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North America Heat Exchanger Market Trends

Report ID: GMI10041
Published Date: Jun 2024
Report Format: PDF

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North America Heat Exchanger Market Trends

The North America heat exchanger industry is anticipated to grow owing to rising investments in industrial infrastructures for heat exchange systems along with shifting focus towards energy efficiency. For instance, in February 2024, CertainTeed Canada Inc. installed a heat exchanger system on its drywall board dryer at its gypsum facility in British Columbia. This project for the company is expected to cut Scope 1 CO2 emissions by nearly 15%. It marks a significant investment in boosting efficiency, output, and recycling, that aligns with the company’s objective to deliver sustainable systems.

Furthermore, growing inclination toward utilization of waste heat from several industrial processes and initiatives toward meeting stringent energy efficiency standards will positively influence the business outlook.

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The market size for heat exchanger in North America recorded USD 3 billion in 2023 and is expected to depict 8.1% CAGR from 2024 to 2032, led by the growing investments in industrial operations for manufacturing, chemical and power generation.

The shell & tube technology segment in the North America heat exchanger industry is projected to record over USD 2.2 billion by 2032, led by the growing demand for energy-efficient HVAC systems and growing industrialization.

The chemical application segment in the North America heat exchanger market is estimated to observe over 8.5% CAGR between 2024 and 2032, due to the rising demand for various chemical and petrochemical products of improved heat exchanger technology.

U.S. market is poised to cross more than USD 5 billion by 2032, led by the presence of favorable, government programs including financial aids aimed at promoting the heat exchange technologies.