Albany, NY -- (SBWIRE) -- 07/10/2013 -- A heat exchanger is an integral part of petrochemical and chemical industries. It is used in various applications such as HVAC, steel production, power generation, pharmaceuticals, and in chemical industries. The chemical industry is the major end user of the heat exchanger. The global heat exchanger market is driven by factors such as the growing investments in end-user industries, and the increasing number of new construction projects. The new emerging technologies and the government support in certain regions will also act as drivers for the global heat exchanger market.

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The global heat exchanger market has shown remarkable progress in the recent years and is also showing attractive global market potential in the future. Asia-Pacific holds a majority of the market share owing to the developments in China and India. These two countries have made remarkable progress in the heat exchanger market by making prices more competitive. Russia and Eastern Europe are also showing wider opportunities for the global heat exchanger market owing to the new product developments.

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The global heat exchanger market is segmented into two major categories, on the basis of applications into: chemical and petrochemical processing, HVAC and refrigeration, steel production, food processing, pulp paper, pharmaceuticals, power generation, and other applications. The market is further segmented by geography into North America, Asia Pacific, Europe and rest of the world regions.

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