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The global Heat Exchangers Market is valued at USD 16.56 Billion in 2020 and is expected to reach USD 26.42 Billion by 2027 with a CAGR of 6.9% over the forecast period.
A heat exchanger is a system utilized to transfer heat among two or more fluids. A heat exchanger is a device that transfers thermal energy (enthalpy) between warmer fluids, solid surfaces, and fluids, or solid particles and fluids at various temperatures and in thermal contact. The fluids might be isolated by a strong wall to avoid blending or they might be in direct contact. For productivity, heat exchangers are intended to maximize the surface space of the wall between the two liquids, while limiting resistance from fluid course through the exchanger. The exchanger’s presentation can likewise be impacted by the addition of blades or layering’s in one or the two directions, which increment surface area and may channel fluid stream or initiate turbulence.
The Covid-19 outbreak has changed the interest as each area had put down tasks. The production units for these exchangers were closed down across a few districts attributable to limitations imposed by governments. Additionally, the unavailability of laborers has harmed the production even after a portion of the limitations were lifted. However, following the pandemic, the demand is relied upon to have a positive growth rate with expanded inclination to finish district energy and sustainable power focuses alongside the need to do the trick HVAC demand.
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Global Heat Exchangers Market Segmentation:
Global heat exchangers market report is segmented on the basis of type, material of construction, end-use industry, and region & country level. Based upon the type, the global heat exchangers market is classified into shell & tube, plate & frame, air-cooled, and microchannel. Based upon the material of construction, the market is divided into carbon steel, stainless steel, and nickel. Based upon the end-use industry, the global Heat exchangers market is classified into chemical, petrochemical, oil & gas, HVACR, food & beverage, and power generation.
By Type:- (Shell & Tube, Plate & Frame, Air-Cooled, Microchannel, Others)
By Material of Construction:- (Carbon Steel, Stainless Steel, Nickel, Others)
By End-Use Industry:- (Chemical, Petrochemical, Oil & Gas, HVACR, Food & Beverage, Power Generation, Others)
Alfa Laval, Xylem, Kelvion Holdings, Gunter, Danfoss, API Heat Transfer, Hisaka Works, Johnson Controls International, Chart Industries, Hindustan Dorr-Oliver
News: Exchanger Industries Acquired HRS Heat Exchangers
On July 27th, 2021; HRS Heat Exchangers Ltd. was bought by Exchanger Industries Ltd. (EIL), a heat transfer product designer and manufacturer located in Canada (HRS). HRS established in the United Kingdom, provides heat exchangers and specialized process systems to companies in the environmental, food, beverage, and pharmaceutical industries. HRS’ management staff will be retained by EIL, which services the energy, petrochemical, industrial, and clean power industries. According to the business, the acquisition gives EIL instant access to a cost-effective global presence with scalable hubs in both India and Spain.
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Which are the driving factors responsible for the growth of market?
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How big is the global & regional market in terms of revenue, sales and production?
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Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
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