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The carbon steel heat exchangers extensively being utilised in chemicals, HVAC and refrigeration, food and drinks, petrochemical, power generation, pulp and paper, and other sectors. In terms of heat transmission and energy saving, this heat exchanger is a significant device or technology. It's an energy transfer equipment that goes along with two or more process fluids. Carbon steel heat exchangers have been created for a variety of household and industrial used in steam power plants.
The carbon steel heat exchangers market is expected see significant major to growth. Power generation projects are expected to dominate the carbon & Steel heat exchanger market throughout the projected period due to the steady rise of energy consumption. Additionally, the growing industrialization and urbanization in emerging nations like China and India need greater electricity generation which will further drive the carbon steel heat exchanger market. Market players are likely to compete as a result of technological developments and measures taken to improve the heat transfer efficiency of the exchangers. Over the projected period, leading players are likely to grow their market share via continuous investments in research and development and product innovation.
This heat exchanger are divided into shell and tube heat exchanger, plate heat exchanger & air cooled heat exchanger. Out of them, the shell and tube heat exchanger segment is leading & is predominantly known by the increase in the demand for carbon & steel heat exchangers for various applications in end-use industries such as oil and gas, power generation & chemical. Whereas, the demand for plate and frame heat exchangers (PFHE) is projected to increase due to rising need for effective thermal management systems with reduced space requirements. Additionally, In terms of performance features the welded plate heat exchanger is projected to expand rapidly due to its increasing application in many sectors such as car, pharmaceuticals, petrochemical, and paper production. Furthermore, air-cooled heat exchanger is expected grow due to the increase in the usage of air-cooled heat exchangers (ACHE) in chemicals, oil and gas & automobiles industries.
Key Market Driver -
• Rise In Preference for Heat Exchangers In Oil & Gas Industries.
Key Market Restraint -
• Difficulty In Cleaning And Maintenance Owing To The Complex Designs Of Heat Exchangers
The major players covered in the Carbon Steel Heat Exchanger market report are Alfa Laval, Kelvion (GEA), SPX, IHI, Danfoss (Sondex), DOOSAN, API, KNM, Funke, Xylem, Thermowave, Hisaka, SWEP, LARSEN and TOUBRO, Accessen, THT, Hitachi Zosen, LANPEC, Siping ViEX, Beichen, Lanzhou LS, Defon, Ormandy, FL-HTEP & others.
North America is anticipated to witness strong growth over forecast period owing to the growth in oil and gas E&P activities in the Canada & U.S. along with increasing energy demand in various industrial and commercial. In the addition, the US government and corporations have invested substantially in increasing crude oil production, which is expected to boost demand for heat exchangers in the oil and gas industry. However, due to the complicated designs of heat exchangers such as tubular heat exchangers, cleaning and maintenance become more difficult when scaling and corrosion problems occur. This issue is expected to stifle the market for heat exchangers.
Europe is expected to exhibit substantial growth in near future. In the addition, due to the increasing trend of basic chemical consumption in several end-use industries in Germany, France, Italy, and the U.K is furthermore contributing in the market growth. Furthermore, rising expense on the refrigeration & HVAC industry in the region is likely to boost the market.
Furthermore, Asia Pacific is projected to witness the highest CAGR in the forecast period. The rising demand for energy in Asia is largely attributable to increased building activities, as well as the growth of the chemical and power generating sectors, which are likely to drive the market. Furthermore, this region is likely to dominate the market because of the several power projects under construction in India & China.
Middle East and Africa is expected to show major growth. Global events such as Expo 2020 in Dubai and the FIFA World Cup in Qatar in 2022 are predicted to boost industrial growth during forecast period. Furthermore, the demand for heat exchangers in the area is likely to be driven by concentrated solar power (CSP) projects in countries such as Egypt, Morocco & South Africa.
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