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

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

Report Format: PDF+Excel | Report ID: SR112023A3323
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Market Overview:

The India heat exchanger market size reached US$ 758 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,138 Million by 2028, exhibiting a growth rate (CAGR) of 6.7% during 2023-2028.

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.

 

 
 

 

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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.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the India heat exchanger market report, along with forecasts at the country and regional 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 Region:

  • North India
  • West and Central India
  • South India
  • East India
     

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$ Million
Segment Coverage Type, Material, End Use Industry, Region
Region Covered North India, West and Central India, South India, East India
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
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 India heat exchanger market was valued at US$ 758 Million in 2022.

We expect the India heat exchanger market to exhibit a CAGR of 6.7% during 2023-2028.

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

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation, resulting in the temporary closure of numerous manufacturing units for heat exchangers.

Based on the type, the India heat exchanger market can be segmented into shell & tube, plate & frame, air cooled, and others. Currently, shell & tube holds the majority of the total market share.

Based on the material, the India heat exchanger market has been divided into carbon steel, stainless steel, nickel, and others. Among these, stainless steel currently exhibits a clear dominance in the market.

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

On a regional level, the market has been classified into North India, West and Central India, South India, and East India, where South India currently dominates the India heat exchanger market.

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