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Global Heat Exchangers Market Report 2021: Market to Reach $23.2 Billion by 2027 - Sustained Focus on Energy Efficiency in Modern Industrial Environments to Rev Up Opportunities

·6-min read

Dublin, Aug. 26, 2021 (GLOBE NEWSWIRE) -- The "Heat Exchangers - Global Market Trajectory & Analytics" report has been added to's offering.

Global market for Heat Exchangers estimated at US$17.6 Billion in the year 2020, is projected to reach a revised size of US$23.2 Billion by 2027, growing at a CAGR of 4.1% over the analysis period 2020-2027.

Shell & Tube Heat Exchangers, one of the segments analyzed in the report, is projected to record a 4.3% CAGR and reach US$6.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cooling Towers segment is readjusted to a revised 3.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $4 Billion, While China is Forecast to Grow at 5.4% CAGR

The Heat Exchangers market in the U.S. is estimated at US$4 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.4 Billion by the year 2027 trailing a CAGR of 5.4% over the analysis period 2020 to 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.

Air Coolers Segment to Record 3.6% CAGR

In the global Air Coolers segment, USA, Canada, Japan, China and Europe will drive the 3.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.4 Billion in the year 2020 will reach a projected size of US$3 Billion by the close of the analysis period.

China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.3 Billion by the year 2027.

Key Topics Covered:




  • Influencer Market Insights

  • World Market Trajectories

  • COVID-19 Outbreak Poised to Dent Market Prospects in the Immediate Term

  • Prevailing Weak Global Economic Environment & Negative Tide in GDP Forecasts Strongly Discourage the Heat Exchangers Market in Short Term

  • Heat Exchangers and Boilers to Play Crucial Role amid COVID-19 Pandemic

  • An Introduction to Heat Exchangers

  • Product Groups

  • Product Types and Segments

  • End-Use Market: A Brief Note

  • Key End-Use Industries for Heat Exchangers

  • Heat Exchangers: The Most Important & Ubiquitous Process Equipment in Industries

  • Global Heat Exchangers Market: Overview and Outlook

  • Playing Instrumental Role in Numerous Industries

  • Sophisticated Design Options for next-Generation, Eco-Friendly Heat Exchangers

  • 3D Printing Unfolds Exciting Design Opportunities for Heat Exchangers

  • Segment Overview: Growing Need for Advanced Equipment Augurs Well for Shell & Tube Heat Exchanger Market

  • Strong Demand from End-Use Verticals Enables Heat Exchanger Market to Maintain Positive Trajectory in Long Term

  • Chemical Industry Commands Major Share

  • Oil & Gas Remains Major Application Segment for Heat Exchangers

  • Regional Analysis: Europe Secures Commanding Position in Global Heat Exchanger Market

  • Leading Players in the Global Plate Heat Exchangers Market (2020): Percentage Share Breakdown of Revenues for Alfa Laval and Others

  • Leading Players in the Global Compact Heat Exchangers Market (2020): Percentage Value Breakdown by Company

2. FOCUS ON SELECT PLAYERS (Total 454 Featured)

  • Air Products and Chemicals, Inc.

  • Alfa Laval AB

  • API Heat Transfer

  • Balcke-Durr GmbH

  • Barriquand Technologies Thermiques

  • Danfoss

  • Doosan Corporation

  • Enerquip, Inc.

  • Funke Warmeaustauscher Apparatebau GMB

  • Guntner U.S. LLC

  • Hamon Group

  • Harsco Industrial Air-X-Changers

  • Hisaka Works, Ltd.

  • HRS Heat Exchangers Ltd

  • Johnson Controls

  • Kelvion

  • Koch Heat Transfer Company

  • McDermott

  • Mersen

  • SmartHeat Inc.

  • SPX Cooling Technologies, Inc.

  • SPX FLOW, Inc.

  • SWEP International AB

  • Tranter Inc.

  • Vahterus Oy

  • Xylem Inc.


  • Sustained Focus on Energy Efficiency in Modern Industrial Environments to Rev Up Opportunities for Heat Exchangers

  • Energy Efficiency & Cost Savings Step Up Market Opportunities for Compact Heat Exchangers

  • Energy Efficiency Benefits Drive Migration from Shell & Tube to Plate Heat Exchangers

  • Despite Slowdown in Demand, Chemical Industry to Remain the Dominant Consumer of Heat Exchangers

  • Critical Role of Heat Exchangers in the Power Generation/Utilities Sector Augurs Well

  • Continued Dominance of Coal & Move to Clean Coal Technologies to Drive the Importance of Heat Exchangers in Enabling Plant Efficiency & Emission Reduction

  • Focus on Renewable Energy: A Double Win for Heat Exchangers in the Energy Sector

  • Expected Revival of Nuclear Energy to Drive Opportunities in the Heat Exchangers Market

  • Wild Oil Prices Bring the Pain Back to the O&G Industry But Spurs the Emphasis on Productivity, Capital Efficiency & Ability to Break-Even at the Lowest Price

  • Structural Shocks & the Ensuing Permanent Break in Oil Prices to Push Demand for Underwater Heat Exchangers Further Beyond 2020

  • Medley of Factors Dole Out Challenges & Opportunities in Equal Measure for the Global Oil Refining Market

  • Healthy Market for Processed Food to Benefit Demand for Heat Exchangers in the Food Processing Sector

  • Stringent Wastewater Treatment Laws Provide Fertile Ground for Heat Exchanger Sales

  • Shortage of Freshwater Spurs Land Based Use of Seawater Heat Exchangers

  • Water Shortages to Drive Demand for Air Coolers

  • Heat Exchangers Find Increased Acceptance in Marine Industry

  • Heat Exchangers Remain Critical Elements of Modern Data Centers

  • Mining Industry Trends Continue to Discourage Heat Exchangers Market

  • Innovations in Cooling Tower Design and Technology Crucial to Future Market Growth

  • Supportive Innovative Technologies of Heat Exchangers

  • Artificial Intelligence (AI) Makes Its Revolutionary Presence Felt in the Heat Exchangers Market

  • Next-generation Factory Assembled Cooling Towers to Positively Impact Bottom Line of HVAC and Industrial Processes

  • Advancements in Plume Abatement Technologies and Drift Eliminators Address Environmental Concerns and Drive Healthy Demand

  • New Design and Material Innovations Increase Cooling Efficiency

  • Innovation in Heat Exchanger Flow Patterns, Fins & Grooves Infuse Vigor in the Market

  • R&D Focus on Material Science Helps Leverage Benefits of Newer Raw Materials

  • Select Innovations

  • Focus on Intelligent Maintenance & Continuous Monitoring of Heat Exchangers Drives Opportunities for Replacement Demand

  • A Note on Industry Standards and Codes

  • Duct Cleaning and Air Conditioning Do Not Affect COVID-19 Transmission

  • Issues & Challenges

  • F-Gas Regulations

  • Low Awareness about Benefits of Building Energy Efficiency

  • Pricing and Distribution

  • Pricing Behavior by Product Segment

  • Steel as Raw Material Dominates

  • Pricing Behavior by End-Use Segment




For more information about this report visit

CONTACT: CONTACT: Laura Wood, Senior Press Manager For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

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