Heat Exchangers Market Outlook (2022-2031)
Global sales of heat exchangers are expected to increase at a CAGR of 6% from 2022 to 2031. In the year 2021, the global heat exchangers market was valued at US$ 18.94 billion, and is anticipated to reach US$ 34.24 billion by 2031.
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Key Segments Covered in Heat Exchangers Industry Research
Heat Exchangers Market by Product :
- Air Cooled Heat Exchangers
- Plate and Frame Heat Exchangers
- Shell and Tube Heat Exchangers
- Others (Condensers, Oil Coolers, and Radiators)
Heat Exchangers Market by End User :
- Chemicals and Petrochemicals
- Power Generation
- Others (Food Processing, Aerospace, and Medical)
Heat Exchangers Market by Region :
- North America Heat Exchangers Market
- Europe Heat Exchangers Market
- Asia Pacific Heat Exchangers Market
- Latin America Heat Exchangers Market
- Middle East & Africa Heat Exchangers Market
Heat exchanger manufacturers collaborate with others to produce innovative heat transfer products to meet the world’s expanding energy needs. Heat exchanger providers are trying to gain a competitive advantage over their competitors by expanding the scope of their products’ applications.
For instance :
- In December 2021, Alfa Laval signed a global partnership deal with Microsoft to create digital solutions to help with the maintenance and support for its plate heat exchanger range. End users will be able to identify customers’ requirements using artificial intelligence (AI) in these new devices.