Heat Exchanger Market size is expected to reach USD 26.78 billion by 2030
Heat Exchanger Industry Overview The global heat exchanger market size was estimated at USD 17.38 billion in 2021 and is expected to witness a compounded annual growth rate (CAGR) of 5.1% from 2022 to 2030. The rising focus on efficient thermal management in various industries, including oil & gas, power generation, chemical & petrochemical, food & beverage, and HVAC & refrigeration, is expected to drive the demand for heat exchangers during the forecast period. Gather more insights about the market drivers, restrains and growth of the Global Heat Exchanger Market Rising demand from the chemical industry coupled with increasing technological advancements and a growing focus on improving efficiency standards is expected to drive the market over the coming years. Most processes in petrochemical facilities involve high pressure and temperature, thus, necessitating the optimization of heat transfer and the enhancement of energy savings, wh...