Greenfield Projects in the Energy Industry Drives Demand for Heat Exchangers, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Heat Exchangers markets. Global market for Heat Exchangers is projected to reach US$21.6 billion by 2020, driven by Greenfield projects in the energy industry against a backdrop of escalating electricity consumption, and strong replacement demand encouraged by the need to upgrade to energy efficient systems.

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Heat Exchangers: A Global Strategic Business Report

San Jose, California (PRWEB) April 08, 2014

Follow us on LinkedIn – Heat exchangers are essential heat transfer devices used in all modern industrial, engineering, and commercial applications ranging from automotive, aerospace, commercial building HVAC to heating, cooling, and heat recovery applications in industrial plants, manufacturing facilities and power plants. A core component of all thermal systems, heat exchangers are vital and indispensable to energy conversion and utilization. Incremental improvements in energy efficiency have emerged as a key differentiating factor for manufacturers to compete in the marketplace. Technology innovations including the development of micro channel heat exchangers are poised to drive future gains in the market.

In addition to technology innovation, demand continues to be driven by rapid industrialization in developing countries and increasing investments in manufacturing plant infrastructures. Recovering global Purchasing Managers Index (PMI) is encouraging current growth in the market. Manufacturing output worldwide expanded and ended on an encouraging year-end performance in 2013, largely due to the recovery in demand and trade in countries such as United States, Japan and Germany. Industrial output in China expanded as a result of improved exports to Europe, as the region continues its fragile recovery. Shale gas revolution in the United States and its hidden game changing implications for the country’s manufacturing competitiveness in the form of lower prices of natural gas, is indirectly benefiting demand for heat exchangers. Also, in the United States, the fiscal cliff drama is now receding into the background with the threat of debt default eliminated by the unconditional suspension of the debt limit. Economic growth is witnessing a strong comeback as the economy now remains free to borrow, expand, and create new employment opportunities. Against this backdrop, demand for heat exchangers is poised to benefit, largely because increased investments in plant capacity expansions and upgrades will generate new and replacement demand in the market.

Increasing demand for energy worldwide is feeding optimism in the world oil & gas industry, which in turn is benefitting capital spending. This continuously growing demand for energy worldwide will keep the oil and gas industry at the forefront of radical technology development and poised to benefit is demand for energy efficient heat exchangers. Increasing investments in the establishment of oil/petroleum refining plants is also expected to benefit demand in the market. Heat exchangers play a vital role in regulating temperatures in oil refinery reactors. Significant capacity growth for oil refining is forecast to stem from the Middle East, Asia-Pacific and Latin America. Key factors driving oil refining activities include strong demand for oil & gas, increased demand for automotive fuel especially diesel fuel which requires additional refining, and growing demand for refined oil products, among others. Automotive fuel refining is especially driven by the global trend towards sulphur content reduction in motor fuels. In the United States, increased production of light shale oil has doubled the throughput at oil refining plants thus resulting in increased investments in capacity expansions and new plant construction.

As stated by the new market research report on Heat Exchangers, Europe represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing regional market with a CAGR of 6.4% over the analysis period.

Key players covered in the report include Alfa Laval AB, Tranter Inc., Barriquand Technologies Thermiques, Xylem Inc., Chicago Bridge & Iron Company N.V., Hamon Group, Harsco Industrial Air-X-Changers, Hisaka Works Ltd., Sondex, A/S, SmartHeat Inc., SPX Corporation, Balcke-Dürr GmbH, SPX Cooling Technologies, Inc., API Heat Transfer, and Vahterus Oy, among others.

The research report titled “Heat Exchangers: A Global Strategic Business Report”, announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections in US dollars for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Latin America, and Rest of World. Product Segments analyzed in the report include Shell & Tube Heat Exchangers, Plate & Frame Heat Exchangers (Gasketed PHE, Welded PHE, Brazed PHE, and Other PHE), Air Coolers, Cooling Towers, and Others. End-Use Sectors analyzed in the report include Chemicals Industry, Fuel Processing, HVAC & Refrigeration, Food & Beverage, Power Generation, and Others.

For more details about this comprehensive market research report, please visit
http://www.strategyr.com/Heat_Exchangers_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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  • Raghu Gopal
    Global Industry Analysts Inc
    +1 408-528-9966
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