Which factors are impelling global heat exchanger market size?
Publisher : Fractovia | Published Date : 2019-10-04Request Sample
Robust growth of industrial sector coupled with shifting focus toward energy optimization will drive global heat exchanger market outlook over the forecast duration. Deployment of waste heat recovery system (WHRS) across many industries is becoming more common than before, owing energy optimization requirements.
Also, the implementation of stringent government regulation to minimize carbon emissions will additionally support product deployment across number of industries. Currently, heat exchangers are increasingly used in industries like power generation, refinery, chemical, petroleum, and food & beverage. According to a report by Global Market Insights, Inc, heat exchanger market size will exceed USD 13 billion by 2019-2025.
Which are the factors promoting Middle East & Africa heat exchanger market growth?
Middle East & Africa heat exchanger market is expected to witness gains over 7% by the end of 2025, owing to the rapid industrialization in the region. The increasing development of industries is supported by the growing investments from financial institutions like the African Development Bank.
Additionally, the burgeoning economic growth of the region will also help to stimulate business expansion. For instance, oil & gas sector across the region has provided immense economic growth over many decades. Such factors have stimulated the manufacturing units which will further strengthen the product adoption in coming years.
How will expansion of manufacturing sector influence Asia Pacific heat exchanger market size?
Asia Pacific heat exchanger market shows strong growth potentials on account of the rapidly expanding manufacturing sector. Also, government plans toward advancement of power generation facilities to adhere to stringent environmental regulations will further boost installation of these systems. As per estimates of IBEF, India’s power sector witnessed FDI inflows over USD 14 billion between April 2000 and December 2018.
What will impel China heat exchanger industry share over 2019-2025?
The industrial expansion in China is favored by increasing government investments toward development of manufacturing facilities in the region. Emerging as the global manufacturing hub, China accounts for over 40% of the global manufacturing value. Further expansion of the existing manufacturing units along with surging investment in chemical, metallurgy, and oil & gas sector will enormously propel heat exchanger market share of the region.
