With mainstay segments flaunting a broad base, the highly mature global heat exchangers market is set to thrive on replacement demand emerging from frequent upgrades and technology attunements. On the end-use front, the industry is witnessing a rapid shuffling of shares with emerging applications in environmental remediation, propped by tightening legislation, increasingly outnumbering the traditional applications within chemical, fuel processing, and power generation sectors.
San Jose, California (PRWEB) July 23, 2007 -- World Heat Exchangers market is poised for a modest growth with a CAGR of 1.66% over 2000-2010 to reach about US$10.49 billion by 2010. Europe, the largest market for heat exchangers with a share estimated at 36.66% in 2006, is also slated to be the fastest growing with a CAGR of 2.32% over the aforementioned period as stated by Global Industry Analysts, Inc.
In terms of product segment, Shell and Tube Heat Exchangers market, with an estimated 2006 share of 29.54%, forms the largest segment, while Plate and Frame Exchangers market, with a CAGR of 3.25% over 2000-2010, forms the fastest growing segment. Other major segments analyzed include Air Coolers market, Cooling Towers market and Other Heat Exchangers market.
Chemical industry, with an estimated share of about 22% in 2006, forms the largest demand sector for heat exchangers, while HVAC and Refrigeration industry is forecast to be the fastest growing end use sector for heat exchangers with a CAGR of 2.23% over 2000-2010. Other end use sectors independently analyzed include Fuel Processing, Food and Beverage, Power Generation and Other End Use Applications.
Rising energy prices are expected to be among the major drivers of heat exchanger market growth in the near future. The rising energy prices have necessitated better utilization of energy. This holds true particularly for the process and HVAC&R applications, as efficient heat exchangers would result in saving on energy costs. Heat recovery systems are also expected to derive growth from higher energy costs as well as regulatory pressure on industries for more efficient use of energy.
Replacement sales are expected to drive growth of heat exchangers to HVAC&R industry in North America and Europe. Many governments in Europe have banned the use of chloro-fluro carbons (CFC) systems and are promoting HFCs as an alternative. As a result, the HVAC&R industry is expected to register demand for new systems in the near future leading to growth of heat exchange sales to the HVAC&R industry.
Major players covered in the report titled "Heat Exchangers: A Global Strategic Report" by Global Industry Analysts, Inc. include Alfa Laval AB, American Precision Industries Heat Transfer, Balcke-Dürr GmbH, Bell & Gossett, Inc., GEA Group Aktiengesellschaft, Hamon Group, Hisaka Works, Ltd., Invensys APV, Modine Manufacturing Company and Sondex, A/S.
For more details about this research report, please visit www.strategyR.com/MCP-1159.asp.
About Global Industry Analysts, Inc.:
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
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Web Site www.StrategyR.com
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