The ongoing expansion in end-use industries with the influx of new investment ventures across heavy duty operations coupled with continuous technological advancements to introduce more efficient designs and materials will positively sway the industry growth.
Air Cooled Heat Exchanger Market Report Attributes
Report Attribute
Details
Base Year:
2023
Air Cooled Heat Exchanger Market Size in 2023:
USD 3.9 Billion
Forecast Period:
2024 to 2032
Forecast Period 2024 to 2032 CAGR:
8.4%
2032 Value Projection:
USD 8.1 Billion
Historical Data for:
2021 - 2023
No. of Pages:
95
Tables, Charts & Figures:
32
Segments covered:
Application and Region
Growth Drivers:
Stern regulations and standards aimed at supporting energy efficiency
Expanding investments across different industrial sectors
Ongoing technological advancements in heat exchanger designs & materials
The global market for air cooled heat exchanger was valued at USD 3.9 billion in 2023 and is projected to grow at a CAGR of 8.4% from 2024 to 2032, driven by the expansion in end-use industries and new investments in heavy-duty operations.
The chemical segment is projected to exceed USD 2.2 billion by 2032, while the oil and gas sector will benefit from the increasing use of heat exchangers to reduce energy consumption and operational costs.
The U.S. air-cooled heat exchanger industry is projected to exceed USD 1.2 billion by 2032, due to increased energy efficiency and sustainability efforts.
Major key players in the market include ALFA LAVAL, Altex Industries, AXH air-coolers, Boldrocchi, Chart Industries, Dry Coolers, EMMEGI Heat Exchangers, Exchanger Industries, Graham Hart (Process Technology), Industrial Heat Transfer, Kawasaki Heavy Industries, Marmon Industrial Water, Perry Hayden, Positron, SPG Dry Cooling, SPX Cooling Tech, Spiro-Gills Thermal Products, Thermax, Thermofin.
