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Slow Economic Growth and Lingering Uncertainties in Key End-Use Sectors Make for a Mixed Outlook for the Global Heat Exchangers Market


Published: October 2017

REPORT STATISTICS


  • Code: MCP-1159
  • Pages: 688
  • Tables: 174
  • Companies: 434


HEAT EXCHANGERS: A RESEARCH BRIEF

The global market for Heat Exchangers is forecast to reach US$27 billion by 2024 supported by opportunities for growth despite the challenges posed by the hugely mixed market expectations. The biggest challenge to growth is the current global economic scenario, which although improving continues to fall short of expectations. The market is currently facing all the challenges commensurate with a global economy that has been witnessing a prolonged period of slow growth amid numerous downside risks and uncertainties. Notwithstanding these ever-present challenges, opportunities for growth also remain equally rampant led by factors such as stable economic growth in East Asia and South Asia and development of energy infrastructure in these regions, strong manufacturing base and growing government policy led support for upgrades and modernization. The market, especially in the developed regions will witness greater demand for equipment that complies with strict regulatory and safety norms. Europe represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 6.1% over the analysis period led by factors such as positive CAPEX and OPEX investment climate in the sector; and favorable government led policies that prioritize industrial, manufacturing and process sectors for their ability to generate benefits of dynamic economies of scale, innovation/technology diffusion and spillover of a broad range of benefits for the economy and its growth. 

    Summary of Findings

  • The Market Offers Ample Growth Opportunities for Companies with Winning Culture Anchored to Innovation, Even Amid a Global Economy Struggling to Recover from Persistent Stagnation
  • Slow Recovery in Industrial YoY Production Growth To Nudge Focus On New Strategies to Upgrade Productive Plant Assets, Including Heat Exchangers
  • China’s Current Dominant Hold on Global Manufacturing Output & Its Central Role in World Trade Makes the Country a Major Market for Heat Exchangers in Asia
  • Expected Recovery in Crude Oil Prices, Following the Steep Decline of the Last Few Years, Brightens the Outlook for Heat Exchangers for Cleaning & Cooling Functions in the Oil and Gas Sector
  • Much Awaited Recovery in Deepwater Drilling Projects & Demand for Subsea Heat Exchangers to Materialize Only Beyond 2020

    Timeline for Analysis

  • Market Estimates and Forecasts for 2016-2024
  • Historic Review 2011-2015

    Geographic Markets Analyzed

  • US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Latin America, and Rest of World

    Market Segmentation & Classification

  • Product Segments:
    • Shell and Tube Heat Exchangers, Plate and Frame Heat Exchangers (Gasketed PHE, Welded PHE, Brazed PHE, & Other PHE), Air Coolers, Cooling Towers, and Other Heat Exchangers.
  • End-Use Segments:
    • Chemicals Industry, Oil & Gas Industry, Industrial HVAC and Refrigeration, Food and Beverage, Power Generation, and Others

MAJOR PLAYERS

  • Air Products and Chemicals, Inc.
  • API Heat Transfer
  • Alfa Laval AB
  • Barriquand Technologies Thermiques
  • Chicago Bridge & Iron Company N.V.
  • Hamon Group

KEY RESEARCH DELIVERABLES

  • Review of Industry/Market Structure
  • Analysis of Trends & Drivers
  • Insights on Macro Market Scenarios
  • Market SWOT Analysis
  • Latent Demand Forecasts & Projections
  • Comprehensive Geographic Market Analysis
  • Presentation Ready Facts & Statistical Data Findings
  • Coverage of Major/Niche Players, Market Shares & Competition
  • Coverage of major Company/Technology/Product/Financial Stories
  • Extensive Product/Service/End-Use/Technology Coverage Where Applicable







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