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The Asia Pacific heat exchanger market was valued at US$ 4.5 Billion in 2021.
We expect the Asia Pacific heat exchanger market to exhibit a CAGR of 5.15% during 2022-2027.
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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