North America Heat Exchangers Market Size & Outlook
North America heat exchangers market, 2018-2030 (US$M)
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North America heat exchangers market highlights
- The North America heat exchangers market generated a revenue of USD 3,783.4 million in 2023.
- The market is expected to grow at a CAGR of 4.9% 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.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 3,783.4 million |
| Market revenue in 2030 | USD 5,294.8 million |
| Growth rate | 4.9% (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 |
| 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, North America region accounted for 20.8% of the global heat exchangers market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 8,863.9 million by 2030.
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Heat Exchangers Market Scope
Heat Exchangers Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America 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 35.45% in 2023. Horizon Databook has segmented the North America heat exchangers market based on plate & frame, shell & tube, air-cooled covering the revenue growth of each sub-segment from 2018 to 2030.
North America accounted for the third-largest revenue share of the global heat exchangers market in 2020. The demand for heat exchangers in the region is likely to be driven over the forecast period on account of increased adoption of the product in key application sectors including chemical, petrochemical, oil & gas, and power generation.
The North American economy is the largest and strongest in the world and is witnessing significant growth owing to the industrial dynamics and commodity abundance in its countries. The region includes the U.S., Mexico, and Canada, which are significant and complex economic systems.
Increasing oil & gas exploration activities in the U.S. and Canada are expected to drive the demand for heat exchangers in the region. Surging energy demand in various industrial and commercial sectors is expected to boost power and energy sectors over the forecast period.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America heat exchangers market , including forecasts for subscribers. This continent databook contains high-level insights into North America heat exchangers market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America heat exchangers market size, by country, 2018-2030 (US$M)
North America Heat Exchangers Market Outlook Share, 2023 & 2030 (US$M)
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