IMARC Group’s latest research report, titled “Heat Exchanger Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global heat exchanger market size reached a value of US$ 16.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 23.4 Billion by 2027, exhibiting at a CAGR of 6% during 2022-2027. A heat exchanger refers to a device that is designed to transfer heat from one fluid to another and control the temperature of a system. These devices use less energy and emit less pollution in comparison to the conventional methods of cooling. As a result, they find extensive application in air conditioning systems, sewage treatment, furnaces, boilers, and automotive radiators.
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Important Attribute and highlights of the Report:
The global market is majorly driven by the increasing environmental concerns among consumers regarding the use of energy-efficient devices. Furthermore, the widespread adoption of heat, ventilation, and air-conditioning (HVAC) across commercial, industrial, and residential sectors represents another key factor driving the market growth. Moreover, the rising investment by the key market players in research and development (R&D) activities to manufacture an efficient heat exchanger has created a positive outlook for the market. Additionally, regulations imposed by the government of several countries to reduce the emission of carbon have positively influenced the market growth across the globe. Other factors, including inflating disposable income levels, rising population, rapid urbanization, and extreme average climatic conditions have provided an impetus to market growth across the globe.
Key Players Included in Global Heat Exchanger Market Research Report:
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
TOC for the Heat Exchanger Market Research Report:
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