Saudi Arabia Heat Exchangers Market Size & Outlook
Saudi Arabia heat exchangers market, 2018-2030 (US$M)
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Saudi Arabia heat exchangers market highlights
- The Saudi Arabia heat exchangers market generated a revenue of USD 336.4 million in 2023 and is expected to reach USD 466.6 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 4.8% 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 336.4 million |
| Market revenue in 2030 | USD 466.6 million |
| Growth rate | 4.8% (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, Saudi Arabia accounted for 1.8% 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 Middle East & Africa, UAE heat exchangers market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 582.7 million by 2030.
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Heat Exchangers Market Scope
Heat Exchangers Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia 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 35.46% in 2023. Horizon Databook has segmented the Saudi Arabia heat exchangers market based on plate & frame, shell & tube, air-cooled covering the revenue growth of each sub-segment from 2018 to 2030.
The Kingdom of Saudi Arabia is predominantly an oil-based economy with a majority of economic activities controlled by the government in the country. However, the government is making an effort to boost the growth of non-oil industries, thereby fueling the growth of manufacturing sector.
Oil-based industries in the country include the companies engaged in the production of oil, industrial gas, petrochemicals, and refineries of petroleum, ammonia, and caustic. Thus, the presence of vast oil & gas reserves coupled with a robust infrastructure for processing oil is anticipated to propel the growth of petrochemical industry, thereby boosting the demand for heat exchangers.
Saudi Arabia has invested in large petrochemical projects, including the Petro Rabigh refinery, the Ras Tanura refinery, and Jizan Export refinery, thereby driving the demand for heat exchangers for setting up chemical and petrochemical processing facilities in the country.
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia heat exchangers market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia heat exchangers market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia heat exchangers market size, by product, 2018-2030 (US$M)
Saudi Arabia Heat Exchangers Market Outlook Share, 2023 & 2030 (US$M)
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