Heat Exchanger Market to Grow to $21.3 Billion by 2022
Emerging trends have a direct impact on the dynamics of the industry
IRVING, Texas — The global heat exchanger market is expected to reach an estimated $21.3 billion by 2022, and it is forecast to grow at a compound annual growth rate (CAGR) of 6.1 percent from 2017 to 2022, according to a report published by Lucintel. The major drivers of growth for this market are a rise in HVACR deployments, rapid industrialization, and stringent environmental regulations.
The study includes a forecast of the growth opportunities in the global heat exchanger market by application, product type, and region. By application, the report covers HVACR, chemical, food and beverage, paper and pulp, petrochemical and oil and gas, power generation, and others. By product type, it covers air-cooled, plate and frame, shell and tube, and others. By region, the report covers, North America, Asia-Pacific, Europe, and rest of the world.