PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1702459
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1702459
Heat Exchangers Market Size & Share Analysis - Emerging Trends, Growth Opportunities, Competitive Landscape, and Forecasts (2025 - 2032)
The global heat exchangers market is expected to grow from USD 19.7 billion in 2024 to USD 41.9 billion by 2032, expanding at a CAGR of 10%. This growth is driven by the rising demand across industries such as oil & gas, chemical processing, HVAC-R, power generation, and food & beverage. As global energy consumption increases, the need for efficient thermal management and heat recovery systems is becoming more critical. Heat exchangers play a vital role in various industrial applications by optimizing energy usage and improving operational efficiency. The market's growth is also spurred by the ongoing development of energy-efficient devices and rising investments in renewable energy sources.
Key Insights
Material Segmentation: Steel heat exchangers lead the market due to their strength, corrosion resistance, and longevity. Mild and stainless steel are widely used due to their excellent thermal conductivity and ability to withstand high-pressure and high-temperature conditions.
Technological Advancements: The market is experiencing a shift toward more efficient and flexible heat exchanger designs. Hybrid heat exchangers, which combine the benefits of different materials and technologies, are gaining popularity due to their compact size and superior efficiency. These innovations help meet the increasing demand for energy-efficient solutions across various industries.
Industry Applications: The chemical and petrochemical industries are the largest users of heat exchangers, as they require effective heat management in chemical processes and reactions. The oil and gas sector, driven by increased LNG and gas processing activities, also contributes significantly to the market's growth.
Regional Growth: The Asia-Pacific (APAC) region is expected to be the fastest-growing market due to rapid industrialization, increased energy demand, and expanding chemical and petrochemical sectors. North America and Europe continue to be major markets due to stringent energy regulations and advanced industrial infrastructure.
Renewable Energy: The growing adoption of renewable energy, including nuclear and solar power, is fueling the demand for heat exchangers. These industries require efficient heat transfer solutions to optimize energy production and reduce environmental impact.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by material
- 1.4.2. Market size breakdown, by product
- 1.4.3. Market size breakdown, by end user
- 1.4.4. Market size breakdown, by region
- 1.4.5. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Revenue, by Material (2019-2030)
- 6.3. Market Revenue, by Product (2019-2030)
- 6.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 6.4. Market Revenue, by End User (2019-2030)
- 6.5. Market Revenue, by Region (2019-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Revenue, by Material (2019-2030)
- 7.3. Market Revenue, by Product (2019-2030)
- 7.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 7.4. Market Revenue, by End User (2019-2030)
- 7.5. Market Revenue, by Country (2019-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Revenue, by Material (2019-2030)
- 8.3. Market Revenue, by Product (2019-2030)
- 8.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 8.4. Market Revenue, by End User (2019-2030)
- 8.5. Market Revenue, by Country (2019-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Revenue, by Material (2019-2030)
- 9.3. Market Revenue, by Product (2019-2030)
- 9.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 9.4. Market Revenue, by End User (2019-2030)
- 9.5. Market Revenue, by Country (2019-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Revenue, by Material (2019-2030)
- 10.3. Market Revenue, by Product (2019-2030)
- 10.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 10.4. Market Revenue, by End User (2019-2030)
- 10.5. Market Revenue, by Country (2019-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Revenue, by Material (2019-2030)
- 11.3. Market Revenue, by Product (2019-2030)
- 11.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 11.4. Market Revenue, by End User (2019-2030)
- 11.5. Market Revenue, by Country (2019-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Revenue, by Material (2019-2030)
- 12.3. Market Revenue, by Product (2019-2030)
- 12.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 12.4. Market Revenue, by End User (2019-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Revenue, by Material (2019-2030)
- 13.3. Market Revenue, by Product (2019-2030)
- 13.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 13.4. Market Revenue, by End User (2019-2030)
- 13.5. Germany Market
- 13.6. Overview
- 13.7. Market Revenue, by Material (2019-2030)
- 13.8. Market Revenue, by Product (2019-2030)
- 13.8.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 13.9. Market Revenue, by End User (2019-2030)
- 13.10. France Market
- 13.11. Overview
- 13.12. Market Revenue, by Material (2019-2030)
- 13.13. Market Revenue, by Product (2019-2030)
- 13.13.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 13.14. Market Revenue, by End User (2019-2030)
- 13.14.1. Maritime market revenue, by type (2019-2030)
Chapter 14. U.K. Market
- 14.1. Overview
- 14.2. Market Revenue, by Material (2019-2030)
- 14.3. Market Revenue, by Product (2019-2030)
- 14.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 14.4. Market Revenue, by End User (2019-2030)
- 14.4.1. Maritime market revenue, by type (2019-2030)
Chapter 15. Italy Market
- 15.1. Overview
- 15.2. Market Revenue, by Material (2019-2030)
- 15.3. Market Revenue, by Product (2019-2030)
- 15.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 15.4. Market Revenue, by End User (2019-2030)
- 15.4.1. Maritime market revenue, by type (2019-2030)
Chapter 16. Spain Market
- 16.1. Overview
- 16.2. Market Revenue, by Material (2019-2030)
- 16.3. Market Revenue, by Product (2019-2030)
- 16.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 16.4. Market Revenue, by End User (2019-2030)
- 16.4.1. Maritime market revenue, by type (2019-2030)
Chapter 17. Japan Market
- 17.1. Overview
- 17.2. Market Revenue, by Material (2019-2030)
- 17.3. Market Revenue, by Product (2019-2030)
- 17.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 17.4. Market Revenue, by End User (2019-2030)
Chapter 18. China Market
- 18.1. Overview
- 18.2. Market Revenue, by Material (2019-2030)
- 18.3. Market Revenue, by Product (2019-2030)
- 18.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 18.4. Market Revenue, by End User (2019-2030)
Chapter 19. India Market
- 19.1. Overview
- 19.2. Market Revenue, by Material (2019-2030)
- 19.3. Market Revenue, by Product (2019-2030)
- 19.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 19.4. Market Revenue, by End User (2019-2030)
Chapter 20. Australia Market
- 20.1. Overview
- 20.2. Market Revenue, by Material (2019-2030)
- 20.3. Market Revenue, by Product (2019-2030)
- 20.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 20.4. Market Revenue, by End User (2019-2030)
Chapter 21. South Korea Market
- 21.1. Overview
- 21.2. Market Revenue, by Material (2019-2030)
- 21.3. Market Revenue, by Product (2019-2030)
- 21.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 21.4. Market Revenue, by End User (2019-2030)
Chapter 22. Brazil Market
- 22.1. Overview
- 22.2. Market Revenue, by Material (2019-2030)
- 22.3. Market Revenue, by Product (2019-2030)
- 22.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 22.4. Market Revenue, by End User (2019-2030)
Chapter 23. Mexico Market
- 23.1. Overview
- 23.2. Market Revenue, by Material (2019-2030)
- 23.3. Market Revenue, by Product (2019-2030)
- 23.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 23.4. Market Revenue, by End User (2019-2030)
Chapter 24. Saudi Arabia Market
- 24.1. Overview
- 24.2. Market Revenue, by Material (2019-2030)
- 24.3. Market Revenue, by Product (2019-2030)
- 24.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 24.4. Market Revenue, by End User (2019-2030)
Chapter 25. South Africa Market
- 25.1. Overview
- 25.2. Market Revenue, by Material (2019-2030)
- 25.3. Market Revenue, by Product (2019-2030)
- 25.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 25.4. Market Revenue, by End User (2019-2030)
Chapter 26. U.A.E. Market
- 26.1. Overview
- 26.2. Market Revenue, by Material (2019-2030)
- 26.3. Market Revenue, by Product (2019-2030)
- 26.3.1. Plate and frame heat exchanger market revenue, by type (2019-2030)
- 26.4. Market Revenue, by End User (2019-2030)
Chapter 27. Competitive Landscape
- 27.1. List of Market Players and their Offerings
- 27.2. Competitive Benchmarking of Key Players
- 27.3. Product Benchmarking of Key Players
- 27.4. Recent Strategic Developments
Chapter 28. Company Profiles
- 28.1. ALFA LAVAL
- 28.1.1. Business overview
- 28.1.2. Product and service offerings
- 28.1.3. Key financial summary
- 28.2. Danfoss
- 28.2.1. Business overview
- 28.2.2. Product and service offerings
- 28.2.3. Key financial summary
- 28.3. Kelvion Holding GmbH
- 28.3.1. Business overview
- 28.3.2. Product and service offerings
- 28.3.3. Key financial summary
- 28.4. Guntner GmbH & Co. KG
- 28.4.1. Business overview
- 28.4.2. Product and service offerings
- 28.4.3. Key financial summary
- 28.5. API Heat Transfer
- 28.5.1. Business overview
- 28.5.2. Product and service offerings
- 28.5.3. Key financial summary
- 28.6. Mersen
- 28.6.1. Business overview
- 28.6.2. Product and service offerings
- 28.6.3. Key financial summary
- 28.7. HISAKA WORKS, LTD.
- 28.7.1. Business overview
- 28.7.2. Product and service offerings
- 28.7.3. Key financial summary
- 28.8. Chart Industries
- 28.8.1. Business overview
- 28.8.2. Product and service offerings
- 28.8.3. Key financial summary
Chapter 29. Appendix
- 29.1. Abbreviations
- 29.2. Sources and References
- 29.3. Related Reports
