According to the “Heating Equipment Market in the U.S.” study from The Freedonia Group, forced-air heating is the preferred comfort delivery method in the U.S. Of those, warm-air furnaces comprise the vast majority of the overall demand with 64 percent of the total value of sales in 2016.

The global heat exchangers market was valued $12.61 billion in 2015 and is projected to reach $20.12 billion by 2022, growing at a compound annual growth rate (CAGR) of 6.9 percent from 2016 to 2022, according to Heat Exchangers Market Report published by Allied Market Research. The shell and tube heat exchanger segment held approximately one-fourth of the total market share in 2015.