Global Heat Exchangers
Market Report
2025
The global Heat Exchangers market size is USD 23.2 billion in 2024. The Heat Exchangers market will show strongest growth with a compound annual growth rate (CAGR) of 6.9% from 2024 to 2031. This growth can be attributed to increasing need for heat pumps.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Heat Exchangers market size is USD 23.2 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 6.9% from 2024 to 2031.
2024 | 2025 | 2032 | 2033 | CAGR | |
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Global Heat Exchangers Market Sales Revenue | $ 23.2 Billion | 121212 | 121212 | 121212 | 6.9% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Material |
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Market Split by Type |
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Market Split by End-Use Industry |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Heat Exchangers Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
A heat exchanger is a device that transfers heat between two or more fluids without mixing them, enhancing energy efficiency in various applications. The heat exchanger market is expanding due to rising demand for sustainable, low-energy, and cost-effective solutions across industries like HVAC, chemical processing, and power generation. Innovations in design and materials are driving this growth, addressing stricter environmental regulations and the need for reduced operational costs. As industries seek to lower their carbon footprints and energy expenses, advanced heat exchangers are becoming essential for achieving these sustainability and efficiency goals. The increasing focus on sustainability is driving the need for heat exchangers that are specifically engineered to consume less energy and be cost-effective. Industries are progressively searching for ecologically sustainable alternatives to diminish their impact on the environment.
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In February 2022, The TS45 gasket plate heat exchanger by Alfa Laval introduces several innovations, including the OmegaPort, FlexFlow design, and CurveFlow plate pattern, which significantly enhance its thermal efficiency and establish a new benchmark in this regard. These characteristics improve the capacity to retain heat, decrease the accumulation of unwanted substances, and lower the expenses associated with energy use, hence promoting the achievement of sustainability objectives and expediting the shift towards achieving net-zero emissions.
(Source:https://www.alfalaval.com/media/news/2022/ts45-launch/)
Top Companies Market Share in Heat Exchangers Industry: (In no particular order of Rank)
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According to Cognitive Market Research, Europe dominated the market in 2024 and accounted for around 40% of the global revenue. It is anticipated that the demand for these products in the HVAC & refrigeration industry will be driven by increase in public and private infrastructure investments. Additionally, growth is anticipated to be driven by the growing demand from numerous end-use industries for heat exchangers that provide improved efficiency, durability, and reduced contamination during the forecast period.
Asia-Pacific stands out as the fastest-growing region in the Heat Exchangers market. Rising investments in manufacturing, commercial, and industrial projects, in conjunction with rapid industrialization in the developing economies of the Asia Pacific, have facilitated the overall expansion of the regional market.
The current report Scope analyzes Heat Exchangers Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Heat Exchangers Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Heat Exchangers Industry growth. Heat Exchangers market has been segmented with the help of its Material, Type End-Use Industry, and others. Heat Exchangers market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on the current trends and future market projects, Heat Exchangers market size is projected from 2019 to 2031, with both quantitative and qualitative analysis based on the Material segmentation analysis of the Heat Exchangers. This helps to understand the fastest-growing segments, such as industrial robots, electric motors, material handling systems, or construction equipment, and others. Type segment analysis gives detailed insights into the factors driving growth, such as technological innovations, automation, and energy efficiency. For instances segments like smart machinery and electric-powered equipment are becoming more popular as industries move towards sustainable and cost-effective solutions.
To better understand the performance of each Material segment, several factors are considered. These include technological advancements like IoT and AI integration, changes in consumer demand for more energy-efficient or customizable operation and pricing trends driven by raw material costs and labor. Regulatory impacts also play a role, especially with environmental and safety regulations. This type of analysis offers a clear view of how different types will evolve over time, helping businesses make smarter decisions on investments and strategies. (Report will provide you with customized data, and detailed insight on purchase of paid version of the report)
Material of Heat Exchangers analyzed in this report are as follows:
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Heat Exchangers Industry. Request a Free Sample PDF!
According to cognitive market research, Shell & Tube is the dominant category. Shell and tube heat exchangers are renowned for their efficient heat transfer capabilities. Their design enables a substantial surface area for thermal exchange between the fluid traveling through the tubes and the fluid surrounding the tubes within the shell. This configuration enhances the efficacy of heat transfer, making shell and tube heat exchangers suitable for a wide range of applications.
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Senior Research Analyst at Cognitive Market Research
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Heat Exchangers Market is witnessing significant growth in the near future.
In 2023, the Metals segment accounted for noticeable share of global Heat Exchangers Market and is projected to experience significant growth in the near future.
The Shell & Tube segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies ALFA LAVAL (Sweden) , Danfoss (Denmark) and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Material | Metals, Steel, Copper, Aluminum, Titanium, Nickel, Other Metals, Alloys, Nickel Alloys, Copper Alloys, Titanium Alloys, Other Alloys, Brazing Clad Materials, Copper Brazing, Ni Clad Brazing, Phosphor Copper Brazing, Silver Brazing, Other Brazing Clad Materials |
Type | Shell & Tube, Plate & Frame, Air Cooled, Other Types |
End-Use Industry | Chemical, Energy, HVACR, Food & Beverage, Power Generation, Pulp & Paper, Other End-Use Industries |
List of Competitors | ALFA LAVAL (Sweden), Kelvion Holding GmbH (Germany), Danfoss (Denmark), Exchanger Industries Limited (Canada), Mersen (France), API Heat Transfer (US), Boyd (US), H. Güntner (UK) Limited (Germany), Johnson Controls (Ireland), Xylem (US), Wabtec Corporation (US), SPX FLOW (US), LU-VE S.p.A. (Italy), Lennox International Inc. (US), Modine Manufacturing Company (US). |
This chapter will help you gain GLOBAL Market Analysis of Heat Exchangers. Further deep in this chapter, you will be able to review Global Heat Exchangers Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Heat Exchangers. Further deep in this chapter, you will be able to review North America Heat Exchangers Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Heat Exchangers. Further deep in this chapter, you will be able to review Europe Heat Exchangers Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Heat Exchangers. Further deep in this chapter, you will be able to review Asia Pacific Heat Exchangers Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Heat Exchangers. Further deep in this chapter, you will be able to review South America Heat Exchangers Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of Heat Exchangers. Further deep in this chapter, you will be able to review Middle East Heat Exchangers Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of Heat Exchangers. Further deep in this chapter, you will be able to review Middle East Heat Exchangers Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of Heat Exchangers. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Material Analysis 2019 -2031, will provide market size split by Material. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Material Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by End-Use Industry Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Heat Exchangers market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 14 Research Methodology and Sources
Why Metals have a significant impact on Heat Exchangers market? |
What are the key factors affecting the Metals and Steel of Heat Exchangers Market? |
What is the CAGR/Growth Rate of Shell & Tube during the forecast period? |
By type, which segment accounted for largest share of the global Heat Exchangers Market? |
Which region is expected to dominate the global Heat Exchangers Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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