Global heat exchanger market is expected to grow with an impressive CAGR in the forecast period of 2022-2026. The market for heat exchanger is growing on the account of increasing usage of heat exchanger in oil and gas industries. Moreover, the device is employed in various factories with purpose pertaining to industrial applications in steam power plant, chemical processing plants, building heat, etc. Since these industries and their production is increasing so is the demand for heat exchangers in these industries. Thus, driving the growth of global heat exchanger market in the upcoming five years.

Global heat exchanger market is segmented by product type, material, end-user, and regional distribution. Based on product type the market is further fragmented into plate & frame, shell & tube, and air cooled. Plate and frame sub-segment are further categorized into brazed, gasketed, and welded type of heat exchanger. Shell & tube type of heat exchangers are expected to continue its dominance in the market because of its cost-effectiveness over its counterparts in the market. Moreover, this type of heat exchanger is easily applicable even in high operating temperature and pressure thereby fueling the demand for the global heat exchanger market.

Some of the major competitors in the market are ALFA Laval AB, GEA Group Aktiengesellschaft, Xylem Incorporated, SPX Corporation, Danfoss, Hamon & Cie (International) SA, Modine Manufacturing Company, FUNKE Wärmeaustauscher Apparatebau GmbH, Sondex Holding, API Heat Transfer Incorporated, among others. The companies are focusing on extensive research and developments activities to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships.

Years considered for this report:

Historical Years: 2016 – 2019

Base Year: 2020

Estimated Year: 2021

Forecast Period: 2022 – 2026

Objective of the Study:

  • To analyze the historical growth of the market size of global heat exchanger market from 2016 to 2019.
  • To estimate and forecast the market size of global heat exchanger market from 2020 to 2026 and growth rate until 2026. 
  • To classify and forecast global heat exchanger market based on product type, material, end-user, region, and company.
  • To identify dominant region or segment in the global heat exchanger market.
  • To identify drivers and challenges for global heat exchanger market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global heat exchanger market.
  • To identify and analyze the profile of leading players operating in global heat exchanger market.
  • To identify key sustainable strategies adopted by market players in global heat exchanger market.


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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers, suppliers, and service providers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufactures which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufactures, distribution channels and presence of all major players across the country.

TechSci Research calculated the market size of global heat exchanger market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

  • Manufacturers, end users, service providers and other stakeholders
  • Distributers and suppliers of heat exchanger products and other stakeholders
  • Organizations, forums, and alliances related to heat exchanger market   
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as vendors, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, global heat exchanger market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Global Heat Exchanger Market, By Product Type:
    • Plate & Frame (Brazed, Gasketed, Welded)
    • Shell & Tube
    • Air Cooled
  • Global Heat Exchanger Market, By Material:
    • Carbon Steel
    • Stainless Steel
    • Nickel
    • Others
  • Global Heat Exchanger Market, By End User:
    • Chemical
    • Petrochemical
    • Oil & Gas
    • HVACR
    • Food & Beverage
    • Power Generation
    • Others
  • Global Heat Exchanger Market, By Region:
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • United Kingdom
      • Italy
      • Spain
    • Asia-Pacific
      • China
      • Japan
      • India
      • South Korea
      • Australia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
      • Kuwait
    • South America
      • Brazil
      • Argentina
      • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global heat exchanger market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
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1.    Product Overview

2.    Research Methodology

3.    Executive Summary

4.    Global Heat Exchanger Market Outlook

4.1.  Market Size & Forecast

4.1.1.     By Value (USD Million) & By Volume

4.2.  Market Share & Forecast

4.2.1.     By Product Type (Plate & Frame {Brazed, Gasketed, Welded}, Shell & Tube, Air Cooled)

4.2.2.     By Material (Carbon Steel, Stainless Steel, Nickel, and Others)

4.2.3.     By End-User (Chemical, Petrochemical, Oil & Gas, HVACR, Food & Beverage, Power Generation, and Others)

4.2.4.     By Company (2020)

4.2.5.     By Region

4.3.  Product Market Map

5.    Asia-Pacific Heat Exchanger Market Outlook

5.1.  Market Size & Forecast          

5.1.1.     By Value (USD Million) & By Volume

5.2.  Market Share & Forecast

5.2.1.     By Product Type

5.2.2.     By Material

5.2.3.     By End-User

5.2.4.     By Country

5.3.  Asia-Pacific: Country Analysis

5.3.1.     China Heat Exchanger Market Outlook

5.3.1.1.         Market Size & Forecast

5.3.1.1.1.             By Value (USD Million) & By Volume

5.3.1.2.         Market Share & Forecast

5.3.1.2.1.             By Product Type

5.3.1.2.2.             By Material

5.3.1.2.3.             By End-User

5.3.2.     India Heat Exchanger Market Outlook

5.3.2.1.         Market Size & Forecast

5.3.2.1.1.             By Value (USD Million) & By Volume

5.3.2.2.         Market Share & Forecast

5.3.2.2.1.             By Product Type

5.3.2.2.2.             By Material

5.3.2.2.3.             By End-User

5.3.3.     Australia Heat Exchanger Market Outlook

5.3.3.1.         Market Size & Forecast

5.3.3.1.1.             By Value (USD Million) & By Volume

5.3.3.2.         Market Share & Forecast

5.3.3.2.1.             By Product Type

5.3.3.2.2.             By Material

5.3.3.2.3.             By End-User

5.3.4.     Japan Heat Exchanger Market Outlook

5.3.4.1.         Market Size & Forecast

5.3.4.1.1.             By Value (USD Million) & By Volume

5.3.4.2.         Market Share & Forecast

5.3.4.2.1.             By Product Type

5.3.4.2.2.             By Material

5.3.4.2.3.             By End-User

5.3.5.     South Korea Heat Exchanger Market Outlook

5.3.5.1.         Market Size & Forecast

5.3.5.1.1.             By Value (USD Million) & By Volume

5.3.5.2.         Market Share & Forecast

5.3.5.2.1.             By Product Type

5.3.5.2.2.             By Material

5.3.5.2.3.             By End-User

6.    Europe Heat Exchanger Market Outlook

6.1.  Market Size & Forecast          

6.1.1.     By Value (USD Million) & By Volume

6.2.  Market Share & Forecast

6.2.1.     By Product Type

6.2.2.     By Material

6.2.3.     By End-User

6.2.4.     By Country

6.3.  Europe: Country Analysis

6.3.1.     France Heat Exchanger Market Outlook

6.3.1.1.         Market Size & Forecast

6.3.1.1.1.             By Value (USD Million) & By Volume

6.3.1.2.         Market Share & Forecast

6.3.1.2.1.             By Product Type

6.3.1.2.2.             By Material

6.3.1.2.3.             By End-User

6.3.2.     Germany Heat Exchanger Market Outlook

6.3.2.1.         Market Size & Forecast

6.3.2.1.1.             By Value (USD Million) & By Volume

6.3.2.2.         Market Share & Forecast

6.3.2.2.1.             By Product Type

6.3.2.2.2.             By Material

6.3.2.2.3.             By End-User

6.3.3.     United Kingdom Heat Exchanger Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.             By Value (USD Million) & By Volume

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.             By Product Type

6.3.3.2.2.             By Material

6.3.3.2.3.             By End-User

6.3.4.     Italy Heat Exchanger Market Outlook

6.3.4.1.         Market Size & Forecast

6.3.4.1.1.             By Value (USD Million) & By Volume

6.3.4.2.         Market Share & Forecast

6.3.4.2.1.             By Product Type

6.3.4.2.2.             By Material

6.3.4.2.3.             By End-User

6.3.5.     Spain Heat Exchanger Market Outlook

6.3.5.1.         Market Size & Forecast

6.3.5.1.1.             By Value (USD Million) & By Volume

6.3.5.2.         Market Share & Forecast

6.3.5.2.1.             By Product Type

6.3.5.2.2.             By Material

6.3.5.2.3.             By End-User

7.    North America Heat Exchanger Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value (USD Million) & By Volume

7.2.  Market Share & Forecast

7.2.1.     By Product Type

7.2.2.     By Material

7.2.3.     By End-User

7.2.4.     By Country

7.3.  North America: Country Analysis

7.3.1.     United States Heat Exchanger Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value (USD Million) & By Volume

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Product Type

7.3.1.2.2.             By Material

7.3.1.2.3.             By End-User

7.3.2.     Mexico Heat Exchanger Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value (USD Million) & By Volume

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Product Type

7.3.2.2.2.             By Material

7.3.2.2.3.             By End-User

7.3.3.     Canada Heat Exchanger Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value (USD Million) & By Volume

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Product Type

7.3.3.2.2.             By Material

7.3.3.2.3.             By End-User

8.    South America Heat Exchanger Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value (USD Million) & By Volume

8.2.  Market Share & Forecast

8.2.1.     By Product Type

8.2.2.     By Material

8.2.3.     By End-User

8.2.4.     By Country

8.3.  South America: Country Analysis

8.3.1.     Brazil Heat Exchanger Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value (USD Million) & By Volume

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Product Type

8.3.1.2.2.             By Material

8.3.1.2.3.             By End-User

8.3.2.     Argentina Heat Exchanger Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value (USD Million) & By Volume

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Product Type

8.3.2.2.2.             By Material

8.3.2.2.3.             By End-User

8.3.3.     Colombia Heat Exchanger Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value (USD Million) & By Volume

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Product Type

8.3.3.2.2.             By Material

8.3.3.2.3.             By End-User

9.    Middle East and Africa Heat Exchanger Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value (USD Million) & By Volume

9.2.  Market Share & Forecast

9.2.1.     By Product Type

9.2.2.     By Material

9.2.3.     By End-User

9.2.4.     By Country

9.3.  MEA: Country Analysis

9.3.1.     South Africa Heat Exchanger Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value (USD Million) & By Volume

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Product Type

9.3.1.2.2.             By Material

9.3.1.2.3.             By End-User

9.3.2.     Saudi Arabia Heat Exchanger Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value (USD Million) & By Volume

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Product Type

9.3.2.2.2.             By Material

9.3.2.2.3.             By End-User

9.3.3.     UAE Heat Exchanger Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value (USD Million) & By Volume

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Product Type

9.3.3.2.2.             By Material

9.3.3.2.3.             By End-User

9.3.4.     Kuwait Heat Exchanger Market Outlook

9.3.4.1.         Market Size & Forecast

9.3.4.1.1.             By Value (USD Million) & By Volume

9.3.4.2.         Market Share & Forecast

9.3.4.2.1.             By Product Type

9.3.4.2.2.             By Material

9.3.4.2.3.             By End-User

10.  Market Dynamics

10.1.              Drivers

10.2.              Challenges

11.  Market Trends & Developments

12.  Competitive Landscape

12.1.              ALFA Laval AB

12.2.              GEA Group Aktiengesellschaft

12.3.              Xylem Incorporated

12.4.              SPX Corporation

12.5.              Danfoss

12.6.              Hamon & Cie (International) SA

12.7.              Modine Manufacturing Company

12.8.              FUNKE Wärmeaustauscher Apparatebau GmbH

12.9.              Sondex Holding

12.10.            API Heat Transfer Incorporated.

13.  Strategic Recommendations

14. About Us & Disclaimer

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