HOME Top Market Reports Heat Exchangers Market by Type (Shell & Tube, Plate & Frame, Air Cooled), Application (Chemical, Petrochemical and Oil & Gas, HVACR, Food & Beverage, Power Generation, Paper & pulp), and Region - Global Forecast to 2022

Heat Exchangers Market by Type (Shell & Tube, Plate & Frame, Air Cooled), Application (Chemical, Petrochemical and Oil & Gas, HVACR, Food & Beverage, Power Generation, Paper & pulp), and Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: June 2017
Report Code: CH 3063

 

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The heat exchangers market is projected to reach USD 20.65 Billion by 2022, at a CAGR of 8.3% from 2017 to 2022. The report segments the market by type, application, and region. On the basis of type, the market is segmented into shell & tube, plate & frame, and air cooled. By application, the market is segmented into chemical, petrochemical and oil & gas, HVACR, food & beverage, power generation, and paper & pulp. Based on region, the market is segmented into Asia Pacific, North America, Western Europe, Central & Eastern Europe, South America, and Middle East & Africa. The base year considered for the study is 2016 and forecast period is between 2017 and 2022.

Objectives of the Study:

  • To define, describe, and forecast the heat exchangers market on the basis of type, application, and region
  • To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze micromarkets with respect to individual growth trends, future 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 strategically profile key players and comprehensively analyze their market shares and core competencies

Both top-down and bottom-up approaches were used to estimate and validate the size of the market and estimate the size of various other dependent submarkets in the overall heat exchanger market. The research study involved the extensive use of secondary sources, directories, and databases such as D&B Hoovers, Bloomberg, Factiva, American Society of Mechanical Engineers (ASME), Securities and Exchange Commission (SEC), American National Standards Institute (ANSI), among other government and private websites, to identify and collect information useful for the technical, market-oriented, and commercial study of the heat exchangers market.

Heat Exchangers Market

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

Some of the companies operating in this market include Alfa Laval AB (Sweden), Kelvion Holdings Gmbh (Germany), Danfoss A/S (Denmark), SPX Corporation (US), Xylem Inc. (US), API Heat Transfer Inc. (US), Gunter AG & Co. KG (Germany), and Hamon & Cie International SA (Belgium).

Key Target Audience:

  • Manufacturers of Heat Exchanger
  • Traders, Distributors, and Heat Exchanger Suppliers
  • Regional Manufacturer Associations and General Heat Exchanger Associations
  • Government and Regional Agencies And Research Organizations
  • Investment Research Firms

Scope of the report:

This research report categorizes the heat exchanger market on the basis of type, application, and region.

On the basis of Type:

  • Shell & Tube
  • Plate & frame
  • Air Cooled
  • Others

On the basis of Application:

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

On the basis of Region:

  • North America
  • Asia-Pacific
  • Western Europe
  • Central & Eastern Europe
  • South America
  • Middle East & Africa

The market is further analyzed on the basis of key countries in each of these regions.

Available Customizations:

Along with the market data, MarketsandMarkets offers customizations according to the specific needs of the company. 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

Table of Contents

1 Introduction (Page No. - 13)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered in the Report
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 16)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 23)

4 Premium Insights (Page No. - 27)
    4.1 Significant Market Opportunities in the Heat Exchangers Market
    4.2 Heat Exchangers Market in Asia Pacific Region, By Application and Country
    4.3 Heat Exchangers Market, By Region (2016)
    4.4 Heat Exchangers Market, By Application

5 Market Overview (Page No. - 30)
    5.1 Introduction
           5.1.1 Drivers
                    5.1.1.1 Surging Energy Prices
                    5.1.1.2 Rising Demand From the Developing Markets of Asia-Pacific
                    5.1.1.3 Stringent Environmental Regulations Driving the Demand for Heat Exchangers
                    5.1.1.4 Rise in HVACR Deployments and Growth in Industrial Activities
                    5.1.1.5 Technological Advancements in Heat Exchangers Market
           5.1.2 Restraints
                    5.1.2.1 Sluggish Growth of the Heat Exchangers Market in Europe and North America
           5.1.3 Opportunities
                    5.1.3.1 Growing Demand for Nuclear Power Generation
                    5.1.3.2 Large Aftermarket for Heat Exchangers
           5.1.4 Challenges
                    5.1.4.1 Fluorinated Greenhouse Gases Regulations
    5.2 Raw Material Analysis
           5.2.1 Steel
           5.2.2 Non-Steel
    5.3 Porter’s Five Forces
           5.3.1 Threat of New Entrants
           5.3.2 Threat of Substitutes
           5.3.3 Bargaining Power of Buyers
           5.3.4 Bargaining Power of Suppliers
           5.3.5 Intensity of Rivalry

6 Heat Exchangers Market, By Type (Page No. - 41)
    6.1 Introduction
    6.2 Shell & Tube Heat Exchangers
           6.2.1 Tubular Heat Exchangers
    6.3 Plate & Frame Heat Exchangers
           6.3.1 Gasketed Plate & Frame Heat Exchangers
           6.3.2 Welded Plate & Frame Heat Exchangers
           6.3.3 Brazed Heat Exchangers
    6.4 Air Cooled Heat Exchangers
    6.5 Others
           6.5.1 Extended Surface Heat Exchangers
           6.5.2 Regenerative Heat Exchangers

7 Heat Exchangers Market, By Application (Page No. - 45)
    7.1 Introduction
    7.2 Chemical
    7.3 Petrochemical and Oil & Gas
    7.4 HVACR
    7.5 Food & Beverage
    7.6 Power Generation
    7.7 Paper & Pulp

8 Heat Exchangers Market, By Material of Construction, Temperature Range & Fluid Type (Page No. - 49)
    8.1 Introduction
           8.1.1 Steel Heat Exchangers
           8.1.2 Non-Steel Heat Exchangers
    8.2 Fluid Type: Water-Based & Thermic Fluids
    8.3 Temperature Range

9 Graphite Heat Exchangers Market (Page No. - 54)
    9.1 Introduction
           9.1.1 Cubic Heat Exchangers
           9.1.2 Graphite Block Heat Exchangers
           9.1.3 Polytube Graphite Shell & Tube Block Heat Exchangers

10 Printed Circuit Heat Exchangers Market (Page No. - 57)
     10.1 Introduction

11 Heat Exchangers Market, By Region (Page No. - 59)
     11.1 Introduction
     11.2 North America
             11.2.1 US
             11.2.2 Canada
     11.3 Asia Pacific
             11.3.1 China
             11.3.2 India
             11.3.3 Japan
             11.3.4 South Korea
             11.3.5 Malaysia
             11.3.6 Rest of Asia Pacific
     11.4 Western Europe
             11.4.1 Germany
             11.4.2 France
             11.4.3 Italy
             11.4.4 UK
             11.4.5 Sweden
             11.4.6 Rest of Western Europe
     11.5 Central & Eastern Europe
             11.5.1 Russia
             11.5.2 Turkey
             11.5.3 Rest of Central & Europe
     11.6 Middle East & Africa
             11.6.1 Saudi Arabia
             11.6.2 Rest of Middle East & Africa
     11.7 South America
             11.7.1 Brazil
             11.7.2 Rest of South America

12 Competitive Landscape (Page No. - 96)
     12.1 Introduction
             12.1.1 Dynamic Differentiator
             12.1.2 Innovators
             12.1.3 Visionary Leaders
             12.1.4 Emerging Companies
     12.2 Competitive Benchmarking
             12.2.1 Strength of Product Portfolio
             12.2.2 Business Strategy Excellence
     12.3 Market Ranking of Key Players

13 Company Profile (Page No. - 102)
(Business Overview, Product Offerings & Business Strategies, Key Insights, Recent Developments, MnM View)*
     13.1 Alfa Laval AB
     13.2 Kelvion Holdings GmbH
     13.3 Danfoss A/S
     13.4 SPX Corporation
     13.5 Xylem Inc.
     13.6 API Heat Transfer Inc.
     13.7 Guntner GmbH & Co. Kg
     13.8 Hamon & Cie International
     13.9 Hindustan Dorr-Oliver Ltd.
     13.10 Hisaka Works, Ltd.
     13.11 Other Key Players
             13.11.1 Hrs Heat Exchangers Ltd.
             13.11.2 Modine Manufacturing Company
             13.11.3 Sierra S.P.A.
             13.11.4 Swep International AB
             13.11.5 Mersen
             13.11.6 Thermax Global
             13.11.7 Koch Heat Transfer Company
             13.11.8 GEA Group Aktiengesellschaft
             13.11.9 Harsco Industrial Air-X-Changers
             13.11.10 Barriquand Technologies
             13.11.11 Tranter Inc.
             13.11.12 Funke Warmeaustauscher Apparatebau GmbH
             13.11.13 Vahterus
             13.11.14 Radiant Heat Exchanger Pvt. Ltd.
             13.11.15 Smart Heat Incorporated

*Details on Business Overview, Product Offerings & Business Strategies, Key Insights, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 132)
     14.1 Insights From Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Introducing RT: Real-Time Market Intelligence
     14.5 Related Reports
     14.6 Author Details


List of Tables (70 Tables)

Table 1 Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 2 Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 3 Heat Exchangers Market Share, By Material of Construction, 2016 (USD Million)
Table 4 Steel Heat Exchangers Market Share, By Type, 2016 (USD Million)
Table 5 Non-Steel Heat Exchangers Market Share, By Type, 2016 (USD Million)
Table 6 Heat Exchangers Market Share, By Fluid Type, 2016 (USD Million)
Table 7 Heat Exchangers Market Share, By Temperature Range, 2016 (USD Million)
Table 8 Graphite Heat Exchangers Market Size, By Region, 2015-2022 (USD Million)
Table 9 Printed Circuit Heat Exchangers Market Share, By Region, 2015-2022 (USD Million)
Table 10 Global Heat Exchangers Market Size, By Region, 2015–2022 (USD Million)
Table 11 North America: Heat Exchangers Market Size, By Country, 2015–2022 (USD Million)
Table 12 North America: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 13 North America: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 14 US: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 15 US: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 16 Canada: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 17 Canada: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 18 Asia Pacific: Heat Exchangers Market Size, By Country, 2015–2022 (USD Million)
Table 19 Asia Pacific: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 20 Asia Pacific: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 21 China: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 22 China: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 23 India: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 24 India: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 25 Japan: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 26 Japan: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 27 South Korea: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 28 South Korea: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 29 Malaysia: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 30 Malaysia: Heat Exchangers Market Size, By Application, 2015-2022 ( USD Million)
Table 31 Rest of Asia Pacific: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 32 Rest of Asia Pacific: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 33 Western Europe: Heat Exchangers Market Size, By Country, 2015–2022 (USD Million)
Table 34 Western Europe: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 35 Western Europe: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 36 Germany: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 37 Germany: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 38 France: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 39 France: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 40 Italy: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 41 Italy: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 42 UK: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 43 UK: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 44 Sweden: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 45 Sweden: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 46 Rest of Western Europe: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 47 Rest of Western Europe: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 48 Central & Eastern Europe: Heat Exchangers Market Size, By Country, 2015-2022 (USD Million)
Table 49 Central & Eastern Europe: Heat Exchangers Market Size, By Type, 2015-2022 (USD Million)
Table 50 Central & Eastern Europe: Heat Exchangers Market Size, By Application, 2015-2022 (USD Million)
Table 51 Russia: Heat Exchangers Market Size, By Type, 2015-2022 (USD Million)
Table 52 Russia: Heat Exchangers Market Size, By Application, 2015-2022 (USD Million)
Table 53 Turkey: Heat Exchangers Market Size, By Type, 2015-2022 (USD Million)
Table 54 Turkey: Heat Exchangers Market Size, By Application, 2015-2022 (USD Million)
Table 55 Rest of Central & Eastern Europe: Heat Exchangers Market Size, By Type, 2015-2022 (USD Million)
Table 56 Rest of Central & Eastern Europe: Heat Exchangers Market Size, By Application, 2015-2022 (USD Million)
Table 57 Middle East & Africa: Heat Exchangers Market Size, By Country, 2015–2022 (USD Million)
Table 58 Middle East & Africa: Heat Exchangers Market Size, By Type, 2015-2022 (USD Million)
Table 59 Middle East & Africa: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 60 Saudi Arabia: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 61 Saudi Arabia: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 62 Rest of Middle East & Africa: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 63 Rest of Middle East & Africa: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 64 South America: Heat Exchangers Market Size, By Country, 2015–2022 (USD Million)
Table 65 South America: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 66 South America: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 67 Brazil: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 68 Brazil: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)
Table 69 Rest of South America: Heat Exchangers Market Size, By Type, 2015–2022 (USD Million)
Table 70 Rest of South America: Heat Exchangers Market Size, By Application, 2015–2022 (USD Million)


List of Figures (33 Figures)

Figure 1 Heat Exchangers Market: Research Design
Figure 2 Market Size Estimation: Bottom-Up Approach
Figure 3 Market Size Estimation: Top-Down Approach
Figure 4 Data Triangulation
Figure 5 Assumptions of the Research Study
Figure 6 Chemical Estimated to Be the Largest Application Segment in the Heat Exchangers Market
Figure 7 The Shell & Tube Segment to Lead the Heat Exchangers Market
Figure 8 The US Dominates the Heat Exchangers Market
Figure 9 Europe Lead the Global Heat Exchangers Market 2016
Figure 10 Attractive Opportunities in the Heat Exchangers Market
Figure 11 China Dominates the Heat Exchangers Market in Asia Pacific
Figure 12 Europe Accounted for the Largest Share of the Heat Exchangers Market in 2016
Figure 13 Petrochemical and Oil & Gas Segment to Register the Highest Growth Rate Between 2017 and 2022
Figure 14 Drivers, Restraints, Opportunities, and Challenges in the Heat Exchangers Market
Figure 15 Steel Price Analysis 2015-2022
Figure 16 Heat Exchangers Market: Porter’s Five Forces Analysis
Figure 17 Shell & Tube Heat Exchangers Accounted for the Largest Market Share During the Forecast Period
Figure 18 Demand for Heat Exchangers to Be Dominated By the Chemical Industry Till 2022
Figure 19 Heat Exchangers Classification
Figure 20 Graphite Heat Exchangers Market, By Region 2016
Figure 21 China to Register the Highest CAGR in the Heat Exchangers Market Between 2017 and 2022
Figure 22 The US Was the Key Market for Top 3 Applications of Heat Exchangers in the North American Region in 2016
Figure 23 US is Estimated to Be the Largest Market for Heat Exchangers in North America
Figure 24 China Was the Key Market for Top 3 Applications of Heat Exchangers in the Asia Pacific Region in 2016
Figure 25 Competitive Leadership Mapping, 2016
Figure 26 Heat Exchangers Market Ranking, 2016
Figure 27 Alfa Laval AB: Company Snapshot
Figure 28 Danfoss A/S: Company Snapshot
Figure 29 SPX Corporation: Company Snapshot
Figure 30 Xylem Inc.: Company Snapshot
Figure 31 Hamon & CIE International Sa: Company Snapshot
Figure 32 Hindustan Dorr-Oliver Ltd.: Company Snapshot
Figure 33 Hisaka Works, Ltd.: Company Snapshot

The heat exchanger market is projected to reach USD 20.65 Billion by 2022, at a CAGR of 8.3% from 2017 to 2022. The market is driven by increase in stringent environment regulations, rise in HVACR deployments, and technological advancements. However, the mature markets of Europe and North America are projected to inhibit the growth to some extent.

The global heat exchangers market has been witnessing many developments over the past few years. Heat exchangers are preferred and widely accepted equipment due to its eco-friendly and energy-efficient properties. The focus of various regulatory bodies to reduce the amount of greenhouse gases for meeting the future sustainability is further driving the market for heat exchangers, globally.

The heat exchangers are used in various applications, such as chemical, petrochemical and oil & gas, HVACR, food & beverage, power generation, and paper & pulp. In 2016, the chemical segment is estimated to account for the largest market share among all the applications, in terms of value, followed by petrochemical and oil & gas, and HVACR. The HVACR application segment is estimated to grow at the highest during the forecast period.

Asia Pacific, North America, Western Europe, Central & Eastern Europe, South America, and Middle East & Africa are considered as the main regions in the heat exchangers market in the report. Currently, North America is the largest market for heat exchangers, with the maximum share of the global market. The region has huge installed plant capacities of heat exchangers and is an export-based heat exchangers market. The heat exchangers market is emerging in various countries such as China, India, Saudi Arabia, and Brazil due to increasing industrial activity. Also, a large number of emerging manufacturers from Asia Pacific and Eastern Europe are expected to reduce import dependence of various regions which is further expected to drive the heat exchangers market in future.

Heat Exchangers Market

Alfa Laval AB (Sweden) has extensive experience in the field of heat exchanger equipment. The company maintains high profitability and revenue than its competitors. This illustrates the company’s overall position in taking investment risks to expand its production capacity as well as market share. It is focusing immensely on research & development to launch new products & services. The company maintains a strong brand image in the heat exchangers market, as it provides high-quality products. In 2014, a new product was launched for the cooling of data centers, a market which is expected to grow considerably. At the same time, the heat transfer division of the company experienced a breakthrough in hygienic applications with a major order secured in South Korea for heat exchangers, optimized for the pharmaceutical industry resulting in increased revenue in the equipment segment of the company.

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