PUNE, India — The North American heat exchangers market was valued at $4 billion in 2014 and is estimated to reach $5.5 billion by 2019, growing at a compound annual growth rate (CAGR) of 6.4 percent from 2014 to 2019, according to a report from MicroMarket Monitor.
Factors including increasing demand for heat exchangers across end user industries and rapid technological advancements are driving the heat exchangers market.
On the basis of application, the market is segmented into chemical; petrochemical and oil and gas; HVAC and refrigeration; food and beverage; pulp and paper; and power generation. In terms of type, the market is segmented into shell and tube type, plate and frame type, air cooled, and others. Based on classification, the market is segmented into material of construction (MoC), temperature range and fluid type, and others.
The heat exchangers market in the U.S. accounted for the largest share — 80.2 percent — in the North America market in 2014. Regarding type of heat exchanger, the shell and tube type accounted for the largest share in the North American market.
Some of the key manufacturers of heat exchangers include API Heat Transfer, Modine Manufacturing Co., SPX Corp., Tranter Inc., Xylem Inc., and others.
More information is available here.
Publication date: 12/16/2015