Heat Exchangers Market Size, Share, Growth Analysis, By Product(Plate & frame heat exchanger, Shell & tube heat exchanger, Air-cooled heat exchanger, Others), By End-Use(Chemical, Food & Beverage, HVAC & refrigeration, Oil & Gas), By Material(Steel, Non-Steel), By Region - Industry Forecast 2024-2031

The market is characterized by the presence of a few well-established players. New product launches, partnerships and investing in research & development have been a key business strategy. Some of their recent developments are as follows:

Heat Exchangers Market Top Players Company Profiles

• Alfa Laval AB
• Danfoss A/S
• Kelvion Holding GmbH
• Xylem Inc.
• API Heat Transfer Inc.
• GEA Group AG
• Hisaka Works Ltd.
• HRS Heat Exchangers Ltd.
• SWEP International AB
• Tranter Inc.
• Accessen Group Co. Ltd.
• Barriquand Technologies Thermiques
• Chart Industries Inc.
• Doucette Industries Inc.
• Fischer Maschinen und Apparatebau GmbH
• Mueller Industries Inc.
• Sondex A/S
• SPX Flow Inc.
• Vahterus Oy
• Zhejiang Forwon Plate Heat Exchanger Co. Ltd.

Heat Exchangers Market Recent Developments

• In March 2022, Alfa Laval at their first online net-zero launch event launches new, cutting-edge thinking in energy-efficiency, clean energy, and circular-economy solutions, including the new Alfa Laval AC65 brazed plate heat exchanger.
• In February 2022, Bharat Heavy Electricals Limited (BHEL), an Indian government-owned engineering and manufacturing enterprise, has received an order from Hindustan Aeronautics Limited (HAL) to supply Compact Heat Exchanger sets for 83 light combat Tejas MK1A aircraft for an undisclosed sum. This order calls for the production, assembly, testing, and supply of compact heat exchangers for the LCA Tejas aircraft.
• In February 2022,Wieland acquired Provides, a leading company in the research, development and production of heat exchangers with locations in Italy, USA and China.
• In June 2021, GE's R&D division tested the new 3D- printed heat exchanger at a temperature of 900 degrees. GE is developing products that can sustain a temperature of more than 200 degrees, which is the capability of already existing heat exchangers.
• In January 2021, BOYD Corporation opened a new production plant in Juarez, Mexico, to extend its North American activities. In an automated factory fuelled by renewable energy, the business will manufacture thermal systems and diverse engineered materials. The quality management system will be accredited for the 40, 000-square-meter facility. To cater to the North American market, the growth plan will provide extra capacity to create very complicated liquid cooling systems, liquid cold plates, and sophisticated rotary die-cutting capabilities.