April 29, 2022 08:30 ET | Source: Transparency Market Research Transparency Market Research
Albany, New York, UNITED STATES
ALBANY, N.Y., April 29, 2022 (GLOBE NEWSWIRE) -- The heat exchangers market is projected to expand at a CAGR of 6% during the forecast period from 2021 to 2031. Exponential rise in demand for power for industrial, commercial, and domestic use is leading to the establishment of newer power plants, and subsequent demand for heat exchangers in power plants to minimize energy loss.
In power generation plants, condensers form a group of heat exchanger devices that are a vital element connecting the heat sink and the steam cycle. The correlation of performance of condensers with the output of power stations and availability of electric power substantiates growing demand for the equipment.
The rapid development of heating, ventilation, and air conditioning (HVAC) industry, along with swift expansion of energy generation capacity in power and hydrocarbons sectors is anticipated to stir the demand for heat exchangers.
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Asia Pacific is expected to account for the leading share of the heat exchangers market during the forecast period. Massive investments for infrastructural development and industrialization in developing countries of the region necessitating increasing energy production is leading to the increasing demand for different types of heat exchangers, in particular shell and tube types.
Heat Exchangers Market – Key Findings of Report
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Heat Exchangers Market – Growth Drivers
Heat Exchangers Market – Key Players
Some of the key players operating in the heat exchangers market are;
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The heat exchangers market is segmented as follows;
Heat Exchangers Market, by Product Type
Heat Exchangers Market, by End-user
Heat Exchangers Market, by Region
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