What's Driving the Heat Exchanger Market Trends? Prominent Players: Doosan, Larsen & Toubro, Alfa Laval, API Heat Transfer, Xylem, SPX FLOW
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Stringent government mandates to reduce carbon footprint along with robust industrial sector growth will boost the heat exchanger market growth. Introduction of emission reduction targets across key developing economies with an aim to counter the adverse impact of global warming has resulted in increasing investments toward replacement of process equipment. Moreover, rising focus toward generating capacity addition coupled with positive outlook for chemical sector will complement the business landscape.
Middle East & Africa heat exchanger market is predicted to expand over 7% by 2025. Rising investments from financial institutions, most notably the African Development Bank, in order to thrust the industrialization rate accompanied by resurgent economic growth will stimulate business expansion. Lucrative Oil & Gas sector across the region coupled with positive outlook toward expansion and development of the manufacturing units will further strengthen the product adoption in coming years.
Growth Drivers Heat Exchanger Market:
o Rising focus to reduce carbon footprint
o Robust industrial sector growth
o Stringent emission norms
o Growing demand for centralized heating systems
Shell & tube heat exchanger market is set to witness robust growth owing to the product's ability to offer high efficiency, reduced cost, and lower pressure drop. Moreover, sizeable investments aimed at the expansion and modernization of chemical production units along with rising adoption of WHRS across industrial sector will augment the business growth. Oil & Gas, primary metal manufacturing, electric power plants and food processing are few key application areas where this equipment are deployed.
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Rising government focus toward upgradation and development of new industrial centers coupled with expansion of existing manufacturing units will drive the China heat exchanger market. At present, the country accounts for over 40% of the global manufacturing value added and is rapidly emerging as a manufacturing hub. Increasing investment across metallurgy, chemical and Oil & Gas sectors coupled with rising urbanization rate will stimulate the industry growth.
Table Of Content:
Chapter 4 Heat Exchanger Market, By Technology
4.1 Heat exchanger market share by technology, 2018 & 2025
4.2 Shell & Tube
4.2.1 Global market from shell & tube, 2014 - 2025
4.2.2 Global market from shell & tube, by region, 2014 - 2025
4.3.1 Global market from plate, 2014 - 2025
4.3.2 Global market from plate, by region, 2014 - 2025
4.4 Air Cooled
4.4.1 Global market from air cooled, 2014 - 2025
4.4.2 Global market from air cooled, by region, 2014 - 2025
4.5.1 Global market from others, 2014 - 2025
4.5.2 Global market from others, by region, 2014 - 2025
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