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Heat Exchangers Market is Expected to Reach USD 18 Billion by 2020 in terms of Revenue: Transparency Market Research

Albany - NY, Oct. 19, 2015 (GLOBE NEWSWIRE) -- Maximizing thermal efficiency is the primary 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. These equipments are widely used for space heating, refrigeration, air conditioning, in power plants, chemical plants, petrochemical plants, petroleum refineries, natural gas processing plants, and sewage treatment plants. The common example of a heat exchanger is found in an internal combustion engine, in which a circulating fluid known as engine coolant flows through radiator coils and air flows past the coils, cooling the coolant and releasing the heat generated by the engine, into open air.

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Rapid growth in power consumption from the industrial sector is further contributing to the rapid pace of growth for the heat exchanger market. Condensers are a crucial element of any power station. They are the interface between the water/steam cycle and the heat sink. Condenser performances have a direct impact on the power station's output and the availability of electric power. Condensers need to meet sustained high-performance requirements, since any rise in pressure at the turbine exhaust may cause substantial power loss. This inevitable category of heat exchanger is implemented in most power generation plants across the globe. Thus, demand for heat exchangers will necessarily grow as new power stations are established.

Moreover, the fabrication costs of heat exchangers have declined as technology has progressed. Modern plate heat exchangers use pressed plates, which are less expensive than the welded plates used on earlier models. Pressed plates are also more resistant to corrosion and chemical reactions that could weaken the heat exchanger and hence require more frequent replacement. Many heat exchanges have even been modified with particular attention given to the ease of cleaning the equipment. For example, with plate heat exchangers, one can easily remove and replace plates individually rather than needing to take the whole system apart. Moreover, many modern heat exchangers are very adaptable, which makes them suited for a wide variety of tasks. Presently, heat exchangers are manufactured with a compact and efficient design, which makes them useful in mobile applications. Though early heat exchangers were often as large as a refrigerator, heat exchangers as of 2011 are as small portable heaters. Heat exchangers are also quite flexible, because the fluid used to mediate the thermal exchange can be modified as per design specifications. This is an integral factor that has a long-term impact on the operations' cost of the process plant as well as the equipment.

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This research study is designed to estimate, analyze, and forecast the global heat exchanger market. The overall market has been estimated on the basis of revenue. The research provides in-depth analysis of manufacturers and suppliers in the heat exchanger industry, which are involved in the business at various levels of the value chain. The research includes detailed analysis, historical data, and statistically refined forecast for the segments covered. On the other hand, end-user industries that use heat exchangers as a long-term backup source generally prefer to purchase new ones. As a result, market size for heat exchangers varies depending on need and preference of end-user industries.

The product type analysis for heat exchangers was estimated, keeping in mind the major construction and expansion projects planned by the governments across the globe. It was estimated that during harsh winter weather, project developers generally prefer renting heat exchangers. However, post construction, operators prefer buying new units. While conducting the study, we took into consideration the key construction projects planned till 2020 such as refineries, offshore installations, large offshore vessels, etc. However, while analyzing the market for heat exchangers, we found it feasible to do the analysis only in terms of revenue. We have considered 2013 as the base year for this study, while all forecasts have been done for 2014 to 2020. Qualitative analysis such as major planned projects and investment by oil and gas operators were considered while computing the revenue market size for heat exchangers.

This research analyzes and estimates the performance and market of heat exchanger systems in the global scenario, providing detailed trend analysis of the market by geography and comprehensive analysis of companies that are dealing in heat exchanger systems. The report presents a thorough assessment of the strategies followed by different stakeholders by segmenting the heat exchanger systems market as below:

Global Heat Exchangers Market: Product Type Analysis

  • Air Cooled
  • Plate and Frame
  • Shell and Tube
  • Others (Condensers, Oil Coolers, and Radiators)

Global Heat Exchangers Market: End User Industry Analysis

  • HVAC
  • Chemicals and Petrochemicals
  • Power Generation
  • thers (Food Processing, Aerospace, and Medical)

Global Heat Exchangers Market: Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World (RoW)

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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Source:Transparency Market Research