North America Heat Exchangers Market is Expected to Reach $5,420.33 Million in 2019 - A Report by MicroMarket Monitor
(PRWEB) January 10, 2015 -- North America’s heat exchanger market was valued at $3,952.14 million in 2013 and is estimated to reach $5,420.33 million by 2019, at a CAGR of 6.1%, for the given period.
Browse through the TOC of North America Heat Exchangers Market for an analysis of industry trends and segments, with the help of various tables and figures.
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The ongoing global energy & economic crisis and continuously rising energy prices lead to the exploration of all possible options of reducing the consumption of energy. One of the most efficient options to save on the electricity bill is a heat exchanger. The basic idea of a heat exchanger is to take thermal energy from an existing source of heat within the process plant, concentrate it, and pass it over to other process fluids within the plant. In the same way, it can also be used to cool process streams. In recent times, the importance of this energy saving technique has been recognized by various process industries. Heat exchangers do not require electricity, which is how it saves between 20.0% and 40.0% on the power cost. The installation of heat exchangers is easy and can be done with very less renovation in an existing system.
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Rapid growth in industrialization in globally, has tremendously increased the number of technology-based capital-driven projects in industries such as chemical, pharmaceutical, brewery & distillery, petroleum, desalination, marine, power generation, nuclear, refrigeration and air conditioning, etc.; this helps generate the maximum demand for different types of heat exchangers. In these industries, heat exchangers are required in larger numbers; depending upon the application, heat exchangers are referred to as coolers, condensers, chillers, heaters, reboilers, vaporizers, waste heat boilers, etc.
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The chemical industry is expected to be the biggest consumer with nearly 39% of its consumption in 2013 in the North American region. The U.S. dominated the North American heat exchanger market with a share of nearly 80% of the total market, followed by Canada. The region is characterized with continuous technical innovations in various segments of the heat exchanger industry, with the presence of certain top global players such as Tranter Inc. (U.S.), Xylem Inc. (U.S.), API Heat Transfer Inc. (U.S.), Modine Manufacturing Company (U.S.), etc.
Related Reports:
Europe Heat Exchangers
Heat Exchanger market is experiencing high growth due to increasing demand from capital intensive projects in the industries such as chemical, brewery & distillery, petroleum, desalination, marine, power generation, nuclear, refrigeration and air conditioning, etc., The report estimates the Europe Heat Exchanger market size in terms of volume and value. The report provides a comprehensive review of the key market drivers, challenges, and key issues. European heat exchanger market was valued at $5,434.74 million in 2013 and is estimated to reach $6,983.9 million by 2019, at a CAGR of 4.7%, for the given period.
http://www.micromarketmonitor.com/market/europe-heat-exchangers-5559634315.html
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