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Disruptive Green Technology will Enhance the Future Growth Potential of the Heat Exchanger Market
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This study analyzes the global heat exchanger market from 2019 to 2027. It examines its growth prospects in the short, medium, and long terms. The COVID-19 pandemic has created unforeseen circumstances for businesses around the world, affecting the overall growth of the manufacturing sector.The heat exchanger sub-products included in this study are• Shell-and-tube heat exchangers• Gasketed plate-and-frame heat exchangers• All-welded plate heat exchangers• Brazed plate heat exchangers• Air-cooled heat exchangers• Cooling tower systemsThe vertical markets analyzed in this study are• HVAC and refrigeration• Power generation• Chemicals and petrochemicals• Oil and gas• Food and beverage• Water and wastewater• Pharmaceuticals• Mining• Marine and shipbuilding• Others (heat exchangers employed in steelmaking, general engineering, pulp and paper, and other niche applications)The regional segmentation covers North America, Latin America (LATAM), the Asia-Pacific (APAC), Europe, and the Middle East and Africa (MEA).As the heat exchanger market is mature, Frost & Sullivan highlights the various digital solutions that can be implemented to drive market revenue. In addition, a competitive evaluation of heat exchangers is captured, including a look at the leading market players and key factors helping them outperform their competitors. The report also includes the application of heat exchangers in the production of green technology and has explained the growth of heat exchangers in the various renewable, alternative, and sustainable sources of energy.However, the commoditization of the product raises price pressures, reducing market participants' profit margins, particularly in the face of fierce competition from low-cost manufacturers. The market's greatest difficulty right now is localized lockdowns across countries, as well as fast-rising supply chain expenses. In many applications, the focus on reducing the total cost of ownership, energy consumption, and footprint is likely to lead to a larger push for plate heat exchangers and a reduction in the use of shell-and-tube heat exchangers.
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