Heat Exchanger Market to Reach $28.3 Bn, Globally, by 2030 at 5.5% CAGR: Allied Market Research

Rise of oil & gas demand and growing industrialization in developing economies have boosted the growth of the global heat exchanger market

PORTLAND, Ore., March 2, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Heat Exchanger Market by Type (Shell and Tube, Plate and Frame, Air-Cooled, Microchannel Heat Exchanger, and Others), End-user Industry (Chemical, Petrochemical, Oil & Gas, HVACR, Food & Beverages, Power Generation, and Others), and Material of Construction (Carbon Steel, Stainless Steel, Nickel, and Others): Global Opportunity Analysis and Industry Forecast 2021–2030." According to the report, the global heat exchanger industry was pegged at $16.7 billion in 2020, and is expected to reach $28.3 billion by 2030, growing at a CAGR of 5.5% from 2021 to 2030.

Drivers, restraints, and opportunities-

Rise of oil & gas demand and growing industrialization in developing economies have boosted the growth of the global heat exchanger market. However, several issues in the system such as leakage and pressure drops hinder the market growth. On the contrary, increase in demand for petrochemicals and rapid expansion of nuclear power plants are expected to open lucrative opportunities for the market players in the coming years.

Download Sample PDF (287 Pages PDF with Insights): https://www.alliedmarketresearch.com/request-sample/2049

Covid-19 scenario:

• In the initial days of the pandemic, several industries have stopped their operations and the global supply chain was disrupted. The sales of the heat exchanger were also impacted due to the paused manufacturing of the heat exchanger.
• The oil and gas industry has been severely affected by the COVID-19 outbreak. Crude prices have dropped in 2020 as a result of resumed overflow production. However, sustained upstream activities have had no influence on heat exchanger demand.
• Furthermore, import and export activities were severely hampered, thereby impacting industries that use heat exchangers and, thus, impacting the global heat exchanger market.
• The COVID-19 pandemic has had a rapid and drastic impact on the global automotive sector. However, a drop in automotive sales resulted in a drop in radiator sales, which had a significant influence on the heat exchanger market.

The shell and tubesegment to dominate by 2030-

Based on type, the shell and tube segment accounted for nearly one-third of the global heat exchanger market share in 2020, and is anticipated to retain its dominance throughout the forecast period. This is attributed to its various advantages such as ease of application in higher operating temperatures and pressures, low price as compared to plate type coolers, and others. Shell and tube heat exchangers are a preferred choice owing to the ease of servicing and their compatibility for use with different types of seawater coolants. Moreover, this segment would showcase the fastest CAGR of 5.9% by 2030. The report also includes analysis of plate and frame, air-cooled, microchannel heat exchangers, and others.

Get detailed COVID-19 impact analysis on the Heat Exchanger Market: https://www.alliedmarketresearch.com/request-for-customization/2049?reqfor=covid

The chemical segment held the lion's share in 2020-

Based on end-user industry, the chemical segment held the lion's share in 2020, contributing to nearly one-fourth of the global heat exchanger market, and is expected to continue its lead during the forecast period. This is owing to their ability to withstand the continuous chemical reactions and their application in a complex series of processes such as cooling, heating, condensing, separation, evaporation, and others. The oil and gas segment, however, would showcase the fastest CAGR of 6.1% by 2030. The report also includes an analysis of the Hvacr, petrochemical, power generation, and food & beverage segments.

North America to portray the highest CAGR through 2030

By region, the global heat exchanger marketacross North America is expected to register the highest CAGR of 5.9% during the forecast period, owing to rising upstream activities, chemical industry, and oil & gas refineries, which in turn are expected to increase the demand of heat exchanger in the region. However, the market across LAMEA held the largest share in 2020, accounting for more than one-third of the market. This is due to numerous factors such as a large consumer base including oil & gas refineries, chemical industry, food industry, sugar industries, and others.

Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business @ https://www.alliedmarketresearch.com/connect-to-analyst/2049

Major market players

• Alfa Laval,
• Accessen Group
• Chart Industries
• Thermofin Gmbh
• Hisaka Works. Ltd.
• Xylem
• Koch Industries, Inc.
• API Heat Transfer
• Danfoss A/S
• Exchanger Industries Limited

Interested in Procure Data? Visit Here: https://www.alliedmarketresearch.com/heat-exchanger-market/purchase-options

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:

https://www.alliedmarketresearch.com/avenueTrial

Similar Reports We Have:   

India Heat Exchangers Market is expected to reach $890.0 million by 2026, registering a CAGR of 8.6% from 2019 to 2026.

Thermal Power Plant Market is projected to reach $1,820.7 billion by 2030, growing at a CAGR of 3.2% from 2021 to 2030.

Shale Gas Processing Equipment Market is projected to reach $13.5 billion by 2026, growing at a CAGR of 14.8% from 2019 to 2026.

Captive Power Generation Market is projected to reach $823.1 billion by 2030, growing at a CAGR of 5.3% from 2021 to 2030.

Cogeneration Equipment Market is projected to reach $51.9 bn by 2030, growing at a CAGR of 9.4% from 2020 to 2030.

Geothermal Power Market was valued at $4.6 billion in 2018, and is projected to reach $6.8 billion by 2026, growing at a CAGR of 5.0% from 2019 to 2026.

Hydropower Generation Market is projected to reach $317.8 billion by 2027, growing at a CAGR of 5.9% from 2020 to 2027.

Diaphragm Pump Market is projected to reach $9.3 billion by 2030, growing at a CAGR of 5.7% from 2020 to 2030.

Distributed Energy Generation Market is forecasted to reach $919.6 billion by 2030, growing at a CAGR of 14.2% from 2021 to 2030.

Heat Pump Market is projected to reach $99.6 billion by 2026, growing at a CAGR of 7.74% from 2019 to 2026.

Pre-Book Now with 10% Discount:

Pyrolysis Gasoline: Global Opportunity Analysis and Industry Forecast, 2020-2030

Power Generation Market: Global Opportunity Analysis and Industry Forecast, 2020- 2027

Ring Main Unit (RMU) Market: Global Analysis and Industry Forecast, 2022-2030

Nuclear Electric Power Generation Market: Global Analysis and Industry Forecast, 2022-2030

Waste Heat Recovery Market: Global Analysis and Industry Forecast, 2022-2029

Brazed Plate Heat Exchangers Market: Global Analysis and Industry Forecast, 2021–2030

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com 
Web: https://www.alliedmarketresearch.com 
Follow us on: LinkedIn Twitter

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg