SAN JOSE, Calif. — Research analyst Global Industry Analysts Inc. (GIA) is estimating that the global market for heat exchangers is projected to reach $20.8 billion by 2018.
According to the GIA report, titled “Heat Exchangers: A Global Strategic Business Report,” the market for heat exchangers continues to be driven by technology innovation and development. Improvements in energy efficiencies will emerge as a key differentiating factor for manufacturers to compete in the marketplace. Also poised to drive future gains are innovations that help lower total ownership costs, increase durability and efficiency of heat exchangers, and reduce vibration-induced premature failures, especially in shell- and tube-heat exchangers.