DALLAS, December 19, 2014 /PRNewswire/ --
The report, "Heat Exchanger Market by Type (Shell & Tube, Plate & Frame, Air Cooled, Printed Circuit), by Application (Chemical, Petrochemical, Oil & Gas, HVACR, Food & Beverage, Pulp & Paper, Power Generation), Classifications (MoC, Temperature Range & Fluid Type) and Geography, Trends & Forecast to 2019", published by MarketsandMarkets, define and segment the global Heat Exchanger Market with analysis and forecasting of the global consumption revenue.
Browse 54 market data tables, 44 figures spread through 156 pages and in-depth TOC on "Heat Exchanger Market - Trends & Forecast to 2019"
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"Asia-Pacific - the fastest growing" Heat Exchangers market
Asia-Pacific, being the fastest growing heat exchangers market globally, is estimated to grow at a CAGR of 10.70% for the next five years. Asia-Pacific is witnessing high industrial growth rate, which hints at an ever-increasing demand of heat exchangers for its diverse applications. China is expected to witness strong growth in its heat exchangers market due to growing demand from chemical, petrochemical and oil & gas industry. HVAC industry is also growing at a healthier pace in this region. China dominates the heat exchangers market in Asia-Pacific region, being a major consumer and the fastest growing country in terms of heat exchangers demand. Currently, a high share of heat exchanger is being consumed by the chemical industry and the demand of heat exchangers through chemical industry is projected to grow in the next five years at a CAGR of 14.32% from 2014 to 2019. After China, countries such as India, Japan and other Asian countries, are showing increasing growth in demand for heat exchangers. Moreover, increasing number of heat exchangers manufacturers from Asian countries are putting vigorous efforts for developing a strong base of heat exchanger market, with a target of reducing heat exchanger imports.
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Europe - the biggest market of Heat Exchangers
Europe has always been a strong market for heat exchangers and globally, this market has been a leader for heat exchangers with respect to demand as well as production capacity. The region has the presence of most of the global leaders in heat exchanger manufacturing. Heat exchanger consumption in the region is estimated to grow at a CAGR of around 4.81% from 2014 to 2019. This region has a relatively slow growth rate as a result of its dominant market size and slow economic activity as compared to the other regions. The demand in this region is boosted mainly due to the increased replacement demand for the heat exchangers.
Currently, Europe acquires more than 30.0% of the total global market. The region has huge installed plant capacities of heat exchanger and is an export based heat exchanger market. Also, large number of emerging manufacturers from Eastern Europe is expected to reduce import dependence of various countries which is further expected to drive the Heat Exchanger Market in future.
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