(2023-2028) Heat Exchanger Market Research, Industry Growth, Size, Share, Top Competitors and Forecast Report - openPR

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Heat Exchanger Market

IMARC Group's latest research report, titled "Heat Exchanger Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," The global heat exchanger market size reached US$ 17.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 24.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.75% during 2023-2028.

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Heat Exchanger Market Overview:

A heat exchanger is designed to transfer thermal energy from one fluid to another. It consists of two channels or compartments, each containing a fluid or gas that needs cooling or heating. The fluids are separated by a thermally conductive barrier, usually made of metal or heat-resistant plastic. Heat is transferred from the hot liquid to the cold fluid, then circulated back into the system to continue the process. Heat exchangers are used in various industries, including chemical processing, power generation, and HVAC systems. They come in many designs and sizes, each tailored to specific needs and applications.

Global Heat Exchanger Market Trends:

The global market is majorly driven by the increasing demand for energy-efficient solutions. In line with this, the rising need to reduce carbon emissions is significantly contributing to product demand. Furthermore, rapid industrialization and infrastructure development in emerging economies is expected to drive the demand for heat exchangers in various industries. Apart from this, the growing demand for HVAC systems in residential, commercial, and industrial applications is positively influencing the market.

Moreover, the expanding chemical processing industry is driving the demand for heat exchangers in various applications such as heat recovery, condensation, and distillation. Besides, the rapid technological advancements in heat exchanger technology, such as microchannel heat exchangers and nanofluids, offer numerous opportunities for the market. Additionally, the escalating demand for renewable energy sources, such as solar and wind power, is providing a boost to the market.

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Key Market Segmentation:

Top Heat Exchanger Manufacturers Worldwide:

• Alfa Laval
• API Heat Transfer Inc.
• Danfoss
• General Electric Company
• Hisaka Works
• IHI Corporation
• Johnson Controls
• Kelvion Holding GmbH
• Koch Industries
• Lytron Inc.
• Mersen
• Modine Manufacturing
• Royal Hydraulics
• Sondex A/S
• Xylem Inc

Breakup by Type:

• Shell & Tube
• Plate & Frame
• Air Cooled
• Others

Breakup by Material:

• Carbon Steel
• Stainless Steel
• Nickel
• Others

Breakup by End-Use Industry:

• Chemical
• Petrochemical and Oil & Gas
• HVAC and Refrigeration
• Food & Beverage
• Power Generation
• Paper & Pulp
• Others

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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Contact us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Who we are:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.

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