Heat exchanger are devices responsible for transfer of heat, from one fluid to another and transfer of heat between solid particulates and fluid. These are used in cooling applications, such as in refrigeration and air-conditioners. They are distinguished on the basis of direction of flow of liquids. Therefore, depending on the flow of liquid these exchangers can be parallel-flow, cross-flow, or countercurrent. Moreover, some heat exchangers comprise multiple tubes whereas, some consist of hot plates with space for liquid to flow between them. In addition, they consist of heat transfer elements such as a core or matrix containing the heat transfer surface, and fluid distribution elements such as headers, manifolds, tanks, inlet, outlet nozzles or pipes, and seals. Furthermore, these are often used in the process, power, petroleum, air-conditioning, refrigeration, cryogenic, heat recovery, alternative fuel, and manufacturing industries, serving as key components of many industrial products.
The market for heat exchangers has considerably grown in the recent years in developing nations such as China, India, and Japan, owing to increase in investments in chemicals, petrochemicals, oil & gas, and heat ventilation and air conditioning and refrigeration (HVACR) industries. Moreover, shell & tube heat exchangers have enhanced demand across aforementioned regions, owing to its wide operating pressure, temperature range, and growth of chemical industry. In addition, high purity standards, stringent environmental regulations, surge of energy demand in Asia-Pacific and LAMEA drive the shell & tube heat exchangers market on a very large scale. The heat exchangers market was valued at $12,611 million in 2015, and is expected to reach $20,118 million by 2022. However, the increase in cost of raw materials used for shell & tube heat exchangers manufacturing is expected to inhibit the growth to some extent.
The shell & tube heat exchangers are process equipment’s that facilitate the exchange of heat between two fluids, which are at different temperatures while they restrict the blending of liquids. In addition, emerging trends that have a direct impact on the dynamics of the chemical industry include development of waste heat recovery heat exchangers and introduction of exhaust gas re-circulation coolers. The demand for heat exchangers is also expected to surge, with the growth of chemical, petrochemical, and oil & gas industries. In addition, rise in number of oil-field projects and development in infrastructure augment the market growth. However, the heat exchanger market is expected to decline with the entry of new vendors and startups.
The heat exchanger market is segmented based on type, end-user industry, material of construction, and geography. Based on type segment, the market is classified into shell & tube, plate & frame, air-cooled, micro-channel, and others (gasketed, welded, brazed, and finned tube). The plate & frame type segment registered significant growth during 2014 and is expected to grow throughout the forecasted years. The oil and gas industry segment is estimated to grow at a significant CAGR of 6.7% during the forecast period. By material of construction, the market is segmented into carbon-steel, stainless-steel, nickel and others (nickel alloys, copper, titanium, molybdenum). Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe accounted for more than one-fourth share of the total revenue in 2015, followed by Latin America and Asia-Pacific.
Key market players have invested in R&D activities to develop advanced products to cater to the demand for end users. The key players in the heat exchangers market include:
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Type
By End-User Industry
By Material of Construction
By Geography
Other players in the value chain (profiles not included in the report) include: -
*The above list of companies is not profiled in the report, but can be added based on client interest.
CHAPTER 1. INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENT
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tool & Model
CHAPTER 2. EXECUTIVE SUMMARY
2.1. MARKET SNAPSHOT
2.2. CXO PERSPECTIVES
CHAPTER 3. MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top Investment Pockets
3.2.2. Top Winning Strategies
3.3. PORTERS FIVE FORCES ANALYSIS
3.4. MARKET DYNAMICS
3.4.1. Drivers
3.4.1.1. Environmental regulations driving the demand for the heat exchangers
3.4.1.2. Growth of end-user industries
3.4.1.3. Growing preference for heat exchanger in oil & gas industries
3.4.2. Restraints
3.4.2.1. Volatile nature of raw material prices
3.4.2.2. Corrosion and fouling problems related with heat exchangers
3.4.3. Opportunities
3.4.3.1. Increasing demand for heat exchangers in nuclear power for power generation
3.5. KEY PLAYER POSITIONING
CHAPTER 4. GLOBAL HEAT EXCHANGERS MARKET, BY TYPE
4.1. INTRODUCTION
4.1.1. Market Size and Forecast
4.2. SHELL AND TUBE
4.2.1. Key Market Trends, Growth Factors, and Opportunities
4.2.2. Market Size and Forecast
4.3. PLATE AND FRAME
4.3.1. Key Market Trends, Growth Factors, and Opportunities
4.3.2. Market Size and Forecast
4.4. AIR-COOLED
4.4.1. Key Market Trends, Growth Factors, and Opportunities
4.4.2. Market Size and Forecast
4.5. MICROCHANNEL
4.5.1. Key Market Trends, Growth Factors, and Opportunities
4.5.2. Market Size and Forecast
4.6. OTHERS (GASKETED, BRAZED, WELDED, AND FINNED TUBE)
4.6.1. Key Market Trends, Growth Factors, and Opportunities
4.6.2. Market Size and Forecast
CHAPTER 5. GLOBAL HEAT EXCHANGERS MARKET, BY END-USER INDUSTRY
5.1. INTRODUCTION
5.1.1. Market Size and Forecast
5.2. CHEMICAL
5.2.1. Key Market Trends, Growth Factors, and Opportunities
5.2.2. Market Size and Forecast
5.3. PETROCHEMICAL
5.3.1. Key Market Trends, Growth Factors, and Opportunities
5.3.2. Market Size and Forecast
5.4. OIL AND GAS
5.4.1. Key Market Trends, Growth Factors, and Opportunities
5.4.2. Market Size and Forecast
5.5. HVACR
5.5.1. Key Market Trends, Growth Factors, and Opportunities
5.5.2. Market Size and Forecast
5.6. FOOD AND BEVERAGE
5.6.1. Key Market Trends, Growth Factors, and Opportunities
5.6.2. Market Size and Forecast
5.7. POWER GENERATION
5.7.1. Key Market Trends, Growth Factors, and Opportunities
5.7.2. Market Size and Forecast
CHAPTER 6. GLOBAL HEAT EXCHANGERS MARKET, BY MATERIAL OF CONSTRUCTION
6.1. INTRODUCTION
6.1.1. Market Size and Forecast
6.2. CARBON STEEL
6.2.1. Key Market Trends, Growth Factors, and Opportunities
6.2.2. Market Size and Forecast
6.3. STAINLESS STEEL
6.3.1. Key Market Trends, Growth Factors, and Opportunities
6.3.2. Market Size and Forecast
6.4. NICKEL
6.4.1. Key Market Trends, Growth Factors, and Opportunities
6.4.2. Market Size and Forecast
6.5. OTHERS (NICKEL ALLOYS, TITANIUM, COPPER AND MOLYBDENUM)
6.5.1. Key Market Trends, Growth Factors, and Opportunities
6.5.2. Market Size and Forecast
CHAPTER 7. GLOBAL HEAT EXCHANGERS MARKET, BY GEOGRAPHY
7.1. INTRODUCTION
7.1.1. Market Size and Forecast
7.2. NORTH AMERICA
7.2.1. Key Market Trends, Growth Factors, and Opportunities
7.2.2. Market Size and Forecast
7.2.3. U.S.
7.2.3.1. Market size and forecast, by type
7.2.4. Canada
7.2.4.1. Market size and forecast, by type
7.2.5. Mexico
7.2.5.1. Market size and forecast, by type
7.3. EUROPE
7.3.1. Key Market Trends, Growth Factors, and Opportunities
7.3.2. Market Size and Forecast
7.3.3. Germany
7.3.3.1. Market size and forecast, by type
7.3.4. France
7.3.4.1. Market size and forecast, by type
7.3.5. UK
7.3.5.1. Market size and forecast, by type
7.3.6. Spain
7.3.6.1. Market size and forecast, by type
7.3.7. Italy
7.3.7.1. Market size and forecast, by type
7.3.8. Rest of Europe
7.3.8.1. Market size and forecast, by type
7.4. ASIA-PACIFIC
7.4.1. Key Market Trends, Growth Factors, and Opportunities
7.4.2. Market Size and Forecast
7.4.3. India
7.4.3.1. Market size and forecast, by type
7.4.4. China
7.4.4.1. Market size and forecast, by type
7.4.5. Japan
7.4.5.1. Market size and forecast, by type
7.4.6. Australia
7.4.6.1. Market size and forecast, by type
7.4.7. Korea
7.4.7.1. Market size and forecast, by type
7.4.8. Rest of Asia-Pacific
7.4.8.1. Market size and forecast, by type
7.5. LAMEA
7.5.1. Key Market Trends, Growth Factors, and Opportunities
7.5.2. Market Size and Forecast
7.5.3. Brazil
7.5.3.1. Market size and forecast, by type
7.5.4. KSA
7.5.4.1. Market size and forecast, by type
7.5.5. South Africa
7.5.5.1. Market size and forecast, by type
7.5.6. Rest of LAMEA
7.5.6.1. Market size and forecast, by type
CHAPTER 8. COMPANY PROFILES
8.1. ALFA-LAVAL AB
8.1.1. Company Overview
8.1.2. Company Snapshot
8.1.3. Operating Business Segments
8.1.4. Business Performance
8.1.5. Key Strategic Moves and Developments
8.2. KELVION HOLDINGS GMBH
8.2.1. Company Overview
8.2.2. Company Snapshot
8.2.3. Operating Business Segments
8.2.4. Business Performance
8.2.5. Key Strategic Moves and Developments
8.3. DANFOSS A/S
8.3.1. Company Overview
8.3.2. Company Snapshot
8.3.3. Operating Business Segments
8.3.4. Business Performance
8.3.5. Key Strategic Moves and Developments
8.4. SPX CORPORATION
8.4.1. Company Overview
8.4.2. Company Snapshot
8.4.3. Operating Business Segments
8.4.4. Business Performance
8.4.5. Key Strategic Moves and Developments
8.5. XYLEM INCORPORATION
8.5.1. Company Overview
8.5.2. Company Snapshot
8.5.3. Operating Business Segments
8.5.4. Business Performance
8.5.5. Key Strategic Moves and Developments
8.6. BRASK INCORPORATION
8.6.1. Company Overview
8.6.2. Company Snapshot
8.6.3. Operating Business Segments
8.6.4. Business Performance
8.6.5. Key Strategic Moves and Developments
8.7. KOCH HEAT TRANSFER COMPANY
8.7.1. Company Overview
8.7.2. Company Snapshot
8.7.3. Operating Business Segments
8.7.4. Business Performance
8.7.5. Key Strategic Moves and Developments
8.8. MANNING AND LEWIS
8.8.1. Company Overview
8.8.2. Company Snapshot
8.8.3. Operating Business Segments
8.8.4. Business Performance
8.8.5. Key Strategic Moves and Developments
8.9. API HEAT TRANSFER INCORPORATION
8.9.1. Company Overview
8.9.2. Company Snapshot
8.9.3. Operating Business Segments
8.9.4. Business Performance
8.9.5. Key Strategic Moves and Developments
8.10. HUGHES ANDERSON HEAT EXCHANGERS
8.10.1. Company Overview
8.10.2. Company Snapshot
8.10.3. Operating Business Segments
8.10.4. Business Performance
8.10.5. Key Strategic Moves and Developments
List of Tables
TABLE 1. GLOBAL HEAT EXCHANGERS MARKET VALUE, BY TYPE, 2014-2022 ($MILLION)
TABLE 2. GLOBAL SHELL AND TUBE HEAT EXCHANGERS MARKET VALUE, BY REGION, 2014-2022 ($MILLION)
TABLE 3. GLOBAL PLATE AND FRAME HEAT EXCHANGERS MARKET VALUE, BY REGION, 2014-2022 ($MILLION)
TABLE 4. GLOBAL AIR-COOLED HEAT EXCHANGERS MARKET VALUE, BY REGION, 2014-2022 ($MILLION)
TABLE 5. GLOBAL MICRO-CHANNEL HEAT EXCHANGERS MARKET VALUE, BY REGION, 2014-2022 ($MILLION)
TABLE 6. GLOBAL OTHERS HEAT EXCHANGERS MARKET VALUE, BY REGION, 2014-2022 ($MILLION)
TABLE 7. GLOBAL HEAT EXCHANGERS MARKET VALUE, BY MATERIAL OF CONSTRUCTION, 2014-2022 ($MILLION)
TABLE 8. GLOBAL CARBON STEEL HEAT EXCHANGERS MARKET VALUE, BY REGION, 2014-2022 ($MILLION)
TABLE 9. GLOBAL STAINLESS STEEL HEAT EXCHANGERS MARKET VALUE, BY REGION, 2014-2022 ($MILLION)
TABLE 10. GLOBAL NICKEL HEAT EXCHANGERS MARKET VALUE, BY REGION, 2014-2022 ($MILLION)
TABLE 11. GLOBAL OTHERS HEAT EXCHANGERS MARKET VALUE, BY REGION, 2014-2022 ($MILLION)
TABLE 12. GLOBAL HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 13. GLOBAL HEAT EXCHANGERS IN CHEMICAL MARKET VALUE, BY REGION, 2014-2022 ($MILLION)
TABLE 14. GLOBAL HEAT EXCHANGERS IN PETROCHEMICALS MARKET VALUE, BY REGION, 2014-2022 ($MILLION)
TABLE 15. GLOBAL HEAT EXCHANGERS IN OIL AND GAS MARKET VALUE, BY REGION, 2014-2022 ($MILLION)
TABLE 16. GLOBAL HEAT EXCHANGERS IN HVACR MARKET VALUE, BY REGION, 2014-2022 ($MILLION)
TABLE 17. GLOBAL HEAT EXCHANGERS IN FOOD AND BEVERAGE MARKET VALUE, BY REGION, 2014-2022 ($MILLION)
TABLE 18. GLOBAL HEAT EXCHANGERS IN POWER GENERATION MARKET VALUE, BY REGION, 2014-2022 ($MILLION)
TABLE 19. GLOBAL HEAT EXCHANGERS MARKET VALUE, BY REGION, 2014-2022 ($MILLION)
TABLE 20. NORTH AMERICA HEAT EXCHANGERS MARKET VALUE, BY TYPE, 2014-2022 ($MILLION)
TABLE 21. NORTH AMERICA HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 22. NORTH AMERICA HEAT EXCHANGERS MARKET VALUE, BY MATERIAL OF CONSTRUCTION TYPE, 2014-2022 ($MILLION)
TABLE 23. NORTH AMERICA HEAT EXCHANGERS MARKET VALUE, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 24. U.S. HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 25. CANADA HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 26. MEXICO HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 27. EUROPE HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 28. EUROPE HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 29. EUROPE HEAT EXCHANGERS MARKET VALUE, BY MATERIAL OF CONSTRUCTION, 2014-2022 ($MILLION)
TABLE 30. EUROPE HEAT EXCHANGERS MARKET VALUE, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 31. FRANCE HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 32. GERMANY HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 33. UK HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 34. SPAIN HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 35. ITALY HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 36. REST OF EUROPE HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 37. ASIA-PACIFIC HEAT EXCHANGERS MARKET VALUE, BY TYPE, 2014-2022 ($MILLION)
TABLE 38. ASIA-PACIFIC HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 39. ASIA-PACIFIC HEAT EXCHANGERS MARKET VALUE, BY MATERIAL OF CONSTRUCTION, 2014-2022 ($MILLION)
TABLE 40. ASIA-PACIFIC HEAT EXCHANGERS MARKET VALUE, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 41. INDIA HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 42. CHINA HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 43. JAPAN HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 44. KOREA HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 45. AUSTRALIA HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 46. REST OF ASIA-PACIFIC HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 47. LAMEA HEAT EXCHANGERS MARKET VALUE, BY TYPE, 2014-2022 ($MILLION)
TABLE 48. LAMEA HEAT EXCHANGERS MARKET VALUE, BY END-USER INDUSTRY, 2014-2022 ($MILLION)
TABLE 49. LAMEA HEAT EXCHANGERS MARKET VALUE, BY MATERIAL OF CONSTRUCTION, 2014-2022 ($MILLION)
TABLE 50. LAMEA HEAT EXCHANGERS MARKET VALUE, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 51. BRAZIL HEAT EXCHANGERS MARKET VALUE, BY TYPE, 2014-2022 ($MILLION)
TABLE 52. KSA HEAT EXCHANGERS MARKET VALUE, BY TYPE, 2014-2022 ($MILLION)
TABLE 53. SOUTH AFRICA HEAT EXCHANGERS MARKET VALUE, BY TYPE, 2014-2022 ($MILLION)
TABLE 54. REST OF LAMEA HEAT EXCHANGERS MARKET VALUE, BY TYPE, 2014-2022 ($MILLION)
TABLE 55. ALFA-LAVAL AB: COMPANY SNAPSHOT
TABLE 56. ALFA-LAVAL AB: OPERATING SEGMENTS
TABLE 57. KELVION HOLDINGS GMBH: COMPANY SNAPSHOT
TABLE 58. KELVION HOLDINGS GMBH: OPERATING SEGMENTS
TABLE 59. DANFOSS A/S: COMPANY SNAPSHOT
TABLE 60. DANFOSS A/S: OPERATING SEGMENTS
TABLE 61. SPX CORPORATION: COMPANY SNAPSHOT
TABLE 62. SPX CORPORATION: OPERATING SEGMENTS
TABLE 63. XYLEM INCORPORATION: COMPANY SNAPSHOT
TABLE 64. XYLEM INCORPORATION: OPERATING SEGMENTS
TABLE 65. BRASK INCORPORATION: COMPANY SNAPSHOT
TABLE 66. BRASK INCORPORATION: OPERATING SEGMENTS
TABLE 67. KOCH HEAT TRANSFER COMPANY: COMPANY SNAPSHOT
TABLE 68. KOCH HEAT TRANSFER COMPANY: OPERATING SEGMENTS
TABLE 69. MANNING AND LEWIS: COMPANY SNAPSHOT
TABLE 70. MANNING AND LEWIS: OPERATING SEGMENTS
TABLE 71. API HEAT TRANSFER INCORPORATION: COMPANY SNAPSHOT
TABLE 72. API HEAT TRANSFER INCORPORATION: OPERATING SEGMENTS
TABLE 73. HUGHES ANDERSON HEAT EXCHNAGERS: COMPANY SNAPSHOT
TABLE 74. HUGHES ANDERSON HEAT EXCHNAGERS: OPERATING SEGMENTS
List of Figures
FIGURE 1. GLOBAL HEAT EXCHANGERS MARKET: SEGMENTATION
FIGURE 2. GLOBAL HEAT EXCHANGERS MARKET SHARE, BY MATERIAL OF CONSTRUCTION, 2015 (%)
FIGURE 3. TOP INVESTMENT POCKETS, BY TYPE
FIGURE 4. TOP WINNING STRATEGIES
FIGURE 5. BARGAINING POWER OF SUPPLIERS
FIGURE 6. BARGAINING POWER OF BUYERS
FIGURE 7. THREAT OF NEW ENTRANTS
FIGURE 8. THREAT OF SUBSTITUTES
FIGURE 9. COMPETITIVE RIVALRY
FIGURE 10. U.S. HEAT EXCHANGERS MARKET VALUE, 2014-2022 ($MILLION)
FIGURE 11. CANADA HEAT EXCHANGERS MARKET VALUE, 2014-2022 ($MILLION)
FIGURE 12. MEXICO HEAT EXCHANGERS MARKET VALUE, 2014-2022 ($MILLION)
FIGURE 13. FRANCE HEAT EXCHANGERS MARKET VALUE, 2014-2022 ($MILLION)
FIGURE 14. GERMANY HEAT EXCHANGERS MARKET VALUE, 2014-2022 ($MILLION)
FIGURE 15. UK HEAT EXCHANGERS MARKET VALUE, 201-2022 ($MILLION)
FIGURE 16. SPAIN HEAT EXCHANGERS MARKET VALUE, 2014-2022 ($MILLION)
FIGURE 17. ITALY HEAT EXCHANGERS MARKET VALUE, 2014-2022 ($MILLION)
FIGURE 18. REST OF EUROPE HEAT EXCHANGERS MARKET VALUE, 2014-2022 ($MILLION)
FIGURE 19. INDIA HEAT EXCHANGERS MARKET VALUE, 2014-2022 ($MILLION)
FIGURE 20. CHINA HEAT EXCHANGERS MARKET VALUE, 2014-2022 ($MILLION)
FIGURE 21. JAPAN HEAT EXCHANGERS MARKET VALUE, 2014-2022 ($MILLION)
FIGURE 22. KOREA HEAT EXCHANGERS MARKET VALUE, 2014-2022 ($MILLION)
FIGURE 23. AUSTRALIA HEAT EXCHANGERS MARKET VALUE, 2014-2022 ($MILLION)
FIGURE 24. REST OF ASIA-PACIFIC HEAT EXCHANGERS MARKET VALUE, 2014-2022 ($MILLION)
FIGURE 25. BRAZIL HEAT EXCHANGERS MARKET VALUE, 2014-2022 ($MILLION)
FIGURE 26. KSA HEAT EXCHANGERS MARKET VALUE, 2014-2022 ($MILLION)
FIGURE 27. SOUTH AFRICA HEAT EXCHANGERS MARKET VALUE, 2014-2022 ($MILLION)
FIGURE 28. REST OF LAMEA HEAT EXCHANGERS MARKET VALUE, 2014-2022 ($MILLION)
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