North American Heat Exchangers Market, Forecast to 2025

North American Heat Exchangers Market, Forecast to 2025

Investments in the Energy Sector are Expected to Offset the Effects of the Trade War and Drive Long-term Market Growth

RELEASE DATE
26-Feb-2020
REGION
North America
Research Code: K497-01-00-00-00
SKU: IA01572-NA-MR_24120

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Description

The North American heat exchangers market is currently recording steady growth after a period of prolonged economic depression due to the weakening of the oil and gas industry. The emergence of the United States as a powerhouse in the oil and gas industry and the high availability of natural gas are driving market investments for heat exchangers. In particular, the shift toward gas-fired thermal power generation and a large number of renewable energy projects are expected to revive the demand for heat exchangers over the forecast period. However, owing to geopolitical tensions between the United States and China, trade war between the two countries will impact market growth in the short term. The trade war is expected to affect manufacturing and supply chain activities for heat exchangers as well as restrict investments from end users. However, with an increased thermal power plant footprint and strong demand from heating, ventilation, and air conditioning (HVAC), the chemical and petrochemical industries will offset the overall impact of the trade war.

From an end-user perspective, the growth of data centers and a rising demand for energy efficiency have increased the number of heat exchanger applications for HVAC and refrigeration purposes. Although cooling towers and shell and tube exchangers account for a more substantial share of the market revenue, the demand for energy efficiency will propel stronger growth in the gasketed plate-and-frame segments going forward. Despite a positive growth environment, the market is expected to slow down in 2020 due to increased uncertainty over the trade wars influencing the investment climate. Hence, heat exchanger manufacturers need to broaden their product and service portfolios to address customer challenges.

Market participants need to invest in research and development (R&D) for advanced manufacturing technologies such as additive manufacturing in order to improve performance and customization levels and reduce production costs. Moreover, the integration of Internet of Things (IoT) technologies for smart solutions will facilitate product and service diversification and renew demand from key end users. Competitors in this market must lower the ownership costs for heat exchanger systems to meet customer needs, bridge the existing market gaps, and improve customer satisfaction.

Key Questions the Study will Answer:
What is the size of the North American heat exchangers market? Is the market growing?
Which end-user industries are driving the growth of this market and how?
How is the growth environment in key geographical segments?
How is the demand for heat exchangers expected to grow over time?
Who are the key participants in the North American heat exchangers market?

Table of Contents

Related Research
The North American heat exchangers market is currently recording steady growth after a period of prolonged economic depression due to the weakening of the oil and gas industry. The emergence of the United States as a powerhouse in the oil and gas industry and the high availability of natural gas are driving market investments for heat exchangers. In particular, the shift toward gas-fired thermal power generation and a large number of renewable energy projects are expected to revive the demand for heat exchangers over the forecast period. However, owing to geopolitical tensions between the United States and China, trade war between the two countries will impact market growth in the short term. The trade war is expected to affect manufacturing and supply chain activities for heat exchangers as well as restrict investments from end users. However, with an increased thermal power plant footprint and strong demand from heating, ventilation, and air conditioning (HVAC), the chemical and petrochemical industries will offset the overall impact of the trade war. From an end-user perspective, the growth of data centers and a rising demand for energy efficiency have increased the number of heat exchanger applications for HVAC and refrigeration purposes. Although cooling towers and shell and tube exchangers account for a more substantial share of the market revenue, the demand for energy efficiency will propel stronger growth in the gasketed plate-and-frame segments going forward. Despite a positive growth environment, the market is expected to slow down in 2020 due to increased uncertainty over the trade wars influencing the investment climate. Hence, heat exchanger manufacturers need to broaden their product and service portfolios to address customer challenges. Market participants need to invest in research and development (R&D) for advanced manufacturing technologies such as additive manufacturing in order to improve performance and customization levels and reduce production costs. Moreover, the integration of Internet of Things (IoT) technologies for smart solutions will facilitate product and service diversification and renew demand from key end users. Competitors in this market must lower the ownership costs for heat exchanger systems to meet customer needs, bridge the existing market gaps, and improve customer satisfaction. Key Questions the Study will Answer: What is the size of the North American heat exchangers market? Is the market growing? Which end-user industries are driving the growth of this market and how? How is the growth environment in key geographical segments? How is the demand for heat exchangers expected to grow over time? Who are the key participants in the North American heat exchangers market?
More Information
No Index No
Podcast No
Author Riti Newa
Industries Industrial Automation
WIP Number K497-01-00-00-00
Is Prebook No
GPS Codes 9406-A5,9593,9420