The global welded spiral heat exchangers market size was valued at USD 1.4 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 4.0% from 2019 to 2025. The market is expected to be driven by the growing demand for the product in petrochemicals, HVAC & refrigeration, food & beverages, and chemical industries, especially in the emerging economies of Asia Pacific and CSA.
Welded spiral heat exchangers are made by rolling two metal sheets around the central rod, thus forming two separate concentric channels. The end of the channel is sealed by welding. This provides an advantage to welded spiral heat exchangers over conventional heat exchangers as fluids are exposed to a much larger surface area. They also provide much higher thermal performance compared to conventional heat exchangers. Welded spiral heat exchanger is ideal for dangerous and aggressive fluids as leakage is practically excluded owing to welded channel construction.
Welded spiral heat exchangers are widely used in industries such as chemicals, food & beverages, HVAC & refrigeration, petrochemical, power generation, and pulp & paper. In addition, rising demand from the chemical industry, technological innovation, and increasing focus on improving efficiency standards are further expected to drive the growth of the market over the forecast period.
The U.S. market witnessed considerable growth on account of the growing adoption of welded spiral heat exchangers in chemical, petrochemical, food & beverages, and pulp & paper industries. Growing chemical industry in the region is anticipated to lead to increased product demand over the forecast period. Increasing refinery capacities and the establishment of new chemical plants in the country are further expected to drive the growth of the market over the forecast period.
Major players are focusing more on the economies of scope than on the economies of scale as welded spiral heat exchangers can be used for multiple applications across various end-use industries. Therefore, new product developments and extensive marketing activities play a significant role in aiding market players gain a competitive edge.
Based on end-use, welded spiral heat exchangers market has been segmented into chemical, food & beverages, HVAC & refrigeration, petrochemicals, power generation, pulp & paper, and others. Food & beverages end-use segment is likely to be the fastest-growing segment and is expected to ascend at a CAGR of 5.0% over the forecast period. Welded spiral heat exchangers offer self-cleaning features owing to their single-channel design. This contributes to handling high viscosity media, especially in the food & beverages and pulp & paper industries.
HVAC & refrigeration end-use segment dominated the market in 2018 and held a share of 20.2% in the overall market. These heat exchangers offer high thermal efficiency as compared to shell & tube heat exchangers. Moreover, they have a small footprint and are easy to access during maintenance and cleaning. Such benefits offered by welded spiral type of heat exchangers are expected to drive their demand over the forecast period.
Fertilizers, inorganic chemicals, and basic chemicals are the major products in chemical industry. Chemical reactions often lead to the deposition of undesired material on the surface of heat exchangers, resulting in an opportunity cost involved in the cleaning process. Welded spiral heat exchangers are a solution to this problem. Their single-channel design leads to high shear rates, thus contributing to the self-cleaning effect.
Asia Pacific accounted for 37.6% of the overall market in 2018. It is expected to be the largest regional market and expected to witness a significant growth rate of 5.2% from 2019 to 2025. Surging demand for petrochemical derivatives in various end-use industries such as plastics and packaging is expected to drive the chemical industry, which, in turn, is projected to drive the market in the region over the forecast period.
Europe accounted for 28.4% of the overall market share in 2018. It is expected to be the second-largest regional market over the forecast period owing to the rising construction and automobile industries.Increasing use of welded plate heat exchangers in refineries and chemical industries owing to strict government regulations is expected to drive the market over the forecast period
CSA and the MEA are expected to exhibit a growth rate of 6.3% and 2.9%, respectively, over the forecast period. Increasing requirement for heat recovery applications in the chemical, HVAC, and food & beverage sector is expected to drive the demand for welded spiral heat exchangers over the forecast period.
The market comprises both global as well as regional players that are engaged in the designing, manufacturing, and distribution of welded spiral heat exchangers. Overall, the market is highly competitive and dependent on technological advancements and product developments. Market players strive to achieve application development to gain a competitive advantage over their competitors. Presence of local players in Asia Pacific poses a significant threat to the large multinational companies in terms of product quality and prices offered to the customers. Some of the prominent players in the welded spiral heat exchangers market include:
Alfa Laval AB
Gooch Thermal Systems, Inc.
Kurose Chemical Equipment Co., Ltd.
Shanghai Shenglin M&E Technology Co., Ltd.
Market size value in 2020
USD 1.51 billion
Revenue forecast in 2025
USD 1.84 billion
CAGR of 4.0% from 2019 to 2025
Base year for estimation
2014 - 2017
2019 - 2025
Revenue in USD million and CAGR from 2019 to 2025
Revenue forecast, company share, competitive landscape, growth factors and trends
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa
U.S.; Canada; Germany; France; Italy; China; Japan; India; Brazil; UAE
Key companies profiled
Alfa Laval AB; Danfoss A/S; Gooch Thermal Systems, Inc.; Nexson Group; Elanco, Inc.; Kurose Chemical Equipment Co., Ltd.; Shanghai Shenglin M&E Technology Co., Ltd.; SmartHeat Inc.
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs. Explore purchase options
This report forecasts revenue growth at global, regional, and country levels, and provides an analysis on the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global welded spiral heat exchangers market report on the basis of end-use and region.
End-Use Outlook (Revenue, USD Million, 2014 - 2025)
Food & Beverages
HVAC & Refrigeration
Pulp & Paper
Regional Outlook (Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East and Africa
b. The global welded spiral heat exchangers market size was estimated at USD 1.46 billion in 2019 and is expected to reach USD 1.51 billion in 2020.
b. The global welded spiral heat exchangers market is expected to grow at a compound annual growth rate of 4.0% from 2019 to 2025 to reach USD 1.84 billion by 2025.
b. Asia Pacific dominated the welded spiral heat exchangers market with a share of 38.3% in 2019. This is attributable to growing construction projects in industrial and commercial establishments and favorable government initiatives in India and Japan to develop thermal and solar energy.
b. Some key players operating in the welded spiral heat exchangers market include Alfa Laval AB, Danfoss A/S, Gooch Thermal Systems, Inc.; Nexson Group; Elanco, Inc.; Kurose Chemical Equipment Co., Ltd.; Shanghai Shenglin M&E Technology Co., Ltd., and SmartHeat Inc.
b. Key factors that are driving the market growth include growing demand for the product in petrochemicals, HVAC & refrigeration, food & beverages, and chemical industries.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now
"The quality of research they have done for us has been excellent."