Market Research Report
Heat Exchanger Market Size, Share & Trends Analysis Report By Product (Plate & Frame (Brazed, Gasketed, Welded), Shell & Tube, Air Cooled), By End Use, By Region, And Segment Forecasts, 2022 - 2030
|Heat Exchanger Market Size, Share & Trends Analysis Report By Product (Plate & Frame (Brazed, Gasketed, Welded), Shell & Tube, Air Cooled), By End Use, By Region, And Segment Forecasts, 2022 - 2030|
Published: April 13, 2022
Grand View Research, Inc.
Content info: 133 Pages
Delivery time: 2-10 business days
The global heat exchanger market size is expected to reach USD 26.78 billion by 2030, according to a new report by Grand View Research, Inc. Rising demand from various industries, including chemical & petrochemical, and power generation, along with an increasing focus on improving efficiency standards in expected to drive the market at a CAGR of 5.1%.
The presence of favorable government regulations in the emerging economies of China, India, Brazil, and Mexico about setting up new manufacturing facilities is expected to spur the demand for heat exchangers in various industries. In addition, upcoming nuclear power projects, particularly in the Asia Pacific, are anticipated to drive market growth during the forecast period.
Technological advancements coupled with constant efforts and investments by major market participants in product innovation and research & development are expected to increase the market competitiveness over the coming years. The adoption of novel techniques of additive manufacturing in the production of heat exchangers is likely to complement industrial growth.
The COVID-19 pandemic has severely impacted several economies worldwide. Containment measures, including lockdown imposed by various countries to curb the spread of COVID-19, have resulted in limiting the operations of the manufacturing facilities, thereby negatively impacting the demand for heat exchangers in 2020.