The global Heat Exchanger market size is predicted to grow from US$ 17480 million in 2025 to US$ 24810 million in 2031; it is expected to grow at a CAGR of 6.0% from 2025 to 2031.
Heat Exchangers is a piece of equipment built for efficient heat transfer from one medium to another. Heat exchangers are devices whose primary responsibility is the transfer (exchange) of heat, typically from one fluid to another. However, they are not only used in heating applications, such as space heaters, but are also used in cooling applications, such as refrigerators and air conditioners.
Global Heat Exchanger key players include Alfa Laval, Kelvion (GEA), SPX, IHI, Danfoss (Sondex) etc. Global top five manufacturers hold a share over 35%. Asia-Pacific is the largest market, with a share over 30%, followed by North America and Europe, both have a share over 50% percent.
In terms of product, Shell & Tube Heat Exchanger is the largest segment, with a share over 30%. And in terms of application, the largest application is Petrochemical, followed by Electric Power & Metallurgy.
The 鈥淗eat Exchanger Industry Forecast鈥� looks at past sales and reviews total world Heat Exchanger sales in 2024, providing a comprehensive analysis by region and market sector of projected Heat Exchanger sales for 2025 through 2031. With Heat Exchanger sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Heat Exchanger industry.
This Insight Report provides a comprehensive analysis of the global Heat Exchanger landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Heat Exchanger portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms鈥� unique position in an accelerating global Heat Exchanger market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Heat Exchanger and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Heat Exchanger.
This report presents a comprehensive overview, market shares, and growth opportunities of Heat Exchanger market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Shell & Tube Heat Exchanger
Plate Heat Exchanger
Air Cooled Heat Exchanger
Other Types
Segmentation by Application:
Petrochemical
Electric Power & Metallurgy
Shipbuilding Industry
Mechanical Industry
Central Heating
Food Industry
Other Applications
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Alfa Laval
Kelvion (GEA)
SPX
IHI
Danfoss (Sondex)
SPX-Flow
DOOSAN
API
KNM
Funke
Xylem
Thermowave
Hisaka
SWEP
LARSEN & TOUBRO
Accessen
THT
Hitachi Zosen
LANPEC
Siping ViEX
Beichen
Lanzhou LS
Defon
Ormandy
FL-HTEP
Key Questions Addressed in this Report
What is the 10-year outlook for the global Heat Exchanger market?
What factors are driving Heat Exchanger market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Heat Exchanger market opportunities vary by end market size?
How does Heat Exchanger break out by Type, by Application?
Please Note - This is an on demand report and will be delivered in 2 business days (48 hours) post payment.
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Heat Exchanger Annual Sales 2020-2031
2.1.2 World Current & Future Analysis for Heat Exchanger by Geographic Region, 2020, 2024 & 2031
2.1.3 World Current & Future Analysis for Heat Exchanger by Country/Region, 2020, 2024 & 2031
2.2 Heat Exchanger Segment by Type
2.2.1 Shell & Tube Heat Exchanger
2.2.2 Plate Heat Exchanger
2.2.3 Air Cooled Heat Exchanger
2.2.4 Other Types
2.3 Heat Exchanger Sales by Type
2.3.1 Global Heat Exchanger Sales Market Share by Type (2020-2025)
2.3.2 Global Heat Exchanger Revenue and Market Share by Type (2020-2025)
2.3.3 Global Heat Exchanger Sale Price by Type (2020-2025)
2.4 Heat Exchanger Segment by Application
2.4.1 Petrochemical
2.4.2 Electric Power & Metallurgy
2.4.3 Shipbuilding Industry
2.4.4 Mechanical Industry
2.4.5 Central Heating
2.4.6 Food Industry
2.4.7 Other Applications
2.5 Heat Exchanger Sales by Application
2.5.1 Global Heat Exchanger Sale Market Share by Application (2020-2025)
2.5.2 Global Heat Exchanger Revenue and Market Share by Application (2020-2025)
2.5.3 Global Heat Exchanger Sale Price by Application (2020-2025)
3 Global by Company
3.1 Global Heat Exchanger Breakdown Data by Company
3.1.1 Global Heat Exchanger Annual Sales by Company (2020-2025)
3.1.2 Global Heat Exchanger Sales Market Share by Company (2020-2025)
3.2 Global Heat Exchanger Annual Revenue by Company (2020-2025)
3.2.1 Global Heat Exchanger Revenue by Company (2020-2025)
3.2.2 Global Heat Exchanger Revenue Market Share by Company (2020-2025)
3.3 Global Heat Exchanger Sale Price by Company
3.4 Key Manufacturers Heat Exchanger Producing Area Distribution, Sales Area, Product Type
3.4.1 Key Manufacturers Heat Exchanger Product Location Distribution
3.4.2 Players Heat Exchanger Products Offered
3.5 Market Concentration Rate Analysis
3.5.1 Competition Landscape Analysis
3.5.2 Concentration Ratio (CR3, CR5 and CR10) & (2023-2025)
3.6 New Products and Potential Entrants
3.7 Market M&A Activity & Strategy
4 World Historic Review for Heat Exchanger by Geographic Region
4.1 World Historic Heat Exchanger Market Size by Geographic Region (2020-2025)
4.1.1 Global Heat Exchanger Annual Sales by Geographic Region (2020-2025)
4.1.2 Global Heat Exchanger Annual Revenue by Geographic Region (2020-2025)
4.2 World Historic Heat Exchanger Market Size by Country/Region (2020-2025)
4.2.1 Global Heat Exchanger Annual Sales by Country/Region (2020-2025)
4.2.2 Global Heat Exchanger Annual Revenue by Country/Region (2020-2025)
4.3 Americas Heat Exchanger Sales Growth
4.4 APAC Heat Exchanger Sales Growth
4.5 Europe Heat Exchanger Sales Growth
4.6 Middle East & Africa Heat Exchanger Sales Growth
5 Americas
5.1 Americas Heat Exchanger Sales by Country
5.1.1 Americas Heat Exchanger Sales by Country (2020-2025)
5.1.2 Americas Heat Exchanger Revenue by Country (2020-2025)
5.2 Americas Heat Exchanger Sales by Type (2020-2025)
5.3 Americas Heat Exchanger Sales by Application (2020-2025)
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil
6 APAC
6.1 APAC Heat Exchanger Sales by Region
6.1.1 APAC Heat Exchanger Sales by Region (2020-2025)
6.1.2 APAC Heat Exchanger Revenue by Region (2020-2025)
6.2 APAC Heat Exchanger Sales by Type (2020-2025)
6.3 APAC Heat Exchanger Sales by Application (2020-2025)
6.4 China
6.5 Japan
6.6 South Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
6.10 China Taiwan
7 Europe
7.1 Europe Heat Exchanger by Country
7.1.1 Europe Heat Exchanger Sales by Country (2020-2025)
7.1.2 Europe Heat Exchanger Revenue by Country (2020-2025)
7.2 Europe Heat Exchanger Sales by Type (2020-2025)
7.3 Europe Heat Exchanger Sales by Application (2020-2025)
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
8 Middle East & Africa
8.1 Middle East & Africa Heat Exchanger by Country
8.1.1 Middle East & Africa Heat Exchanger Sales by Country (2020-2025)
8.1.2 Middle East & Africa Heat Exchanger Revenue by Country (2020-2025)
8.2 Middle East & Africa Heat Exchanger Sales by Type (2020-2025)
8.3 Middle East & Africa Heat Exchanger Sales by Application (2020-2025)
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends
10 Manufacturing Cost Structure Analysis
10.1 Raw Material and Suppliers
10.2 Manufacturing Cost Structure Analysis of Heat Exchanger
10.3 Manufacturing Process Analysis of Heat Exchanger
10.4 Industry Chain Structure of Heat Exchanger
11 Marketing, Distributors and Customer
11.1 Sales Channel
11.1.1 Direct Channels
11.1.2 Indirect Channels
11.2 Heat Exchanger Distributors
11.3 Heat Exchanger Customer
12 World Forecast Review for Heat Exchanger by Geographic Region
12.1 Global Heat Exchanger Market Size Forecast by Region
12.1.1 Global Heat Exchanger Forecast by Region (2026-2031)
12.1.2 Global Heat Exchanger Annual Revenue Forecast by Region (2026-2031)
12.2 Americas Forecast by Country (2026-2031)
12.3 APAC Forecast by Region (2026-2031)
12.4 Europe Forecast by Country (2026-2031)
12.5 Middle East & Africa Forecast by Country (2026-2031)
12.6 Global Heat Exchanger Forecast by Type (2026-2031)
12.7 Global Heat Exchanger Forecast by Application (2026-2031)
13 Key Players Analysis
13.1 Alfa Laval
13.1.1 Alfa Laval Company Information
13.1.2 Alfa Laval Heat Exchanger Product Portfolios and Specifications
13.1.3 Alfa Laval Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.1.4 Alfa Laval Main Business Overview
13.1.5 Alfa Laval Latest Developments
13.2 Kelvion (GEA)
13.2.1 Kelvion (GEA) Company Information
13.2.2 Kelvion (GEA) Heat Exchanger Product Portfolios and Specifications
13.2.3 Kelvion (GEA) Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.2.4 Kelvion (GEA) Main Business Overview
13.2.5 Kelvion (GEA) Latest Developments
13.3 SPX
13.3.1 SPX Company Information
13.3.2 SPX Heat Exchanger Product Portfolios and Specifications
13.3.3 SPX Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.3.4 SPX Main Business Overview
13.3.5 SPX Latest Developments
13.4 IHI
13.4.1 IHI Company Information
13.4.2 IHI Heat Exchanger Product Portfolios and Specifications
13.4.3 IHI Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.4.4 IHI Main Business Overview
13.4.5 IHI Latest Developments
13.5 Danfoss (Sondex)
13.5.1 Danfoss (Sondex) Company Information
13.5.2 Danfoss (Sondex) Heat Exchanger Product Portfolios and Specifications
13.5.3 Danfoss (Sondex) Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.5.4 Danfoss (Sondex) Main Business Overview
13.5.5 Danfoss (Sondex) Latest Developments
13.6 SPX-Flow
13.6.1 SPX-Flow Company Information
13.6.2 SPX-Flow Heat Exchanger Product Portfolios and Specifications
13.6.3 SPX-Flow Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.6.4 SPX-Flow Main Business Overview
13.6.5 SPX-Flow Latest Developments
13.7 DOOSAN
13.7.1 DOOSAN Company Information
13.7.2 DOOSAN Heat Exchanger Product Portfolios and Specifications
13.7.3 DOOSAN Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.7.4 DOOSAN Main Business Overview
13.7.5 DOOSAN Latest Developments
13.8 API
13.8.1 API Company Information
13.8.2 API Heat Exchanger Product Portfolios and Specifications
13.8.3 API Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.8.4 API Main Business Overview
13.8.5 API Latest Developments
13.9 KNM
13.9.1 KNM Company Information
13.9.2 KNM Heat Exchanger Product Portfolios and Specifications
13.9.3 KNM Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.9.4 KNM Main Business Overview
13.9.5 KNM Latest Developments
13.10 Funke
13.10.1 Funke Company Information
13.10.2 Funke Heat Exchanger Product Portfolios and Specifications
13.10.3 Funke Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.10.4 Funke Main Business Overview
13.10.5 Funke Latest Developments
13.11 Xylem
13.11.1 Xylem Company Information
13.11.2 Xylem Heat Exchanger Product Portfolios and Specifications
13.11.3 Xylem Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.11.4 Xylem Main Business Overview
13.11.5 Xylem Latest Developments
13.12 Thermowave
13.12.1 Thermowave Company Information
13.12.2 Thermowave Heat Exchanger Product Portfolios and Specifications
13.12.3 Thermowave Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.12.4 Thermowave Main Business Overview
13.12.5 Thermowave Latest Developments
13.13 Hisaka
13.13.1 Hisaka Company Information
13.13.2 Hisaka Heat Exchanger Product Portfolios and Specifications
13.13.3 Hisaka Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.13.4 Hisaka Main Business Overview
13.13.5 Hisaka Latest Developments
13.14 SWEP
13.14.1 SWEP Company Information
13.14.2 SWEP Heat Exchanger Product Portfolios and Specifications
13.14.3 SWEP Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.14.4 SWEP Main Business Overview
13.14.5 SWEP Latest Developments
13.15 LARSEN & TOUBRO
13.15.1 LARSEN & TOUBRO Company Information
13.15.2 LARSEN & TOUBRO Heat Exchanger Product Portfolios and Specifications
13.15.3 LARSEN & TOUBRO Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.15.4 LARSEN & TOUBRO Main Business Overview
13.15.5 LARSEN & TOUBRO Latest Developments
13.16 Accessen
13.16.1 Accessen Company Information
13.16.2 Accessen Heat Exchanger Product Portfolios and Specifications
13.16.3 Accessen Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.16.4 Accessen Main Business Overview
13.16.5 Accessen Latest Developments
13.17 THT
13.17.1 THT Company Information
13.17.2 THT Heat Exchanger Product Portfolios and Specifications
13.17.3 THT Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.17.4 THT Main Business Overview
13.17.5 THT Latest Developments
13.18 Hitachi Zosen
13.18.1 Hitachi Zosen Company Information
13.18.2 Hitachi Zosen Heat Exchanger Product Portfolios and Specifications
13.18.3 Hitachi Zosen Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.18.4 Hitachi Zosen Main Business Overview
13.18.5 Hitachi Zosen Latest Developments
13.19 LANPEC
13.19.1 LANPEC Company Information
13.19.2 LANPEC Heat Exchanger Product Portfolios and Specifications
13.19.3 LANPEC Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.19.4 LANPEC Main Business Overview
13.19.5 LANPEC Latest Developments
13.20 Siping ViEX
13.20.1 Siping ViEX Company Information
13.20.2 Siping ViEX Heat Exchanger Product Portfolios and Specifications
13.20.3 Siping ViEX Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.20.4 Siping ViEX Main Business Overview
13.20.5 Siping ViEX Latest Developments
13.21 Beichen
13.21.1 Beichen Company Information
13.21.2 Beichen Heat Exchanger Product Portfolios and Specifications
13.21.3 Beichen Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.21.4 Beichen Main Business Overview
13.21.5 Beichen Latest Developments
13.22 Lanzhou LS
13.22.1 Lanzhou LS Company Information
13.22.2 Lanzhou LS Heat Exchanger Product Portfolios and Specifications
13.22.3 Lanzhou LS Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.22.4 Lanzhou LS Main Business Overview
13.22.5 Lanzhou LS Latest Developments
13.23 Defon
13.23.1 Defon Company Information
13.23.2 Defon Heat Exchanger Product Portfolios and Specifications
13.23.3 Defon Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.23.4 Defon Main Business Overview
13.23.5 Defon Latest Developments
13.24 Ormandy
13.24.1 Ormandy Company Information
13.24.2 Ormandy Heat Exchanger Product Portfolios and Specifications
13.24.3 Ormandy Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.24.4 Ormandy Main Business Overview
13.24.5 Ormandy Latest Developments
13.25 FL-HTEP
13.25.1 FL-HTEP Company Information
13.25.2 FL-HTEP Heat Exchanger Product Portfolios and Specifications
13.25.3 FL-HTEP Heat Exchanger Sales, Revenue, Price and Gross Margin (2020-2025)
13.25.4 FL-HTEP Main Business Overview
13.25.5 FL-HTEP Latest Developments
14 Research Findings and Conclusion
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*If Applicable.