Technavio has announced its latest market research report titled Global Heat Exchanger Market 2020-2024 (Graphic: Business Wire)
Technavio has announced its latest market research report titled Global Heat Exchanger Market 2020-2024 (Graphic: Business Wire)
LONDON--(BUSINESS WIRE )--The heat exchanger market is expected to grow by USD 2.81 billion, progressing at a CAGR of about 3% during the forecast period.
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The demand from water and wastewater industry is one of the major factors propelling market growth. However, factors such as fouling of heat exchangers will hamper the market growth.
More details: https://www.technavio.com/report/heat-exchanger-market-industry-analysis
Heat Exchanger Market: Product Landscape
The shell and tube heat exchanger segment comprises three different types of shell and tube heat exchangers, namely u-tubes, straight tube heat exchangers, and straight tube heat exchangers. These heat exchangers are increasingly used for high-temperature and high-pressure applications in oil refineries and other large chemical processes. Market growth in the shell and tube segment will be faster than the growth of the market in the plate and frame, cooling tower, air cooled, and others' segments.
Heat Exchanger Market: Geographic Landscape
APAC will offer several growth opportunities to market vendors during the forecast period. The increasing demand for sustainable energy, fresh water, and agricultural and processed food products will significantly drive heat exchanger market growth in this region over the forecast period. 46% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for heat exchanger units in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/
The Heat Exchanger Market will grow by USD 2.81 bn during 2020-2024
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/