heat exchangers market estimated to expand at a robust cagr by 2024

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Heat exchangers market Estimated to Expand at a Robust CAGR by 2024

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Biomass Power Generation Market

Heat Exchangers Market

- Global Industry Analysis, Size, Share, Growth Trends  2014 - 2020

©2019 Transparency Market Research, All Rights Reserved

©2019 Transparency Market Research, All Rights Reserved

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Transparency Market Research (TMR) is a market intelligence company, providing North America business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. We have an experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector—such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods, and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With a wider scope and stratified research methodology, our syndicated reports strive to serve clients and satisfy their overall research requirement.

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The global heat exchanger market was valued at USD 11.86 billion in 2013 and is expected to reach USD 18.04 billion by 2020 at a CAGR of 6.0% from 2014 to 2020.

Asia Pacific alone accounted for 33.6% of the overall market share in 2013, valued at USD 3.94 billion.

The region is expected to reach market capitalization to the tune of USD 6.12 billion, growing at a respectable CAGR of 6.34% from 2014 to 2020. 

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Global Variable Frequency Drives Market: Snapshot 

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Heat Exchangers Market Trends

Maximizing thermal efficiency is the prime reason behind an increased demand for heat exchangers.

A heat exchanger is a piece of equipment designed and built for efficient heat transfer from one medium to another.

The media may be separated by a solid wall to prevent mixing or they may be in direct contact with the materials being processed, which could harm the end product. 

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Asia Pacific to Remain Frontrunner Owing to Rapid Infrastructure Development 

Heavy-duty or customized heat exchangers are generally utilized by large industrial consumers.

On the other hand, portable heat exchangers generally cater to the residential or small commercial establishments.

A rapidly developing heating, ventilation, and air conditioning (HVAC) industry coupled with brisk capacity additions in both the power and hydrocarbons sectors are likely to boost demand for heat exchangers.

Currently, significant investment is being made by industries located in developing countries (Asia Pacific) to develop infrastructure to bring itself at par with the growth rate of other mature industries.

©2019 Transparency Market Research, All Rights Reserved

©2019 Transparency Market Research, All Rights Reserved

Some of the prominent players in the global heat exchangers market

G, ABB Ltd.

Crompton Greaves Ltd.

Schneider Electric Industries S.A.S.

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