Heat Exchanger market is likely to witness a revenue of USD 25.91 billion in 2030

The Heat Exchanger Market worth in 2021 was USD 16.32 billion, with a 5.31% CAGR, and it's poised to touch USD 25.91 billion by the year of 2030 according to Strategic Market Research.

New York, United States, Aug. 22, 2022 (GLOBE NEWSWIRE) -- Heat transfer occurs from one medium to the other medium by using heat exchangers. These media could be a gas, a liquid, or a mix of the two. The media may be in direct contact or separated from one another by a solid wall to prevent mixing. The rising demand for thermal management in different sectors like HVAC, Power Generation, Chemical, and Petrochemical industries are fostering its market growth.

To get a first-hand overview of the report, Request a Sample at

Key highlights of Heat Exchanger Market:

  • Shell & Tube segment led the market by a decent share-percentage of 36.22% for the Product Type segment.
  • The Chemical and Petrochemical sector of the End User segment led the market growth comprehensively with a share of 22.93%.
  • For the Regional segment, Europe held the maximum portion of the market share of nearly 32.83%.

Pertinent driving factors of the Heat-Exchanger Market: 

(Rise in usage of heat-exchangers as cooling equipment in industries, advent of highly advanced technologies for boosting industry efficacy, etc.)

  • The heat exchanger is mostly used as cooling equipment in different industries worldwide. These exchangers have the capability to regulate the working temperature of a system effectively, thereby fuelling the growth of the market. SMR's research study delineated that the minimum temperature range should be around 15 degrees Fahrenheit for water-cooled, 20 degrees Fahrenheit for steam-heated, and 25 degrees Fahrenheit for air-cooled heat exchangers, respectively, to operate at their fullest potential.

  • Governments worldwide are sheer focusing on the improvisation of efficacy in their chemical and petrochemical sectors for which they are spending a hefty sum of money. SMR's research study revealed that around 90% of the processes in petrochemical facilities require H.P. temperature regulation. This, in turn, has surged the total demand for heat exchangers exponentially, thereby proliferating the growth of the market. 

Bifurcation Analysis of the Heat-Exchanger Market
The worldwide Heat -Exchanger Market is segregated into Product Type, End User, & Geography.

For Product type: 

  • Shell and Tube
  • Plate and Frame
  • Micro-channel Heat Exchanger
  • Welded Plate & Frame-Heat Exchanger
  • Brazed Plate & Frame-Heat Exchanger
  • Air-Cooled
  • Gasketed Plate & Frame-Heat Exchanger
  • Others

 For End user:

  • Chemical and Petrochemical
  • HVAC and Refrigeration
  • Food and Beverage industry
  • Power Generation
  • Pulp & Paper
  • Oil and Gas
  • Others

By Geography
North-American Region

  • United States 
  • Canada
  • Mexico 
  • The rest of North America

Asia-Pacific Territory

  • New Zealand
  • Japan
  • China
  • Australia
  • South Korea
  • India
  • Vietnam
  • Remaining of the continent of Asia-Pacific


  • Germany/ Deutschland
  • France
  • Russian Federation
  • Italy
  • Polska/Poland
  • United Kingdom
  • Sweden
  • Finland
  • Spain
  • The rest part of the continent of Europe 

The Middle-East, & African territory 

  • Kuwait
  • Qatar
  • UAE
  • South Africa
  • Algeria
  • Saudi Arabia
  • Argentina
  • Egypt
  • Brazil
  • Nigeria
  • Zimbabwe
  • The rest of LAMEA

Make a Direct Purchase of the latest Heat Exchanger market Report published in the month of July 2022. Click the below link to initiate the purchase

Report CoverageDetails
Forecast Period2022-2030
Forecast Period 2021 to 2028 CAGR5.3% 
2030 Value ProjectionUSD 25.9 Billion
Base Year2020 
Market Size in 2021USD 16.32 Billion
Historical Data for2015-2019
No. of Pages135 
Companies General Electric Company, Alfa Laval AB,Kelvion Holding GmbH,Danfoss AS,Hisaka Works Ltd,Exchanger Industries Limited,Mersen,API Heat Transfer, Boyd Corporation,XYLEM,Johnson Controls
Leading Segment Based By Product TypeShell And Tube
 Leading Region Asia-Pacific
Segments coveredBy Product Type, By End-User and By Region

For Product-Type, the 'Shell & Tube' segment led the market by a decent share-percentage of 36.22% or around USD 6.22 Billion in 2021. This is owing to its frequent usage for the purpose of feed-gas cooling in petrochemical industries worldwide. This type of exchanger also utilizes the downflow of the feed gases via the cooling tubes. 

For End user, 'Chemical, and Petrochemical Industries' led the market by a share value of 22.93%. Heat-exchangers are frequently used in chemical industries for resistance to high corrosion, providing flexibility in designs, etc. These properties of heat-exchangers in the chemical industries help them to handle fluids with different pH levels. On the other hand, the higher penetration rate of the petrochemical products in some of the most modern-energy systems like solar panels, Evs, wind-turbine blades, etc., are expected to augment the market growth efficiently. A group of American scientists figured out that each wind turbine requires around 80 gallons of lubricant oil which can adequately be supplied by the petrochemical industries. This oil should be replaced after each year. They also discovered that approximately 3,800 wind turbines are required to power a large city such as N.Y. (New York).

On a regional basis, Europe led the market growth with a 32.83% share in 2021. The German government is investing a huge amount in the manufacturing of more chemical and petrochemical industries around Deutschland. Apart from that, the rising infrastructural investments in the HVAC sector of the U.K., and France are rising the need for heat-exchangers, thereby driving the market growth forward.

Some key players in Heat-Exchanger Market:

Before initiating a purchase, make a Pre-order enquiry and get a detailed overview of the content of the report.

Recent Developments

  • On August 22nd, 2022, L.G. launched its eco-Conscious-Bottom-Freezer, which showed a high-class efficacy at the IFA exhibition 2022. To achieve the 'A' performance rating, L.G. thoroughly improvised the overall structure of its refrigerator's heat exchanger and condenser, as well as enhanced the path of its airflow in order to achieve much more efficient delivery of cold air throughout the entire fridge. 

  • On August 21st, 2022, a group of American scientists stated that concentrated-solar power can be one of the most convenient methods for energy storage in the future. The concentrated-solar power generator consists of a tank that operates at a temperature of around (220-260) Degree Celsius. The molten salt flows into the heat exchanger, where it transfers that heat into the steam turbine at 550 degrees & at a pressure of 13.2 Mpa for the generation of electricity.

  • On August 1st, 2022, the researchers of the Oak-Ridge National Laboratory of USA demonstrated a concrete way to maintain the refrigerant's steady flow in the HVAC units. They demonstrated how the micro-channel heat exchangers used for ventilation, heating, & air-conditioning units have the capability to keep the refrigerants evenly distributed throughout the insertion process of a device known as the PEDMA or piezoelectric-driven magnetic-actuator.

To read the summary of the report, visit the website at

Related Reports

Luxury Furnitures Market
The report on Luxury-Furniture Market publicized by SMR includes various insights regarding its drivers, restraining facts, opportunities, etc. The Luxury-Furniture Market worth resulted in USD XX for 2021 and will grow to USD XX in 2030 with an XX% CAGR. The pertinent factors proliferating the market's growth are a surge in demand for Home furnishings, a rise in construction of luxury apartments worldwide, etc. The most prominent players in this market are Duresta Upholstery, Kannustalo Ltd, Cassina, Giovanni Visentin, Muebles Pico, Ashley Holding, PLC, Scavolini, etc.

Renal Denervation Market
The report on the Renal Denervation Market disseminated by SMR adequately outlines its key drivers, restraints, some prominent opportunities, etc. The Renal Denervation Market summed up around USD 219.49 Million for 2021 and will reach USD 4,743.13 Million in 2030 with a 40.71% CAGR. The key driving factors of this market are the rising cases of hypertension, continuous changes in people's lifestyles, the need for radio-frequency ablations, etc. The important market players include Ablative Solutions, Abbott Laboratories, Johnson & Johnson, Cardiotonic, Boston Scientific Corp, Medtronic, etc. 

Underfloor Heating Market 
The Underfloor Heating Market report catered by SMR elucidates its drivers, opportunities, restraints, and various other pivotal factors. The Underfloor Heating market in 2021 was USD 4.70 Billion and will sum up to USD 8.97 Billion in 2030 with XX% CAGR. Rise in the need for thermal comfort level, the need for cost-effective solutions, etc., are fostering its growth. Key players that are prevailing in this market are Resideo Technologies, Uponor, Danfoss, Daikin, nVent Electric, Rehau, etc.

Electrophysiology Devices Market 
The Electrophysiology Devices Market report laid out by SMR comprises of its various opportunities, restraints, drivers, etc. The Electrophysiology Devices Market share was USD 6.21 billion for 2021 and will value at USD 15.61 billion in 2030 with a 10.81% CAGR. The advent of various electro-physiological devices, increasing cases of cardiac arrhythmia, etc., are fuelling its growth. Some pertinent players in the market are Abbott Laboratories, Biotronik, Boston Scientific Corp, CardioFocus. Koninklijke Philips N.V., etc.

Lung Cancer Therapeutics Market
The Lung Cancer Therapeutics Market report carved by SMR denotes its different crucial factors like restraints, growth opportunities, drivers, etc. The Lung Cancer Therapeutics Market's share value was USD 28.56 billion for 2021 and is predicted to surpass USD 60.72 billion in 2030 with an 8.73% CAGR. The rise in demand for the Targeted Therapies, requirement for highly Efficient Drugs, rise in pollution, Unhealthy Lifestyles, etc., are responsible for the augmentation of this market's growth. The major companies involved here are AstraZeneca, Boehringer Ingelheim, Novartis AG, Merck, etc. 

About Us:
Strategic Market Research facilitates the organizations globally in taking pivotal business decisions by furnishing the Syndicated and Customized Research Reports, which are highly precise in terms of market numbers. We believe that every firm, whether it is a startup which is in the Introduction stage of the Product Life cycle or an established one which is at the growth stage, requires market research services in order to streamline its key business blueprint. It may be related to Product Launch, Go to Market strategies, Competitive Analysis or new geographical penetration and expansion.

Contact Us:
Strategic Market Research LLP.
Sunil Kumar 
India: +91-8260836500
Email: info@strategicmarketresearch.com
Web: https://www.strategicmarketresearch.com
Blog: https://www.strategicmarketresearch.com/blog
Press Release: https://www.strategicmarketresearch.com/press-releases

Connect Us:
LinkedIn: https://www.linkedin.com/company/strategic-market-research/
Twitter: https://twitter.com/smrstrategic
Facebook: https://www.facebook.com/StrategicMarketResearch
Instagram: https://www.instagram.com/strategicmarketresearchsmr/