Heat exchanger market worth $19.9 billion by 2026
Heat Exchangers Market, Shell and Tube Heat Exchangers, Plate and Frame Heat Exchangers, Air Cooled Heat Exchangers
According to recent market research, “Heat Exchangers Market by Type (Shell & Tube, Plate & Frame, Air Cooled), Raw Material (Steel, Copper, Aluminum), Application (Chemical, Energy, HVACR, Food & Beverage , Power Generation, Pulp & Paper), and Region – Global Forecast to 2026″, Heat Exchangers Market Size is estimated to be USD 15.6 Billion in 2021 and is projected to reach USD 19.9 Billion by by 2026, growing at a CAGR of 5.0% over the forecast period. Major factors driving the heat exchanger market include the growth of the chemical industry and the increasing demand for energy across the globe. Heat exchangers have industrial and commercial applications in various industries such as chemical, power, electrical, HVAC, pulp and paper, and food and beverage. Shell and tube, plate and frame, air-cooled heat exchangers are commonly available in the market and are used in various end-use industries. The heat exchanger market growth is mainly driven by increasing deployment of HVACR and other industrial activities, soaring energy prices and rapid industrial expansion in developing economies.
Browse 153 Market Data Tables and 52 Figures spread over 243 Pages and Detailed TOC on “Heat Exchanger Market – Global Forecast to 2026”
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Growing demand for shell and tube type heat exchangers from various end-use industries
On the basis of type, the heat exchanger market is segmented into four types, namely shell and tube, plate and frame, air-cooled, and others. The Shell & Tube segment dominates the heat exchangers market during the forecast period. Shell and tube heat exchangers are ideal for various end-use industries such as chemical, food and beverage, oil and gas, pulp and paper, and others such as metallurgy, wastewater treatment and mining. In addition, shell and tube type heat exchangers offer a relatively large ratio of heat transfer area to volume to weight.
Europe dominates the heat exchanger market
Europe is the largest market for heat exchangers, belonging to the established manufacturing, automotive and industrial sector. European energy efficiency regulations and the demand for sustainable energy consumption will also increase the demand for heat exchangers during the forecast period. The major end-use industries of heat exchangers in the region are chemical, power, HVAC and others.
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The healthcare tissue market size is expected to reach USD 23.3 billion by 2025, from USD 16.8 billion in 2020, at a CAGR of 6.7%. Increased awareness of hygiene products through promotions and advertisements is primarily driving the healthcare tissue market. However, the increased use of sanitary napkins among women has led to serious environmental concern. On the other hand, the availability of smart fabrics is expected to provide new growth opportunities for healthcare fabric manufacturers.
Kimberly-Clark Corporation (USA), Berry Global Inc. (USA), Freudenberg Group (Germany), Ahlstrom Munksjo OYJ (Finland) are the major players in this market.
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Kimberly-Clark Corporation is one of the largest players in the healthcare fabrics market. It has a strong brand name in the industry. Kimberly-Clark Corporation is a leading company specializing in essential products. The Company is primarily engaged in the manufacturing and marketing of a wide range of products made from natural or synthetic fibers using advanced technologies in fibers, nonwovens and absorbents.
The Freudenberg Group is a leading German company specializing in household goods, cleaning products, automotive parts, textiles, building materials and telecommunications. The company has its production facilities around the world, including Europe, Asia, and North and South America.
Berry Global is one of the largest manufacturers of healthcare fabrics. The company has shown continuous revenue growth since 2016. The company’s strong product portfolio and global market presence are expected to support its growth during the forecast period.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, Illinois 60062
Email: [email protected]
Press release: https://www.marketsandmarkets.com/PressReleases/heat-exchanger.asp
Research prospects: https://www.marketsandmarkets.com/ResearchInsight/healthcare-fabric-market.asp
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