PUBLISHER: Grand View Research | PRODUCT CODE: 1588347
PUBLISHER: Grand View Research | PRODUCT CODE: 1588347
U.S. Heat Exchangers Market Size, Share & Trends Analysis Report By Product (Shell & Tube, Air-Cooled), By Material, By End-use (Food & Beverage, Pulp & Paper), And Segment Forecasts, 2025 - 2030
U.S. Heat Exchangers Market Growth & Trends:
The U.S. heat exchangers market size is estimated to reach USD 3861.3 million by 2030, registering to grow at a CAGR of 5.1% from 2025 to 2030 according to a new report by Grand View Research, Inc. The surging demand for heat exchangers to achieve efficient thermal management in industries such as oil & gas, power generation, food & beverage, chemical, and petrochemical is likely to drive the growth of the market over the forecast period.
The rising domestic end-use industries in the U.S. are a significant factor supporting the growth of the chemical sector in the United States. Heat exchangers are necessary for heating, cooling, and mixing materials during the manufacture of chemicals. The rapid expansion of the chemical industry in the U.S. is expected to significantly fuel the U.S. market.
Furthermore, the companies in the U.S. are focusing on the circular economy and with an emphasis on investments in green and sustainable chemicals. With a growing emphasis on sustainability, key players are focused on energy-efficient solutions to reduce greenhouse gas emissions and lower carbon footprints. For instance, SPX FLOW, Inc. provides heat exchangers with low energy usage that use CO2 as a highly efficient cooling medium.
The U.S. market growth is also propelled by the growing utilization of the energy sector. According to the International Energy Agency, in 2022, the total electricity generation from utility-scale generators in the U.S. was around 4,243 billion kilowatts and about 60% of the electricity generated was generated from fossil fuels (coal, natural gas, and petroleum). The total net electricity generation in 2021 was around 4,109 billion kilowatts.
Moreover, innovation and technological improvements, such as phase-change technology with the sustainable aspect in the air-cooled heat exchangers, may entail innovative designs. In addition, improvements in the regulatory framework in various end-use industries are likely to facilitate such innovation providing environmentally sound technologies for heat transfer.
Key players in the market are actively engaged in R&D expenditure activities, product launches, mergers & acquisitions, and joint ventures to achieve higher market position and revenue generation. For instance, in February 2023, ALFA LAVAL announced the investment plans to further support the global energy transition. Through this initiative, the company seeks to invest USD 343.7 million (SEK 3.8 billion) in a capacity expansion program for heat exchangers in services, production, and distribution capacity in Sweden, Italy, the U.S., and China.
U.S. Heat Exchangers Market Report Highlights:
- Based on product, the plate & frame segment is anticipated to register the fastest CAGR during the forecast period. Various applications of the heat exchanger in power generation, food & beverage, chemical & petrochemical industry, etc. are expected to drive the demand of the segment facilitated by the industry growth.
- Based on product, the shell & tube segment held a significant market share of 35.3% in 2024. Technological advancements in the shell & tube heat exchangers in terms of efficient design and material are expected to impact the adoption of the newly developed heat exchangers in various industries.
- In terms of end-use, the chemical & petrochemical segment held the largest market share of 25.1% in 2024. The large usage of heat exchangers for thermal control operations in the chemical and petrochemical industry is of prime importance.
- Based on end-use, the HVAC & refrigeration segment is anticipated to grow at a significant CAGR during the forecast period. The growth is highly driven by the robust growth of construction projects across the country.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Scope and Assumptions
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segmental Outlook
- 2.3. Competitive Insights
Chapter 3. U.S. Heat Exchanger Market Variables, Trends, & Scope
- 3.1. Market Segmentation & Scope
- 3.2. Concentration & Growth Prospect Mapping
- 3.3. Industry Value Chain Analysis
- 3.4. Regulatory Framework
- 3.5. Technology Overview
- 3.6. U.S. Heat Exchanger Market - Market dynamics
- 3.6.1. Market Driver Analysis
- 3.6.2. Market Restraint Analysis
- 3.6.3. Market Opportunity Analysis
- 3.6.4. Market Challenge Analysis
- 3.7. Industry Analysis Tools: U.S. Heat Exchanger Market
- 3.7.1. Porter's Analysis
- 3.7.2. Macroeconomic Analysis
- 3.8. Economic Mega Trends Analysis
Chapter 4. U.S. Heat Exchanger Market: Product Estimates & Trend Analysis
- 4.1. U.S. Heat Exchanger Market: Product Movement Analysis, 2024 & 2030
- 4.2. Plate & Frame
- 4.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.2.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 4.3. Shell & Tube
- 4.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4. Air-cooled
- 4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.5. Others
- 4.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 5. U.S. Heat Exchanger Market: Power Estimates & Trend Analysis
- 5.1. U.S. Heat Exchanger Market: Power Movement Analysis, 2024 & 2030
- 5.2. Metals
- 5.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.3. Alloys
- 5.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.4. Others
- 5.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 6. U.S. Heat Exchanger Market: End-use Estimates & Trend Analysis
- 6.1. U.S. Heat Exchanger Market: End-use Movement Analysis, 2024 & 2030
- 6.2. Chemical & Petrochemical
- 6.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3. Oil & Gas
- 6.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4. HVAC & refrigeration
- 6.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5. Power Generation
- 6.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.6. Food & Beverage
- 6.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.7. Pulp & Paper
- 6.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.8. Others
- 6.8.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 7. U.S. Heat Exchanger Market: Competitive Analysis
- 7.1. Recent Developments & Impact Analysis, By Key Market Participants
- 7.2. Company Categorization
- 7.3. Participant's Overview
- 7.4. Financial Overview
- 7.5. Product Benchmarking
- 7.6. Company Market Positioning
- 7.7. Company Market Share Analysis, 2024
- 7.8. Company Heat Map Analysis, 2024
- 7.9. Strategy Mapping
- 7.10. Company Profiles
- 7.10.1. Mersen
- 7.10.1.1. Participant's overview
- 7.10.1.2. Financial performance
- 7.10.1.3. Product benchmarking
- 7.10.1.4. Recent developments
- 7.10.2. Chart Industries
- 7.10.2.1. Participant's overview
- 7.10.2.2. Financial performance
- 7.10.2.3. Product benchmarking
- 7.10.2.4. Recent developments
- 7.10.3. Koch Heat Transfer Company
- 7.10.3.1. Participant's overview
- 7.10.3.2. Financial performance
- 7.10.3.3. Product benchmarking
- 7.10.3.4. Recent developments
- 7.10.4. SHECO Industries, Inc.
- 7.10.4.1. Participant's overview
- 7.10.4.2. Financial performance
- 7.10.4.3. Product benchmarking
- 7.10.4.4. Recent developments
- 7.10.5. HEATTRAN
- 7.10.5.1. Participant's overview
- 7.10.5.2. Financial performance
- 7.10.5.3. Product benchmarking
- 7.10.5.4. Recent developments
- 7.10.6. ALFA LAVAL
- 7.10.6.1. Participant's overview
- 7.10.6.2. Financial performance
- 7.10.6.3. Product benchmarking
- 7.10.6.4. Recent developments
- 7.10.7. Kelvion Holding GmbH
- 7.10.7.1. Participant's overview
- 7.10.7.2. Financial performance
- 7.10.7.3. Product benchmarking
- 7.10.7.4. Recent developments
- 7.10.8. Xylem
- 7.10.8.1. Participant's overview
- 7.10.8.2. Financial performance
- 7.10.8.3. Product benchmarking
- 7.10.8.4. Recent developments
- 7.10.9. API Heat Transfer
- 7.10.9.1. Participant's overview
- 7.10.9.2. Financial performance
- 7.10.9.3. Product benchmarking
- 7.10.9.4. Recent developments
- 7.10.10. Mason Manufacturing LLC
- 7.10.10.1. Participant's overview
- 7.10.10.2. Financial performance
- 7.10.10.3. Product benchmarking
- 7.10.10.4. Recent developments
- 7.10.1. Mersen
List of Tables
- Table 1 U.S. Heat Exchanger Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- Table 2 U.S. Heat Exchanger Market estimates and forecasts, by material, 2018 - 2030 (USD Million)
- Table 3 U.S. Heat Exchanger Market estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
List of Figures
- Fig. 1 Market Segmentation & Scope
- Fig. 2 Information Procurement
- Fig. 3 Data Analysis Models
- Fig. 4 Market Formulation And Validation
- Fig. 5 Data Validating & Publishing
- Fig. 6 Market Snapshot
- Fig. 7 Segment Snapshot
- Fig. 8 Competitive Landscape Snapshot
- Fig. 9 Penetration And Growth Prospect Mapping
- Fig. 10 Value Chain Analysis
- Fig. 11 Market Dynamics
- Fig. 12 U.S Heat Exchanger Market Porter's Analysis
- Fig. 13 U.S Heat Exchanger Market Pestel Analysis
- Fig. 14 U.S Heat Exchanger Market, By Product: Key Takeaways
- Fig. 15 U.S Heat Exchanger Market: Product Movement Analysis & Market Share, 2024 & 2030
- Fig. 16 Shell & Tube Heat Exchanger Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 17 Shell & Tube Heat Exchanger Market Estimates & Forecasts, By Product, 2018 - 2030 (USD Million)
- Fig. 18 Air-Cooled Heat Exchanger Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 19 Plate & Frame Heat Exchanger Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 20 Others Heat Exchanger Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 21 US Heat Exchanger Market, By Material: Key Takeaways
- Fig. 22 US Heat Exchanger Market: Material Movement Analysis & Market Share, 2024 & 2030
- Fig. 23 Metals Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 24 Alloys Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 25 Other Material Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 26 US Heat Exchanger Market, By End-Use: Key Takeaways
- Fig. 27 US Heat Exchanger Market: End-Use Movement Analysis & Market Share, 2024 & 2030
- Fig. 28 Chemical & Petrochemical Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 29 Oil & Gas Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 30 HVAC & refrigeration Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 31 Power Generation Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 32 Food & Beverage Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 33 Pulp & Paper Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- Fig. 34 Others Market Estimates & Forecasts, 2018 - 2030 (USD Million)
