Europe Heat Exchanger Market Size

Europe Heat Exchanger Market was valued at USD 5.7 billion in 2023 and is set to observe 7.8% CAGR from 2024 to 2032. Rising energy demands for heating & cooling systems in building infrastructure and increasing investments across heavy-duty industrial operations are driving the industry growth.

For instance, implementation of the European Green Deal requires a significant amount of investment, around USD 563 billion (EUR 520 billion) per year from 2021 to 2030. Additional expenditures of around EUR 92 billion required to increase EU's capacity to manufacture net-zero technologies from 2023 to 2030. Shifting focus toward efficient climate control solutions and expanding industrial operations, elevated the need for robust and reliable systems, further complementing the business outlook.

Europe Heat Exchanger Market Trends

The Europe heat exchanger market is anticipated to grow owing to significant focus towards improving energy efficiency and rising inclination on utilizing waste heat from industrial processes. Additionally, harsh winter conditions in several countries, coupled with a growing emphasis to meet energy efficiency norms and regulation will augment the industry landscape. Furthermore, increasing energy needs in industries, and accelerated investments in upgrading existing energy infrastructures, is set to further stimulate the industry outlook.

Europe Heat Exchanger Market Analysis

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Shell & tube heat exchanger market is set to surpass USD 3.5 billion by 2032. Rising demand for these units across various applications including chemical, oil & gas, food & beverages among others, combined with increased emphasis on energy efficiency has augmented the product demand. Accelerating investments across manufacturing, and industrial projects along with increasing significance of operations for specialty chemicals, will influence the industry outlook.

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Central heating & refrigeration application is anticipated to observe over 7% CAGR through 2032. Significant shift toward the use of improved heat exchanger technology accommodating low-global warming potential refrigerants and comply with strict environmental regulations will positively influence the business scenario. Stringent regulatory mandates for heating & cooling across commercial and industrial operations, combined with inclination toward energy efficiency and the integration of digital technologies to enhance overall climate control in various facilities, will influence the industry outlook.

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Germany heat exchanger market likely to exceed USD 2.4 billion by 2032. Favorable, government programs aimed at promoting industrial sustainability and introduction of Industry 4.0, including automation, and digital technologies in manufacturing processes, will positively influence the industry landscape. Moreover, growing demand for energy-efficient central heating and cooling systems in building infrastructure owing to rapidly growing industrialization and urban expansion, which has expedited construction, further proliferating the business dynamics.

The UK heat exchanger market is anticipated to grow owing to rising demand for and efficient heating & cooling solutions along with nation’s ambitious net-zero targets are pushing industries towards adoption of energy-efficient solutions. Moreover, stringent environmental regulations, infrastructure upgradation, and ongoing technological advancements across heat exchanger technology is propelling the industry outlook.

Europe Heat Exchanger Market Share

Key players in the Europe heat exchanger industry are focusing on making strategic partnerships, alliances, agreements, pursuing mergers & acquisitions, and introducing innovative products to gain their market competitiveness. Major players including ALFA LAVAL, Mersen Group, Kelvion Holding GmbH, FUNKE Wärmeaustauscher Apparatebau GmbH, SWEP International AB and Xylem., among other, holds majority of the market share.

Europe Heat Exchanger Market Companies

Major manufacturers operating across the industry consists of:

• ALFA LAVAL
• AMI Exchangers Ltd
• Anthermo GmbH
• APEX Heat Transfer
• API Heat Transfer
• Bronswerk
• Danfoss
• ECOTHERM Austria GmbH
• FUNKE Warmeaustauscher Apparatebau GmbH
• HRS Heat Exchangers
• IWS-Monje Heat Exchangers GmbH
• Kelvion Holding GmbH
• Koch Heat Transfer Company
• Mersen Group
• Nexson
• Pentair
• SPX FLOW
• SWEP International AB
• Thermex
• Xylem
  

Europe Heat Exchanger Industry News

• In April 2024, Nexson Group acquired German plate heat exchanger manufacturer Thermowave GmbH from the Güntner group. This acquisition will allow Thermowave to function as an individual entity under its prevailing brand name. This move strengthens the company’s portfolio by adding technologically superior semi-welded and gasketed plate heat exchangers and aims to globally expand and diversify heat transfer and heat recovery offerings.
  
• In April 2024, Alfa Laval inaugurated a new production line for printed circuit heat exchangers at its Vicarb plant in Le Fontanil, Isère. This enhanced line utilizes advanced diffusion-welding technology to create ultra-compact heat exchangers. These innovative solutions are designed to support the energy transition across various sectors, including energy and marine industries, with a particular focus on hydrogen-related applications.
  

This Europe heat exchanger market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2021 to 2032 for the following segments:

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Market, By Technology

• Shell & tube
• Plate
• Air cooled
• Others

Market, By Application

• Oil & Gas
• Chemical
• Power generation & metallurgy
• Marine
• Mechanical industry
• Central heating & refrigeration
• Food processing
• Others

The above information has been provided for the following countries:

• Germany
• UK
• France
• Russia
• Italy
• Spain
• Poland
• Turkiye