Global Heat Exchangers Market Size & Outlook, 2023-2030
Global heat exchangers market, 2018-2030 (US$M)
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Global heat exchangers market highlights
- The global heat exchangers market generated a revenue of USD 18,194.6 million in 2023 and is expected to reach USD 26,260.5 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 5.4% by 2030.
- In terms of segment, shell & tube accounted for a revenue of USD 6,478.5 million in 2023.
- Plate & Frame is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Europe was the largest revenue generating market in 2023.
- Country-wise, France is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 18,194.6 million |
| Market revenue in 2030 | USD 26,260.5 million |
| Growth rate | 5.4% (CAGR from 2023 to 2030) |
| Largest segment | Shell & tube |
| Fastest growing segment | Plate & Frame |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Plate & Frame, Shell & Tube, Air-cooled |
Other key industry trends
- In terms of revenue, the North America accounted for 20.8% of the global heat exchangers market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, France is the fastest growing regional market and is projected to reach USD 965.9 million by 2030.
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Heat Exchangers Market Scope
Heat Exchangers Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global heat exchangers market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to heat exchangers market will help companies and investors design strategic landscapes.
Shell & tube was the largest segment with a revenue share of 35.61% in 2023. Horizon Databook has segmented the Global heat exchangers market based on plate & frame, shell & tube, air-cooled covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Heat Exchangers Product Outlook (Revenue, USD Million, 2018-2030)
- Plate & Frame
- Brazed
- Gasketed
- Welded
- Others
- Shell & Tube
- Hastelloy
- Titanium
- Nickel & Nickel Alloys
- Tantalum
- Steel
- Others
- Air-cooled
- Others
- Plate & Frame
- Global Heat Exchangers End Use Outlook (Revenue, USD Million, 2018-2030)
- Chemical & Petrochemical
- Oil & Gas
- HVAC & refrigeration
- Power Generation
- Food & Beverage
- Pulp & Paper
- Others
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Horizon Databook provides a detailed overview of global-level data and insights on the Global heat exchangers market , including forecasts for subscribers. This global databook contains high-level insights into Global heat exchangers market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global heat exchangers market size, by regions, 2018-2030 (US$M)
Top 10 countries: Heat exchangers market size, 2023 (US$M)
Global heat exchangers market share, by product, 2023 & 2030 (%, US$M)
Heat exchangers market: Opportunity assessment by country
Global heat exchangers market, by region, 2023 (US$M)
| Product | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 3,464.6 | 3,669.0 | 3,513.5 | 3,615.0 | 3,657.0 | 3,783.4 | 3,926.4 | 4,088.7 | 4,273.6 | 4,485.0 | 4,727.6 | 4,994.7 | 5,294.8 | 4.9% |
| Europe | 5,384.6 | 5,730.0 | 5,452.1 | 5,578.6 | 5,611.7 | 5,774.4 | 5,961.7 | 6,177.8 | 6,428.2 | 6,719.5 | 7,060.0 | 7,433.9 | 7,856.7 | 4.5% |
| Asia Pacific | 4,948.2 | 5,312.2 | 5,191.3 | 5,368.6 | 5,465.7 | 5,697.8 | 5,967.6 | 6,282.8 | 6,652.7 | 7,089.6 | 7,608.8 | 8,191.3 | 8,863.9 | 6.5% |
| Latin America | 1,284.4 | 1,374.6 | 1,331.8 | 1,368.2 | 1,383.1 | 1,431.3 | 1,487.9 | 1,554.4 | 1,632.9 | 1,726.2 | 1,837.8 | 1,961.8 | 2,104.7 | 5.7% |
| MEA | 1,384.8 | 1,469.4 | 1,422.2 | 1,454.2 | 1,464.1 | 1,507.6 | 1,559.1 | 1,620.4 | 1,693.6 | 1,781.5 | 1,887.8 | 2,005.2 | 2,140.5 | 5.1% |
| Overall | 16,466.6 | 17,555.1 | 16,910.9 | 17,384.5 | 17,581.5 | 18,194.5 | 18,902.7 | 19,724.0 | 20,681.0 | 21,801.8 | 23,121.9 | 24,587.0 | 26,260.5 | 5.4% |
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