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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Heat Exchangers market. Market segmentation includes Product Segment (Shell & Tube Heat Exchangers, Cooling Towers, Air Coolers, Gasketed PHE, Welded PHE, Brazed PHE, and Other Product Segments); End-Use (Chemicals, HVAC & Refrigeration, Oil & Gas, Power Generation, Food & Beverage, and Other End-Uses).

Find Out More About Regions, Brands, Dominant, Active & Niche Companies Covered in the Report

24 November 1:15 a.m., Silicon Valley, California - According to the new market research report, the global market for Heat Exchangers is projected to grow at a CAGR of 4.1% to reach US$23.2 billion by 2027, driven by technological advances and increasing adoption of heat transfer equipment for heat recovery, process cooling and condensation applications. The global Heat Exchangers market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Shell & Tube Heat Exchangers, one of the segments analyzed and sized in this study, is forecast to grow at over 4.3% and reach a market size of US$6.1 billion by the end of the analysis period. The United States is forecast to readjust to a 3.7% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$1.4 billion growing at a CAGR of 3.3% over the next couple of years. In addition, over US$1.8 billion worth of projected demand in the region will come from Rest of European markets. In Japan, the Cooling Towers segment will reach a market size of US$477 million by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Chemicals end-use segment in this country against this backdrop will grow at a CAGR of 4.4% over the next couple of years to create an addressable market opportunity worth US$1.3 billion by the year 2027.

The heat exchangers market is anticipated to receive a major boost from rapid industrialization and increasing use of heating, ventilation, and air conditioning systems (HVAC) for optimal utilization of the equipment. The need to refurbish HVAC systems is expected to drive the use of cooling equipment and heat exchangers in the residential sector. While consistent demand from various end-use industries such as energy and petroleum is likely to boost adoption, the requirement to control temperatures in manufacturing units is poised to impel heat exchanger demand. On the other hand, stringent regulations curb carbon emissions as a result of rising concerns over environment and air pollution are likely to present new growth opportunities. The market growth is also driven by the need for centralized heating systems in residential and commercial segments along with global warming and the resulting change in weather conditions. Increasing investments by various companies for improving the commercial infrastructure is expected to create huge growth opportunities for heat exchanger providers. In the coming years, heat exchangers are anticipated to register considerable gains in developing markets owing to rising investment to strengthen the infrastructural and manufacturing sectors. However, volatile raw material prices coupled with increasing focus on waste heat recovery heat exchangers and availability of exhaust gas recirculation coolers are hindering the market expansion. The market growth is also hindered by low level of awareness in developing countries.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 4507. Among this pool, 811 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 133 unique participations, a total of 61 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.

Key Competitors Covered in the Report -
Air Products and Chemicals, Inc.
Alfa Laval AB
Doosan Corporation (Doosan Group)
Danfoss A/S
Balcke-Duerr GmbH
Hisaka Works Ltd.
API Heat Transfer
Barriquand Technologies Thermiques
Enerquip LLC
Funke Warmeaustauscher Apparatebau GmbH
Harsco Industrial Air-X-Changers
Guntner U.S. LLC

Segments Covered in the Report -
Product Segment (Shell & Tube Heat Exchangers, Cooling Towers, Air Coolers, Gasketed PHE, Welded PHE, Brazed PHE, Other Product Segments)
End-Use (Chemicals, HVAC & Refrigeration, Oil & Gas, Power Generation, Food & Beverage, Other End-Uses)

Geographies Analyzed in the Report -
Rest of Europe
South Korea
Rest of Asia-Pacific
Latin America
Rest of World.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) ( is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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