Heat exchangers are highly labor-intensive to produce, which is attributed to the long welding hours that are required. The different types of heat exchangers products and dimensions reduce manufacturing efficiency.
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This is one of the major reasons production is increasingly being shifted to developing countries owing to availability of cheap labor. Only the standard products are manufactured in developing countries as of now; however, in future, custom-made heat exchangers are anticipated to be produced in developing countries such as India, and China. However, high cost of raw materials used for manufacture of shell & tube heat exchangers is expected to inhibit the growth to some extent.
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The global heat exchangers market is segmented based on type, end-user industry, material of construction, and region. Depending on type, the market is categorized into shell & tube, plate & frame, air-cooled, microchannel, and others. On the basis of end-user industry, it is classified into chemical, petrochemical, oil & gas, HVACR, food & beverage, power generation, others. The materials of construction covered in the study include carbon steel, stainless steel, nickel, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global heat exchangers market from 2023 to 2030 to determine the prevailing opportunities.
- A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
- The market size is provided in terms of revenue.
- Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the heat exchanger industry for strategy building.
- Profiles of leading players operating in the market are provided to understand the competitive scenario.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth
KEY MARKET SEGMENTS
• By Type
Shell & Tube
Plate & Frame
Air-Cooled
Microchannel
Others
• By End-User Industry
Chemical
Petrochemical
Oil & Gas
HVACR
Food & Beverage
Power Generation
Others
• By Material of Construction
Carbon Steel
Stainless Steel
Nickel
Others
• By Region
North America
• U.S.
• Canada
• Mexico
Europe
• Germany
• France
• Spain
• Italy
• UK
• Russia
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• New Zealand
• Malaysia
• Indonesia
• Philippines
• Thailand
• Vietnam
• Rest of Asia-Pacific
LAMEA
• Saudi Arabia
• UAE
• Kuwait
• Qatar
• South Africa
• Rest of LAMEA
KEY MARKET PLAYERS
• API Heat Transfer
• Brask, Inc.
• Danfoss A/S
• Güntner GmbH & Co. KG
• Kelvion Holding GmbH
• Koch Industries, Inc.
• Lytron Inc.
• Thermofin
• Xylem Inc.
The other players in the value chain include of the market includes
- HRS Heat Exchangers,
- Thermax Global,
- Harsco Industrial Air-X-Changers,
- Radiant Heat Exchanger,
- Air Products and Chemicals,
- Doosan Corporation,
- Sierra, Mersen,
- Barriquand Technologies,
- Swep International, and others.