Heat Exchanger Market by End-user, Product, and Geography - Forecast and Analysis 2023-2027

Published: Jul 2023 Pages: 185 SKU: IRTNTR44592

Heat Exchanger Market Research Report 2023-2027

The heat exchanger market size is estimated to grow at a CAGR of 5.1% between 2022 and 2027 and the size of the market is forecast to increase by USD 5,062.73 million. The growth of the market depends on several factors, such as the rising demand from the water and wastewater industry, the growing market for heat exchangers in APAC-based countries, and the rising need for lightweight and compact heat exchangers for automobiles. Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021.

This report extensively covers market segmentation by end-user (chemical, fuel processing, HVAC, and others), product (shell and tube, plate and frame, cooling tower, air-cooled, and others), and geography (APAC, Europe, North America, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Heat Exchanger Market During the Forecast Period?

To learn more about this report,  Download Report Sample

Technavio’s Exclusive Heat Exchanger Market Customer Landscape

Our analysis of the adoption life cycle of the market indicates its movement between the innovator’s stage and the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027. 

Global Heat Exchanger Market Customer Landscape

Heat Exchanger Market Dynamic

Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.    

Driver - Rising demand from the water and wastewater industry

Plate and spiral heat exchangers optimize water treatment and hence, improve the energy efficiency of water treatment plants. Energy reduction is key in such a process due to high energy costs and volatility. This is vital in the treatment of water in North Africa, the Middle East, and Southeast Asia where water shortage is likely to be a pressing issue. Increasing population, higher rates of urbanization, and greater per capita consumption of water are making efficient water treatment an urgent priority.

Moreover, particularly in India and China, there are several government projects related to wastewater treatment like the Namami Gange Program and the Yellow River Basin Program. Water end-user industries like pharmaceutical, food and beverage, and paper and pulp will have to adhere to increasingly stringent water conservation norms. Hence, they are also expected to increase demand for heat exchangers, which will contribute to market growth during the forecast period.

Trend - Technological advances in the design of heat exchangers

Maximal efficiency with minimal energy loss is critical for heat exchangers. Alfa Laval Comp bloc, a heat exchanger made by Alfa Laval offers many advantages to high turbulence by corrugated plate patterns. This results in heat transfer coefficients around three to five times greater than a shell and tube heat exchanger.

Moreover, it limits the possibility of fouling, making the usage of corrosion-resistant exotic metals viable. Geothermal plants utilize the Organic Rankine Cycle (ORC) technology of which heat exchangers are a vital component. Various types of heat exchangers are available as per the requirement of the geothermal or water treatment plant. Hence, the above factors are expected to boost the growth of the market during the forecast period.  

Challenge - Fouling of heat exchanger

The high maintenance and cleaning costs associated with heat exchangers, especially to avoid fouling, is resulting in high production costs unless noticed early. Fouling is the accumulation of unwanted deposits on the heat transfer surfaces which depend on the properties of the fluid and the operating conditions of the heat exchanger. Additionally, the deposits can vary, from being very hard and difficult to remove to being soft and easy to remove. Due to fouling the construction material of the heat exchanger corrodes over time and this is observed in both liquid and gas systems.

Therefore, fouling must be identified as early as possible and necessary steps must be taken to reduce its impact on the heat exchanger. If it is identified very late, it will severely hamper efficiency and force an emergency shutdown. Corrosion from fouling can result in the replacement of the construction material, making the producer incur massive operating costs. Hence the various costs associated with the operation and regular maintenance to prevent fouling is likely to hamper market growth during the forecast period.

Who are the Major Heat Exchanger Market companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

API Heat Transfer Inc. - The company offers heat exchangers under the brand called API Heat Transfer, such as MF series, M series, HC series, and PF series.

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:

Alfa Laval AB, Boyd Corp, Chart Industries Inc., Danfoss AS, Doosan Corp., Dover Corp., Exchanger Industries Ltd., General Electric Co., Guntner GmbH and Co. KG., Hisaka Works Ltd., Johnson Controls International Plc, Kelvion Holding GmbH, Koch Industries Inc., Radiant Heat Exchanger Pvt. Ltd., SPX FLOW Inc., Thermal Edge Inc., Thermax Ltd., Xylem Inc., and Mersen Corporate Services SAS.

Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  

Heat Exchanger Market Segmentation by End-user, Product, And Geography 

End-User Segment Analysis: 

The chemicals and petrochemicals segment will account for a major share of the market's growth during the forecast period.? Heat exchangers are the basic type of heat transfer equipment that is vastly used in chemical process industries for various applications. This involves applications like heating and cooling of the base, intermediate and final products, and heat recovery.

Get a Customised Report as per your requirements for FREE!

The chemicals and petrochemicals segment was valued at USD 4,066.31 million in 2017 and continued to grow until 2021.? They must be corrosion-resistant and manufacturers aim to get their products Tubular Exchanger Manufacturers' Association (TEMA) and the American Society of Mechanical Engineers (ASME)-certified. Various sectors like agriculture, food, environment, hygiene, transportation, and decor are responsible utilize heat exchangers. Similarly, several new petrochemical projects are likely to come up during the forecast period, thereby increasing the market potential for heat exchangers. Thus, such factors will grow the market during the forecast period.

Product?Segment Analysis: 

Based on product, the market has been segmented into shell and tube, plate and frame, cooling tower, air-cooled, and others. The shell and tube?segment will account for the largest share of this segment.? They are used for varying temperatures and pressure and offer a variety of designs according to end-user requirements. The major parts of a shell and tube heat exchange include a front header, rear header, tube bundle, and shell. They are primarily used for large-scale cooling and heating of large amounts of fluid. Furthermore, major market players such as Koch Heat Transfer Company, LP,  offer twisted heat exchangers to be used for preheating crude, feed/effluent for reformers, hydrotreaters, compressor interstage coolers, and hydrotreating/reforming. Hence the shell and tube segment of the market is likely to witness growth during the forecast period. 

Regional Analysis

For more insights on the market share of various regions View PDF Sample now!

APAC is estimated to contribute 37% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. In APAC, India will account for a large amount of regional demand for heat exchangers due to massive oil and gas activities projects. The Government of India permits 100% foreign direct investment (FDI) in natural gas, petroleum products, and refineries, likely to attract investment in the growing market. This is also likely to further boost the growth of heat exchangers.

Additionally, China as well has been undertaking numerous oil and gas exploration projects and has the largest wastewater treatment sector in the world. As per the National Development and Reform Commission of China (NDRC), the country has approximately 1,944 municipal plants across urban regions and 1,599 municipal plants across its counties. Additionally, several government initiatives in urban sewage treatment and water recycling facilities are boosting the growth of the sector and further expanding the need for heat exchangers. Hence the above factors are likely to boost the growth of the regional heat exchanger market during the forecast period.

COVID Recovery Analysis:

The COVID-19 outbreak resulted in the closure of retail stores and manufacturing units. Additionally, lockdowns restricted the mobility of people and goods, massively impacting the regional heat exchanger market. However large-scale vaccination drives resulted in the recovery and resumption of activities by end users like oil and gas refineries, food processing units, and chemical processing units. Hence these factors are likely to boost the regional market growth during the forecast period.

Segment Overview

The heat exchanger market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

  • End-user Outlook (USD Million, 2017 - 2027)
    • Chemical and petrochemical
    • Oil and gas
    • HVAC and R
    • Power
    • Food and beverages and others
  • Product Outlook (USD Million, 2017 - 2027)
    • Shell and tube 
    • Plate and frame
    • Cooling tower
    • Air cooled
    • Others
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America
      • Argentina
      • Brazil
      • Chile

Heat Exchanger Market Scope

Report Coverage

Details

Page number

183

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.01%

Market growth 2023-2027

USD  5,062.73 million

Market structure

Fragmented

YoY growth 2022-2023(%)

4.03

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 37%

Key countries

US, Canada, China, Germany, and France

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

Alfa Laval AB, API Heat Transfer Inc., Boyd Corp., Chart Industries Inc., Danfoss AS, Doosan Corp., Dover Corp., Exchanger Industries Ltd., General Electric Co., Guntner GmbH and Co. KG., Hisaka Works Ltd., Johnson Controls International Plc, Kelvion Holding GmbH, Koch Industries Inc., Radiant Heat Exchanger Pvt. Ltd., SPX FLOW Inc., Thermal Edge Inc., Thermax Ltd., Xylem Inc., and Mersen Corporate Services SAS

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Request PDF sample

What are the Key Data Covered in this Heat Exchanger Market Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the heat exchanger market between 2023 and 2027
  • Precise estimation of the heat exchanger market and its contribution to the market in focus on the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market across APAC, Europe, North America, South America, and the Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of heat exchanger market companies

We can help! Our analysts can customize this market research report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global heat exchanger market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on global heat exchanger market 2017 - 2021 ($ million)
    • 4.2 End-user Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
    • 4.3 Product Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)
    • 6.2 Comparison by End-user
      • Exhibit 32: Chart on Comparison by End-user
      • Exhibit 33: Data Table on Comparison by End-user
    • 6.3 Chemical and petrochemical - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Chemical and petrochemical - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Chemical and petrochemical - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Chemical and petrochemical - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Chemical and petrochemical - Year-over-year growth 2022-2027 (%)
    • 6.4 Oil and gas - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Oil and gas - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Oil and gas - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Oil and gas - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Oil and gas - Year-over-year growth 2022-2027 (%)
    • 6.5 HVAC and R - Market size and forecast 2022-2027
      • Exhibit 42: Chart on HVAC and R - Market size and forecast 2022-2027 ($ million)
      • Exhibit 43: Data Table on HVAC and R - Market size and forecast 2022-2027 ($ million)
      • Exhibit 44: Chart on HVAC and R - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on HVAC and R - Year-over-year growth 2022-2027 (%)
    • 6.6 Power - Market size and forecast 2022-2027
      • Exhibit 46: Chart on Power - Market size and forecast 2022-2027 ($ million)
      • Exhibit 47: Data Table on Power - Market size and forecast 2022-2027 ($ million)
      • Exhibit 48: Chart on Power - Year-over-year growth 2022-2027 (%)
      • Exhibit 49: Data Table on Power - Year-over-year growth 2022-2027 (%)
    • 6.7 Food and beverages and others - Market size and forecast 2022-2027
      • Exhibit 50: Chart on Food and beverages and others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 51: Data Table on Food and beverages and others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Chart on Food and beverages and others - Year-over-year growth 2022-2027 (%)
      • Exhibit 53: Data Table on Food and beverages and others - Year-over-year growth 2022-2027 (%)
    • 6.8 Market opportunity by End-user
      • Exhibit 54: Market opportunity by End-user ($ million)
      • Exhibit 55: Data Table on Market opportunity by End-user ($ million)

    7 Market Segmentation by Product

    • 7.1 Market segments
      • Exhibit 56: Chart on Product - Market share 2022-2027 (%)
      • Exhibit 57: Data Table on Product - Market share 2022-2027 (%)
    • 7.2 Comparison by Product
      • Exhibit 58: Chart on Comparison by Product
      • Exhibit 59: Data Table on Comparison by Product
    • 7.3 Shell and tube - Market size and forecast 2022-2027
      • Exhibit 60: Chart on Shell and tube - Market size and forecast 2022-2027 ($ million)
      • Exhibit 61: Data Table on Shell and tube - Market size and forecast 2022-2027 ($ million)
      • Exhibit 62: Chart on Shell and tube - Year-over-year growth 2022-2027 (%)
      • Exhibit 63: Data Table on Shell and tube - Year-over-year growth 2022-2027 (%)
    • 7.4 Plate and frame - Market size and forecast 2022-2027
      • Exhibit 64: Chart on Plate and frame - Market size and forecast 2022-2027 ($ million)
      • Exhibit 65: Data Table on Plate and frame - Market size and forecast 2022-2027 ($ million)
      • Exhibit 66: Chart on Plate and frame - Year-over-year growth 2022-2027 (%)
      • Exhibit 67: Data Table on Plate and frame - Year-over-year growth 2022-2027 (%)
    • 7.5 Air cooled - Market size and forecast 2022-2027
      • Exhibit 68: Chart on Air cooled - Market size and forecast 2022-2027 ($ million)
      • Exhibit 69: Data Table on Air cooled - Market size and forecast 2022-2027 ($ million)
      • Exhibit 70: Chart on Air cooled - Year-over-year growth 2022-2027 (%)
      • Exhibit 71: Data Table on Air cooled - Year-over-year growth 2022-2027 (%)
    • 7.6 Others - Market size and forecast 2022-2027
      • Exhibit 72: Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 73: Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 75: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 7.7 Market opportunity by Product
      • Exhibit 76: Market opportunity by Product ($ million)
      • Exhibit 77: Data Table on Market opportunity by Product ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 78: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 79: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 80: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 81: Chart on Geographic comparison
      • Exhibit 82: Data Table on Geographic comparison
    • 9.3 Europe - Market size and forecast 2022-2027
      • Exhibit 83: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 84: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 85: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 86: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.4 North America - Market size and forecast 2022-2027
      • Exhibit 87: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 88: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 89: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 90: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.5 APAC - Market size and forecast 2022-2027
      • Exhibit 91: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 92: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 93: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 94: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.6 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 95: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 96: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 97: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 98: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.7 South America - Market size and forecast 2022-2027
      • Exhibit 99: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 100: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 101: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 102: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 103: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 104: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 105: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 106: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 Germany - Market size and forecast 2022-2027
      • Exhibit 107: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 108: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 109: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 110: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.10 China - Market size and forecast 2022-2027
      • Exhibit 111: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 112: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 113: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 114: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.11 UK - Market size and forecast 2022-2027
      • Exhibit 115: Chart on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 116: Data Table on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 117: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 118: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.12 Canada - Market size and forecast 2022-2027
      • Exhibit 119: Chart on Canada - Market size and forecast 2022-2027 ($ million)
      • Exhibit 120: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
      • Exhibit 121: Chart on Canada - Year-over-year growth 2022-2027 (%)
      • Exhibit 122: Data Table on Canada - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 123: Market opportunity by geography ($ million)
      • Exhibit 124: Data Tables on Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 125: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 126: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 127: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 128: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 129: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 130: Matrix on vendor position and classification
            • 12.3 Alfa Laval AB
              • Exhibit 131: Alfa Laval AB - Overview
              • Exhibit 132: Alfa Laval AB - Business segments
              • Exhibit 133: Alfa Laval AB - Key news
              • Exhibit 134: Alfa Laval AB - Key offerings
              • Exhibit 135: Alfa Laval AB - Segment focus
            • 12.4 API Heat Transfer Inc.
              • Exhibit 136: API Heat Transfer Inc. - Overview
              • Exhibit 137: API Heat Transfer Inc. - Product / Service
              • Exhibit 138: API Heat Transfer Inc. - Key offerings
            • 12.5 Boyd Corp.
              • Exhibit 139: Boyd Corp. - Overview
              • Exhibit 140: Boyd Corp. - Product / Service
              • Exhibit 141: Boyd Corp. - Key news
              • Exhibit 142: Boyd Corp. - Key offerings
            • 12.6 Chart Industries Inc.
              • Exhibit 143: Chart Industries Inc. - Overview
              • Exhibit 144: Chart Industries Inc. - Business segments
              • Exhibit 145: Chart Industries Inc. - Key news
              • Exhibit 146: Chart Industries Inc. - Key offerings
              • Exhibit 147: Chart Industries Inc. - Segment focus
            • 12.7 Danfoss AS
              • Exhibit 148: Danfoss AS - Overview
              • Exhibit 149: Danfoss AS - Business segments
              • Exhibit 150: Danfoss AS - Key news
              • Exhibit 151: Danfoss AS - Key offerings
              • Exhibit 152: Danfoss AS - Segment focus
            • 12.8 Doosan Corp.
              • Exhibit 153: Doosan Corp. - Overview
              • Exhibit 154: Doosan Corp. - Business segments
              • Exhibit 155: Doosan Corp. - Key offerings
              • Exhibit 156: Doosan Corp. - Segment focus
            • 12.9 Dover Corp.
              • Exhibit 157: Dover Corp. - Overview
              • Exhibit 158: Dover Corp. - Business segments
              • Exhibit 159: Dover Corp. - Key offerings
              • Exhibit 160: Dover Corp. - Segment focus
            • 12.10 Exchanger Industries Ltd.
              • Exhibit 161: Exchanger Industries Ltd. - Overview
              • Exhibit 162: Exchanger Industries Ltd. - Product / Service
              • Exhibit 163: Exchanger Industries Ltd. - Key offerings
            • 12.11 General Electric Co.
              • Exhibit 164: General Electric Co. - Overview
              • Exhibit 165: General Electric Co. - Business segments
              • Exhibit 166: General Electric Co. - Key news
              • Exhibit 167: General Electric Co. - Key offerings
              • Exhibit 168: General Electric Co. - Segment focus
            • 12.12 Hisaka Works Ltd.
              • Exhibit 169: Hisaka Works Ltd. - Overview
              • Exhibit 170: Hisaka Works Ltd. - Product / Service
              • Exhibit 171: Hisaka Works Ltd. - Key offerings
            • 12.13 Johnson Controls International Plc
              • Exhibit 172: Johnson Controls International Plc - Overview
              • Exhibit 173: Johnson Controls International Plc - Business segments
              • Exhibit 174: Johnson Controls International Plc - Key news
              • Exhibit 175: Johnson Controls International Plc - Key offerings
              • Exhibit 176: Johnson Controls International Plc - Segment focus
            • 12.14 Kelvion Holding GmbH
              • Exhibit 177: Kelvion Holding GmbH - Overview
              • Exhibit 178: Kelvion Holding GmbH - Product / Service
              • Exhibit 179: Kelvion Holding GmbH - Key offerings
            • 12.15 Koch Industries Inc.
              • Exhibit 180: Koch Industries Inc. - Overview
              • Exhibit 181: Koch Industries Inc. - Product / Service
              • Exhibit 182: Koch Industries Inc. - Key news
              • Exhibit 183: Koch Industries Inc. - Key offerings
            • 12.16 SPX FLOW Inc.
              • Exhibit 184: SPX FLOW Inc. - Overview
              • Exhibit 185: SPX FLOW Inc. - Business segments
              • Exhibit 186: SPX FLOW Inc. - Key offerings
              • Exhibit 187: SPX FLOW Inc. - Segment focus
            • 12.17 Thermal Edge Inc.
              • Exhibit 188: Thermal Edge Inc. - Overview
              • Exhibit 189: Thermal Edge Inc. - Product / Service
              • Exhibit 190: Thermal Edge Inc. - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 191: Inclusions checklist
                • Exhibit 192: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 193: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 194: Research methodology
                • Exhibit 195: Validation techniques employed for market sizing
                • Exhibit 196: Information sources
              • 13.5 List of abbreviations
                • Exhibit 197: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

              PURCHASE FULL REPORT OF

              heat exchanger market

              QUICK BUY

              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

              Why should you prefer Technavio's market insights report?

              • Off-the-shelf research reports
              • Reports can be tailored to meet the customer's needs
              • Trusted by more than 100 fortune 500 organizations
              • Information about the market's key drivers, trends, and challenges
              • Parent market analysis
              • Every week, 50,000 people visit our subscription platform
              • Detailed vendors report with competitive landscape
              • Covid-19 impact and recovery analysis
              • Data on revenue-generating market segments
              • Details on the market shares of various regions
              • Five-force market analysis