Top Manufacturers in the Global Heat Exchanger Market

Top Manufacturers in the Global Heat Exchanger Market

The global heat exchanger market reached a value of US$ 18.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 29.1 Billion by 2032, exhibiting at a CAGR of 5% during 2024-2032. End users are currently seeking technological improvements that would reduce vibration-induced premature failures, especially in shell and tube heat exchangers. As a result, the leading companies are investing in research and development (R&D) projects to introduce energy-efficient heat exchangers. They are also optimizing the existing designs to increase energy efficiency and minimize the overall operating costs.

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List of Top Heat Exchanger Manufacturing Companies in the World:

Alfa Laval AB

Establishment: 1883
Headquarters: Sweden

Alfa Laval AB primarily manufactures heat transfer, separation and fluid handling products. The company serves the energy optimization, environmental protection, and food production industries. It is organized around three main product lines, including heat transfer (heat exchangers), fluid handling (pumps and valves) and separation (centrifuges). Its services and equipment help optimize processes such as heating, cooling, separating and transporting products (biofuels, chemicals, petrochemicals and pharmaceuticals).

API Heat Transfer, Inc.

Establishment: 1947
Headquarters: New York, United States

API Heat Transfer, Inc. offers air-cooled, plate, pre-engineered, shell, tube and thermal systems. The company manufactures power and marine boilers, pressure and non-pressure tanks, processing and storage vessels, heat exchangers, weldments and similar products.


Establishment: 1933
Headquarters: Denmark

Danfoss primarily manufactures mechanical and electronic components for different equipment, which are utilized in a variety of sectors. The company's major power solution unit that makes hydraulic systems and electronic controls to power off-highway vehicles, holds more than a third of the revenues. Its other divisions are refrigeration and air-conditioning equipment, heating equipment and commercial compressors.

General Electric Company

Establishment: 1892
Headquarters: United States

General Electric Company offers products and services, including aircraft engines, power generation, water processing and household appliances, to medical imaging, business and consumer financing, and industrial products. Its power segment serves power generation, industrial, government and other customers around the world with products and services related to energy production.

Hisaka Works, Ltd.

Establishment: 1942
Headquarters: Osaka, Japan

Hisaka Works, Ltd. is majorly engaged in the manufacturing of power and marine boilers, pressure and non-pressure tanks, processing and storage vessels, heat exchangers, weldments and similar products. The company manufactures these products by cutting, forming and joining metal plates, shapes, bars, sheet, pipe mill products and tubing to custom or standard design for factory or field assembly.

IHI Corporation

Establishment: 1960
Headquarters: Tokyo, Japan

IHI Corporation is known for constructing several long suspension bridges around the world. The company mainly provides items for energy and resources (boilers, engines, gas turbines, nuclear power plant parts, radioactive waste management) and aero engine and space (jet engines, rocket and satellite systems).

Johnson Controls International PLC

Establishment: 1885
Headquarters: United States

Johnson Controls International PLC manufactures, installs, and services energy-efficient heating, ventilation, and air conditioning (HVAC) systems. The company provides fire detection and suppression and security measures, such as electronic card site access. Its industrial refrigeration solution offers industrial plate heat exchangers, which are designed for use with ammonia, halocarbon, and hydrocarbon refrigerants.

Kelvion Holding GmbH

Establishment: 1920
Headquarters: Germany

Kelvion Holding GmbH is a manufacturer of heat exchangers and provides solutions for almost every industrial application. The company primarily deals in the development, manufacturing, distribution of and trade with heat exchangers, air filtration systems, plastic filling media, aeration and ventilation solutions.

Koch Industries, Inc.

Establishment: 1940
Headquarters: Kansas, United States

Koch Industries, Inc. has numerous companies such as Koch Engineered Solutions, Koch Ag & Energy Solutions, Koch Minerals and many more. Amongst these, Koch Engineered Solutions provides heat exchangers and products, including double pipe and multitube heat exchangers, tank heaters, twisted tube heat exchanger technology, shell and tube heat exchanger, and enhancement devices.

Boyd Corporation

Establishment: 1928
Headquarters: United States

Boyd Corporation offers advanced sealing, thermal management and protection solutions. The company also provides bonding, adhesive system, extrusions, gaskets seals, air, conduction, liquid cooling and related accessories.

Mersen SA

Establishment: 1891
Headquarters: France

Mersen SA designs innovative solutions to optimize manufacturing performance in energy, transportation, electronics, chemicals, pharmaceuticals and process industries. The company provides carbon and graphite products and makes permanent magnets (ferrite magnets) for vehicles and electrical protection fuses and products for thermal, corrosion-resistant applications, such as graphite machined blocks and composite materials for brakes.

Modine Manufacturing Company

Establishment: 1916
Headquarters: United States

Modine Manufacturing Company designs and manufactures highly engineered heat transfer systems and components for a range of customers across the globe. The company operates in around 15 countries and has technical centers in the US, Germany, and Italy.

Royal Hydraulics, Inc.

Establishment: 1982
Headquarters: California, United States

Royal Hydraulics, Inc. supplies systems and hydraulic equipment line to fulfill the system elements either of their designs or customers.

Xylem, Inc.

Establishment: 2011
Headquarters: United States

Xylem, Inc. is a designer, manufacturer, equipment and service provider for water and wastewater applications addressing the full-cycle of water from collection, distribution, and use to the return of water to the environment. The Company's products include water and wastewater pumps, treatment and testing equipment, industrial pumps, valves, heat exchangers, and dispensing equipment.


About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the global heat exchanger market and regional Aisa Pacific, Europe, India, Latin America, United States, which has enabled the clients to set up and expand their businesses successfully. Some of the company’s offerings include:

  • Market Research
  • Plant setup
  • Plant Expansion
  • Marketing and sales
  • Procurement and Distribution
  • Innovation and Product Development

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