Heat Exchangers Market to Witness Stellar CAGR During the Forecast Period
Posted by Jason Lee on March 20th, 2020
Facto Market Insights has actively discoursed a new study titled heat exchangers market, added to its vast online repository. The primary motive of this study is to impart vital details associated to development of the heat exchangers market. The assessment includes brief knowledge about market size, Y-o-Y growth, market dynamics and competitive scenario expected to transform in the near future. The inclusion of market dynamics, market size, revenue share, forecast growth etc., makes this assessment a rich data source for investors, shareholders and new entrants.
The global heat exchangers market accounted for ,624.0 million in 2018, and is anticipated to reach ,316.0 million by 2026, registering a CAGR of 7.2% from 2019 to 2026. Heat exchangers are devices designed to transfer heat between two or more fluids and between a solid surface and fluids at different temperatures.
Heat exchangers are highly labor-intensive to produce, which is attributed to the long welding hours that are required. The different types of heat exchangers products and dimensions reduce manufacturing efficiency. This is one of the major reasons production is increasingly being shifted to developing countries owing to availability of cheap labor. Only the standard products are manufactured in developing countries as of now; however, in future, custom-made heat exchangers are anticipated to be produced in developing countries such as India, and China. However, high cost of raw materials used for manufacture of shell & tube heat exchangers is expected to inhibit the growth to some extent.
For Full Report with TOC Click @ https://www.factomarketinsights.com/report/354/heat-exchangers-market-amr
The global heat exchangers market is segmented based on type, end-user industry, material of construction, and region. Depending on type, the market is categorized into shell & tube, plate & frame, air-cooled, microchannel, and others. On the basis of end-user industry, it is classified into chemical, petrochemical, oil & gas, HVACR, food & beverage, power generation, others. The materials of construction covered in the study include carbon steel, stainless steel, nickel, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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About the AuthorJason Lee
Joined: September 20th, 2019
Articles Posted: 305
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