According
to the report, the global heat exchanger market revenue was valued at
USD 11.86 Billion in 2013 and is expected to reach USD 18.04 Billion
by 2020, at a CAGR of 6.02% from 2013 through 2020.
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Heat Exchangers Market Report with Full TOC at
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Maximizing
thermal efficiency is the primary reason behind an increased demand
for heat exchangers. A heat exchanger is a piece of equipment
designed and built for efficient heat transfer from one medium to
another. The media may be separated by a solid wall to prevent mixing
or they may be in direct contact with the materials being processed,
which could harm the end product. These equipments are widely used
for space heating, refrigeration, air conditioning, in power plants,
chemical plants, petrochemical plants, petroleum refineries, natural
gas processing plants, and sewage treatment plants. The common
example of a heat exchanger is found in an internal combustion
engine, in which a circulating fluid known as engine coolant flows
through radiator coils and air flows past the coils, cooling the
coolant and releasing the heat generated by the engine, into open
air.
Rapid
growth in power consumption from the industrial sector is further
contributing to the rapid pace of growth for the heat exchanger
market. Condensers are a crucial element of any power station. They
are the interface between the water/steam cycle and the heat sink.
Condenser performances have a direct impact on the power station’s
output and the availability of electric power. Condensers need to
meet sustained high-performance requirements, since any rise in
pressure at the turbine exhaust may cause substantial power loss.
This inevitable category of heat exchanger is implemented in most
power generation plants across the globe. Thus, demand for heat
exchangers will necessarily grow as new power stations are
established.
Moreover,
the fabrication costs of heat exchangers have declined as technology
has progressed. Modern plate heat exchangers use pressed plates,
which are less expensive than the welded plates used on earlier
models. Pressed plates are also more resistant to corrosion and
chemical reactions that could weaken the heat exchanger and hence
require more frequent replacement. Many heat exchanges have even been
modified with particular attention given to the ease of cleaning the
equipment. For example, with plate heat exchangers, one can easily
remove and replace plates individually rather than needing to take
the whole system apart. Moreover, many modern heat exchangers are
very adaptable, which makes them suited for a wide variety of tasks.
Presently, heat exchangers are manufactured with a compact and
efficient design, which makes them useful in mobile applications.
Though early heat exchangers were often as large as a refrigerator,
heat exchangers as of 2011 are as small portable heaters. Heat
exchangers are also quite flexible, because the fluid used to mediate
the thermal exchange can be modified as per design specifications.
This is an integral factor that has a long-term impact on the
operations’ cost of the process plant as well as the equipment.
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This
research study is designed to estimate, analyze, and forecast the
global heat exchanger market. The overall market has been estimated
on the basis of revenue. The research provides in-depth analysis of
manufacturers and suppliers in the heat exchanger industry, which are
involved in the business at various levels of the value chain. The
research includes detailed analysis, historical data, and
statistically refined forecast for the segments covered. On the other
hand, end-user industries that use heat exchangers as a long-term
backup source generally prefer to purchase new ones. As a result,
market size for heat exchangers varies depending on need and
preference of end-user industries.
The
product type analysis for heat exchangers was estimated, keeping in
mind the major construction and expansion projects planned by the
governments across the globe. It was estimated that during harsh
winter weather, project developers generally prefer renting heat
exchangers. However, post construction, operators prefer buying new
units. While conducting the study, we took into consideration the key
construction projects planned till 2020 such as refineries, offshore
installations, large offshore vessels, etc. However, while analyzing
the market for heat exchangers, we found it feasible to do the
analysis only in terms of revenue. We have considered 2013 as the
base year for this study, while all forecasts have been done for 2014
to 2020. Qualitative analysis such as major planned projects and
investment by oil and gas operators were considered while computing
the revenue market size for heat exchangers.
This
research analyzes and estimates the performance and market of heat
exchanger systems in the global scenario, providing detailed trend
analysis of the market by geography and comprehensive analysis of
companies that are dealing in heat exchanger systems. The report
presents a thorough assessment of the strategies followed by
different stakeholders by segmenting the heat exchanger systems
market as below:
Browse
Press Release Of Heat Exchangers Market
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Global
Heat Exchangers Market: Product Type Analysis
- Air Cooled
- Plate and Frame
- Shell and Tube
- Others (Condensers, Oil Coolers, and Radiators)
Global
Heat Exchangers Market: End User Industry Analysis
- HVAC
- Chemicals and Petrochemicals
- Power Generation
- thers (Food Processing, Aerospace, and Medical)
Global
Heat Exchangers Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
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