUCT LAUNCHES
             11.1.10 XYLEM
                        TABLE 319 XYLEM: COMPANY OVERVIEW
                        FIGURE 47 XYLEM: COMPANY SNAPSHOT
                        TABLE 320 XYLEM: PRODUCT OFFERINGS
             11.1.11 WABTEC CORPORATION
                        TABLE 321 WABTEC CORPORATION: COMPANY OVERVIEW
                        FIGURE 48 WABTEC CORPORATION: COMPANY SNAPSHOT
                        TABLE 322 WABTEC CORPORATION: PRODUCT OFFERINGS
                        TABLE 323 WABTEC CORPORATION: DEALS
                        TABLE 324 WABTEC CORPORATION: OTHERS
             11.1.12 SPX FLOW
                        TABLE 325 SPX FLOW: COMPANY OVERVIEW
                        FIGURE 49 SPX FLOW: COMPANY SNAPSHOT
                        TABLE 326 SPX FLOW: PRODUCT OFFERINGS
             11.1.13 LU-VE S.P.A.
                        TABLE 327 LU-VE S.P.A.: COMPANY OVERVIEW
                        FIGURE 50 LU-VE S.P.A.: COMPANY SNAPSHOT
                        TABLE 328 LU-VE S.P.A.: PRODUCT OFFERINGS
                        TABLE 329 LU-VE S.P.A: DEALS
                        TABLE 330 LU-VE S.P.A: OTHERS
             11.1.14 LENNOX INTERNATIONAL INC.
                        TABLE 331 LENNOX INTERNATIONAL INC.: COMPANY OVERVIEW
                        FIGURE 51 LENNOX INTERNATIONAL INC.: COMPANY SNAPSHOT
                        TABLE 332 LENNOX INTERNATIONAL INC: PRODUCT OFFERINGS
     11.2 OTHER PLAYERS 
             11.2.1 AIR PRODUCTS INC.
                        TABLE 333 AIR PRODUCTS INC.: COMPANY OVERVIEW
             11.2.2 BARRIQUAND TECHNOLOGIES THERMIQUES
                        TABLE 334 BARRIQUAND TECHNOLOGIES THERMIQUES: COMPANY OVERVIEW
             11.2.3 BRASK, INC.
                        TABLE 335 BRASK, INC.: COMPANY OVERVIEW
             11.2.4 CHART INDUSTRIES
                        TABLE 336 CHART INDUSTRIES: COMPANY OVERVIEW
             11.2.5 DOOSAN CORPORATION
                        TABLE 337 DOOSAN CORPORATION: COMPANY OVERVIEW
             11.2.6 FUNKE HEAT EXCHANGER APPARATEBAU
                        TABLE 338 FUNKE HEAT EXCHANGER APPARATEBAU: COMPANY OVERVIEW
             11.2.7 HISAKA WORKS, LTD.
                        TABLE 339 HISAKA WORKS, LTD.: COMPANY OVERVIEW
             11.2.8 HINDUSTAN DORR-OLIVER LTD.
                        TABLE 340 HINDUSTAN DORR-OLIVER LTD.: COMPANY OVERVIEW
             11.2.9 KOCH HEAT TRANSFER COMPANY
                        TABLE 341 KOCH HEAT TRANSFER COMPANY: COMPANY OVERVIEW
             11.2.10 RADIANT HEAT EXCHANGER PVT. LTD.
                        TABLE 342 RADIANT HEAT EXCHANGER PVT. LTD.: COMPANY OVERVIEW
             11.2.11 SWEP INTERNATIONAL AB
                        TABLE 343 SWEP INTERNATIONAL AB: COMPANY OVERVIEW
             11.2.12 THERMAX LIMITED
                        TABLE 344 THERMAX LIMITED: COMPANY OVERVIEW
             11.2.13 SIERRA S.P.A.
                        TABLE 345 SIERRA S.P.A.: COMPANY OVERVIEW
             11.2.14 VAHTERUS OY
                        TABLE 346 VAHTERUS OY: COMPANY OVERVIEW
 
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)* might not be captured in case of unlisted companies.
 
12 APPENDIX (Page No. - 313)
     12.1 DISCUSSION GUIDE 
     12.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     12.3 CUSTOMIZATION OPTIONS 
     12.4 RELATED REPORTS 
     12.5 AUTHOR DETAILS 

The study involved four major activities in estimating the current market size for heat exchangers. Exhaustive secondary research was conducted to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakdown and data triangulation methodologies were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as Factiva, Zauba, Hoovers, and Bloomberg BusinessWeek were referred to for identifying and collecting information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, steel associations, heat exchangers association, regulatory bodies, and databases.

Secondary research has been used to obtain key information about the value chain of the industry, monetary chain of the market, the total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, and regional markets. It was also used to obtain information about the key developments from a market-oriented perspective.

Primary Research

The heat exchangers market comprises several stakeholders, such as raw material suppliers, distributors of heat exchangers, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market consists of various industries such as chemical, energy, HVACR, power, pulp & paper, and food & beverages. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Primary interviews were conducted to gather insights such as market statistics, data of revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, raw material, type, end-use industries, and region. Stakeholders from the demand side, such as CIOs, CTOs, and CSOs were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of heat exchanger and future outlook of their business which will affect the overall market.

Following is the breakdown of primary respondents

Heat Exchangers Market Size, and Share

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Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the heat exchangers market. These methods were also used extensively to determine the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and markets were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value and volume, were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Heat Exchanger Market: Bottum-Up Approach

Heat Exchangers Market Size, and Share

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Note: All the shares are based on the global market size.

Source: Secondary Research, Interviews with Experts, and MarketsandMarkets Analysis

Heat Exchanger Market: Top Down Approach

Heat Exchangers Market Size, and Share

Data Triangulation

After arriving at the overall market size—using the market size estimation process explained above—the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply of heat exchangers and their applications.

Market Definition

A heat exchanger is a device that transfers heat from one fluid to another fluid without the two fluids coming into direct contact. The heat exchanger is based on the principle of heat transfer, which involves the movement of thermal energy from a high-temperature fluid to a low-temperature fluid. The heat exchanger market is influenced by factors such as technological advancements, energy efficiency regulations, environmental concerns, and industry-specific demands. The Heat exchangers are commonly used in various industries, including HVAC systems, refrigeration, power generation, chemical processing, energy, food and beverage, and others. Heat exchangers play a crucial role in heat management and energy conservation by facilitating the efficient transfer of thermal energy between fluids, contributing to improved system performance and sustainability in various industrial processes.

Key Stakeholders

  • Senior Management
  • End User
  • Finance/Procurement Department
  • R&D Department

Objectives of the Study:

  • To define, describe, and forecast the heat exchangers market, in terms of value.
  • To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the market growth
  • To analyze and forecast the market by type, material, and end-use industry.
  • To forecast the size of the market for five regions, namely, APAC, Europe, North America, South America, and the Middle East & Africa along with their key countries
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and contribution to the total market
  • To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders.
  • To analyze competitive developments, such as new product launch, acquisition, and expansion undertaken in the market
  • To strategically profile key players and comprehensively analyze their market ranking and core competencies.

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

Regional Analysis:

  • Country-level analysis of the heat exchangers market

Company Information:

  • Detailed analysis and profiling of additional market players
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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May, 2023
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