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GLOBAL HEAT EXCHANGER MARKET
FORECAST & OPPORTUNITIES
2016 – 2026
MARKET INTELLIGENCE . CONSULTING
www.techsciresearch.com
2
Scope of ReportProduct of Interest (POI): Heat Exchanger
Review Period
2016 – 2019
Base Year
2020
Estimated Year
2021
Forecast Period
2022 – 2026
Year RangeHEAT EXCHANGER MARKET
REGION
• North America
• Europe
• Middle East & Africa
• Asia Pacific
• South America
Heat exchanger is a device which transfers heat between two or more fluids. Conductionprocess is used to transfer heat between exchanger materials which separate the mediumsbeing used for the process. Heat exchangers have diverse end-use ranging from spaceheating, refrigeration, air conditioning, power stations, petrochemical plants, among others.
Market Segmentation
END USER INDUSTRY
• Chemical
• Petrochemical
• Oil & Gas
• HVACR
• Food & Beverage
• Power Generation
• Others
PRODUCT TYPE
• Plate & Frame
• Shell & Tube
• Air Cooled
MATERIAL
• Carbon Steel
• Stainless Steel
• Nickel
• Others
3
Table of Contents
S. No. Contents Page No.
1. Product Overview (Definition of product and major terminologies used in the report)
2.Research Methodology (Detailed description of the methodology used to conduct the research, Rawdata backup, list of all secondary sources, List of respondents for primary surveys)
3. Impact of COVID-19 on Global Heat Exchanger Market
4. Executive Summary (This chapter covers summary of the complete study.)
5.
Global Heat Exchanger Market Outlook, 2016-2026F (This chapter includes a brief overview of the product of interest market such as total market’s growth rate, expected growth rate, key growth levers, leading region, top grossing product types, etc. It includes more of a qualitative information about the market.)
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Product Type (Plate & Frame {Brazed, Gasketed, Welded}, Shell & Tube, Air Cooled)
5.2.2. By Material (Carbon Steel, Stainless Steel, Nickel, and Others)
5.2.3.By End-User (Chemical, Petrochemical, Oil & Gas, HVACR, Food & Beverage, Power Generation, and Others)
5.2.4. By Company (2020)
5.2.5.By Region (Asia-Pacific, Europe, North America, South America and Middle East & Africa)
5.3. Product Market Map
6. Asia-Pacific Heat Exchanger Market Outlook, 2016-2026F
4
Table of Contents
S. No. Contents Page No.
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Product Type
6.2.2. By Material
6.2.3. By End-User
6.2.4. By Country (China, India, Japan, South Korea, Australia)
6.3. Asia-Pacific: Country Analysis
6.3.1. China Heat Exchanger Market Outlook, 2016-2026F
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value & Volume
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Product Type
6.3.1.2.2. By Material
6.3.1.2.3. By End-User
6.3.2. India Heat Exchanger Market Outlook, 2016-2026F
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Table of Contents
S. No. Contents Page No.
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value & Volume
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Product Type
7.3.2.2.2. By Material
7.3.2.2.3. By End-User
7.3.3. Japan Heat Exchanger Market Outlook, 2016-2026F
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value & Volume
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Product Type
7.3.3.2.2. By Material
7.3.3.2.3. By End-User
7.3.4. South Korea Heat Exchanger Market Outlook, 2016-2026F
7.3.4.1. Market Size & Forecast
6
Table of Contents
S. No. Contents Page No.
8.2. Market Share & Forecast
8.2.1. By Product Type
8.2.2. By Material
8.2.3. By End-User
8.2.4. By Country (France, Germany, United Kingdom, Italy, Spain)
8.3. Europe: Country Analysis
8.3.1. France Heat Exchanger Market Outlook, 2016-2026F
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value & Volume
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Product Type
8.3.1.2.2. By Material
8.3.1.2.3. By End-User
8.3.2. Germany Heat Exchanger Market Outlook, 2016-2026F
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value & Volume
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Table of Contents
S. No. Contents Page No.
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Product Type
8.3.2.2.2. By Material
8.3.2.2.3. By End-User
8.3.3. United Kingdom Heat Exchanger Market Outlook, 2016-2026F
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value & Volume
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Product Type
8.3.3.2.2. By Material
8.3.3.2.3. By End-User
8.3.4. Italy Heat Exchanger Market Outlook, 2016-2026F
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value & Volume
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Product Type
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Table of Contents
S. No. Contents Page No.
8.3.4.2.1. By Product Type
8.3.4.2.2. By Material
8.3.4.2.3. By End-User
8.3.5. Spain Heat Exchanger Market Outlook, 2016-2026F
8.3.5.1. Market Size & Forecast
8.3.5.1.1 By Value & Volume
8.3.5.2. Market Share & Forecast
8.3.5.2.1 By Product Type
8.3.5.2.2 By Material
8.3.5.2.3 By End-User
9. North America Heat Exchanger Market Outlook, 2016-2026F
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Product Type
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Table of Contents
S. No. Contents Page No.
9.2.2. By Material
9.2.3. By End-User
9.2.4. By Country (United States, Canada, Mexico)
9.3. North America: Country Analysis
9.3.1. United States Heat Exchanger Market Outlook, 2016-2026F
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value & Volume
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Product Type
9.3.1.2.2. By Material
9.3.1.2.3. By End-User
9.3.2. Canada Heat Exchanger Market Outlook, 2016-2026F
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value & Volume
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Product Type
9.3.2.2.2. By Material
9.3.2.2.3. By End-User
9.3.3. Mexico Heat Exchanger Market Outlook, 2016-2026F
9.3.3.1. Market Size & Forecast
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Table of Contents
S. No. Contents Page No.
9.3.3.1.1. By Value & Volume
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Product Type
9.3.3.2.2. By Material
9.3.3.2.3. By End-User
10. South America Heat Exchanger Market Outlook, 2016-2026F
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Product Type
10.2.2. By Material
10.2.3. By End-User
10.2.4. By Country (Brazil, Argentina, Colombia)
10.3. South America: Country Analysis
10.3.1. Brazil Heat Exchanger Market Outlook, 2016-2026F
10.3.1.1. Market Size & Forecast
10.3.1.1.1 By Value & Volume
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Table of Contents
S. No. Contents Page No.
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Product Type
10.3.1.2.2. By Material
10.3.1.2.3. By End-User
10.3.2. Argentina Heat Exchanger Market Outlook, 2016-2026F
10.3.2.1. Market Size & Forecast
10.3.2.1.1 By Value & Volume
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Product Type
10.3.2.2.2. By Material
10.3.2.2.3. By End-User
10.3.3. Colombia Heat Exchanger Market Outlook, 2016-2026F
10.3.3.1. Market Size & Forecast
10.3.3.1.1 By Value & Volume
10.3.3.2. Market Share & Forecast
10.3.3.2.1. By Product Type
10.3.2.2.2. By Material
10.3.2.2.3. By End-User
12
Table of Contents
S. No. Contents Page No.
11. Middle East & Africa Heat Exchanger Market Outlook, 2016-2026F
11.1. Market Size & Forecast
11.1.1. By Value & Volume
11.2. Market Share & Forecast
11.2.1. By Product Type
11.2.2. By Material
11.2.3. By End-User
11.2.4. By Country (Saudi Arabia, South Africa, UAE, Kuwait)
11.3. Middle East & Africa : Country Analysis
11.3.2.1 Saudi Arabia Heat Exchanger Market Outlook, 2016-2026F
11.3.1.1. Market Size & Forecast
11.3.1.1.1. By Value & Volume
11.3.1.2. Market Share & Forecast
11.3.1.2.1. By Product Type
11.3.1.2.2. By Material
11.3.1.2.3. By End-User
11.3.2. UAE Heat Exchanger Market Outlook, 2016-2026F
11.3.2.1. Market Size & Forecast
11.3.2.1.1. By Value & Volume
11.3.2.2. Market Share & Forecast
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Table of Contents
S. No. Contents Page No.
11.3.2.2.1. By Offering
11.3.2.2.2. By Frequency
11.3.2.2.3. By Vertical
11.3.3. South Africa Heat Exchanger Market Outlook, 2016-2026F
11.3.3.1. Market Size & Forecast
11.3.3.1.1. By Value & Volume
11.3.3.2. Market Share & Forecast
11.3.3.2.1. By Product Type
11.3.3.2.2. By Material
11.3.3.2.3. By End-User
11.3.4. Kuwait Heat Exchanger Market Outlook, 2016-2026F
11.3.4.1. Market Size & Forecast
11.3.4.1.1. By Value & Volume
11.3.4.2. Market Share & Forecast
11.3.4.2.1. By Product Type
11.3.4.2.2. By Material
11.3.4.2.3. By End-User
12. Market Dynamics
12.1. Drivers
12.2. Challenges
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Table of Contents
S. No. Contents Page No.
13. Market Trends & Developments
14. Competitive Landscape
14.1. Competition Outlook
14.2. Company Profiles (Top 10 Market Players)
14.2.1. Company Details
14.2.2. Products & Services
14.2.3. Financials (As Reported)
14.2.4. Key Market Focus & Geographical Presence
14.2.5. Recent Developments
14.2.6. Key Management Personnel
15. Strategic Recommendations
16. About Us & Disclaimer
RESEARCH METHODOLOGY
16
Research Methodology
✓ Identifying Key Opinion
Leaders
✓ Questionnaire Design
✓ In-depth Interviews
Data Collection
Developing List of Respondents
Formulating Questionnaire
Market Profiling
Data Validation
Data Analysis
In-depth secondary research was conducted to
determine top players in the global heat exchanger
market, overall market size and segmental market size.
In order to conduct industry experts’
interviews, TechSci formulated a detailed
discussion guide.
List of industry players and industry
specialists was developed.
TechSci conducted interviews with
industry experts and industry players for data collection and
verification.
Data obtained as a result of primary and secondary research was
validated through rigorous
triangulation.
The data was scrutinized using MS-Excel, statistical
tools and internal proprietary database to obtain qualitative and
quantitative insights about the global heat exchanger
market.
Data Collection
Data Filter& Analysis
Research &Intelligence
ActionableInsights
BusinessSolution
Primary Research Desk Research Company Analysis
✓ Recent Developments
✓ Market Changing
Aspects/Dynamics
✓ Government Policies
✓ Conclusion
✓ Market Participants
✓ Key Strengths
✓ LinkedIn✓ TechSci Internal
Database
✓ Factiva✓ Hoovers
Paid Sources
✓ Company Websites✓ Company Annual
Reports✓ White Paper Study✓ Financial Reports✓ Investor
Presentations✓ Regulatory Body✓ Associations, etc.
Secondary Research
Primary Research
17
Research Methodology
Baseline Methodology
Our dedicated team of industry experts has monitored and analyzed various aspects of the global heat exchanger market. The team has
analyzed the outlook of various segments of this market, while considering the major influencing factors such as increasing usage of heat
exchanger in oil and gas industries, among others.The study includes market forecasting, which would enable our clients to take better
decisions while planning their strategy to achieve sustainability in the global heat exchanger market.
Methodology Followed for Calculation of Market Size:
• Market Size by Value & Volume : Market size, in terms of value, for the year 2020 was calculated based on information collected through
exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as heat exchanger system
manufacturers, channel partners, market influencers & end users, industry experts, and other industry participants.
• The team interviewed more than 15 – 20 heat exchanger system manufacturers, 100 – 120 end users, and 15 – 20 industry experts and
other value chain stakeholders in the global heat exchanger market to obtain the overall market size from 2016 to 2020, which was validated
by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data
during 2016-2020.
18
Research Methodology
• Respondents were asked about the current and future market growth rates, market shares by product type, material, end-user, by each
region, and by company. Removing the outlier responses, the geometric mean of growth estimates and provider wise revenue shares
generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various type
were further triangulated from other stakeholders.
Methodology Followed for Calculation of Market Shares:
• Market shares by product type, material, end-user, by each region, and by company were calculated based on the responses received
through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from
various types of heat exchanger. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion
leaders after eliminating the outliers.
Methodology Followed for Forecasting:
• TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in
SPSS/Tableau Software.
• Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast global heat
exchanger market, TechSci Research used various forecast techniques such as:
✓ Moving Average
✓ Time Series Analysis
✓ Regression Analysis
✓ Econometric and Judgmental Analysis
19
Research Methodology
TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research
also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It
should be noted that the figures compiled are only for the organized market including market share data. The currency used in the report is the
United States Dollar (USD), with the market size indicated in USD million.
Partial List of Companies Interviewed Key Secondary Sources
▪ ALFA Laval AB
▪ GEA Group Aktiengesellschaft
▪ Xylem Incorporated
▪ SPX Corporation
▪ Danfoss
▪ Hamon & Cie (International) SA
▪ Modine Manufacturing Company
▪ FUNKE Wärmeaustauscher Apparatebau GmbH
▪ Sondex Holding
▪ API Heat Transfer Incorporated
▪ World Bank
▪ International Monetary Fund (IMF)
▪ TechSci Research Proprietary Database & Knowledge
Repository
▪ Company Annual Reports
▪ Industry Magazines
▪ Industry Reports
▪ News Dailies
▪ Credible Paid Databases
20
Industry Brief
According to TechSci Research report, “Global Graphite Heat Exchanger Market By Product, By End User, By
Region, Competition, Forecast & Opportunities, 2024”, global graphite heat exchanger market is projected to grow
at a CAGR of over 7% during 2019-2024. Anticipated growth in the market can be attributed to graphite heat
exchangers’ environment friendly nature and various advantages such as high operating efficiency and reduced
energy consumption. Graphite heat exchangers are used across a wide range of applications, including chemical
plants, petroleum refineries, petrochemical plants and food processing plants. Graphite is one of the most cost-
effective materials to be used, thereby positively influencing global graphite heat exchanger market during the
forecast period.
By end user, global graphite heat exchanger market has been categorized into chemical, petrochemical, metal
surface treatment, pharmaceutical, food & beverages and other industries. The chemical industry led the market in
2018 and is expected to account for majority of the global market in coming years, owing to growing demand for
chemicals in emerging economies. Asia-Pacific dominated global heat exchanger market over the past few years
and is likely to maintain its leading market position during 2019-2024, on account of increasing government
spending on activities in the oil & gas sector. Moreover, growing need from chemicals and hydrocarbons sectors
would drive the region’s graphite heat exchanger market during the forecast period.
“Demand for graphite heat exchangers is growing rapidly, owing to power requirement for commercial and non-
commercial purposes, on account of rising population and economic growth in developing nations. Rapid
industrialization in developing countries of Asia-Pacific like India, China and Japan is expected to offer lucrative
growth opportunities to players operating in graphite heat exchanger market over the coming years.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
21
Sample Data - Snapshot
Global Heat Exchanger Market Size, By Value (USD Million) & Volume (Million Units), 2016–2026F
5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00
10.00 20.00 30.00 40.00 50.00 60.00 70.00 80.00 90.00 100.00 110.00
2016 2020 2021E 2026F
By Value (USD Million)
By Volume (Million Units)
CAGR By Value & Volume
XX%CAGR By Value & Volume
YY%
34%34%34%34%34%34%34%34%34%34%34%
33%33%33%33%33%33%33%33%33%33%33%
33%33%33%33%33%33%33%33%33%33%33%
2016
2017
2018
2019
2020
2021E
2022F
2023F
2024F
2025F
2026F
Plate & Frame Shell & Tube Air Cooled
Europe Heat Exchanger Market Share, By Product Type, By Value, 2016–2026F
25%25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
2016
2017
2018
2019
2020
2021E
2022F
2023F
2024F
2025F
2026F
Carbon Steel Stainless Steel Nickel Others
Germany Heat Exchanger Market Share, By Material, By Value, 2016–2026F
22
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Report Name: GLOBAL HEAT EXCHANGER MARKET
FORECAST & OPPORTUNITIES2016 – 2026
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About Us & Disclaimer
TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in
number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The
proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’
model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich
evaluation of the opportunities available in the market.
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The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely,accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considersreliable and firsthand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors oromissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of thisreport. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative marketsize and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.
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