Mexico Heat Exchangers Market Size & Outlook, 2025-2033
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Mexico heat exchangers market highlights
- The Mexico heat exchangers market generated a revenue of USD 367.5 million in 2024 and is expected to reach USD 654.6 million by 2033.
- The Mexico market is expected to grow at a CAGR of 6.8% 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 367.5 million |
| Market revenue in 2033 | USD 654.6 million |
| Growth rate | 6.8% (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, Mexico accounted for 1.6% 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 North America, U.S. heat exchangers market is projected to lead the regional market in terms of revenue in 2033.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 654.6 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 |
Mexico 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 37.31% in 2024. Horizon Databook has segmented the Mexico 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.
Mexico is a geographically critical location for outsourcing production activities as it is adjacent to the U.S., which is one of the major export destinations for component manufacturers. Furthermore, ease of doing business, geographical proximity, and supply source for distributors & retailers make the country one of the most preferred locations for manufacturers.
Increasing investments from multinational players in the Mexican market are expected to drive the growth of manufacturing sector of the country, thereby augmenting the growth of the Mexico heat exchangers market. Mexico has implemented the IMMEX program, which provides a tax incentive to companies involved in manufacturing and exporting goods.
In addition, to avail this incentive, the companies are required to export a significant part of the produced goods. Furthermore, the IMMEX program benefits in terms of a streamlined process for company information, lower income tax rate, and can avail the service of low-wage Mexican workers.
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Our clientele includes a mix of heat exchangers market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico heat exchangers market , including forecasts for subscribers. This country databook contains high-level insights into Mexico heat exchangers market from 2021 to 2033, including revenue numbers, major trends, and company profiles.
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Mexico heat exchangers market size, by product, 2021-2033 (US$M)
Mexico Heat Exchangers Market Outlook Share, 2024 & 2033 (US$M)
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