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Asia Pacific Heat Exchanger Market Trends

Report ID: GMI8655
Published Date: Mar 2024
Report Format: PDF

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Asia Pacific Heat Exchanger Market Trends

The Asia Pacific heat exchanger industry is anticipated to grow owing to increasing demand for heating and cooling solutions along with a focus on utilizing waste heat from industrial processes. Changing climatic conditions in various nations, compliance with energy efficiency regulations and rising concerns toward limiting emissions are expected to further stimulate product demand.

For instance, in January 2024, China's National Development and Reform Commission, National Bureau of Statistics, and National Energy Administration issued a circular promoting non-fossil energy. It outlines plans to integrate green power certificates, energy conservation, and carbon dioxide emission reduction through policy development. Moreover, rising energy demand in sectors including power, petrochemicals and oil & gas sectors will shape the industry dynamics.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

Asia Pacific heat exchanger market reached a revenue of USD 5.8 billion in 2023 and is anticipated to grow at 9% CAGR from 2024 to 2032 on account of increased investments in heavy-duty industrial operations coupled with rising energy consumption in building heating & cooling systems.

Asia Pacific plate heat exchanger market is projected to generate over USD 3 billion in revenue by the end of 2032, owing to excellent heat transfer capabilities, efficient design, and ease of maintenance, along with a growing emphasis on sustainability and energy efficiency.

China heat exchangers market size is expected to reach USD 5 billion by 2032 attributed to the significant growth across chemicals, petrochemicals, energy, and manufacturing sectors coupled with government policies promoting energy efficiency.

Some of the key heat exchanger firms in the Asia Pacific are ACCESSEN GROUP, ALFA LAVAL, Danfoss, Funke Heat Exchanger Systems(Changzhou)Co.,Ltd., HISAKAWORKS S.E.A SDN BHD, Holtec International, HRS Process Systems Ltd., IHI Corporation, KAMUI CO.,LTD., Kelvion Holding GmbH, KNM Group Berhad, LARSEN & TOUBRO LIMITED, SPX FLOW, SWEP International AB, United Heat Transfer Pvt. Ltd, and Xylem.