The global heat exchanger market is expected to reach $21.3 billion by 2022

   December 21, 2016

According to a new market report published by Lucintel, the future of the global heat exchanger market looks promising with opportunities in the chemical, petrochemical and oil and gas applications. The global heat exchanger market is expected to reach an estimated $21.3 billion by 2022 and it is forecast to grow at a CAGR of 6.1% from 2017 to 2022. The major drivers of growth for this market are rapid industrialization, a rise in HVACR deployments, and stringent environmental regulations.

In this market, chemical, petrochemical and oil and gas, paper and pulp, food and beverage, HVACR, and power generation are the market segments by application. On the basis of product type, the market is segmented into shell and tube, plate and frame, air-cooled, and others. On the basis of its comprehensive research, Lucintel forecasts that the HVACR application is expected to show above average growth during the forecast period.

Within the global heat exchanger market, the shell and tube segment is expected to remain the largest market. Increase in number of oil field projects, and infrastructure development projects across all the regions are the major factors that will spur growth for this segment over the forecast period.

Europe is expected to remain the largest region and Asia Pacific and Europe are expected to witness significant growth over the forecast period due to stringent environmental regulations and increasing awareness regarding installation of energy efficiency systems.

For business expansion, Lucintel’s report suggests innovation and new product development to ensure smooth transmission of heat to save energy costs. The report further suggests the development of partnerships with customers to create win-win situations and the development of low-cost solutions for customers.


Emerging trends which have a direct impact on the dynamics of the industry include development of waste heat recovery heat exchangers and introduction of exhaust gas re-circulation coolers. Alfa Laval Corporate AB, Kelvion Holding GmbH, Xylem Inc., Danfoss A/S, and SPX Corporation are the major heat exchanger suppliers in the global exchanger market. Of these, several are seeking mergers and acquisitions as strategic initiatives to drive growth.  


Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global heat exchanger market by application, product type, and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Global Heat Exchanger Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy because it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the growth opportunities in the global heat exchanger market by application, product type and region, as follows:


By Application [$ Billion from 2011 to 2022]:

·         Chemical                                   

·         Petrochemical and Oil and Gas  

·         HVACR                                     

·         Food and Beverage                  

·         Power Generation                    

·         Paper and Pulp                        

·         Others                                        

By Product Type [$ Billion from 2011 to 2022]:

·         Shell and Tube                     

·         Plate and Frame                   

·         Air-Cooled                              

·         Others                                               

By region [$ Billion from 2011 to 2022]:

·         North America

·         Europe

·         Asia Pacific

·         Rest of the World


This 181-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link or

About Lucintel

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit


This report answers following key questions:

Q.1. What are some of the most promising, high-growth opportunities for the heat exchanger market by application (chemical, petrochemical and oil and gas, paper and pulp, food and beverage, HVACR, power generation, and others), product type (shell and tube, plate and frame, air-cooled and other), and region (North America, Europe, Asia Pacific, and the Rest of the World).

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by materials / product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

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