Canada Heat Exchangers Market Size & Outlook, 2023-2030
Canada heat exchangers market, 2018-2030 (US$M)
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Canada heat exchangers market highlights
- The Canada heat exchangers market generated a revenue of USD 626.6 million in 2023 and is expected to reach USD 910.0 million by 2030.
- The Canada market is expected to grow at a CAGR of 5.5% from 2024 to 2030.
- In terms of segment, shell & tube was the largest revenue generating product in 2023.
- Plate & Frame is the most lucrative product segment registering the fastest growth during the forecast period.
Heat exchangers market data book summary
| Market revenue in 2023 | USD 626.6 million |
| Market revenue in 2030 | USD 910.0 million |
| Growth rate | 5.5% (CAGR from 2023 to 2030) |
| Largest segment | Shell & tube |
| Fastest growing segment | Plate & Frame |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Plate & Frame, Shell & Tube, Air-cooled |
| Key market players worldwide | Alfa Laval AB, Danfoss A/S, Kelvion, Xylem Inc, API Heat Transfer, Mersen SA, Hisaka Works, Chart Industries Inc, Johnson Controls International PLC, HRS Heat Exchangers, SPX Technologies Inc, Koch Industries, Southern Co, Güntner, FUNKE |
Other key industry trends
- In terms of revenue, Canada accounted for 3.4% of the global heat exchangers market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. heat exchangers market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 523.5 million by 2030.
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Heat Exchangers Market Scope
Heat Exchangers Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada 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 35.6% in 2023. Horizon Databook has segmented the Canada heat exchangers market based on plate & frame, shell & tube, air-cooled covering the revenue growth of each sub-segment from 2018 to 2030.
Canada's chemical industry emphasizes mainly on natural gas and crude petroleum processing, along with the refining of coal and ores. The country is increasingly undertaking exploration activities of natural gas, which is expected to drive chemical and petrochemical industries over the forecast period.
Power generation industry in Canada is expected to witness growth, primarily owing to the rising population, rapid urbanization, and increased immigration rate. The growing power generation industry expected to drive the heat exchangers market.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada heat exchangers market , including forecasts for subscribers. This country databook contains high-level insights into Canada heat exchangers market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada heat exchangers market size, by product, 2018-2030 (US$M)
Canada Heat Exchangers Market Outlook Share, 2023 & 2030 (US$M)
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