Air-Cooled Heat Exchangers Market Analysis | 2024-2030

"The Air-Cooled Heat Exchangers Market is likely to grow at a significant CAGR of 5.3% in the long run to reach US$ 5.1 billion in 2030".

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Market Dynamics

Introduction

Air-cooled heat exchangers directly cool the various process mediums with ambient air as the cooling medium rather than water. These are made of finned tubes, within these tubes, various types of fluids are cooled or condensed. Air cooling eliminates the corrosion and fouling problems that are associated with water cooling. Selecting suitable tube materials can effectively cool or condense process fluids such as water, chemicals, or other heat transfer fluids.

Some Recent Market JVs and Acquisitions

• In 2021, Exchanger Industries Limited (“EIL”), one of the leading Canadian designers and manufacturers of heat transfer products acquired the HRS heat exchanger Ltd. The HRS heat exchanger Ltd. offers plate heat exchangers, corrugated tube heat exchangers, and scraped surface heat exchangers.
• In 2021, Enrequip acquired American Heating Company and expanded its heat exchangers product line. Enrequip’s updated product portfolio includes a variety of sanitary and industrial heating and cooling solutions, from shell and tube heat exchangers to industrial thermal fluid heaters and tank heating coils.

COVID-19 Impact

Segments Analysis

By End-Use Industry Type

"Power generation and petrochemical & chemical are projected to remain the dominant end-use industries during the forecast period". 

The market is segmented into oil & gas, petrochemical & chemical, food & beverage, power generation, HVAC & refrigeration, water & wastewater, pharmaceuticals, marine & shipbuilding, and others. Power generation and petrochemical & chemical are projected to remain the dominant end-use industries during the forecast period. 

HVAC & refrigeration and oil & gas industries also create sizeable opportunities in the coming years. Air-cooled heat exchangers have several advantages, such as no water requirement, high heat transfer coefficient, smaller footprint, lower maintenance costs than water-cooled systems, and suitability for high temperature and high-pressure applications, which drive their demand in the power generation and petrochemical & chemical segments.

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Regional Analysis

"Asia-Pacific is expected to remain the largest and fastest-growing region in the market during the forecast period". 

In terms of regions, Asia-Pacific is expected to remain the largest and fastest-growing region in the air-cooled heat exchangers market during the forecast period.

Rapid industrialization and rising investments in manufacturing, commercial, and industrial projects have all contributed to the overall growth of the heat exchangers market and, eventually, the region's air-cooled heat exchangers market. Europe and North America are also expected to generate significant opportunities over the next six years.

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Key Players

The market is fairly populated, with the presence of some local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s air-cooled heat exchangers market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruits available in the market and formulating growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 10 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com