Albany, NY -- (SBWIRE) -- 12/11/2015 -- A device used to transfer heat from one fluid to another without direct contact of the fluids. Heat exchangers contain a hot fluid that flows through one part of the exchanger and transfers its heat either to a cold fluid (water or air, for example) in another part or to the air outside of the exchanger. Heat Exchangers are an integral part of many businesses which includes industries, buildings, power generation and transport. The market for heat exchangers has been segmented on the basis of types and applications with major types including shell and tube heat exchangers and plate heat exchangers and major application areas being chemical industry, oil and gas industry, HVAC, food and beverage and power generation amongst the others.
The global market for heat exchangers has grown significantly during the past few years and is expected to grow at a more rapid pace for the next few years. The key factor contributing to this growth is the increasing industrial activities in developing countries, increasing demand from many parts of the world with the Asia-Pacific region accounting for the higher share of the market. New emerging technologies and regulations in certain regions have also helped in the growth of the industry.
Regional Analysis of the heat exchanger market reveals that North America is the fastest growing region in terms of demand of heat exchangers whereas Asian countries are experiencing the highest demand globally, mainly due to new manufacturers entering the industry. Europe is also showing abundant signs of improvement and this can be seen from the statistics of rising demand of heat exchanger.
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The report titled "Global Heat Exchanger Market: Trends and Opportunities (2015 Edition)" analyzes the potential opportunities and significant trends in the global heat exchanger industry.
The market size and forecast in value terms for global heat exchanger market has been provided for the period 2015 to 2019, considering 2014 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2015 to 2019. Over the next five years, global heat exchanger market is forecasted to grow due to increasing industrial activities in developing countries.
The report provides detailed analysis of the heat exchanger market sizing and future growth by type for the period 2009-2014. The heat exchanger industry is divided into four broad types namely plate & frame, shell & tubes, cooling towers and air cooled heat exchangers. Plate and Frame type is more likely to grow than other types for the next 5 years. It also provides detailed market share analysis of the global heat exchanger market by its application/end users.
Furthermore, it profiles key market players such as GEA group, Danfoss Group and Xylem Inc on the basis of attributes such as company overview, sustainability, recent developments strategies adopted by the market leaders to ensure growth, financial overview and recent developments.
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