Market Overview:
The global heat transfer equipment market is expected to grow from USD XX million in 2018 to USD XX million by 2030, at a CAGR of X.X%. The growth of the market can be attributed to the increasing demand for heat transfer equipment in various applications such as petrochemical, electric power & metallurgy, shipbuilding industry, mechanical industry, central heating, food industry and other applications. However, the high installation and maintenance cost may restrain the growth of this market during the forecast period. On the basis of type, shell & tube accounted for a major share of the global heat transfer equipment market in 2017. This type is widely used across various industries owing to its ability to handle large amounts of fluid flow with low pressure drop. On account of its growing popularity among end-users and increasing demand from developing countries such as China and India; this segment is projected to grow at a significant rate during 2018-2030. Based on application, petrochemical was one of key segments that accounted for highest revenue share in 2017 followed by electric power & metallurgy segment due rising investments being made towards upgradation projects undertaken by these industries globally .
Product Definition:
Heat transfer equipment refers to the devices and systems used to move thermal energy from one place to another. Heat transfer is an important process in many industrial and commercial applications, including manufacturing, food processing, and HVAC systems. Heat transfer equipment can include piping systems, fans and blowers, heat exchangers, and radiation shields.
Shell & Tube:
Shell and tube heat exchangers are used for thermal insulation in various industrial processes. They are widely used in petrochemical, power generation, food processing industries. Shell and tube heat exchangers offer low space requirement, easy installation & maintenance along with high thermal efficiency which is expected to drive the market growth over the forecast period.
Plate:
Plate is a horizontal flat surface that is used in heat transfer equipment. It can be made of various materials such as copper, aluminum, and steel. The material of the plate depends on the type of heat exchanger it will be installed in. There are different types of plates available depending upon their applications such as cooling & heating medium temperature difference, fluid flow rate difference and pressure differences among others.
Application Insights:
Petrochemical industry was the largest application segment in 2017 and is expected to continue its dominance over the forecast period. The growth of this industry can be attributed to increasing demand for chemical products from various end-use industries, including plastics, paints & coatings, adhesives & sealants. Increasing need for refining crude oil into valuable chemicals has resulted in an increased number of units being installed at refineries across the globe.
Electric power and metallurgy are other applications that are projected to grow steadily over the forecast period owing to rising demand for heat transfer equipment from electric power generation plants and steel manufacturing facilities. The equipment is used extensively within foundry operations as it transfers heat generated during iron/steel melting process directly into molten metal without dissipating it as waste heat through radiator systems or otherwise using up additional electricity required for heating purposes.
Regional Analysis:
The Asia Pacific region is expected to witness the highest growth rate of 7.8% from 2018 to 2030 owing to increasing demand for heat transfer equipment in various applications, such as petrochemical, electric power & metallurgy, mechanical industry and others. The rising population coupled with rapid urbanization has led to an increase in the consumption of energy which is required for space heating and water heating purposes.
In addition, growing industrialization along with a rise in disposable income will drive market growth over this period. Furthermore Heat Exchangers International (HEC) reported that China emerged as a major consumer of HVAC systems accounting for 30%+ share of global revenue followed by North America and Europe respectively in 2017 In terms of revenue China was at par with U.S., however when it comes to spending power U.
Growth Factors:
- Increasing demand for thermal energy in various industrial and commercial applications is expected to drive the growth of the heat transfer equipment market over the forecast period.
- Growing investments in power generation sector, especially in developing countries is anticipated to boost the demand for heat transfer equipment over the next few years.
- Rising concerns pertaining to global warming and climate change are projected to propel the adoption of efficient and environment-friendly heat transfer equipment solutions across various industries worldwide.
- Technological advancements coupled with increasing R&D spending by key players is likely to result in innovative products that would cater to specific needs of different end-use industries, thereby propelling market growth during forecast period .
Scope Of The Report
Report Attributes
Report Details
Report Title
Heat Transfer Equipment Market Research Report
By Type
Shell & Tube, Plate, Fin type, Air Cooled
By Application
Petrochemical, Electric power & metallurgy, Shipbuilding Industry, Mechanical Industry, Central Heating, Food Industry, Other Applications
By Companies
Alfa Laval, Kelvion (GEA), SPX Corporation, IHI, SPX-Flow, DOOSAN, API, KNM, Funke, Xylem, Thermowave, Hisaka, Sondex A/S, SWEP, LARSEN & TOUBRO, Accessen, THT, Hitachi Zosen, LANPEC, Siping ViEX, Beichen, Lanzhou LS, Defon, Ormandy, FL-HTEP
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
235
Number of Tables & Figures
165
Customization Available
Yes, the report can be customized as per your need.
Global Heat Transfer Equipment Market Report Segments:
The global Heat Transfer Equipment market is segmented on the basis of:
Types
Shell & Tube, Plate, Fin type, Air Cooled
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Petrochemical, Electric power & metallurgy, Shipbuilding Industry, Mechanical Industry, Central Heating, Food Industry, Other Applications
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Alfa Laval
- Kelvion (GEA)
- SPX Corporation
- IHI
- SPX-Flow
- DOOSAN
- API
- KNM
- Funke
- Xylem
- Thermowave
- Hisaka
- Sondex A/S
- SWEP
- LARSEN & TOUBRO
- Accessen
- THT
- Hitachi Zosen
- LANPEC
- Siping ViEX
- Beichen
- Lanzhou LS
- Defon
- Ormandy
- FL-HTEP
Highlights of The Heat Transfer Equipment Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Shell & Tube
- Plate
- Fin type
- Air Cooled
- By Application:
- Petrochemical
- Electric power & metallurgy
- Shipbuilding Industry
- Mechanical Industry
- Central Heating
- Food Industry
- Other Applications
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Heat Transfer Equipment Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Heat transfer equipment is a system that transfers heat from one object to another. It can be used in many different applications, such as manufacturing, engineering, and science.
Some of the key players operating in the heat transfer equipment market are Alfa Laval, Kelvion (GEA), SPX Corporation, IHI, SPX-Flow, DOOSAN, API, KNM, Funke, Xylem, Thermowave, Hisaka, Sondex A/S, SWEP, LARSEN & TOUBRO, Accessen, THT, Hitachi Zosen, LANPEC, Siping ViEX, Beichen, Lanzhou LS, Defon, Ormandy, FL-HTEP.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Heat Transfer Equipment Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Heat Transfer Equipment Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Heat Transfer Equipment Market - Supply Chain
4.5. Global Heat Transfer Equipment Market Forecast
4.5.1. Heat Transfer Equipment Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Heat Transfer Equipment Market Size (000 Units) and Y-o-Y Growth
4.5.3. Heat Transfer Equipment Market Absolute $ Opportunity
5. Global Heat Transfer Equipment Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Heat Transfer Equipment Market Size and Volume Forecast by Type
5.3.1. Shell & Tube
5.3.2. Plate
5.3.3. Fin type
5.3.4. Air Cooled
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Heat Transfer Equipment Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Heat Transfer Equipment Market Size and Volume Forecast by Application
6.3.1. Petrochemical
6.3.2. Electric power & metallurgy
6.3.3. Shipbuilding Industry
6.3.4. Mechanical Industry
6.3.5. Central Heating
6.3.6. Food Industry
6.3.7. Other Applications
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Heat Transfer Equipment Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Heat Transfer Equipment Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Heat Transfer Equipment Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Heat Transfer Equipment Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Heat Transfer Equipment Demand Share Forecast, 2019-2026
9. North America Heat Transfer Equipment Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Heat Transfer Equipment Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Heat Transfer Equipment Market Size and Volume Forecast by Application
9.4.1. Petrochemical
9.4.2. Electric power & metallurgy
9.4.3. Shipbuilding Industry
9.4.4. Mechanical Industry
9.4.5. Central Heating
9.4.6. Food Industry
9.4.7. Other Applications
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Heat Transfer Equipment Market Size and Volume Forecast by Type
9.7.1. Shell & Tube
9.7.2. Plate
9.7.3. Fin type
9.7.4. Air Cooled
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Heat Transfer Equipment Demand Share Forecast, 2019-2026
10. Latin America Heat Transfer Equipment Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Heat Transfer Equipment Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Heat Transfer Equipment Market Size and Volume Forecast by Application
10.4.1. Petrochemical
10.4.2. Electric power & metallurgy
10.4.3. Shipbuilding Industry
10.4.4. Mechanical Industry
10.4.5. Central Heating
10.4.6. Food Industry
10.4.7. Other Applications
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Heat Transfer Equipment Market Size and Volume Forecast by Type
10.7.1. Shell & Tube
10.7.2. Plate
10.7.3. Fin type
10.7.4. Air Cooled
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Heat Transfer Equipment Demand Share Forecast, 2019-2026
11. Europe Heat Transfer Equipment Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Heat Transfer Equipment Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Heat Transfer Equipment Market Size and Volume Forecast by Application
11.4.1. Petrochemical
11.4.2. Electric power & metallurgy
11.4.3. Shipbuilding Industry
11.4.4. Mechanical Industry
11.4.5. Central Heating
11.4.6. Food Industry
11.4.7. Other Applications
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Heat Transfer Equipment arket Size and Volume Forecast by Type
11.7.1. Shell & Tube
11.7.2. Plate
11.7.3. Fin type
11.7.4. Air Cooled
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Heat Transfer Equipment Demand Share, 2019-2026
12. Asia Pacific Heat Transfer Equipment Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Heat Transfer Equipment Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Heat Transfer Equipment Market Size and Volume Forecast by Application
12.4.1. Petrochemical
12.4.2. Electric power & metallurgy
12.4.3. Shipbuilding Industry
12.4.4. Mechanical Industry
12.4.5. Central Heating
12.4.6. Food Industry
12.4.7. Other Applications
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Heat Transfer Equipment Market Size and Volume Forecast by Type
12.7.1. Shell & Tube
12.7.2. Plate
12.7.3. Fin type
12.7.4. Air Cooled
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Heat Transfer Equipment Demand Share, 2019-2026
13. Middle East & Africa Heat Transfer Equipment Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Heat Transfer Equipment Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Heat Transfer Equipment Market Size and Volume Forecast by Application
13.4.1. Petrochemical
13.4.2. Electric power & metallurgy
13.4.3. Shipbuilding Industry
13.4.4. Mechanical Industry
13.4.5. Central Heating
13.4.6. Food Industry
13.4.7. Other Applications
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Heat Transfer Equipment Market Size and Volume Forecast by Type
13.7.1. Shell & Tube
13.7.2. Plate
13.7.3. Fin type
13.7.4. Air Cooled
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Heat Transfer Equipment Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Heat Transfer Equipment Market: Market Share Analysis
14.2. Heat Transfer Equipment Distributors and Customers
14.3. Heat Transfer Equipment Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Alfa Laval
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Kelvion (GEA)
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. SPX Corporation
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. IHI
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. SPX-Flow
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. DOOSAN
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. API
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. KNM
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Funke
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Xylem
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Thermowave
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Hisaka
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Sondex A/S
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. SWEP
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. LARSEN & TOUBRO
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Accessen
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. THT
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Hitachi Zosen
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. LANPEC
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Siping ViEX
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
