Heat Exchangers Market to Hit $13 Billion by 2025: Global Market Insights, Inc.
The U.S. Heat Exchangers Market is anticipated to exceed USD 2 billion by 2025 owing to growing investments toward upgrading and retrofitting of industrial process equipment coupled with resurgent economic growth.
SELBYVILLE, Del., March 19, 2019 (Newswire.com) - China heat exchangers market will witness growth on account of government focus toward the development of new industrial centers along with upgrading and expansion of existing manufacturing facilities. The region is rapidly emerging as a manufacturing hub and currently accounts for over 50 percent of the global manufacturing value added. Growing urbanization coupled with increasing investment toward oil & gas, metallurgy and chemical sector will positively influence the overall market growth in coming years.
The Global Heat Exchangers Market is expected to cross USD 13 Billion by 2025, as reported in the latest study by Global Market Insights, Inc. Rising demand for centralized heating & cooling across the commercial and residential sector will drive the market size. The increasing installations of WHRS across the industrial sector will further complement the business growth. Shifting regulatory landscape to curb carbon emissions on a global scale will thrust the deployment of heat transfer equipment.
Shell & tube heat exchanger market size will grow on account of its ability to offer low-pressure drop, high efficiency and low cost. Primary metal manufacturing, oil & gas, food processing and electric power plants are some of the significant application areas where these systems are installed. Growing adoption of heat recovery systems across industrial sectors along with rising investments toward expansion of chemical production facilities will stimulate business growth over the forecast timeframe.
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Robust industrial sector growth along with stringent government regulations to reduce carbon footprint will drive the heat exchanger market. Key economies have introduced carbon emission reduction targets to counter the adverse effects of global warming, resulting in increased investment toward replacement of existing process equipment. The positive outlook for the chemical sector, along with increasing investments for generating capacity additions, will further boost heat exchanger installations across the globe.
Browse key industry insights spread across 270 pages with 268 market data tables & 45 figures & charts from the report, “Heat Exchangers Market By Technology (Shell & Tube, Plate, Air Cooled, Others), By Application (Oil & Gas, Chemical, Power Generation & Metallurgy, Marine, Mechanical Industry, Central Heating & Refrigeration, Food Processing, Others) Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Russia, Italy, Spain, Poland, Turkey, China, Japan, South Korea, India, Indonesia, Malaysia, Thailand, Vietnam, Philippines, Australia, Saudi Arabia, UAE, Egypt, South Africa, Nigeria, Brazil, Argentina, Colombia, Chile), Application Potential, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/heat-exchanger-market
Middle East & Africa heat exchangers market is set to witness gains over 7 percent by 2025. Resurgent economic growth — along with rising investment from financial institutions, including African development toward industrialization — have stimulated the installation of these units. The region is characterized by the robust oil & gas sector, where heat exchangers play a crucial role across the value chain. Positive outlook toward expansion of the manufacturing sector on account of increasing investment will further boost the product penetration in the coming years.
Heat exchangers have found high penetration across centralized heating & cooling, chemical, refining, food & beverage, petrochemical and power generation industry. The growing eminence of energy optimization across food processing, along with increasing investments for the upgrading and development of new industrial infrastructures, will significantly contribute toward heat exchanger market growth. Ongoing technological advancements resulting in highly efficient and low-cost heat transfer solutions will further complement industry growth.
Eminent industry participants in the heat exchanger market include Kelvion, Southern Heat Exchanger, API, Danfoss, Vahterus, KNM, Wessels, Koch, Thermofin, Larsen & Toubro, Lanpec, Doosan, Shandong Beichen, HRS, Hitachi Zonsen, THT, Accessen Group, SWEP, Hisaka Works, IHI, Thermowave, SPX-Flow, Xylem, Alfa Laval and FUNKE.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Source: Global Market Insights, Inc.
