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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.
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.
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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