Heat Exchangers Market

Heat Exchangers Market by Type (Shell & Tube, Plate & Frame, Air Cooled), Raw Material (Steel, Copper, Aluminum), Application (Chemical, Energy, HVACR, Food & Beverage, Power Generation, Pulp & Paper), and Region - Global Forecast to 2026

Report Code: CH 3063 Dec, 2021, by marketsandmarkets.com

[243 Pages Report] The global heat exchangers market size is projected to reach USD 19.9 billion by 2026, at a CAGR of 5.0% between 2021 and 2026. Europe accounted for the largest market share in 2020 and accounted for 30.5% of the global market. North America accounted for the second-largest share of 24.9% of the global heat exchangers market in 2020 due to the presence of large chemical, petrochemical, and oil & gas industries in the region. The growth of the heat exchangers market depends on the presence and growth of the specific end-use industries in each of the regions.  Various types of heat exchangers, such as shell & tube and plate & frame, are commonly available in the market and are used in various industries, including chemical, petrochemical and oil & gas, food & beverage, HVACR, power generation, and paper & pulp.

Some of the primary drivers for the growth of the heat exchangers market are the significant rise in HVACR deployment and other industrial activities, surging energy prices, and rapid industrial expansion in the developing markets of APAC. However, lack of awareness about buildings’ energy efficiency and sluggish growth in demand from Europe and North America are the major factors hindering the demand for heat exchangers.

Heat Exchangers Market

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COVID-19 impact on Global Heat Exchangers Market

The COVID-19 pandemic has affected people in more than 190 countries across the globe. Many countries were under strict lockdowns, which forced several sectors to shut down their operations. Due to nationwide lockdowns, infrastructure activities had come to a halt. The global impacts of the coronavirus disease 2019 (COVID-19) affected the heat exchangers market in 2020. The outbreak of COVID-19 has affected many aspects, like flight cancellations, travel bans and quarantines, restaurants closed, all indoor events restricted, emergencies declared in many countries, massive slowing of the supply chain, stock market unpredictability, falling business assurance, growing panic among the population, and uncertainty about the future. Heat exchanger manufacturers are facing sudden challenges caused by the crisis, owing to halted manufacturing due to lockdown restrictions, limited availability of workforces, supply chain disruptions, country-wide lockdowns, and fluctuation in raw materials prices. However, stimulus package by various government globally has helped the countries to support the declining economy, which is also expected to support various end-use industries and lead to economic recovery post the COVID-19 crisis.

Heat Exchanger Market Dynamics

Driver: Growing industrialization in developing economies will drive the market

Rapid industrialization in developing economies of APAC such as China and India, owing to the, increasing investments, raw material prices, and low-cost labor are expected to boost the demand for heat exchangers. Manufacturing, commercial, and industrial projects in the region have also contributed to the overall expansion of the global heat exchangers market.Increased demand from the chemical, HVACR, petrochemical, and oil & gas industries, and government initiatives for the development of thermal and solar energy in countries such as Japan and India are increasing the demand for heat exchangers. Moreover, the increased demand for petrochemical products is expected to have a positive impact on the heat exchangers market.

Restrain: Fluctuation in raw material prices to impact the profitability of heat exchanger manufacturers

Heat exchangers manufacturers are exposed to raw material price fluctuations of copper, aluminum, steel, and other metals. The volatility in raw material prices is dependent on various factors such economic conditions, exchange rates, and supply conditions, which create an adverse effect on manufacturers. Price fluctuations lead to resulting in delay or cancelation of large capital projects, which hamper the growth of heat exchanger s market. However, to manage the risk associated with pricing fluctuation, pricing trends are monitored to slightly overcome the risk related to pricing.

Opportunity: Rising nuclear power plants to drive the heat exchangers market

Heat exchangers has a significant impact on the overall efficiency and power output of a nuclear power plant. The increased use of heat exchangers in nuclear reactors, upgradation of existing nuclear plants, and proposed new nuclear power plant projects are the key opportunities for the players in the heat exchangers market. According to Statista, as of 2020, there are 443 nuclear reactors in operation in 32 countries globally and over 60 reactors under construction, which is equivalent to 29% of the existing capacity globally, creating future opportunities for heat exchangers market.

Steel  raw material segment to dominate  the heat exchangers market in 2020

Steel segment dominates the heat exchanger market. Stainless steel is ideally used for the construction of heat exchangers due to its high strength & durability, and resistance against corrosion. The most preferred steel grades by manufacturers are mild steel and stainless steel. Other non-metals such as Titanium, are also used in the chemical industry for aggressive media such as nitric acid, hydrochloric acid, phosphoric acid, and chlorine, with application in shipbuilding and marine industry.

Chemical industry dominates the heat exchanger market in 2020

Chemical industry to dominates the heat exchangers market. Heat exchangers have use in various end-use industries such as chemical, energy, HVACR, food & beverage, power generation, paper & pulp, and others. Heat exchangers market is driven by the rapidly expanding chemical industry in China, India, and the US. Moreover, the high growth in this segment is attributed to the growing consumption of petroleum products and increased exports of crude oil and natural gas. The energy industry is projected to be the fastest-growing end user of heat exchangers at a CAGR of 5.6% between 2021 and 2026. Rising natural gas and crude oil extraction activities across North America and the Middle East & Africa are also one of the major drivers of the heat exchangers market.

Europe is expected to account for the largest share of the global market during the forecast period.

Heat Exchangers Market by Region

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Europe is the largest market for heat exchangers in 2020, owning to established manufacturing, automotive, and industrial sector. Moreover, in 2020, Europe has set up zero-emission regulations for commercial and residential buildings. These energy efficiency regulations on new residential and commercial infrastructure, focus on less carbon-intensive processes, and demand for sustainable energy consumption will also increase the demand for heat exchangers during the forecast period. Furthermore, APAC is expected to witness high growth during the forecast period owing to rising demand for heat exchanger from chemical industry in developing economies of India and China which is expected to boost the demand for heat exchangers in APAC during the forecast period.

Key Market Players

The heat exchangers market comprises major players such as  ALFA LAVAL (Sweden), Kelvion Holding GmbH(Germany), Exchanger  Industries Limited (Canada), Mersen (France),  Danfoss (Denmark), API Heat Transfer (US), Boyd Corporation (US), H. Gόntner (UK) Limited (Germany), Johnson Controls (Ireland), XYLEM (US), and others.

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Scope of the Report

Report Metric

Details

Years considered for the study

2019–2026

Base year

2020

Forecast period

2021–2026

Units considered

Value (USD Billion, and Million)

Segments

By Material, Type, End-Use Industries, and Region

Regions

North America, APAC, Europe, South America, and the Middle East & Africa

Companies

ALFA LAVAL (Sweden), Kelvion Holding GmbH(Germany), Exchanger  Industries Limited (Canada), Mersen (France), and  Danfoss (Denmark). Total 25 major players covered

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

On the basis of material, the heat exchanger market has been segmented as follows:

  • Steel
  • Non-Steel

On the basis of type, the heat exchanger market has been segmented as follows:

  • Shell & Tube
  • Plate & Frame
  • Air-Cooled
  • Others

On the basis of end-use industries, the heat exchanger market has been segmented as follows:

  • Chemical
  • Energy
  • HVACR
  • Food & Beverages
  • Power Generation
  • Pulp & Paper
  • Others

On the basis of region, the heat exchanger market has been segmented as follows:

  • APAC
  • Europe
  • North America
  • South America
  • The Middle East & Africa

Recent Developments

  • In 2021, ALFA LAVAL established a new facility in San Bonifacio, Italy, to produce brazed heat exchangers (BHE). The new facility will have additional capacity to meet the growing customer demand for heat exchangers. Moreover, the facility has an advanced research lab for refrigerant research and training centers. The company aims at increasing the production capacity and working in close collaborations with its customers.
  • 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. Kelvion focuses on expanding its production capacities and reducing costs to improve its customer experience and product technology.
  • In 2021, BOYD Corporation inaugurated a new production facility in Juarez, Mexico, to expand its business operations in North America. The company will manufacture thermal systems and diversified engineered material in an automated facility powered by renewable energy. The 40, 000 sq. meter facility will be quality management system certified. The expansion strategy will provide additional capacity to manufacture highly complex liquid cooling systems, liquid cold plates, and advanced rotary die-cutting capabilities to cater North American market.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 28)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
    1.3 MARKET SCOPE
           FIGURE 1 HEAT EXCHANGERS MARKET SEGMENTATION
           1.3.1 REGIONS COVERED
           1.3.2 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS
    1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 32)
    2.1 RESEARCH DATA
           FIGURE 2 HEAT EXCHANGERS MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 List of major secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Breakdown of primary interviews
    2.2 PRIMARIES
           2.2.1 HEAT EXCHANGERS
                    2.2.1.1 Key industry insights
    2.3 MARKET SIZE ESTIMATION
           FIGURE 3 HEAT EXCHANGERS MARKET SIZE ESTIMATION
           2.3.1 TOP-DOWN APPROACH
                    2.3.1.1 Approach for arriving at market size using top-down analysis
                               FIGURE 4 TOP-DOWN APPROACH
           2.3.2 BOTTOM-UP APPROACH
                    2.3.2.1 Approach for arriving at market size using bottom-up analysis
                               FIGURE 5 BOTTOM-UP APPROACH
                               FIGURE 6 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH (DEMAND SIDE)
                               FIGURE 7 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH (SUPPLY SIDE)
    2.4 DATA TRIANGULATION
           FIGURE 8 HEAT EXCHANGERS MARKET: DATA TRIANGULATION
    2.5 ASSUMPTIONS
    2.6 LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 43)
    FIGURE 9 SHELL & TUBE TYPE TO ACCOUNT FOR THE LARGEST SHARE OF THE OVERALL HEAT EXCHANGERS MARKET
    FIGURE 10 ENERGY TO BE THE FASTEST-GROWING END-USE INDUSTRY OF HEAT EXCHANGERS DURING THE FORECAST PERIOD
    FIGURE 11 APAC TO BE FASTEST-GROWING MARKET DURING THE FORECAST PERIOD

4 PREMIUM INSIGHTS (Page No. - 46)
    4.1 EMERGING ECONOMIES TO WITNESS A RELATIVELY HIGHER DEMAND FOR HEAT EXCHANGERS
           FIGURE 12 EMERGING ECONOMIES TO OFFER ATTRACTIVE OPPORTUNITIES IN THE HEAT EXCHANGERS MARKET DURING THE FORECAST PERIOD
    4.2 APAC: HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY AND COUNTRY
           FIGURE 13 CHINA WAS THE LARGEST MARKET FOR HEAT EXCHANGERS IN APAC IN 2020
    4.3 HEAT EXCHANGERS MARKET, BY TYPE
           FIGURE 14 SHELL & TUBE TYPE SEGMENT TO LEAD THE HEAT EXCHANGERS MARKET DURING THE FORECAST PERIOD
    4.4 HEAT EXCHANGERS MARKET, BY RAW MATERIAL
           FIGURE 15 TITANIUM RAW MATERIAL SEGMENT TO WITNESS THE HIGHEST DEMAND IN THE HEAT EXCHANGERS MARKET
    4.5 HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY
           FIGURE 16 CHEMICALS IS PROJECTED TO BE THE LARGEST END-USE INDUSTRY FOR THE GLOBAL HEAT EXCHANGERS MARKET BY 2026
    4.6 HEAT EXCHANGERS MARKET, BY COUNTRY
           FIGURE 17 HEAT EXCHANGERS MARKET IN INDIA TO GROW AT THE HIGHEST CAGR FROM 2021 TO 2026

5 MARKET OVERVIEW (Page No. - 50)
    5.1 INTRODUCTION
           FIGURE 18 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN THE HEAT EXCHANGERS MARKET
           5.1.1 DRIVERS
                    5.1.1.1 Growing industrialization in developing economies will drive the market
                    5.1.1.2 Rising energy efficiency regulations and stringent emission standards
                    5.1.1.3 Rising demand for HVACR equipment for the commercial construction industry to drive the market
                    5.1.1.4 Growing demand for sustainable, low energy consumption, and cost-effective heat exchangers to fuel the market growth
           5.1.2 RESTRAINTS
                    5.1.2.1 Fluctuation in raw material prices to impact the profitability of heat exchanger manufacturers
                    5.1.2.2 Lack of awareness about buildings’ energy efficiency
                    5.1.2.3 Sluggish growth of heat exchangers market in developed economies
           5.1.3 OPPORTUNITIES
                    5.1.3.1 Rising nuclear power plants to drive the heat exchangers market
                    5.1.3.2 Growing aftermarket to drive the heat exchangers market
           5.1.4 CHALLENGES
                    5.1.4.1 Regulations pertaining to fluorinated greenhouse gases
                    5.1.4.2 Capital-intensive market
    5.2 PORTER’S FIVE FORCES ANALYSIS
           FIGURE 19 PORTER’S FIVE FORCES ANALYSIS OF THE HEAT EXCHANGERS MARKET
           5.2.1 THREAT OF SUBSTITUTES
           5.2.2 BARGAINING POWER OF SUPPLIERS
           5.2.3 THREAT OF NEW ENTRANTS
           5.2.4 BARGAINING POWER OF BUYERS
           5.2.5 INTENSITY OF COMPETITIVE RIVALRY
    5.3 VALUE CHAIN ANALYSIS
           FIGURE 20 VALUE CHAIN ANALYSIS
    5.4 MACROECONOMIC INDICATORS
           5.4.1 GDP TRENDS AND FORECASTS
                    TABLE 1 PROJECTED GDP PERCENTAGE CHANGE OF KEY COUNTRIES, 2018–2021
           5.4.2 OPERATIONAL DATA
           5.4.3 THE CHEMICAL INDUSTRY
                    FIGURE 21 CHEMICAL SALES, BY COUNTRY (2018 VS. 2019)
           5.4.4 POWER GENERATION STATISTICS
                    TABLE 2 POWER GENERATED IN KEY COUNTRIES, 2019 VS. 2020 (TWH)
    5.5 TARIFF POLICIES & REGULATIONS
           5.5.1 NORTH AMERICA
           5.5.2 EUROPE
           5.5.3 APAC
           5.5.4 THE KIGALI AMENDMENT TO THE MONTREAL PROTOCOL
    5.6 CASE STUDY ANALYSIS
           5.6.1 INSTALLATION OF HEAT EXCHANGER FOR SKIMMED MILK CONCENTRATE AND CREAM FOR A LEADING AUSTRALIAN COMPANY BY EXCHANGER INDUSTRIES LIMITED
           5.6.2 REDUCING THE CHILLING TIME TO INCREASE THE PRODUCTION OF COLORADO-BASED SOUP AND SAUCE MANUFACTURER
    5.7 TECHNOLOGY ANALYSIS
           5.7.1 COMPUTATIONAL FLUID DYNAMICS TO ANALYZE THE HEAT TRANSFER PROCESS
           5.7.2 EQPIPE TECHNOLOGY FOR ENVIRONMENTALLY FRIENDLY REFRIGERANTS
    5.8 ECOSYSTEM
           FIGURE 22 THE HEAT EXCHANGERS ECOSYSTEM
           5.8.1 HEAT EXCHANGERS MARKET: ECOSYSTEM
    5.9 IMPACT OF COVID-19 ON THE HEAT EXCHANGERS MARKET
           5.9.1 COVID-19
           5.9.2 CONFIRMED CASES AND DEATHS, BY GEOGRAPHY
                    FIGURE 23 PACE OF GLOBAL PROPAGATION OF COVID-19 IS UNPRECEDENTED
           5.9.3 COVID–19 IMPACT ON HVACR & HEAT EXCHANGERS MARKET
    5.10 HEAT EXCHANGERS PATENT ANALYSIS
           5.10.1 INTRODUCTION
           5.10.2 METHODOLOGY
                    5.10.2.1 Document Type
                                FIGURE 24 GRANTED PATENT VS. PATENT APPLICATION
                                FIGURE 25 PUBLICATION TRENDS - LAST 10 YEARS
                    5.10.2.2 Insight
           5.10.3 LEGAL STATUS OF THE PATENTS
                     FIGURE 26 JURISDICTION ANALYSIS
           5.10.4 TOP COMPANIES/APPLICANTS
                    FIGURE 27 TOP 10 COMPANIES/APPLICANTS WITH THE HIGHEST NUMBER OF PATENTS
                    5.10.4.1 List of Patents by Mitsubishi Electric Corporation
                    5.10.4.2 List of Patents by Valeo Systemes Thermiques
                    5.10.4.3 List of Patents by Denso Corp.
           5.10.5 TOP 10 PATENT OWNERS (US) IN THE LAST 10 Y EARS

6 HEAT EXCHANGERS MARKET, BY RAW MATERIAL (Page No. - 81)
    6.1 INTRODUCTION
           FIGURE 28 STEEL TO DOMINATE THE HEAT EXCHANGERS MARKET TILL 2026
           TABLE 3 HEAT EXCHANGERS MARKET SIZE, BY RAW MATERIAL, 2017–2020 (USD MILLION)
           TABLE 4 HEAT EXCHANGERS MARKET SIZE, BY RAW MATERIAL, 2021–2026 (USD MILLION)
           6.1.1 STEEL
           6.1.2 CARBON STEEL
           6.1.3 STAINLESS STEEL
                    FIGURE 29 STEEL PRICE ANALYSIS
           6.1.4 NON-STEEL
           6.1.5 COPPER
           6.1.6 ALUMINUM
           6.1.7 TITANIUM
           6.1.8 NICKEL
           6.1.9 PLASTIC

7 HEAT EXCHANGERS MARKET, BY TYPE (Page No. - 86)
    7.1 INTRODUCTION
           FIGURE 30 SHELL & TUBE HEAT EXCHANGERS ACCOUNTED FOR THE LARGEST MARKET SHARE IN 2021
           TABLE 5 HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
           TABLE 6 HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
    7.2 SHELL & TUBE HEAT EXCHANGERS
           7.2.1 TUBULAR HEAT EXCHANGERS ARE MORE EFFICIENT THAN STANDARD SHELL & TUBE HEAT EXCHANGERS
           7.2.2 FIXED TUBE HEAT EXCHANGERS
           7.2.3 U-TUBE HEAT EXCHANGERS
           7.2.4 FLOATING HEAD HEAT EXCHANGERS
    7.3 PLATE & FRAME HEAT EXCHANGERS
           7.3.1 GASKETED PLATE & FRAME HEAT EXCHANGERS
                    7.3.1.1 Gasketed plate & frame heat exchangers have highest share in plate & frame heat exchangers segment
           7.3.2 WELDED PLATE & FRAME HEAT EXCHANGERS
                    7.3.2.1 Welded plate & frame heat exchangers mostly used due to their compact size, modularity, and flexibility
           7.3.3 BRAZED HEAT EXCHANGERS
                    7.3.3.1 Brazed heat exchangers have high demand in HVACR and power industry
    7.4 AIR COOLED HEAT EXCHANGERS
           7.4.1 AIR COOLED HEAT EXCHANGERS PRIMARILY USED IN CHEMICAL AND ENERGY INDUSTRIES
                    7.4.1.1 Forced draft heat exchangers
                    7.4.1.2 Induced draft heat exchangers
    7.5 OTHERS
           7.5.1 EXTENDED SURFACE HEAT EXCHANGERS
           7.5.2 REGENERATIVE HEAT EXCHANGERS

8 HEAT EXCHANGERS MARKET, BY END-USE INDUSTRY (Page No. - 94)
    8.1 INTRODUCTION
           FIGURE 31 CHEMICAL INDUSTRY TO DOMINATE THE HEAT EXCHANGERS MARKET TILL 2026
           TABLE 7 HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
           TABLE 8 HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
    8.2 CHEMICAL
           8.2.1 CHEMICAL INDUSTRY TO DOMINATE HEAT EXCHANGERS MARKET
           8.2.2 BASE CHEMICALS
           8.2.3 INTERMEDIATE CHEMICALS
           8.2.4 SPECIALTY CHEMICALS
    8.3 ENERGY
           8.3.1 ENERGY SECTOR IS FASTEST-GROWING END-USER OF HEAT EXCHANGERS
           8.3.2 PETROCHEMICALS
           8.3.3 OIL & GAS
    8.4 HVAC AND REFRIGERATION
           8.4.1 DISTRICT HEATING AND COOLING
           8.4.2 AIR-CONDITIONING
           8.4.3 COMMERCIAL REFRIGERATION
           8.4.4 INDUSTRIAL REFRIGERATION
    8.5 FOOD & BEVERAGE
           8.5.1 RISING DEMAND FOR PROCESSED FOOD IN FOOD & BEVERAGE INDUSTRY
           8.5.2 PROCESSED FOOD
           8.5.3 DAIRY
           8.5.4 SUGAR AND ETHANOL PRODUCTION
           8.5.5 OTHERS
    8.6 POWER GENERATION
           8.6.1 EFFORTS TO INCREASE ENERGY OUTPUT OF POWER PLANTS TO DRIVE THE USAGE OF HEAT EXCHANGERS IN POWER INDUSTRY
           8.6.2 RENEWABLE
           8.6.3 NON-RENEWABLE
    8.7 PULP & PAPER
           8.7.1 HEAT EXCHANGERS USED IN PULP & PAPER INDUSTRY FOR WASTEWATER TREATMENT AND HEAT RECOVERY
    8.8 OTHERS
           8.8.1 METALLURGICAL
           8.8.2 WASTEWATER TREATMENT
           8.8.3 MINING

9 HEAT EXCHANGERS MARKET, BY REGION (Page No. - 103)
    9.1 INTRODUCTION
           FIGURE 32 HEAT EXCHANGERS MARKET IN INDIA TO GROW AT THE HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 9 HEAT EXCHANGERS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
           TABLE 10 HEAT EXCHANGERS MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
    9.2 APAC
           FIGURE 33 APAC: HEAT EXCHANGERS MARKET SNAPSHOT
           TABLE 11 APAC: HEAT EXCHANGERS MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
           TABLE 12 APAC: HEAT EXCHANGERS MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
           TABLE 13 APAC: HEAT EXCHANGERS MARKET SIZE, BY RAW MATERIAL, 2017–2020 (USD MILLION)
           TABLE 14 APAC: HEAT EXCHANGERS MARKET SIZE, BY RAW MATERIAL, 2021–2026 (USD MILLION)
           TABLE 15 APAC: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
           TABLE 16 APAC: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
           TABLE 17 APAC: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
           TABLE 18 APAC: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           9.2.1 CHINA
                    9.2.1.1 Rapid industrialization and flourishing end-use industries to boost demand for heat exchangers
                               TABLE 19 CHINA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
                               TABLE 20 CHINA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                               TABLE 21 CHINA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                               TABLE 22 CHINA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           9.2.2 JAPAN
                    9.2.2.1 Nuclear power, construction, and food & beverage industries to drive heat exchangers market in Japan
                               TABLE 23 JAPAN: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
                               TABLE 24 JAPAN: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                               TABLE 25 JAPAN: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2026 (USD MILLION)
                               TABLE 26 JAPAN: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           9.2.3 INDIA
                    9.2.3.1 Rapid industrialization in energy and power generation end-use industries to boost demand for heat exchangers
                               TABLE 27 INDIA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
                               TABLE 28 INDIA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                               TABLE 29 INDIA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                               TABLE 30 INDIA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           9.2.4 SOUTH KOREA
                    9.2.4.1 Rising commercial construction and demand for HVACR equipment to boost heat exchangers market
                               TABLE 31 SOUTH KOREA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
                               TABLE 32 SOUTH KOREA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                               TABLE 33 SOUTH KOREA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                               TABLE 34 SOUTH KOREA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           9.2.5 REST OF APAC
                    TABLE 35 REST OF APAC: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
                    TABLE 36 REST OF APAC: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                    TABLE 37 REST OF APAC: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 38 REST OF APAC: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
    9.3 NORTH AMERICA
           TABLE 39 NORTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
           TABLE 40 NORTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
           TABLE 41 NORTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY RAW MATERIAL, 2017–2020 (USD MILLION)
           TABLE 42 NORTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY RAW MATERIAL, 2021–2026 (USD MILLION)
           TABLE 43 NORTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
           TABLE 44 NORTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
           TABLE 45 NORTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
           TABLE 46 NORTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           9.3.1 US
                    9.3.1.1 Automotive industry to drive the demand for microchannel type of heat exchangers
                               TABLE 47 US: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
                               TABLE 48 US: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                               TABLE 49 US: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                               TABLE 50 US: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           9.3.2 CANADA
                    9.3.2.1 Growing food & beverages and oil & gas industries to boost demand for heat exchangers
                               TABLE 51 CANADA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
                               TABLE 52 CANADA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                               TABLE 53 CANADA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                               TABLE 54 CANADA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           9.3.3 MEXICO
                    9.3.3.1 Heat exchangers demand in Mexico to be mainly driven by industrial processing and HVACR industry
                               TABLE 55 MEXICO: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
                               TABLE 56 MEXICO: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                               TABLE 57 MEXICO: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                               TABLE 58 MEXICO: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
    9.4 EUROPE
           FIGURE 34 EUROPE: HEAT EXCHANGERS MARKET SNAPSHOT
           TABLE 59 EUROPE: HEAT EXCHANGERS MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
           TABLE 60 EUROPE: HEAT EXCHANGERS MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
           TABLE 61 EUROPE: HEAT EXCHANGERS MARKET SIZE, BY RAW MATERIAL, 2017–2020 (USD MILLION)
           TABLE 62 EUROPE: HEAT EXCHANGERS MARKET SIZE, BY RAW MATERIAL, 2021–2026 (USD MILLION)
           TABLE 63 EUROPE: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
           TABLE 64 EUROPE: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
           TABLE 65 EUROPE: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
           TABLE 66 EUROPE: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           9.4.1 GERMANY
                    9.4.1.1 Rising demand for heat exchangers across various end-use industries
                               TABLE 67 GERMANY: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
                               TABLE 68 GERMANY: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                               TABLE 69 GERMANY: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                               TABLE 70 GERMANY: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           9.4.2 FRANCE
                    9.4.2.1 Favorable growth in chemicals and food & beverages industry to boost heat exchangers market
                               TABLE 71 FRANCE: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
                               TABLE 72 FRANCE: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                               TABLE 73 FRANCE: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                               TABLE 74 FRANCE: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           9.4.3 UK
                    9.4.3.1 Growing demand from commercial construction and automotive industry to boost market in UK
                               TABLE 75 UK: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
                               TABLE 76 UK: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                               TABLE 77 UK: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                               TABLE 78 UK: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           9.4.4 ITALY
                    9.4.4.1 Rising demand from automotive and manufacturing industries to favor market growth for heat exchangers
                               TABLE 79 ITALY: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
                               TABLE 80 ITALY: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                               TABLE 81 ITALY: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                               TABLE 82 ITALY: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           9.4.5 RUSSIA
                    9.4.5.1 Growing end-use industries to boost demand for heat exchangers
                               TABLE 83 RUSSIA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
                               TABLE 84 RUSSIA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                               TABLE 85 RUSSIA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                               TABLE 86 RUSSIA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           9.4.6 TURKEY
                    9.4.6.1 Urbanization and industrialization trends to drive market in country
                               TABLE 87 TURKEY: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
                               TABLE 88 TURKEY: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                               TABLE 89 TURKEY: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                               TABLE 90 TURKEY: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           9.4.7 REST OF EUROPE
                    TABLE 91 REST OF EUROPE: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
                    TABLE 92 REST OF EUROPE: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                    TABLE 93 REST OF EUROPE: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 94 REST OF EUROPE: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
    9.5 MIDDLE EAST & AFRICA
           TABLE 95 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
           TABLE 96 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
           TABLE 97 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET SIZE, BY RAW MATERIAL, 2017–2020 (USD MILLION)
           TABLE 98 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET SIZE, BY RAW MATERIAL, 2021–2026 (USD MILLION)
           TABLE 99 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
           TABLE 100 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
           TABLE 101 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
           TABLE 102 MIDDLE EAST & AFRICA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           9.5.1 SAUDI ARABIA
                    9.5.1.1 Rising commercial construction and HVAC industry to contribute to a significant rise in demand for heat exchangers
                               TABLE 103 SAUDI ARABIA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
                               TABLE 104 SAUDI ARABIA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                               TABLE 105 SAUDI ARABIA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                               TABLE 106 SAUDI ARABIA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           9.5.2 QATAR
                    9.5.2.1 Oil & gas industry to contribute to a significant rise in demand for heat exchangers
                               TABLE 107 QATAR: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
                               TABLE 108 QATAR: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                               TABLE 109 QATAR: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                               TABLE 110 QATAR: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           9.5.3 REST OF MIDDLE EAST & AFRICA
           TABLE 111 REST OF MIDDLE EAST & ARICA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
           TABLE 112 REST OF MIDDLE EAST & ARICA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
           TABLE 113 REST OF MIDDLE EAST & ARICA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
           TABLE 114 REST OF MIDDLE EAST & ARICA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
    9.6 SOUTH AMERICA
           TABLE 115 SOUTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
           TABLE 116 SOUTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
           TABLE 117 SOUTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY RAW MATERIAL, 2017–2020 (USD MILLION)
           TABLE 118 SOUTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY MATERIAL, 2021–2026 (USD MILLION)
           TABLE 119 SOUTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
           TABLE 120 SOUTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
           TABLE 121 SOUTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
           TABLE 122 SOUTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           9.6.1 BRAZIL
                    9.6.1.1 Flourishing end-use industries to drive the heat exchangers market
                               TABLE 123 BRAZIL: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
                               TABLE 124 BRAZIL: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                               TABLE 125 BRAZIL: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                               TABLE 126 BRAZIL: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)
           9.6.2 REST OF SOUTH AMERICA
                    TABLE 127 REST OF SOUTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
                    TABLE 128 REST OF SOUTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
                    TABLE 129 REST OF SOUTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 130 REST OF SOUTH AMERICA: HEAT EXCHANGERS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION)

10 COMPETITIVE LANDSCAPE (Page No. - 160)
     10.1 OVERVIEW
             FIGURE 35 COMPANIES ADOPTED EXPANSIONS AS THE KEY GROWTH STRATEGY BETWEEN 2017 AND 2021
     10.2 MARKET EVALUATION FRAMEWORK
             TABLE 131 NUMBER OF RECENT DEVELOPMENTS OVER THE PAST FIVE YEARS
     10.3 MARKET SHARE ANALYSIS
             FIGURE 36 HEAT EXCHANGERS MARKET SHARE, BY COMPANY (2020)
             TABLE 132 HEAT EXCHANGERS MARKET: DEGREE OF COMPETITION
     10.4 RANKING ANALYSIS OF KEY MARKET PLAYERS, 2020
           FIGURE 37 RANKING OF TOP FIVE PLAYERS IN THE HEAT EXCHANGERS MARKET, 2020
     10.5 COMPANY EVALUATION MATRIX, 2021 (TIER 1)
             10.5.1 STAR
             10.5.2 EMERGING LEADER
             10.5.3 PERVASIVE
             10.5.4 PARTICIPANT
                        FIGURE 38 HEAT EXCHANGERS MARKET: (GLOBAL) COMPANY EVALUATION MATRIX, 2021
                        FIGURE 39 COMPANY PRODUCT FOOTPRINT (TIER 1)
                        FIGURE 40 BUSINESS STRATEGY EXCELLENCE (TIER 1)
     10.6 OTHER KEY PLAYERS: EVALUATION MATRIX
             10.6.1 PROGRESSIVE COMPANY
             10.6.2 RESPONSIVE COMPANY
             10.6.3 STARTING BLOCK
                        FIGURE 41 HEAT EXCHANGERS MARKET: OTHER KEY PLAYERS, 2020
                        FIGURE 42 STRENGTH OF PRODUCT PORTFOLIO (OTHER KEY PLAYERS)
                        FIGURE 43 BUSINESS STRATEGY EXCELLENCE (OTHER KEY PLAYERS)
     10.7 COMPANY FOOTPRINT
             TABLE 133 OVERALL COMPANY FOOTPRINTS
             TABLE 134 COMPANY TYPE FOOTPRINT
             TABLE 135 COMPANY APPLICATION FOOTPRINT
             TABLE 136 COMPANY REGION FOOTPRINT
     10.8 COMPETITIVE SCENARIO
             10.8.1 HEAT EXCHANGERS MARKET: NEW PRODUCT LAUNCHES AND DEVELOPMENTS
                        TABLE 137 HEAT EXCHANGERS MARKET: NEW PRODUCT LAUNCHES AND DEVELOPMENTS
             10.8.2 HEAT EXCHANGERS MARKET: DEALS
                        TABLE 138 HEAT EXCHANGERS MARKET: DEALS
             10.8.3 OTHER DEVELOPMENTS
                        TABLE 139 HEAT EXCHANGERS MARKET: OTHER DEVELOPMENTS

11 COMPANY PROFILES (Page No. - 179)
(Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) * 
     11.1 MAJOR PLAYERS
             11.1.1 ALFA LAVAL
                        TABLE 140 ALFA LAVAL: BUSINESS OVERVIEW
                        FIGURE 44 ALFA LAVAL: COMPANY SNAPSHOT
             11.1.2 KELVION HOLDING GMBH
                        TABLE 141 KELVION HOLDING GMBH: BUSINESS OVERVIEW
             11.1.3 EXCHANGER INDUSTRIES LIMITED
                        TABLE 142 EXCHANGER INDUSTRIES LIMITED: BUSINESS OVERVIEW
             11.1.4 MERSEN
                        TABLE 143 MERSEN: BUSINESS OVERVIEW
                        FIGURE 45 MERSEN: COMPANY SNAPSHOT
             11.1.5 DANFOSS
                        TABLE 144 DANFOSS: BUSINESS OVERVIEW
                        FIGURE 46 DANFOSS: COMPANY SNAPSHOT
             11.1.6 API HEAT TRANSFER
                        TABLE 145 API HEAT TRANSFER: BUSINESS OVERVIEW
             11.1.7 BOYD CORPORATION
                        TABLE 146 BOYD CORPORATION: BUSINESS OVERVIEW
             11.1.8 H. GάNTNER (UK) LIMITED
                        TABLE 147 H. GάNTNER (UK) LIMITED: BUSINESS OVERVIEW
             11.1.9 JOHNSON CONTROLS
                        TABLE 148 JOHNSON CONTROLS: BUSINESS OVERVIEW
                        FIGURE 47 JOHNSON CONTROLS: COMPANY SNAPSHOT
             11.1.10 XYLEM
                        TABLE 149 XYLEM: BUSINESS OVERVIEW
                        FIGURE 48 XYLEM: COMPANY SNAPSHOT
             11.1.11 WABTEC CORPORATION
                        TABLE 150 WABTEC CORPORATION: BUSINESS OVERVIEW
                        FIGURE 49 WABTEC CORPORATION: COMPANY SNAPSHOT
             11.1.12 SPX FLOW
                        TABLE 151 SPX FLOW: BUSINESS OVERVIEW
                        FIGURE 50 SPX FLOW: COMPANY SNAPSHOT
             11.1.13 LU-VE S.P.A.
                        TABLE 152 LU-VE S.P.A.: BUSINESS OVERVIEW
                        FIGURE 51 LU-VE S.P.A.: COMPANY SNAPSHOT
             11.1.14 LENNOX INTERNATIONAL INC.
                        TABLE 153 LENNOX INTERNATIONAL INC.: BUSINESS OVERVIEW
                        FIGURE 52 LENNOX INTERNATIONAL INC.: COMPANY SNAPSHOT
     11.2 OTHER MARKET PLAYERS
             11.2.1 AIR PRODUCTS INC.
             11.2.2 BARRIQUAND TECHNOLOGIES THERMIQUES
             11.2.3 BRASK, INC.
             11.2.4 CHART INDUSTRIES
             11.2.5 DOOSAN CORPORATION
             11.2.6 FUNKE HEAT EXCHANGER APPARATEBAU GMBH
             11.2.7 HISAKA WORKS, LTD
             11.2.8 HINDUSTAN DORR-OLIVER LTD
             11.2.9 KOCH HEAT TRANSFER COMPANY
             11.2.10 RADIANT HEAT EXCHANGER PVT. LTD. PUNE INDIA
             11.2.11 SWEP INTERNATIONAL AB
             11.2.12 SMARTHEAT
             11.2.13 SIERRA S.P.A.
             11.2.14 THERMAX LIMITED
             11.2.15 VAHTERUS OY
*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies. 

12 APPENDIX (Page No. - 237)
     12.1 DISCUSSION GUIDE
     12.2 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
     12.3 AVAILABLE CUSTOMIZATIONS
     12.4 RELATED REPORTS
     12.5 AUTHOR DETAILS

The study involved four major activities to estimate the current market size of heat exchangers. Exhaustive secondary research was done to collect information on the market, the peer market, and the 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. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.

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, regulations form agencies such as the American Society of Testing Materials (ASTM), Tubular Exchanger Manufacturers Association (TEMA), US Environmental Protection Agency (EPA), and other regulatory bodies, and databases.

Primary Research

The heat exchanger market comprises several stakeholders, such as raw material suppliers, distributors, end-use manufacturers, and regulatory organizations in the supply chain. The demand side of this market included, lab technicians, technologists, and sales/purchase managers from the heat exchangers industry. The supply side is characterized by advancements in technology and diverse application segments. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

 Following is the breakdown of primary respondents

Heat Exchangers Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the total size of the heat exchanger market. These methods were also used extensively to estimate the size of various sub-segments in the market. The research methodology used to estimate the market size included 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, were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and sub-segments. In order 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 sides.

Report Objectives:

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

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.

The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

  • Further breakdown of the Rest of APAC for heat exchangers  market

Company Information

  • Detailed analysis and profiling of additional market players (up to five)
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