According to the latest report by IMARC Group, titled “Asia Pacific Heat Exchanger Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the heat exchanger market size Asia Pacific reached a strong growth in 2020. Heat exchangers refer to devices that are designed to transfer heat from one liquid to another and control the temperature of a substance or a system. It includes streams of hot and cold fluids, which are used to transfer thermal energy among the streams. These devices assist in heating or cooling buildings and enable the efficient functioning of machines and engines. As a result, heat exchangers are widely adopted in sewage treatment, boilers, refrigerators, furnaces, automotive radiators, air conditioning systems, etc., across the Asia Pacific region.
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The growing population and rapid urbanization are positively fueling the need for power consumption. This is primarily strengthening the market for heat exchangers across the Asia Pacific region. Moreover, the escalating demand for heat, ventilation and air-conditioning (HVAC) from residential, commercial and industrial sectors is also augmenting the market growth. Furthermore, due to rising environmental concerns, several government bodies across Asia Pacific countries have imposed stringent policies to reduce carbon emissions across various industries. This, in turn, is creating a proliferating demand for energy energy-efficient and environmental-friendly devices. Besides this, numerous players are increasingly investing in various R&D projects to introduce cost-effective and efficient product variants, which are anticipated to further propel the market growth in the Asia Pacific region over the forecasted period. Looking forward, the market is expected to continue its moderate growth during the forecast period (2021-2026).
Breakup by Type:
- Shell & Tube
- Plate & Frame
- Air Cooled
- Others
Breakup by Material:
- Carbon Steel
- Stainless Steel
- Nickel
- Others
Breakup by End Use Industry:
- Chemical
- Petrochemical and Oil & Gas
- HVAC and Refrigeration
- Food & Beverage
- Power Generation
- Paper & Pulp
- Others
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Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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