Global Heat Exchangers Market Size & Outlook, 2025-2033
Global heat exchangers market, 2021-2033 (US$M)
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Global heat exchangers market highlights
- The global heat exchangers market generated a revenue of USD 23,327.5 million in 2024 and is expected to reach USD 39,960.4 million by 2033.
- The market is expected to grow at a CAGR (2025 - 2033) of 6.4% by 2033.
- In terms of segment, plate & frame accounted for a revenue of USD 10,932.3 million in 2024.
- Air-cooled is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Europe was the largest revenue generating market in 2024.
- Country-wise, India is expected to register the highest CAGR from 2025 to 2033.
Global data book summary
| Market revenue in 2024 | USD 23,327.5 million |
| Market revenue in 2033 | USD 39,960.4 million |
| Growth rate | 6.4% (CAGR from 2025 to 2033) |
| Largest segment | Plate & frame |
| Fastest growing segment | Air-cooled |
| Historical data covered | 2021 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Plate & Frame, Shell & Tube, Air-cooled, Other Product |
Other key industry trends
- In terms of revenue, the North America accounted for 16.8% of the global heat exchangers market in 2024.
- By country, the China is projected to lead the global market in terms of revenue in 2033.
- By country, India is the fastest growing regional market and is projected to reach USD 2,856.3 million by 2033.
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Heat Exchangers Market Scope
Heat Exchangers Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| FUNKE | View profile | 251-500 | Gronau, Niedersachsen, Germany, Europe | https://funke.de |
| Güntner | View profile | 1001-5000 | Fürstenfeldbruck, Bayern, Germany, Europe | https://www.guentner.com |
| SPX Technologies Inc | View profile | 4100 | 6325 Ardrey Kell Road, Suite 400, Charlotte, NC, United States, 28277 | https://www.spx.com |
| HRS Heat Exchangers | View profile | 101-250 | Watford, Hertford, United Kingdom, Europe | https://www.hrs-heatexchangers.com/ |
| Koch Industries | View profile | 10001+ | Wichita, Kansas, United States, North America | https://www.kochind.com |
| API Heat Transfer | View profile | 1001-5000 | Buffalo, New York, United States, North America | http://www.apiheattransfer.com |
| Kelvion | View profile | 11-50 | Bochum, Nordrhein-Westfalen, Germany, Europe | https://www.kelvion.com/ |
| Danfoss A/S | View profile | 10001+ | Nordborg, Syddanmark, Denmark, Europe | https://www.danfoss.com |
| Hisaka Works | View profile | 501-1000 | Osaka-shi, Osaka, Japan, Asia | https://www.hisaka.co.jp/ |
| Chart Industries Inc | View profile | 11637 | 2200 Airport Industrial Drive, Suite 100, Ball Ground, GA, United States, 30107 | https://www.chartindustries.com |
| Mersen SA | View profile | 7534 | Tour Trinity, 1 bis place de la Defense, Courbevoie, France, 92400 | https://www.mersen.com |
| Southern Co | View profile | 28100 | 30 Ivan Allen Jr. Boulevard, Northwest, Atlanta, GA, United States, 30308 | https://www.southerncompany.com |
| Xylem Inc | View profile | 23000 | 300 Water Street SE, Washington, DC, United States, 20003 | https://www.xylem.com |
| Alfa Laval AB | View profile | 21441 | Rudeboksvagen 1, P.O. Box 73, Lund, Sweden, SE-221 00 | https://www.alfalaval.com |
| Johnson Controls International PLC | View profile | 102000 | One Albert Quay, Cork, Ireland, T12 X8N6 | https://www.johnsoncontrols.com |
Global heat exchangers market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to heat exchangers market will help companies and investors design strategic landscapes.
Plate & frame was the largest segment with a revenue share of 46.86% in 2024. Horizon Databook has segmented the Global heat exchangers market based on plate & frame, shell & tube, air-cooled, other product covering the revenue growth of each sub-segment from 2021 to 2033.
- Global Heat Exchangers Product Outlook (Revenue, USD Million, 2021-2033)
- Plate & Frame
- Brazed
- Gasketed
- Welded
- Other Plate & Frame
- Shell & Tube
- Air-cooled
- Other Product
- Plate & Frame
- Global Heat Exchangers Material Outlook (Revenue, USD Million, 2021-2033)
- Metals
- Alloys
- Other Material
- Global Heat Exchangers End Use Outlook (Revenue, USD Million, 2021-2033)
- Chemical & Petrochemical
- Oil & Gas
- HVAC & refrigeration
- Power Generation
- Food & Beverage
- Pulp & Paper
- Other End Use
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Horizon Databook provides a detailed overview of global-level data and insights on the Global heat exchangers market , including forecasts for subscribers. This global databook contains high-level insights into Global heat exchangers market from 2021 to 2033, including revenue numbers, major trends, and company profiles.
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Global heat exchangers market size, by regions, 2021-2033 (US$M)
Top 10 countries: Heat exchangers market size, 2024 (US$M)
Global heat exchangers market share, by product, 2024 & 2033 (%, US$M)
Heat exchangers market: Opportunity assessment by country
Global heat exchangers market, by region, 2024 (US$M)
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