Heat exchangers market Estimated to Expand at a Robust CAGR by 2024

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Heat Exchangers Market

• - Global Industry Analysis, Size, Share, Growth
  Trends  2014 - 2020

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Global Variable Frequency Drives Market
Snapshot 

• The global heat exchanger market was valued at
  USD 11.86 billion in 2013 and is expected to
  reach USD 18.04 billion by 2020 at a CAGR of 6.0
  from 2014 to 2020.
• Asia Pacific alone accounted for 33.6 of the
  overall market share in 2013, valued at USD 3.94
  billion.
• The region is expected to reach market
  capitalization to the tune of USD 6.12 billion,
  growing at a respectable CAGR of 6.34 from 2014
  to 2020. 

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Heat Exchangers Market Trends

• Maximizing thermal efficiency is the prime reason
  behind an increased demand for heat exchangers.
• A heat exchanger is a piece of equipment designed
  and built for efficient heat transfer from one
  medium to another.
• The media may be separated by a solid wall to
  prevent mixing or they may be in direct contact
  with the materials being processed, which could
  harm the end product. 

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Asia Pacific to Remain Frontrunner Owing to Rapid
Infrastructure Development 

• Heavy-duty or customized heat exchangers are
  generally utilized by large industrial consumers.
  
• On the other hand, portable heat exchangers
  generally cater to the residential or small
  commercial establishments.
• A rapidly developing heating, ventilation, and
  air conditioning (HVAC) industry coupled with
  brisk capacity additions in both the power and
  hydrocarbons sectors are likely to boost demand
  for heat exchangers.
• Currently, significant investment is being made
  by industries located in developing countries
  (Asia Pacific) to develop infrastructure to bring
  itself at par with the growth rate of other
  mature industries.

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Some of the prominent players in the global heat
exchangers market

• G, ABB Ltd.
• Crompton Greaves Ltd.
• Schneider Electric Industries S.A.S.

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