What is the breakup of the Asia Pacific heat exchanger market based on the type?

Based on the type, the Asia Pacific heat exchanger market can be divided into shell & tube, plate & frame, air cooled, and others. Currently, shell & tube exhibits a clear dominance in the market.

What is the breakup of the Asia Pacific heat exchanger market based on the end use industry?

Based on the end use industry, the Asia Pacific heat exchanger market can be segmented into chemical, petrochemical and oil & gas, HVAC and refrigeration, food & beverage, power generation, paper & pulp, and others. Currently, the chemical industry represents the largest market share.

Asia Pacific Heat Exchanger Market Share, Size, 2023-2028

Asia Pacific Heat Exchanger Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A3320

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Market Overview:

The Asia Pacific heat exchanger market size reached US$ 4.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.

Heat exchangers are designed to transfer heat from one liquid to another and control the temperature of a system. These devices help to heat or cool buildings and enable the efficient performance of engines and machines. As compared to the conventional methods of cooling, heat exchangers use less energy and produce less pollution. Therefore, they find extensive application in sewage treatment, boilers, refrigerators, furnaces and air conditioning systems across the Asia Pacific region.

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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The rising population and rapid urbanization are positively fueling the need for power consumption. This represents one of the primary factors strengthening the heat exchangers market growth in the Asia Pacific. In addition to this, the installation of new power units has resulted in the increasing adoption of heat exchangers across the region. Moreover, the key market players are investing in research and development (R&D) projects to introduce an efficient upgrade for conventional heat exchangers. However, the coronavirus disease (COVID-19) outbreak and lockdown restrictions imposed by governments of several countries have led to temporary closures of manufacturing units across the Asia Pacific. This has severely affected the market growth, but it will witness growth once lockdown restrictions are uplifted.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific heat exchanger market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on type, material and end use industry.

Breakup by Type:

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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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

Breakup by Country:

China
Japan
India
South Korea
Australia
Indonesia
Others

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Type, Material, End Use Industry, Country
Countries Covered	China, Japan, India, South Korea, Australia, Indonesia, Others
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The Asia Pacific heat exchanger market was valued at US$ 4.8 Billion in 2022.

We expect the Asia Pacific heat exchanger market to exhibit a CAGR of 5.1% during 2023-2028.

The extensive utilization of heat exchangers in boilers, furnaces, refrigerators, automotive radiators, sewage treatment, etc., is currently driving the Asia Pacific heat exchanger market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several Asia Pacific nations resulting in temporary closure of numerous manufacturing units for heat exchanger.

Based on the type, the Asia Pacific heat exchanger market can be divided into shell & tube, plate & frame, air cooled, and others. Currently, shell & tube exhibits a clear dominance in the market.

Based on the material, the Asia Pacific heat exchanger market has been bifurcated into carbon steel, stainless steel, nickel, and others. Among these, stainless steel currently holds the majority of the total market share.

Based on the end use industry, the Asia Pacific heat exchanger market can be segmented into
chemical, petrochemical and oil & gas, HVAC and refrigeration, food & beverage, power generation, paper & pulp, and others. Currently, the chemical industry represents the largest market share.

On a regional level, the market has been classified into China, Japan, India, South Korea, Australia, Indonesia, and others, where China currently dominates the market.

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