China Heat Exchangers Market Size & Outlook, 2025-2033
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China heat exchangers market highlights
- The China heat exchangers market generated a revenue of USD 2,634.6 million in 2024 and is expected to reach USD 5,175.6 million by 2033.
- The China market is expected to grow at a CAGR of 8.1% from 2025 to 2033.
- In terms of segment, shell & tube was the largest revenue generating product in 2024.
- Plate & Frame is the most lucrative product segment registering the fastest growth during the forecast period.
Heat exchangers market data book summary
| Market revenue in 2024 | USD 2,634.6 million |
| Market revenue in 2033 | USD 5,175.6 million |
| Growth rate | 8.1% (CAGR from 2025 to 2033) |
| Largest segment | Shell & tube |
| Fastest growing segment | Plate & Frame |
| Historical data | 2021 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Plate & Frame, Shell & Tube, Air-cooled, Other Product |
| Key market players worldwide | Alfa Laval AB, Danfoss A/S, Kelvion, Xylem Inc, API Heat Transfer, Mersen SA, Hisaka Works, Chart Industries Inc, Johnson Controls International PLC, HRS Heat Exchangers, SPX Technologies Inc, Koch Industries, Southern Co, Güntner, FUNKE |
Other key industry trends
- In terms of revenue, China accounted for 11.3% of the global heat exchangers market in 2024.
- Country-wise, China is expected to lead the global market in terms of revenue in 2033.
- In Asia Pacific, China heat exchangers market is projected to lead the regional market in terms of revenue in 2033.
- India is the fastest growing regional market in Asia Pacific 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 |
China 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.
Shell & tube was the largest segment with a revenue share of 38.04% in 2024. Horizon Databook has segmented the China 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.
The economic growth in China is expected to be impacted by the deepening U.S.–China trade tensions as well as the recent outbreak of COVID-19. In its efforts to tackle this outbreak, China had locked down certain cities in the country and companies had temporarily shut down factories in the virus-affected regions, which had a short- to medium-term impact on the country's manufacturing output.
Although the Chinese economy has reopened, it is witnessing sluggish growth as the majority of the world's economies have just started lifting the lockdowns imposed to curb the spread of COVID-19. In addition, several chemical and petrochemical multinational companies are expected to open new manufacturing plants in China owing to the favorable government policies.
In July 2019, Sasol Limited, a South Africa-based chemical company, opened a new alkoxylation plant in Nanjing, China. This new plant is expected to double the company's alkoxylation production capacity in the region.
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Horizon Databook provides a detailed overview of country-level data and insights on the China heat exchangers market , including forecasts for subscribers. This country databook contains high-level insights into China heat exchangers market from 2021 to 2033, including revenue numbers, major trends, and company profiles.
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China heat exchangers market size, by product, 2021-2033 (US$M)
China Heat Exchangers Market Outlook Share, 2024 & 2033 (US$M)
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