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Global Heat Exchangers Market to 2028: Players Include Alfa Laval, Kelvion Holding, Exchanger Industries and DanfossDUBLIN, June 9, 2023 /PRNewswire/ -- The "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 has been added to ResearchAndMarkets.com's offering. The global heat exchanger market size is projected to reach USD 29.0 billion by 2028 from USD 20.5 billion in 2023, at a CAGR of 7.1% during the forecast period. The ever-increasing demand for heat exchangers in emerging markets owing to rising awareness towards energy efficient solutions and stringent government regulations on greenhouse gas and CO2 emissions. Additionally, the demand for heat exchangers in emerging countries such as Asia Pacific, South America, and Middle East & Africa, is increasing due to the rising industrialisation and rapid urbanization that increases the demand for HVACR equipment for the commercial construction industry. This will drive the heat exchanger market during the forecast period. Energy segment is estimated to be the fastest growing in terms of value amongst other types in the heat exchanger market, in 2028. The energy segment which includes the petrochemical and Oil & gas industry is expected to register the fastest CAGR during the forecast period globally. The increasing focus on energy efficiency, sustainability, and environmental regulations has triggered the demand for heat exchangers in the energy segment. Also, the shift towards sustainable and eco-friendly practices is driving the development of bio-based and renewable petrochemical endues industry which will increase the demand for heat exchangers in the energy segment. Alloys is the second largest in the heat exchanger market, by material in 2022. Alloys provide excellent corrosion resistance, which is crucial in heat exchanger applications where fluids with varying chemical compositions and temperatures are involved. Corrosion-resistant alloys, such as nickel-based alloys, ensure longevity and reliability of heat exchanger equipment, reducing maintenance requirements and downtime. Heat exchangers require materials that can efficiently conduct heat to maximize heat exchange efficiency, and certain alloy compositions provide excellent thermal conductivity, enabling optimal performance. Europe is the largest in the heat exchanger market in 2022. Europe is the largest region amongst others in the heat exchanger market in 2022, in terms of value, Germany, France, Italy, Russia, Turkey, and the UK are the key countries driving the Eurpe heat exchanger market. This region has a highly developed industrial sector with a significant demand for heat exchangers across various industries, including power generation, oil and gas, chemical processing, HVAC (heating, ventilation, and air conditioning), and automotive manufacturing. Europe has a strong focus on energy efficiency and sustainability, driving the demand for heat exchangers that can optimize energy usage and reduce environmental impact. Key Topics Covered: 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 5 Market Overview 6 Heat Exchangers Market, by Material 7 Heat Exchangers Market, by Type 8 Heat Exchangers Market, by End-use Industry 9 Heat Exchangers Market, by Region 10 Competitive Landscape 11 Company Profiles 12 Appendix For more information about this report visit https://www.researchandmarkets.com/r/qe85l9 About ResearchAndMarkets.com Media Contact: Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
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