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The Europe heat exchanger market is currently witnessing moderate growth. Heat exchangers are devices used for transferring heat from one liquid to another. These devices enable the efficient functioning of engines and machines and find extensive application in the heating or cooling of buildings. As compared to conventional cooling methods, heat exchangers use less energy and generate significantly less pollution. As a result, they are widely utilized in air conditioning systems, sewage treatment, automotive radiators, furnaces, boilers and refrigerators.
Significant growth of the regional industrial infrastructure, in confluence with the introduction of stringent regulations by the European Commission to minimize carbon emissions from several industries, represents one of the key factors bolstering the market growth. Besides this, heat exchangers can be operated at minimal costs as they do not require heavy maintenance, which is also positively influencing their overall sales. Additionally, the increasing availability of hybrid heat exchangers that combine the benefits of both the shell-and-tube and plate heat exchangers, particularly across the offshore power generation units, is catalyzing the demand further. However, the coronavirus disease (COVID-19) outbreak and the imposition of lockdown restrictions by governing agencies of different countries in Europe have negatively impacted operations at various manufacturing units. The market is anticipated to recover once lockdown restrictions are uplifted. Looking forward, the market is expected to continue its moderate growth during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the Europe heat exchanger market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, type, material and end use industry.
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The competitive landscape of the industry has also been examined along with the profiles of the key players.
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