熱交換器市場 – 2030年までの世界予測

Heat Exchanger Market - Global Forecast To 2030

熱交換器市場 - タイプ(シェル&チューブ、プレート&フレーム、空冷式)、材質(金属、合金、ろう付けクラッド材)、最終用途産業(化学、エネルギー、HVACR、食品・飲料、電力、パルプ・製紙)、地域別 - 2030年までの世界予測
Heat Exchanger Market by Type (Shell & Tube, Plate & Frame, Air Cooled), Material (Metals, Alloys, Brazing Clad Materials), End-use Industry (Chemical, Energy, HVACR, Food & Beverage, Power, Pulp & Paper), and Region - Global Forecast to 2030

商品番号 : SMB-9877

出版社MarketsandMarkets
出版年月2025年9月
ページ数313
図表数402
価格タイプシングルユーザライセンス
価格USD 4,950
種別英文調査報告書

本市場調査は、様々なセグメントにわたる熱交換器市場を網羅しています。市場規模と成長の可能性を、タイプ、材質、最終用途産業、地域に基づいて、様々なセグメントにわたって推定することを目的としています。また、本調査には、市場の主要プレーヤーの詳細な競合分析、企業概要、製品および事業内容に関する主要な考察、最近の開発状況、そして熱交換器市場における地位向上のために採用されている主要な成長戦略も含まれています。

本レポートは、市場リーダー企業や新規参入企業が、熱交換器市場全体、およびそのセグメントとサブセグメントの収益数値について、より正確な概算値を共有するのに役立つことが期待されています。本レポートは、ステークホルダーが市場の競争環境を理解し、自社の地位を向上させるための洞察を得て、適切な市場開拓戦略を策定するのに役立つと期待されています。また、ステークホルダーが市場の動向を理解し、主要な市場牽引要因、制約要因、課題、そして機会に関する情報を提供することも目的としています。

熱交換器市場は、2025年の239億5,000万米ドルから2030年には335億2,000万米ドルに達し、予測期間中に7.0%のCAGRで成長すると予測されています。熱交換器市場は、急速な工業化、世界的なエネルギー需要の増加、そして発電、石油・ガス、化学、空調、食品加工、製薬などの業界全体にわたるエネルギー効率の高いシステムに対するニーズの高まりによって主に推進されています。環境規制の厳格化と廃熱回収への注目の高まりは、産業界が熱管理の改善を通じて排出量と運用コストの削減を模索する中で、採用をさらに加速させています。さらに、アジア太平洋、ラテンアメリカ、中東の新興経済国は、インフラ、製造、エネルギープロジェクトに多額の投資を行っており、新規設置と交換ユニットの両方に対する大きな需要を生み出しています。しかし、市場の成長は、特に高度で特殊な熱交換器に対する初期投資コストの高さや、汚れや腐食が激しい環境でのメンテナンスの課題などの制約に直面しています。

The heat exchanger market is projected to reach USD 33.52 billion by 2030 from USD 23.95 billion in 2025, at a CAGR of 7.0% during the forecast period. The heat exchanger market is primarily driven by rapid industrialization, rising global energy demand, and the increasing need for energy-efficient systems across industries such as power generation, oil and gas, chemicals, HVAC, food processing, and pharmaceuticals. Stricter environmental regulations and a growing focus on waste heat recovery further accelerate adoption, as industries seek to reduce emissions and operational costs through improved thermal management. Additionally, emerging economies in the Asia Pacific, Latin America, and the Middle East are investing heavily in infrastructure, manufacturing, and energy projects, creating significant demand for both new installations and replacement units. However, market growth faces restraints such as high initial investment costs, especially for advanced and specialized heat exchangers, along with maintenance challenges in high-fouling or corrosive environments.

熱交換器市場 - 2030年までの世界予測
heat-exchanger-market-Overview

“Air cooled heat exchanger type is projected to be the second fastest-growing segment in the heat exchanger market during the forecast period”

Air cooled heat exchangers (ACHEs) are thermal systems that use ambient air, rather than water, as the cooling medium to dissipate heat from process fluids. They consist of finned tubes or coils through which hot process fluid flows, with fans blowing atmospheric air over the surface to facilitate heat transfer. Unlike shell-and-tube or plate heat exchangers, ACHEs do not require large quantities of cooling water, making them particularly suitable for regions facing water scarcity or where water treatment costs are high. They are widely used in oil and gas, petrochemicals, power generation, chemical processing, and other industries where reliable, continuous cooling is required in outdoor environments. Their modular and flexible design allows easy scalability for different capacity requirements, while the absence of cooling water systems reduces maintenance and operational complexity. The growing adoption of air-cooled heat exchangers is fueled by rising environmental concerns, tightening water usage regulations, and the increasing operational costs of water-based cooling systems. With industries seeking sustainable cooling solutions that reduce water dependency, ACHEs are gaining prominence, especially in arid regions and offshore installations. They are also favored in remote or hazardous locations where water supply is limited or where maintenance access to cooling towers is impractical.

“The chemical segment is projected to be the largest segment in the heat exchanger market during the forecast period”

The chemical industry is one of the most critical end-use sectors for heat exchangers, as these systems are essential for precise temperature regulation, efficient heat recovery, and safe handling of corrosive or high-viscosity fluids across processes such as heating, cooling, condensation, and evaporation. In the Asia Pacific, demand is fueled by China’s massive petrochemical and specialty chemical output, India’s rapidly expanding USD 220+ billion chemical sector, and Japan’s advanced specialty manufacturing requiring high-quality, corrosion-resistant designs. North America benefits from low-cost shale gas feedstock, driving capacity expansions and retrofits in the US, while Europe’s stringent energy-efficiency and environmental regulations—especially in Germany, France, and the Netherlands—spur adoption of advanced, sustainable heat transfer systems. The Middle East & Africa, led by Saudi Arabia, the UAE, and Qatar, sees heavy demand from petrochemical megaprojects requiring large, durable units, and Latin America, particularly Brazil, is experiencing steady growth in chemical manufacturing linked to polymer, agrochemical, and refining projects. Across these regions, rising energy costs, the push for carbon reduction, and the need for reliable, high-performance equipment are reinforcing the chemical industry’s role as a key growth driver for the global heat exchanger market.

熱交換器市場 - 2030年までの世界予測 - 地域
heat-exchanger-market-Region

“The Europe market is projected to largest for heat exchangers during the forecast period”

Europe holds the largest share of the global heat exchanger market, driven by its mature industrial base, stringent energy-efficiency regulations, and strong focus on sustainable technologies. The region’s well-established industries—including chemicals, power generation, oil and gas, HVAC, food and beverage, and pharmaceuticals—create consistent demand for high-performance heat transfer systems. EU directives on energy efficiency, emission reduction, and waste heat recovery have accelerated the adoption of advanced designs, such as plate-and-frame and compact heat exchangers, to optimize thermal performance while reducing operational costs. Countries like Germany, France, and Italy lead in manufacturing and industrial innovation, with Germany being a hub for chemical processing and engineering expertise, France excelling in nuclear power generation, and Italy driving demand from its robust food processing sector. The UK’s growing renewable energy initiatives, coupled with modernization in its heating and cooling infrastructure, further support market growth. Additionally, Europe’s push toward decarbonization—supported by the European Green Deal—has spurred investments in district heating and cooling networks, as well as waste heat recovery in manufacturing plants.

Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments and the information gathered through secondary research.

The break-up of interviews with experts is given below:

  • By Department: Tier 1: 40%, Tier 2: 25%, and Tier 3: 35%
  • By Designation: C Level: 35%, Director Level: 30%, and Executives: 35%
  • By Region: North America: 25%, Europe: 35%, Asia Pacific: 30%, South America: 5%, Middle East & Africa 5%

Alfa Laval (Sweden), Kelvion Holding GmbH (Germany), Danfoss (Denmark), Exchanger Industries Limited (Canada), Mersen (France), API Heat Transfer  (US), BOYD (US), Johnson Controls (Ireland), Xylem (US), Wabtec Corporation (US)  ,SPX Flow (US),  Lennox International Inc. (US), Modine Manufacturing Company (US), Wieland (Germany), and Air Products  & Chemicals, Inc. (US), among others are some of the key players in the heat exchanger market.

熱交換器市場 - 2030年までの世界予測 - 対象となる企業
heat-exchanger-market-Ecosystem

The study includes an in-depth competitive analysis of these key players in the heat exchanger market, with their company profiles, recent developments, and key market strategies.

Research Coverage

The market study covers the heat exchanger market across various segments. It aims to estimate the market size and the growth potential of this market across different segments based on type, material,  end-use industry, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their positions in the heat exchanger market.

Key Benefits of Buying the Report

The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall heat exchanger market and its segments and subsegments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the positions of their businesses, and plan suitable go-to-market strategies. The report also aims to help stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.

The report provides insights into the following points:

  • Analysis of key drivers (Increasing industrialization in emerging economies, rising energy efficiency regulations and stringent emission standards, Growing demand for HVAC & refrigeration equipment), restraints (Fluctuation in raw material prices, Lack awareness in energy efficiency), opportunities (Growth number of nuclear power plants), challenges (Regulations concerning fluorinated greenhouse gases, Capital intensive market)
  • Market Development: Comprehensive information about lucrative markets – the report analyzes the heat exchanger market across varied regions
  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the heat exchanger market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, product and service offerings of leading players like Alfa Laval (Sweden), Kelvion Holding GmbH (Germany), Danfoss (Denmark), Exchanger Industries Limited (Canada), Mersen (France), API Heat Transfer (US), BOYD (US), Johnson Controls (Ireland), Xylem (US), Wabtec Corporation (US), SPX Flow (US),  Lennox International Inc. (US), Modine Manufacturing Company (US), Wieland (Germany), and Air Products  & Chemicals, Inc. (US), among others are the top manufacturers covered in the heat exchanger market.。

Table of Contents

1               INTRODUCTION              29

1.1           STUDY OBJECTIVES       29

1.2           MARKET DEFINITION   29

1.3           STUDY SCOPE   30

1.3.1        MARKETS COVERED AND REGIONAL SPREAD    30

1.3.2        INCLUSIONS AND EXCLUSIONS 30

1.3.3        YEARS CONSIDERED      31

1.3.4        CURRENCY CONSIDERED            31

1.3.5        UNITS CONSIDERED      31

1.4           STAKEHOLDERS               31

1.5           SUMMARY OF CHANGES               32

2               RESEARCH METHODOLOGY       33

2.1           RESEARCH DATA              33

2.1.1        SECONDARY DATA          34

2.1.1.1    Key data from secondary sources       34

2.1.2        PRIMARY DATA 35

2.1.2.1    Key data from primary sources           35

2.1.2.2    List of primary interview participants – demand and supply sides                 35

2.1.2.3    Key industry insights           36

2.1.2.4    Breakdown of interviews with experts               36

2.2           MARKET SIZE ESTIMATION         36

2.2.1        BOTTOM-UP APPROACH              37

2.2.2        TOP-DOWN APPROACH                37

2.3           DATA TRIANGULATION                38

2.4           RESEARCH ASSUMPTIONS           39

2.5           RISK ASSESSMENT           39

3               EXECUTIVE SUMMARY  40

4               PREMIUM INSIGHTS       43

4.1           ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HEAT EXCHANGER MARKET   43

4.2           HEAT EXCHANGER MARKET, BY TYPE   43

4.3           HEAT EXCHANGER MARKET, BY END-USE INDUSTRY                 44

4.4           HEAT EXCHANGER MARKET, BY COUNTRY         44

5               MARKET OVERVIEW       45

5.1           INTRODUCTION              45

5.2           MARKET DYNAMICS       45

5.2.1        DRIVERS               46

5.2.1.1    Increasing industrialization in emerging economies       46

5.2.1.2    Rising energy efficiency regulations and stringent emission standards                46

5.2.1.3    Growing demand for HVAC & refrigeration equipment                 47

5.2.1.4    Growing demand for heat pumps      47

5.2.1.5    Rising demand for sustainable, low energy consumption, and

cost-effective heat exchangers            48

5.2.2        RESTRAINTS      48

5.2.2.1    Fluctuation in raw material prices     48

5.2.2.2    Lack of awareness of energy efficiency              49

5.2.2.3    Growing demand for battery electric vehicles 49

5.2.3        OPPORTUNITIES              50

5.2.3.1    Growing number of nuclear power plants        50

5.2.3.2    Growing aftermarket of heat exchangers          50

5.2.4        CHALLENGES    50

5.2.4.1    Regulations concerning fluorinated greenhouse gases   50

5.2.4.2    Capital-intensive market     51

5.3           PORTER’S FIVE FORCES ANALYSIS           52

5.3.1        THREAT OF SUBSTITUTES          53

5.3.2        BARGAINING POWER OF SUPPLIERS       53

5.3.3        THREAT OF NEW ENTRANTS      53

5.3.4        BARGAINING POWER OF BUYERS             53

5.3.5        INTENSITY OF COMPETITIVE RIVALRY 54

5.4           KEY STAKEHOLDERS AND BUYING CRITERIA     54

5.4.1        KEY STAKEHOLDERS IN BUYING PROCESS           54

5.4.2        BUYING CRITERIA           55

5.5           MACROECONOMIC INDICATORS              55

5.5.1        GLOBAL GDP TRENDS  55

5.5.2        OIL & GAS STATISTICS  58

5.5.3        POWER GENERATION STATISTICS           59

6               INDUSTRY TRENDS         60

6.1           INTRODUCTION              60

6.2           VALUE CHAIN ANALYSIS               60

6.3           REGULATORY LANDSCAPE         62

6.3.1        REGULATIONS  62

6.3.1.1    North America      62

6.3.1.2    Europe   63

6.3.1.3    Asia Pacific            63

6.3.2        STANDARDS      64

6.3.2.1    ISO 27.060.30       64

6.3.2.2    BS EN 308:2022   64

6.3.2.3    ASME Boiler and Pressure Vessel Code (BPVC)           64

6.3.2.4    Tubular Exchanger Manufacturers Association (TEMA) Standards               64

6.3.2.5    API (American Petroleum Institute) Standards              64

6.3.2.6    PD500 Standards 64

6.3.2.7    EN 13445 Standards            65

6.3.3        REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             65

6.4           TRADE ANALYSIS             66

6.4.1        IMPORT SCENARIO (HS CODE 841950)    66

6.4.2        EXPORT SCENARIO (HS CODE 841950)    67

6.5           PRICING ANALYSIS          67

6.5.1        AVERAGE SELLING PRICE TREND, BY REGION, 2022–2030                 67

6.5.2        AVERAGE SELLING PRICE TREND, BY TYPE, 2024–2030                 68

6.5.3        AVERAGE SELLING PRICE TREND OF KEY PLAYERS,

BY END-USE INDUSTRY, 2024      68

6.6           INVESTMENT AND FUNDING SCENARIO               69

6.7           ECOSYSTEM       69

6.8           TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS            70

6.9           TECHNOLOGY ANALYSIS             70

6.9.1        KEY TECHNOLOGIES     71

6.9.1.1    Multi-functional heat exchangers      71

6.9.1.2    Nanotechnology-enhanced heat exchangers    71

6.9.2        COMPLEMENTARY TECHNOLOGIES       71

6.9.2.1    3D-printed heat exchangers                71

6.9.2.2    Compact and microgroove heat exchangers     71

6.10         CASE STUDY ANALYSIS 71

6.10.1      API HEAT TRANSFER      71

6.10.2      BOYD    72

6.10.3      API HEAT TRANSFER      72

6.11         KEY CONFERENCES AND EVENTS, 2025–2026        73

6.12         PATENT ANALYSIS          75

6.12.1      METHODOLOGY              75

6.12.2      PATENT TYPES 75

6.12.3      PUBLICATION TRENDS 76

6.12.4      INSIGHTS            76

6.12.5      JURISDICTION ANALYSIS              77

6.12.6      TOP APPLICANTS            77

7               HEAT EXCHANGER MARKET, BY TYPE   79

7.1           INTRODUCTION              80

7.2           SHELL & TUBE HEAT EXCHANGERS         82

7.2.1        INCREASING DEMAND FROM VARIOUS END-USE INDUSTRIES

TO DRIVE MARKET         82

7.2.2        TUBULAR HEAT EXCHANGERS  83

7.2.3        FIXED TUBE HEAT EXCHANGERS              83

7.2.4        U-TUBE HEAT EXCHANGERS      83

7.2.5        FLOATING HEAD HEAT EXCHANGERS   83

7.3           PLATE & FRAME HEAT EXCHANGERS     84

7.3.1        COST-EFFECTIVENESS AND DURABILITY TO DRIVE MARKET               84

7.3.2        GASKETED PLATE & FRAME HEAT EXCHANGERS                 84

7.3.3        WELDED PLATE & FRAME HEAT EXCHANGERS  84

7.3.4        BRAZED HEAT EXCHANGERS     85

7.4           AIR COOLED HEAT EXCHANGERS            85

7.4.1        INCREASING USE IN CHEMICAL AND ENERGY INDUSTRIES TO DRIVE MARKET               85

7.4.2        FORCED DRAFT HEAT EXCHANGERS      85

7.4.3        INDUCED DRAFT HEAT EXCHANGERS   86

7.5           OTHER TYPES   86

7.5.1        EXTENDED SURFACE HEAT EXCHANGERS           86

7.5.2        REGENERATIVE HEAT EXCHANGERS      86

8               HEAT EXCHANGER MARKET, BY MATERIAL         87

8.1           INTRODUCTION              88

8.1.1        METALS                90

8.1.1.1    High thermal conductivity and durability to drive market                 90

8.1.1.2    Steel        91

8.1.1.2.1 Carbon steel          91

8.1.1.2.2 Stainless steel        91

8.1.1.3    Copper   91

8.1.1.4    Aluminum              91

8.1.1.5    Titanium                92

8.1.1.6    Nickel     92

8.1.1.7    Other metals         92

8.1.2        ALLOYS                 92

8.1.2.1    Extreme environmentally friendly nature to drive market                 92

8.1.2.2    Nickel alloys          92

8.1.2.2.1 Hastelloy alloys     92

8.1.2.2.2 Inconel alloys        93

8.1.2.2.3 Monel alloys          93

8.1.2.2.4 Other nickel alloys                93

8.1.2.3    Copper alloys        93

8.1.2.4    Titanium alloys     93

8.1.2.5    Other alloys           93

8.1.3        BRAZING CLAD MATERIALS        94

8.1.3.1    Enhanced corrosion resistance and thermal conductivity

to drive market      94

8.1.3.2    Copper brazing     94

8.1.3.3    Ni clad brazing      94

8.1.3.4    Phosphor copper brazing    94

8.1.3.5    Silver brazing        94

8.1.3.6    Other brazing clad materials               94

9               HEAT EXCHANGER MARKET, BY END-USE INDUSTRY                 95

9.1           INTRODUCTION              96

9.2           CHEMICALS        98

9.2.1        GROWING CHEMICAL INDUSTRY TO DRIVE MARKET                 98

9.2.2        BASE CHEMICALS             98

9.2.3        INTERMEDIATE CHEMICALS      98

9.2.4        SPECIALTY CHEMICALS                98

9.3           ENERGY                99

9.3.1        INCREASING USE FOR HEAT RECOVERY TO DRIVE MARKET               99

9.3.2        PETROCHEMICALS          99

9.3.3        OIL & GAS            99

9.4           HVAC & REFRIGERATION             100

9.4.1        POPULATION GROWTH, URBANIZATION, AND RISING INCOME

TO DRIVE MARKET         100

9.4.2        DISTRICT HEATING & COOLING               100

9.4.3        COMMERCIAL REFRIGERATION                100

9.4.4        AIR CONDITIONING       100

9.4.5        INDUSTRIAL REFRIGERATION   101

9.5           FOOD & BEVERAGES      101

9.5.1        NEED FOR ENERGY EFFICIENCY AND STRINGENT ENVIRONMENTAL REGULATIONS TO DRIVE MARKET   101

9.5.2        PROCESS FOOD                101

9.5.3        DAIRY   101

9.5.4        SUGAR & ETHANOL PRODUCTION          101

9.5.5        OTHER FOOD & BEVERAGES      102

9.6           POWER 102

9.6.1        ENHANCEMENT IN THERMAL MANAGEMENT TO DRIVE MARKET               102

9.6.2        RENEWABLE      102

9.6.3        NON-RENEWABLE           102

9.7           PULP & PAPER  102

9.7.1        REDUCED FUEL CONSUMPTION AND LOWER OPERATING COSTS

TO DRIVE MARKET         102

9.8           OTHER END-USE INDUSTRIES   103

9.8.1        METALLURGICAL             103

9.8.2        WASTEWATER TREATMENT       103

9.8.3        MINING                103

10            HEAT EXCHANGER MARKET, BY REGION              104

10.1         INTRODUCTION              105

10.2         NORTH AMERICA             107

10.2.1      US           113

10.2.1.1  Change in efficiency standards by DOE to drive market                 113

10.2.2      CANADA               116

10.2.2.1  Availability of vast natural resources & diversified economy to contribute to market growth               116

10.2.3      MEXICO                119

10.2.3.1  Rising population to drive demand for power generation                 119

10.3         EUROPE               122

10.3.1      GERMANY           129

10.3.1.1  Strong economy, substantial investments in end-use industries

to drive market      129

10.3.2      FRANCE                132

10.3.2.1  Carbon neutrality initiative and strong chemical industry to

influence market growth     132

10.3.3      UK          135

10.3.3.1  Strong end-use industry and favorable business environment

to boost market     135

10.3.4      ITALY    138

10.3.4.1  Need for sustainability to drive market             138

10.3.5      RUSSIA 141

10.3.5.1  Oil & gas sector to boost demand for heat exchangers   141

10.3.6      TURKEY                144

10.3.6.1  Urbanization and improving living standards to boost demand                 144

10.3.7      REST OF EUROPE             147

10.4         ASIA PACIFIC     150

10.4.1      CHINA  157

10.4.1.1  Rapid industrialization and thriving end-use industries

to grow market      157

10.4.2      JAPAN   160

10.4.2.1  Growth in end-use industries to drive market 160

10.4.3      INDIA    163

10.4.3.1  Rapid industrialization in energy and power generation

end-use industries to boost demand 163

10.4.4      SOUTH KOREA  166

10.4.4.1  Strong chemical industry and favorable government policies

to boost market     166

10.4.5      REST OF ASIA PACIFIC   169

10.5         SOUTH AMERICA             172

10.5.1      BRAZIL 177

10.5.1.1  Strong end-use industry to influence market   177

10.5.2      ARGENTINA       180

10.5.2.1  Focus on non-hydro renewable sources to boost demand                 180

10.5.3      REST OF SOUTH AMERICA           183

10.6         MIDDLE EAST & AFRICA                186

10.6.1      GCC COUNTRIES              192

10.6.1.1  Saudi Arabia          192

10.6.1.1.1                Strong oil & gas industry to drive market         192

10.6.1.2  Qatar      195

10.6.1.2.1                Oil & gas industry contribute to rise in demand for

heat exchangers    195

10.6.1.3  Other GCC Countries          198

10.6.1.3.1                Adoption of district cooling systems and rising industrialization to drive market        198

10.6.2      REST OF MIDDLE EAST & AFRICA             201

11            COMPETITIVE LANDSCAPE         205

11.1         OVERVIEW          205

11.2         KEY PLAYER STRATEGIES             206

11.3         REVENUE ANALYSIS       207

11.4         MARKET SHARE ANALYSIS           207

11.5         COMPANY VALUATION AND FINANCIAL METRICS                 209

11.6         BRAND COMPARISON   211

11.7         COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024                 211

11.7.1      STARS   211

11.7.2      EMERGING LEADERS     211

11.7.3      PERVASIVE PLAYERS      212

11.7.4      PARTICIPANTS 212

11.7.5      COMPANY FOOTPRINT: KEY PLAYERS, 2024         213

11.7.5.1  Company footprint               213

11.7.5.2  Region footprint   214

11.7.5.3  Type footprint       215

11.7.5.4  Material footprint 216

11.7.5.5  End-use industry footprint 217

11.8         COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024        219

11.8.1      PROGRESSIVE COMPANIES         219

11.8.2      RESPONSIVE COMPANIES            219

11.8.3      DYNAMIC COMPANIES  219

11.8.4      STARTING BLOCKS         219

11.8.5      COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024                 221

11.8.5.1  Detailed list of key startups/SMEs    221

11.8.5.2  Competitive benchmarking of key startups/SMEs          222

11.9         COMPETITIVE SCENARIO AND TRENDS                223

11.9.1      PRODUCT LAUNCHES   223

11.9.2      DEALS  226

11.9.3      EXPANSIONS     230

12            COMPANY PROFILES      234

12.1         KEY PLAYERS     234

12.1.1      ALFA LAVAL       234

12.1.1.1  Business overview 234

12.1.1.2  Products/Solutions/Services offered 235

12.1.1.3  Recent developments           239

12.1.1.3.1                Product launches  239

12.1.1.3.2                Deals      240

12.1.1.3.3                Expansions             242

12.1.1.4  MnM view              242

12.1.1.4.1                Right to win           242

12.1.1.4.2                Strategic choices   243

12.1.1.4.3                Weaknesses and competitive threats 243

12.1.2      KELVION HOLDING GMBH          244

12.1.2.1  Business overview 244

12.1.2.2  Products/Solutions/Services offered 244

12.1.2.3  Recent developments           245

12.1.2.3.1                Product launches  245

12.1.2.3.2                Expansions             246

12.1.2.4  MnM view              247

12.1.2.4.1                Right to win           247

12.1.2.4.2                Strategic choices   247

12.1.2.4.3                Weaknesses and competitive threats 247

12.1.3      DANFOSS             248

12.1.3.1  Business overview 248

12.1.3.2  Products/Solutions/Services offered 249

12.1.3.3  Recent developments           251

12.1.3.3.1                Product launches  251

12.1.3.3.2                Deals      252

12.1.3.3.3                Expansions             252

12.1.3.4  MnM view              253

12.1.3.4.1                Right to win           253

12.1.3.4.2                Strategic choices   253

12.1.3.4.3                Weaknesses and competitive threats 253

12.1.4      EXCHANGER INDUSTRIES LIMITED         254

12.1.4.1  Business overview 254

12.1.4.2  Products/Solutions/Services offered 254

12.1.4.3  Recent developments           256

12.1.4.3.1                Product launches  256

12.1.4.3.2                Deals      257

12.1.4.4  MnM view              257

12.1.4.4.1                Right to win           257

12.1.4.4.2                Strategic choices   257

12.1.4.4.3                Weaknesses and competitive threats 257

12.1.5      MERSEN               258

12.1.5.1  Business overview 258

12.1.5.2  Products/Solutions/Services offered 259

12.1.5.3  Recent developments           261

12.1.5.3.1                Product launches  261

12.1.5.3.2                Deals      261

12.1.5.4  MnM view              261

12.1.5.4.1                Right to win           261

12.1.5.4.2                Strategic choices   262

12.1.5.4.3                Weaknesses and competitive threats 262

12.1.6      API HEAT TRANSFER      263

12.1.6.1  Business overview 263

12.1.6.2  Products/Solutions/Services offered 263

12.1.6.3  MnM view              266

12.1.7      BOYD    267

12.1.7.1  Business overview 267

12.1.7.2  Products/Solutions/Services offered 267

12.1.7.3  Recent developments           268

12.1.7.3.1                Deals      268

12.1.7.3.2                Expansions             268

12.1.7.4  MnM view              269

12.1.8      JOHNSON CONTROLS    270

12.1.8.1  Business overview 270

12.1.8.2  Products/Solutions/Services offered 271

12.1.8.3  Recent developments           271

12.1.8.3.1                Product launches  271

12.1.8.4  MnM view              271

12.1.9      XYLEM  272

12.1.9.1  Business overview 272

12.1.9.2  Products/Solutions/Services offered 273

12.1.9.3  Recent developments           274

12.1.9.3.1                Product launches  274

12.1.9.4  MnM view              275

12.1.10   WABTEC CORPORATION              276

12.1.10.1                 Business overview 276

12.1.10.2                 Products/Solutions/Services offered 277

12.1.10.3                 Recent developments           280

12.1.10.3.1             Deals      280

12.1.10.3.2             Expansions             281

12.1.10.4                 MnM view              281

12.1.11   SPX FLOW            282

12.1.11.1                 Business overview 282

12.1.11.2                 Products/Solutions/Services offered 282

12.1.11.2.1             Expansions             284

12.1.11.3                 MnM view              284

12.1.12   LU-VE GROUP   285

12.1.12.1                 Business overview 285

12.1.12.2                 Products/Solutions/Services offered 286

12.1.12.3                 Recent developments           287

12.1.12.3.1             Deals      287

12.1.12.3.2             Expansions             287

12.1.12.4                 MnM view              288

12.1.13   LENNOX INTERNATIONAL INC. 289

12.1.13.1                 Business overview 289

12.1.13.2                 Products/Solutions/Services offered 290

12.1.13.3                 Recent developments           290

12.1.13.3.1             Expansions             290

12.1.13.4                 MnM view              290

12.1.14   MODINE MANUFACTURING COMPANY 291

12.1.14.1                 Business overview 291

12.1.14.2                 Products/Solutions/Services offered 292

12.1.14.3                 Recent developments           293

12.1.14.3.1             Deals      293

12.1.14.4                 MnM view              293

12.1.15   WIELAND            294

12.1.15.1                 Business overview 294

12.1.15.2                 Products/Solutions/Services offered 294

12.1.15.3                 Recent developments           295

12.1.15.3.1             Deals      295

12.1.15.3.2             Other developments             296

12.1.15.4                 MnM view              296

12.2         OTHER PLAYERS              297

12.2.1      AIR PRODUCTS AND CHEMICALS, INC.  297

12.2.2      BARRIQUAND HEAT EXCHANGERS          298

12.2.3      BRASK, INC.        298

12.2.4      CATARACT STEEL            299

12.2.5      CHART INDUSTRIES       299

12.2.6      DOOSAN CORPORATION              300

12.2.7      FUNKEWÄRMETAUSCHER APPARATEBAU GMBH                 300

12.2.8      HISAKA WORKS, LTD.     301

12.2.9      HINDUSTAN DORR-OLIVER LTD.              302

12.2.10   KOCH HEAT TRANSFER COMPANY          302

12.2.11   RADIANT HEAT EXCHANGER PVT. LTD.                303

12.2.12   SWEP INTERNATIONAL AB          303

12.2.13   THERMAX LIMITED        304

12.2.14   SIERRA S.P.A.     304

12.2.15   VAHTERUS OY  305

13            APPENDIX           306

13.1         DISCUSSION GUIDE        306

13.2         KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL                309

13.3         CUSTOMIZATION OPTIONS        311

13.4         RELATED REPORTS         311

13.5         AUTHOR DETAILS           312

LIST OF TABLES

TABLE 1                REGULATIONS  51

TABLE 2                HEAT EXCHANGER MARKET: PORTER’S FIVE FORCES ANALYSIS           52

TABLE 3                INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY KEY END-USE INDUSTRY  54

TABLE 4                KEY BUYING CRITERIA, BY KEY END-USE INDUSTRY           55

TABLE 5                TRENDS OF PER CAPITA GDP, BY COUNTRY, 2020–2023 (USD)                56

TABLE 6                GDP GROWTH ESTIMATE AND PROJECTION OF KEY COUNTRIES, 2024–2027          57

TABLE 7                OIL PRODUCTION, BY COUNTRY, 2023–2024 (MILLION BARRELS PER DAY)    58

TABLE 8                POWER GENERATED IN KEY COUNTRIES, 2022 –2024 (TERAWATT HOUR (TWH))                59

TABLE 9                ROLES OF STAKEHOLDERS IN HEAT EXCHANGER VALUE CHAIN        61

TABLE 10              NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  65

TABLE 11              ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  65

TABLE 12              EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  66

TABLE 13              HEAT EXCHANGER MARKET: LIST OF KEY CONFERENCES AND

EVENTS, 2025–2026           73

TABLE 14              TOP 10 PATENT OWNERS DURING LAST 10 YEARS   78

TABLE 15              HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (USD MILLION) 81

TABLE 16              HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (USD MILLION) 81

TABLE 17              HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)  82

TABLE 18              HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)  82

TABLE 19              HEAT EXCHANGER MARKET, BY MATERIAL, 2022–2024 (USD MILLION)            89

TABLE 20              HEAT EXCHANGER MARKET, BY MATERIAL, 2025–2030 (USD MILLION)            90

TABLE 21              HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (USD MILLION)    96

TABLE 22              HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (USD MILLION)    97

TABLE 23              HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (UNIT)      97

TABLE 24              HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (UNIT)      97

TABLE 25              HEAT EXCHANGER MARKET, BY REGION, 2022–2024 (USD MILLION)       105

TABLE 26              HEAT EXCHANGER MARKET, BY REGION, 2025–2030 (USD MILLION)       106

TABLE 27              HEAT EXCHANGER MARKET, BY REGION, 2022–2024 (UNIT)        106

TABLE 28              HEAT EXCHANGER MARKET, BY REGION, 2025–2030 (UNIT)        106

TABLE 29              NORTH AMERICA: HEAT EXCHANGER MARKET, BY COUNTRY,

2022–2024 (USD MILLION)            107

TABLE 30              NORTH AMERICA: HEAT EXCHANGER MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            108

TABLE 31              NORTH AMERICA: HEAT EXCHANGER MARKET, BY COUNTRY, 2022–2024 (UNIT)                 108

TABLE 32              NORTH AMERICA: HEAT EXCHANGER MARKET, BY COUNTRY, 2025–2030 (UNIT)                 108

TABLE 33              NORTH AMERICA: HEAT EXCHANGER MARKET, BY MATERIAL,

2022–2024 (USD MILLION)            109

TABLE 34              NORTH AMERICA: HEAT EXCHANGER MARKET, BY MATERIAL,

2025–2030 (USD MILLION)            110

TABLE 35              NORTH AMERICA: HEAT EXCHANGER MARKET, BY TYPE,

2022–2024 (USD MILLION)            110

TABLE 36              NORTH AMERICA: HEAT EXCHANGER MARKET, BY TYPE,

2025–2030 (USD MILLION)            111

TABLE 37              NORTH AMERICA: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)          111

TABLE 38              NORTH AMERICA: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)          111

TABLE 39              NORTH AMERICA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            112

TABLE 40              NORTH AMERICA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            112

TABLE 41              NORTH AMERICA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (UNIT)              112

TABLE 42              NORTH AMERICA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (UNIT)              113

TABLE 43              US: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (USD MILLION)       114

TABLE 44              US: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (USD MILLION)       114

TABLE 45              US: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)        114

TABLE 46              US: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)        114

TABLE 47              US: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            115

TABLE 48              US: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            115

TABLE 49              US: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (UNIT)      115

TABLE 50              US: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (UNIT)      116

TABLE 51              CANADA: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (USD MILLION)            117

TABLE 52              CANADA: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (USD MILLION)            117

TABLE 53              CANADA: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)              117

TABLE 54              CANADA: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)              117

TABLE 55              CANADA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            118

TABLE 56              CANADA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            118

TABLE 57              CANADA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (UNIT)             118

TABLE 58              CANADA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (UNIT)             119

TABLE 59              MEXICO: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (USD MILLION)            120

TABLE 60              MEXICO: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (USD MILLION)            120

TABLE 61              MEXICO: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)              120

TABLE 62              MEXICO: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)              120

TABLE 63              MEXICO: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            121

TABLE 64              MEXICO: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            121

TABLE 65              MEXICO: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (UNIT)             121

TABLE 66              MEXICO: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (UNIT)             122

TABLE 67              EUROPE: HEAT EXCHANGER MARKET, BY COUNTRY, 2022–2024 (USD MILLION)     123

TABLE 68              EUROPE: HEAT EXCHANGER MARKET, BY COUNTRY, 2025–2030 (USD MILLION)     124

TABLE 69              EUROPE: HEAT EXCHANGER MARKET, BY COUNTRY, 2022–2024 (UNIT)      124

TABLE 70              EUROPE: HEAT EXCHANGER MARKET, BY COUNTRY, 2025–2030 (UNIT)      124

TABLE 71              EUROPE: HEAT EXCHANGER MARKET, BY MATERIAL, 2022–2024 (USD MILLION)    125

TABLE 72              EUROPE: HEAT EXCHANGER MARKET, BY MATERIAL, 2025–2030 (USD MILLION)    126

TABLE 73              EUROPE: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (USD MILLION)            126

TABLE 74              EUROPE: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (USD MILLION)            127

TABLE 75              EUROPE: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)              127

TABLE 76              EUROPE: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)              127

TABLE 77              EUROPE: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            128

TABLE 78              EUROPE: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            128

TABLE 79              EUROPE: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (UNIT)             128

TABLE 80              EUROPE: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (UNIT)             129

TABLE 81              GERMANY: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (USD MILLION)                130

TABLE 82              GERMANY: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (USD MILLION)                130

TABLE 83              GERMANY: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT) 130

TABLE 84              GERMANY: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT) 131

TABLE 85              GERMANY: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            131

TABLE 86              GERMANY: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            131

TABLE 87              GERMANY: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (UNIT)              132

TABLE 88              GERMANY: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (UNIT)              132

TABLE 89              FRANCE: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (USD MILLION)            133

TABLE 90              FRANCE: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (USD MILLION)            133

TABLE 91              FRANCE: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)              133

TABLE 92              FRANCE: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)              134

TABLE 93              FRANCE: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            134

TABLE 94              FRANCE: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            134

TABLE 95              FRANCE: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (UNIT)             135

TABLE 96              FRANCE: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (UNIT)             135

TABLE 97              UK: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (USD MILLION)       136

TABLE 98              UK: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (USD MILLION)       136

TABLE 99              UK: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)        136

TABLE 100            UK: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)        137

TABLE 101            UK: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            137

TABLE 102            UK: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            137

TABLE 103            UK: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (UNIT)      138

TABLE 104            UK: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (UNIT)      138

TABLE 105            ITALY: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (USD MILLION)            139

TABLE 106            ITALY: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (USD MILLION)            139

TABLE 107            ITALY: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)              139

TABLE 108            ITALY: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)              140

TABLE 109            ITALY: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            140

TABLE 110            ITALY: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            140

TABLE 111            ITALY: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (UNIT)             141

TABLE 112            ITALY: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (UNIT)             141

TABLE 113            RUSSIA: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (USD MILLION)            142

TABLE 114            RUSSIA: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (USD MILLION)            142

TABLE 115            RUSSIA: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)              142

TABLE 116            RUSSIA: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)              143

TABLE 117            RUSSIA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            143

TABLE 118            RUSSIA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            143

TABLE 119            RUSSIA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (UNIT)             144

TABLE 120            RUSSIA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (UNIT)             144

TABLE 121            TURKEY: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (USD MILLION)            145

TABLE 122            TURKEY: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (USD MILLION)            145

TABLE 123            TURKEY: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)              145

TABLE 124            TURKEY: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)              145

TABLE 125            TURKEY: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            146

TABLE 126            TURKEY: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            146

TABLE 127            TURKEY: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (UNIT)             146

TABLE 128            TURKEY: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (UNIT)             147

TABLE 129            REST OF EUROPE: HEAT EXCHANGER MARKET, BY TYPE,

2022–2024 (USD MILLION)            147

TABLE 130            REST OF EUROPE: HEAT EXCHANGER MARKET, BY TYPE,

2025–2030 (USD MILLION)            147

TABLE 131            REST OF EUROPE: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)          148

TABLE 132            REST OF EUROPE: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)          148

TABLE 133            REST OF EUROPE: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            148

TABLE 134            REST OF EUROPE: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            149

TABLE 135            REST OF EUROPE: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (UNIT)              149

TABLE 136            REST OF EUROPE: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (UNIT)              149

TABLE 137            ASIA PACIFIC: HEAT EXCHANGER MARKET, BY COUNTRY,

2022–2024 (USD MILLION)            151

TABLE 138            ASIA PACIFIC: HEAT EXCHANGER MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            152

TABLE 139            ASIA PACIFIC: HEAT EXCHANGER MARKET, BY COUNTRY, 2022–2024 (UNIT)      152

TABLE 140            ASIA PACIFIC: HEAT EXCHANGER MARKET, BY COUNTRY, 2025–2030 (UNIT)      152

TABLE 141            ASIA PACIFIC: HEAT EXCHANGER MARKET, BY MATERIAL,

2022–2024 (USD MILLION)            153

TABLE 142            ASIA PACIFIC: HEAT EXCHANGER MARKET, BY MATERIAL,

2025–2030 (USD MILLION)            154

TABLE 143            ASIA PACIFIC: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (USD MILLION)                154

TABLE 144            ASIA PACIFIC: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (USD MILLION)                155

TABLE 145            ASIA PACIFIC: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT) 155

TABLE 146            ASIA PACIFIC: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT) 155

TABLE 147            ASIA PACIFIC: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            156

TABLE 148            ASIA PACIFIC: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            156

TABLE 149            ASIA PACIFIC: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (UNIT)              156

TABLE 150            ASIA PACIFIC: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (UNIT)              157

TABLE 151            CHINA: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (USD MILLION)            158

TABLE 152            CHINA: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (USD MILLION)            158

TABLE 153            CHINA: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)              158

TABLE 154            CHINA: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)              158

TABLE 155            CHINA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            159

TABLE 156            CHINA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            159

TABLE 157            CHINA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (UNIT)             159

TABLE 158            CHINA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (UNIT)             160

TABLE 159            JAPAN: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (USD MILLION)            161

TABLE 160            JAPAN: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (USD MILLION)            161

TABLE 161            JAPAN: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)              161

TABLE 162            JAPAN: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)              161

TABLE 163            JAPAN: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            162

TABLE 164            JAPAN: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            162

TABLE 165            JAPAN: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (UNIT)             162

TABLE 166            JAPAN: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (UNIT)             163

TABLE 167            INDIA: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (USD MILLION)            164

TABLE 168            INDIA: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (USD MILLION)            164

TABLE 169            INDIA: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)              164

TABLE 170            INDIA: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)              164

TABLE 171            INDIA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            165

TABLE 172            INDIA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            165

TABLE 173            INDIA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (UNIT)             165

TABLE 174            INDIA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (UNIT)             166

TABLE 175            SOUTH KOREA: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (USD MILLION)                167

TABLE 176            SOUTH KOREA: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (USD MILLION)                167

TABLE 177            SOUTH KOREA: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT) 167

TABLE 178            SOUTH KOREA: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT) 167

TABLE 179            SOUTH KOREA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            168

TABLE 180            SOUTH KOREA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            168

TABLE 181            SOUTH KOREA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (UNIT)              168

TABLE 182            SOUTH KOREA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (UNIT)              169

TABLE 183            REST OF ASIA PACIFIC: HEAT EXCHANGER MARKET, BY TYPE,

2022–2024 (USD MILLION)            169

TABLE 184            REST OF ASIA PACIFIC: HEAT EXCHANGER MARKET, BY TYPE,

2025–2030 (USD MILLION)            169

TABLE 185            REST OF ASIA PACIFIC: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)      170

TABLE 186            REST OF ASIA PACIFIC: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)      170

TABLE 187            REST OF ASIA PACIFIC: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (USD MILLION)                 170

TABLE 188            REST OF ASIA PACIFIC: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (USD MILLION)                 171

TABLE 189            REST OF ASIA PACIFIC: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (UNIT)        171

TABLE 190            REST OF ASIA PACIFIC: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (UNIT)        171

TABLE 191            SOUTH AMERICA: HEAT EXCHANGER MARKET, BY COUNTRY,

2022–2024 (USD MILLION)            172

TABLE 192            SOUTH AMERICA: HEAT EXCHANGER MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            172

TABLE 193            SOUTH AMERICA: HEAT EXCHANGER MARKET, BY COUNTRY, 2022–2024 (UNIT)                 172

TABLE 194            SOUTH AMERICA: HEAT EXCHANGER MARKET, BY COUNTRY, 2025–2030 (UNIT)                 173

TABLE 195            SOUTH AMERICA: HEAT EXCHANGER MARKET, BY MATERIAL,

2022–2024 (USD MILLION)            173

TABLE 196            SOUTH AMERICA: HEAT EXCHANGER MARKET, BY MATERIAL,

2025–2030 (USD MILLION)            174

TABLE 197            SOUTH AMERICA: HEAT EXCHANGER MARKET, BY TYPE,

2022–2024 (USD MILLION)            174

TABLE 198            SOUTH AMERICA: HEAT EXCHANGER MARKET, BY TYPE,

2025–2030 (USD MILLION)            175

TABLE 199            SOUTH AMERICA: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)          175

TABLE 200            SOUTH AMERICA: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)          175

TABLE 201            SOUTH AMERICA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            176

TABLE 202            SOUTH AMERICA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            176

TABLE 203            SOUTH AMERICA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (UNIT)              176

TABLE 204            SOUTH AMERICA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (UNIT)              177

TABLE 205            BRAZIL: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (USD MILLION)            177

TABLE 206            BRAZIL: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (USD MILLION)            178

TABLE 207            BRAZIL: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)              178

TABLE 208            BRAZIL: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)              178

TABLE 209            BRAZIL: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            179

TABLE 210            BRAZIL: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            179

TABLE 211            BRAZIL: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (UNIT)             179

TABLE 212            BRAZIL: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (UNIT)             180

TABLE 213            ARGENTINA: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (USD MILLION)                180

TABLE 214            ARGENTINA: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (USD MILLION)                181

TABLE 215            ARGENTINA: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT) 181

TABLE 216            ARGENTINA: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT) 181

TABLE 217            ARGENTINA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            182

TABLE 218            ARGENTINA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            182

TABLE 219            ARGENTINA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (UNIT)              182

TABLE 220            ARGENTINA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (UNIT)              183

TABLE 221            REST OF SOUTH AMERICA: HEAT EXCHANGER MARKET, BY TYPE,

2022–2024 (USD MILLION)            183

TABLE 222            REST OF SOUTH AMERICA: HEAT EXCHANGER MARKET, BY TYPE,

2025–2030 (USD MILLION)            183

TABLE 223            REST OF SOUTH AMERICA: HEAT EXCHANGER MARKET, BY TYPE,

2022–2024 (UNIT)              184

TABLE 224            REST OF SOUTH AMERICA: HEAT EXCHANGER MARKET, BY TYPE,

2025–2030 (UNIT)              184

TABLE 225            REST OF SOUTH AMERICA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (USD MILLION)                 184

TABLE 226            REST OF SOUTH AMERICA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (USD MILLION)                 185

TABLE 227            REST OF SOUTH AMERICA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (UNIT)        185

TABLE 228            REST OF SOUTH AMERICA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (UNIT)        185

TABLE 229            MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY COUNTRY,

2022–2024 (USD MILLION)            186

TABLE 230            MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            186

TABLE 231            MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY COUNTRY,

2022–2024 (UNIT)              187

TABLE 232            MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY COUNTRY,

2025–2030 (UNIT)              187

TABLE 233            MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY MATERIAL,

2022–2024 (USD MILLION)            188

TABLE 234            MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY MATERIAL,

2025–2030 (USD MILLION)            189

TABLE 235            MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY TYPE,

2022–2024 (USD MILLION)            189

TABLE 236            MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY TYPE,

2025–2030 (USD MILLION)            190

TABLE 237            MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)      190

TABLE 238            MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)      190

TABLE 239            MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (USD MILLION)                 191

TABLE 240            MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (USD MILLION)                 191

TABLE 241            MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (UNIT)        191

TABLE 242            MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (UNIT)        192

TABLE 243            SAUDI ARABIA: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (USD MILLION)                193

TABLE 244            SAUDI ARABIA: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (USD MILLION)                193

TABLE 245            SAUDI ARABIA: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT) 193

TABLE 246            SAUDI ARABIA: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT) 193

TABLE 247            SAUDI ARABIA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            194

TABLE 248            SAUDI ARABIA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            194

TABLE 249            SAUDI ARABIA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (UNIT)              194

TABLE 250            SAUDI ARABIA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (UNIT)              195

TABLE 251            QATAR: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (USD MILLION)            195

TABLE 252            QATAR: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (USD MILLION)            196

TABLE 253            QATAR: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)              196

TABLE 254            QATAR: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)              196

TABLE 255            QATAR: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2022–2024 (USD MILLION)            197

TABLE 256            QATAR: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            197

TABLE 257            QATAR: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (UNIT)             197

TABLE 258            QATAR: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (UNIT)             198

TABLE 259            OTHER GCC COUNTRIES: HEAT EXCHANGER MARKET, BY TYPE,

2022–2024 (USD MILLION)            198

TABLE 260            OTHER GCC COUNTRIES: HEAT EXCHANGER MARKET, BY TYPE,

2025–2030 (USD MILLION)            199

TABLE 261            OTHER GCC COUNTRIES: HEAT EXCHANGER MARKET, BY TYPE, 2022–2024 (UNIT)      199

TABLE 262            OTHER GCC COUNTRIES: HEAT EXCHANGER MARKET, BY TYPE, 2025–2030 (UNIT)      199

TABLE 263            OTHER GCC COUNTRIES: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (USD MILLION)                 200

TABLE 264            OTHER GCC COUNTRIES: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (USD MILLION)                 200

TABLE 265            OTHER GCC COUNTRIES: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (UNIT)        201

TABLE 266            OTHER GCC COUNTRIES: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (UNIT)        201

TABLE 267            REST OF MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY TYPE,

2022–2024 (USD MILLION)            202

TABLE 268            REST OF MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY TYPE,

2025–2030 (USD MILLION)            202

TABLE 269            REST OF MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY TYPE,

2022–2024 (UNIT)              202

TABLE 270            REST OF MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY TYPE,

2025–2030 (UNIT)              203

TABLE 271            REST OF MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (USD MILLION)            203

TABLE 272            REST OF MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (USD MILLION)            203

TABLE 273            REST OF MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2022–2024 (UNIT)  204

TABLE 274            REST OF MIDDLE EAST & AFRICA: HEAT EXCHANGER MARKET, BY END-USE INDUSTRY, 2025–2030 (UNIT)  204

TABLE 275            HEAT EXCHANGER MARKET: DEGREE OF COMPETITION 208

TABLE 276            HEAT EXCHANGER MARKET: COMPANY FOOTPRINT       213

TABLE 277            HEAT EXCHANGER MARKET: REGION FOOTPRINT       214

TABLE 278            HEAT EXCHANGER MARKET: TYPE FOOTPRINT                 215

TABLE 279            HEAT EXCHANGER MARKET: MATERIAL FOOTPRINT       216

TABLE 280            HEAT EXCHANGER MARKET: END-USE INDUSTRY FOOTPRINT 217

TABLE 281            HEAT EXCHANGER MARKET: DETAILED LIST OF KEY STARTUPS/SMES    221

TABLE 282            HEAT EXCHANGER MARKET: COMPETITIVE BENCHMARKING OF STARTUPS/SMES   222

TABLE 283            HEAT EXCHANGER MARKET: PRODUCT LAUNCHES, JANUARY 2019–AUGUST 2025              223

TABLE 284            HEAT EXCHANGER MARKET: DEALS, JANUARY 2019 – AUGUST 2025         226

TABLE 285            HEAT EXCHANGER MARKET: EXPANSIONS, JANUARY 2019–AUGUST 2025       230

TABLE 286            ALFA LAVAL: COMPANY OVERVIEW        234

TABLE 287            ALFA LAVAL: PRODUCTS/SOLUTIONS/SERVICES OFFERED    235

TABLE 288            ALFA LAVAL: PRODUCT LAUNCHES        239

TABLE 289            ALFA LAVAL: DEALS       240

TABLE 290            ALFA LAVAL: EXPANSIONS          242

TABLE 291            KELVION HOLDING GMBH: COMPANY OVERVIEW          244

TABLE 292            KELVION HOLDING GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED    244

TABLE 293            KELVION HOLDING GMBH: PRODUCT LAUNCHES          245

TABLE 294            KELVION HOLDING GMBH: EXPANSIONS                 246

TABLE 295            DANFOSS: COMPANY OVERVIEW              248

TABLE 296            DANFOSS: PRODUCTS/SOLUTIONS/SERVICES OFFERED             249

TABLE 297            DANFOSS: PRODUCT LAUNCHES              251

TABLE 298            DANFOSS: DEALS             252

TABLE 299            DANFOSS: EXPANSIONS                252

TABLE 300            EXCHANGER INDUSTRIES LIMITED: COMPANY OVERVIEW          254

TABLE 301            EXCHANGER INDUSTRIES LIMITED: PRODUCT OFFERINGS        254

TABLE 302            EXCHANGER INDUSTRIES LIMITED: PRODUCT LAUNCHES          256

TABLE 303            EXCHANGER INDUSTRIES LIMITED: DEALS                 257

TABLE 304            MERSEN: COMPANY OVERVIEW                258

TABLE 305            MERSEN: PRODUCTS/SOLUTIONS/SERVICES OFFERED             259

TABLE 306            MERSEN: PRODUCT LAUNCHES                261

TABLE 307            MERSEN: DEALS                261

TABLE 308            API HEAT TRANSFER: COMPANY OVERVIEW                 263

TABLE 309            API HEAT TRANSFER: PRODUCTS/SOLUTIONS/SERVICES OFFERED    263

TABLE 310            BOYD: COMPANY OVERVIEW     267

TABLE 311            BOYD: PRODUCTS/SOLUTIONS/SERVICES OFFERED             267

TABLE 312            BOYD: DEALS    268

TABLE 313            BOYD: EXPANSIONS       268

TABLE 314            JOHNSON CONTROLS: COMPANY OVERVIEW                 270

TABLE 315            JOHNSON CONTROLS: PRODUCTS/SOLUTIONS/SERVICES OFFERED    271

TABLE 316            JOHNSON CONTROLS: PRODUCT LAUNCHES                 271

TABLE 317            XYLEM: COMPANY OVERVIEW  272

TABLE 318            XYLEM: PRODUCTS/SOLUTIONS/SERVICES OFFERED             273

TABLE 319            XYLEM: PRODUCT LAUNCHES   274

TABLE 320            WABTEC CORPORATION: COMPANY OVERVIEW                 276

TABLE 321            WABTEC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED    277

TABLE 322            WABTEC CORPORATION: DEALS              280

TABLE 323            WABTEC CORPORATION: EXPANSIONS 281

TABLE 324            SPX FLOW: COMPANY OVERVIEW            282

TABLE 325            SPX FLOW: PRODUCTS/SOLUTIONS/SERVICES OFFERED             282

TABLE 326            SPX FLOW: EXPANSIONS               284

TABLE 327            LU-VE GROUP: COMPANY OVERVIEW    285

TABLE 328            LU-VE GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED    286

TABLE 329            LU-VE GROUP: DEALS   287

TABLE 330            LU-VE GROUP: EXPANSIONS      287

TABLE 331            LENNOX INTERNATIONAL INC.: COMPANY OVERVIEW          289

TABLE 332            LENNOX INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    290

TABLE 333            LENNOX INTERNATIONAL INC.: EXPANSIONS                 290

TABLE 334            MODINE MANUFACTURING COMPANY: COMPANY OVERVIEW   291

TABLE 335            MODINE MANUFACTURING COMPANY: PRODUCTS/SOLUTIONS/

SERVICES OFFERED        292

TABLE 336            MODINE MANUFACTURING COMPANY: DEALS                 293

TABLE 337            WIELAND: COMPANY OVERVIEW             294

TABLE 338            WIELAND: PRODUCTS/SOLUTIONS/SERVICES OFFERED             294

TABLE 339            WIELAND: DEALS             295

TABLE 340            WIELAND: OTHER DEVELOPMENTS       296

TABLE 341            HISAKA WORKS, LTD.: COMPANY OVERVIEW                 301

TABLE 342            HINDUSTAN DORR-OLIVER LTD.: COMPANY OVERVIEW          302

TABLE 343            KOCH HEAT TRANSFER COMPANY: COMPANY OVERVIEW          302

TABLE 344            RADIANT HEAT EXCHANGER PVT. LTD.: COMPANY OVERVIEW   303

TABLE 345            SWEP INTERNATIONAL AB: COMPANY OVERVIEW          303

TABLE 346            THERMAX LIMITED: COMPANY OVERVIEW                 304

TABLE 347            SIERRA S.P.A.: COMPANY OVERVIEW      304

TABLE 348            VAHTERUS OY: COMPANY OVERVIEW   305

LIST OF FIGURES

FIGURE 1              HEAT EXCHANGER MARKET: SEGMENTATION                 30

FIGURE 2              HEAT EXCHANGER MARKET: RESEARCH DESIGN                33

FIGURE 3              HEAT EXCHANGER MARKET: BOTTOM-UP APPROACH         37

FIGURE 4              HEAT EXCHANGER MARKET: TOP-DOWN APPROACH         37

FIGURE 5              HEAT EXCHANGER MARKET: DATA TRIANGULATION             38

FIGURE 6              SHELL & TUBE SEGMENT TO ACCOUNT FOR LARGEST SHARE OF HEAT

EXCHANGER MARKET IN 2030    40

FIGURE 7              METALS SEGMENT TO ACCOUNT FOR LARGEST SHARE OF HEAT

EXCHANGER MARKET IN 2030    41

FIGURE 8              CHEMICAL SEGMENT TO ACCOUNT FOR LARGEST SHARE OF HEAT

EXCHANGER MARKET IN 2030    41

FIGURE 9              ASIA PACIFIC TO BE FASTEST-GROWING MARKET FOR HEAT

EXCHANGERS DURING FORECAST PERIOD         42

FIGURE 10            EMERGING ECONOMIES TO CREATE LUCRATIVE OPPORTUNITIES

FOR MARKET PLAYERS DURING FORECAST PERIOD       43

FIGURE 11            PLATE & FRAME SEGMENT TO REGISTER HIGHEST CAGR DURING

FORECAST PERIOD         43

FIGURE 12            HVAC & REFRIGERATION SEGMENT TO RECORD HIGHEST

CAGR DURING FORECAST PERIOD          44

FIGURE 13            INDIA TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD         44

FIGURE 14            HEAT EXCHANGER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES,

AND CHALLENGES          45

FIGURE 15            HEAT EXCHANGER MARKET: PORTER’S FIVE FORCES ANALYSIS           52

FIGURE 16            INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY KEY END-USE INDUSTRY  54

FIGURE 17            KEY BUYING CRITERIA, BY KEY END-USE INDUSTRY           55

FIGURE 18            HEAT EXCHANGER MARKET: VALUE CHAIN ANALYSIS            60

FIGURE 19            IMPORT DATA FOR HS CODE 841950-COMPLIANT PRODUCTS,

BY KEY COUNTRY, 2020–2024 (USD THOUSAND)                66

FIGURE 20            EXPORT DATA FOR HS CODE 841950-COMPLIANT PRODUCTS,

BY KEY COUNTRY, 2020–2024 (USD THOUSAND)                67

FIGURE 21            AVERAGE SELLING PRICE TREND OF HEAT EXCHANGERS,

BY REGION, 2022–2030 (USD/UNIT)          67

FIGURE 22            AVERAGE SELLING PRICE TREND OF HEAT EXCHANGERS,

BY TYPE, 2024–2030 (USD/UNIT)                68

FIGURE 23            AVERAGE SELLING PRICE TREND OF HEAT EXCHANGERS OFFERED

BY KEY PLAYERS, BY END-USE INDUSTRY, 2024 (USD/UNIT)                 68

FIGURE 24            INVESTMENT AND FUNDING SCENARIO, 2019–2023 (USD MILLION)       69

FIGURE 25            HEAT EXCHANGER MARKET: ECOSYSTEM                 69

FIGURE 26            TREND/DISRUPTIONS INFLUENCING CUSTOMER BUSINESS   70

FIGURE 27            HEAT EXCHANGER MARKET: GRANTED PATENTS, 2015–2024        76

FIGURE 28            NUMBER OF PATENTS YEAR-WISE, 2015–2024                 76

FIGURE 29            US JURISDICTION REGISTERED HIGHEST PERCENTAGE OF PATENTS, 2015–2024    77

FIGURE 30            TOP 10 PATENT APPLICANTS, 2015–2024                 77

FIGURE 31            PLATE & FRAME HEAT EXCHANGERS TO REGISTER HIGHEST CAGR

DURING FORECAST PERIOD       81

FIGURE 32            METALS SEGMENT TO DOMINATE HEAT EXCHANGER MARKET

DURING FORECAST PERIOD       88

FIGURE 33            HVAC & REFRIGERATION INDUSTRY TO REGISTER HIGHEST

CAGR DURING FORECAST PERIOD          96

FIGURE 34            INDIA TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD       105

FIGURE 35            NORTH AMERICA: HEAT EXCHANGER MARKET SNAPSHOT          107

FIGURE 36            EUROPE: HEAT EXCHANGER MARKET SNAPSHOT          123

FIGURE 37            ASIA PACIFIC: HEAT EXCHANGER MARKET SNAPSHOT          151

FIGURE 38            OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS IN HEAT EXCHANGER MARKET BETWEEN 2019 AND 2025        206

FIGURE 39            REVENUE ANALYSIS OF KEY COMPANIES IN HEAT EXCHANGER

MARKET, 2022–2024 (USD BILLION)         207

FIGURE 40            HEAT EXCHANGER MARKET SHARE ANALYSIS, 2024        207

FIGURE 41            COMPANY VALUATION OF LEADING COMPANIES IN HEAT

EXCHANGER MARKET, 2024         210

FIGURE 42            FINANCIAL METRICS OF LEADING COMPANIES IN HEAT

EXCHANGER MARKET, 2024         210

FIGURE 43            HEAT EXCHANGER MARKET: BRAND COMPARISON   211

FIGURE 44            HEAT EXCHANGER MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024         212

FIGURE 45            HEAT EXCHANGER MARKET: COMPANY EVALUATION MATRIX

(STARTUPS/SMES), 2024                220

FIGURE 46            ALFA LAVAL: COMPANY SNAPSHOT       235

FIGURE 47            DANFOSS: COMPANY SNAPSHOT             249

FIGURE 48            MERSEN: COMPANY SNAPSHOT                259

FIGURE 49            JOHNSON CONTROLS: COMPANY SNAPSHOT                 270

FIGURE 50            XYLEM: COMPANY SNAPSHOT  273

FIGURE 51            WABTEC CORPORATION: COMPANY SNAPSHOT          277

FIGURE 52            LU-VE GROUP: COMPANY SNAPSHOT    286

FIGURE 53            LENNOX INTERNATIONAL INC.: COMPANY SNAPSHOT          289

FIGURE 54            MODINE MANUFACTURING COMPANY: COMPANY SNAPSHOT   292