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The India heat exchanger market is currently witnessing moderate growth. Heat exchangers are devices employed for transferring heat from one fluid to another and controlling the temperature of a system. They consume less energy and produce significantly less pollution as compared to conventional cooling methods. Consequently, they are gaining wide popularity across India.
The growing population, coupled with rapid urbanization, is escalating the demand for power. This represents one of the primary factors strengthening the growth of the heat exchangers market in India. Apart from this, the increasing adoption of heat exchangers in the installation of new power units represents another growth-inducing factor. Furthermore, the burgeoning chemical and petrochemical sectors, along with the upgradation of conventional heat exchangers with efficient and innovative variants, are driving the market. However, the coronavirus disease (COVID-19) outbreak and the imposition of lockdown restrictions have resulted in temporary closures of operations at several manufacturing units. This severely affected the market growth, but it is anticipated to witness recovery once the Government of India uplifts lockdown restrictions. 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 India 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.
Breakup by Type:
Breakup by Material:
Breakup by End Use Industry:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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