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Heat Exchangers Market Outlook, Report 2022-2028

A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global heat exchangers market was worth USD 15.4 billion in the year 2021. It is estimated to grow at a CAGR of 4.70%, earning revenue of around USD 21.1 billion by the end of 2028. The global heat exchangers market is flourishing at a high rate owing to the rising focus and investment towards efficient thermal management for energy conservation and cost reduction.

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Heat Exchangers Market Outlook, Report 2022-2028

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  1. Heat Exchangers Market- Global Industry Size, Share, Growth, Opportunity and Forecast, 2022-2028

  2. Global Heat Exchangers Market- Industry Trends & Forecast Report 2028 A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global heat exchangers market was worth USD 15.4 billion in the year 2021. It is estimated to grow at a CAGR of 4.70%, earning revenue of around USD 21.1 billion by the end of 2028. The global heat exchangers market is flourishing at a high rate owing to the rising focus and investment towards efficient thermal management for energy conservation and cost reduction. Furthermore, increasing installation of HVAC systems among residential, commercial, and industrial sectors is also playing a crucial role in driving the growth of the global heat exchangers market.

  3. Growth Drivers  Rising Installation of HVAC System The increasing installation of HVAC systems in various domains including residential, commercial, and industrial is emerging as one of the major driving factors for the growth of the global heat exchangers market. Heat exchangers are used in the HVAC system to assist in the cooling and heating of the homes as well as help the machines and engines to work more efficiently. Condensers, evaporators, earth coils, etc., are some of the most common types of heat exchangers used in HVAC Systems. Sample Copy of the report: https://www.blueweaveconsulting.com/report/heat-exchangers-market/report-sample

  4. Restraints  Frequent Fluctuations in the Prices of Raw Materials The manufacturers of heat exchangers had to undergo the constant risks of price fluctuations of raw materials, which acted as a major restraining factor for the market growth. The prices of raw materials such as copper, aluminum, titanium, nickel, etc., are directly influenced by its mining, demand, supply, etc. The economic conditions of the mining country along with exchange rates also impact the price of the raw materials. This may lead to huge losses to the manufacturers.

  5. Impact of COVID-19 The COVID-19 pandemic negatively impacted the growth of the global heat exchangers market. The operations of the end-user industries including chemical, oil and gas, power generation, etc., were completely halted due to lockdown and social distancing norms. Furthermore, the pandemic also led to fluctuations in the raw materials of heat exchangers due to supply chain disruptions and mining operations.  Also, the lack of a workforce during the pandemic also directly impacted the growth of the global heat exchangers market.

  6. Competitive Landscape The leading market players of the global heat exchangers market are ALFA LAVAL, Danfoss, Kelvion Holding GmbH, Mersen, Exchanger Industries Limited, General Electric Company, Sondex A/S, Xylem Inc., Hisaka Works, LTD.,  Modine Manufacturing, IHI Corporation, Koch Industries, Royal Hydraulics, and other prominent players. The market is fragmented and competitive with the presence of many global as well as regional industry participants. The companies constantly launch new products and significantly invest in research and development activities to bring innovations into their offerings. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.

  7. Regional InsightsGeographically, the global heat exchangers market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa. Europe dominates the global heat exchangers market owing to the strong adoption of HVAC systems in countries such as the United Kingdom, France, Germany, etc. The Asia-Pacific region is projected to witness the highest CAGR during the forecast period owing to the rising investment in the chemical and power industry of emerging economies such as China, India, Thailand, etc.

  8. Recent Development In March 2022,Supacolor, a US-based heat transfer manufacturer, announced plans to be adding gang sheets on a single heat transfer sheet. In February 2022, Lu-Ve Group, an Italian heat exchanger product manufacturer, announced the acquisition of a 75% stake in Refrion, the Italian producer of air-cooled condensers, dry coolers, and coils for 8.1 million euros.

  9. Key Players ALFA LAVAL, Danfoss, Kelvion Holding GmbH, Mersen, Exchanger Industries Limited, General Electric Company, Sondex A/S, Xylem Inc., Hisaka Works, LTD.,  Modine Manufacturing, IHI Corporation, Koch Industries, Royal Hydraulics, and other prominent players.

  10. About Us: Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well-informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade-off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavors successful.

  11. Contact Us:  +1 866 658 6826 +1 425 320 4776 +44 1865 60 0662  info(@)blueweaveconsulting.com  www.blueweaveconsulting.com

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