Global Heat Exchangers Market, Forecast to 2024

Global Heat Exchangers Market, Forecast to 2024

  • October 2019 •
  • 149 pages •
  • Report ID: 5827638 •
  • Format: PDF
This research analyzes the global heat exchangers market in detail from 2015 to 2024, where the base year of the study is 2018.This study examines the various product segments, end-user industries, and market shares, and offers a competitive analysis of the global market participants.

Regional analyses are provided for North America, Europe, Middle East and Africa (EMEA), Asia-Pacific (APAC), and the Rest of World (RoW).Positive economic activity, focus on energy efficiency, and increased investments in the energy sector are set to sustain long-term market growth. North America, the largest economy in the world, recovered from sluggish demand to post strong growth in 2018. The renewed business optimism and rebuilding, and in some cases, the replacement of aging equipment are expected to drive growth in the energy sector, particularly in the oil and gas sector. The Europe, Middle East, and Africa (EMEA) region is also expected to follow a similar growth trajectory. Strength in the EU economy is expected to sustain short-term growth while upcoming events in the Middle East are expected to sustain medium-term growth. Similarly, Asia-Pacific, home to two of the fastest-growing major economies in the world, is another key growth engine due to the rising wealth in the region and the growth of the manufacturing sector. China and India are global powerhouses in the energy sector. The countries are expected to generate strong demand for heat exchangers throughout the forecast period, eventually helping the region become the largest revenue generator.However, commoditization of the product increases the price pressure, affecting the profit margins of the market participants, especially in the light of intense competition from low-cost manufacturers. The biggest threat to this market is the US-China trade war; sanctions could dampen investment in key sectors and have a direct impact on the sales of heat exchangers. The focus on reduced system footprint, total cost of ownership, and reduced energy consumption are expected to result in a greater push for plate heat exchangers and the reduced adoption of shell-and-tube heat exchangers in many applications.