Product Code: BMIRE00029744
The Asia Pacific heat exchanger market was valued at US$ 4,571.91 million in 2022 and is expected to reach US$ 9,229.76 million by 2030; it is estimated to grow at a CAGR of 9.2% from 2022 to 2030.
Integration of 3D Printing Technology with Heat Exchangers Fuel the Asia Pacific Heat Exchanger Market
3D printing or additive manufacturing is the development of a three-dimensional object from a digital file. The demand for 3D printing solutions is rising owing to advantages such as flexible design, rapid prototyping, print of demand, lightweight and robust parts, faster design and customized production, minimum waste, cost-effectiveness, and environment friendly. In addition, the rising awareness worldwide to use environment-friendly solutions and associated GHG emissions are encouraging heat exchanger providers to use this advancing technology to produce new products to meet the demand from various end user applications. The growing need for efficient heat exchangers in crucial applications such as power generation systems, consumer electronics, and food and beverage manufacturing facilities contribute to the adoption of 3D printing technology. Thus, the integration of 3D printing technology with heat exchangers is likely to create opportunities for market players to meet the growing demand from various end user applications during the forecast period.
Asia Pacific Heat Exchanger Market Overview
The Asia Pacific heat exchanger market is categorized into Australia, China, Japan, India, South Korea, Malaysia, Taiwan, and the Rest of Asia Pacific. The growing market is prominently attributed to the expansion of LNG imports led by China and India. Furthermore, the rising investment in the oil & gas industry will propel oil and gas production. As per the Shell LNG Outlook 2021, the LNG demand across the globe is expected to reach 700 million tons by 2040, and the natural gas demand is expected to grow strongly in Asia Pacific countries, generating the demand for gas production. With the rise in population and industrial growth, Asia Pacific witnessed increased energy demand. For instance, according to IEA, Southeast Asia's energy demand grew by an average of 3% every year from 2000 to 2020. It is further expected to grow by an average of 5% every year till 2030. Such a rise in demand in the region made the government expand its oil production units by introducing new refineries and expanding the production capacity of the existing oil refineries. As per the Energy Information Administration (EIA), at least nine refineries projects are expected to be completed by the end of 2030 in Asia and the Middle East. The rise in oil production generates the need for heat exchangers in the plants and refineries, which further fuels its market growth in the region.
Asia Pacific Heat Exchanger Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Heat Exchanger Market Segmentation
The Asia Pacific heat exchanger market is segmented based on type, material, application, and country. Based on type, the Asia Pacific heat exchanger market is segmented into shell and tube, plate and frame, air cooled, and others. The shell and tube segment held the largest market share in 2022.
Based on material, the Asia Pacific heat exchanger market is segmented into steel, copper, and others. The steel segment held the largest market share in 2022.
Based on application, the Asia Pacific heat exchanger market is segmented into energy, chemical, food and beverages, HVACR, pulp and paper, and others. The energy segment held the largest market share in 2022.
Based on country, the Asia Pacific heat exchanger market is segmented into China, Japan, South Korea, India, Australia, Taiwan, Malaysia, and the Rest of Asia Pacific. China dominated the Asia Pacific heat exchanger market share in 2022.
Alfa Laval AB, API Heat Transfer Inc, Chart Industries Inc, Danfoss AS, Guntner GmbH & Co KG, Johnson Controls International Plc, Hisaka Works Ltd, Kelvion Holding GmbH, Larsen & Toubro Ltd, and Xylem Inc are some of the leading companies operating in the Asia Pacific heat exchanger market.
Table Of Contents
1. Introduction
- 1.1 The Insight Partners Research Report Guidance
- 1.2 Market Segmentation
2. Executive Summary
- 2.1 Key Insights
- 2.2 Market Attractiveness
3. Research Methodology
- 3.1 Coverage
- 3.2 Secondary Research
- 3.3 Primary Research
4. Asia Pacific Heat Exchanger Market Landscape
- 4.1 Overview
- 4.2 Ecosystem Analysis
- 4.2.1 List of Vendors in Value Chain
5. Asia Pacific Heat Exchanger Market - Key Industry Dynamics
- 5.1 Heat exchanger Market - Key Industry Dynamics
- 5.2 Market Drivers
- 5.2.1 Use of Heat Exchangers in Oil & Gas Industry
- 5.2.2 Rise in Industrialization
- 5.2.3 Surge in Industry-specific Applications
- 5.3 Market Restraints
- 5.3.1 High Initial Investment, Labor Cost, and Maintenance
- 5.3.2 Safety Concerns Regarding Heat Exchanger
- 5.4 Market Opportunities
- 5.4.1 Integration of 3D Printing Technology with Heat Exchangers
- 5.4.2 Rise in Electric Vehicle Adoption
- 5.5 Future Trends
- 5.5.1 Introduction of Heat Exchange Subscription Model
- 5.6 Impact of Drivers and Restraints:
6. Heat Exchanger Market - Asia Pacific Market Analysis
- 6.1 Asia Pacific Heat Exchanger Market Revenue (US$ Million), 2022 - 2030
- 6.2 Asia Pacific Heat Exchanger Market Forecast and Analysis
7. Asia Pacific Heat Exchanger Market Analysis - Type
- 7.1 Shell and Tube
- 7.1.1 Overview
- 7.1.2 Shell and Tube Market, Revenue and Forecast to 2030 (US$ Million)
- 7.2 Plate and Frame
- 7.2.1 overview
- 7.2.2 Plate and Frame Market, Revenue and Forecast to 2030 (US$ Million)
- 7.3 Air Cooled
- 7.3.1 Overview
- 7.3.2 Air Cooled Market Revenue and Forecast to 2030 (US$ Million)
- 7.4 Others
- 7.4.1 Overview
- 7.4.2 Others Market Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific Heat Exchanger Market Analysis - Material
- 8.1 Steel
- 8.1.1 Overview
- 8.1.2 Steel Market Revenue, and Forecast to 2030 (US$ Million)
- 8.2 Copper
- 8.2.1 Overview
- 8.2.2 Copper Market Revenue, and Forecast to 2030 (US$ Million)
- 8.3 Others
- 8.3.1 Overview
- 8.3.2 Others Market Revenue, and Forecast to 2030 (US$ Million)
9. Asia Pacific Heat Exchanger Market Analysis - Application
- 9.1 Energy
- 9.1.1 Overview
- 9.1.2 Energy Market Revenue, and Forecast to 2030 (US$ Million)
- 9.2 Chemical
- 9.2.1 Overview
- 9.2.2 Chemical Market Revenue, and Forecast to 2030 (US$ Million)
- 9.3 Food and Beverages
- 9.3.1 Overview
- 9.3.2 Food and Beverages Market Revenue, and Forecast to 2030 (US$ Million)
- 9.4 HVACR
- 9.4.1 Overview
- 9.4.2 HVACR Market Revenue, and Forecast to 2030 (US$ Million)
- 9.5 Pulp and Paper
- 9.5.1 Overview
- 9.5.2 Pulp and Paper Market Revenue, and Forecast to 2030 (US$ Million)
- 9.6 Others
- 9.6.1 Overview
- 9.6.2 Others Market Revenue, and Forecast to 2030 (US$ Million)
10. Asia Pacific Heat Exchanger Market - by Country Analysis
- 10.1 Asia Pacific
- 10.1.1 Asia Pacific Heat Exchanger Market Overview
- 10.1.2 Asia Pacific Heat Exchanger Market Revenue and Forecasts and Analysis - By Country
- 10.1.2.1 Asia Pacific Heat Exchanger Market Revenue and Forecasts and Analysis - By Country
- 10.1.2.2 China Heat exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.2.1 China Heat exchanger Market Breakdown by Type
- 10.1.2.2.2 China Heat exchanger Market Breakdown by Material
- 10.1.2.2.3 China Heat exchanger Market Breakdown by Application
- 10.1.2.3 Japan Heat exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.3.1 Japan Heat exchanger Market Breakdown by Type
- 10.1.2.3.2 Japan Heat exchanger Market Breakdown by Material
- 10.1.2.3.3 Japan Heat exchanger Market Breakdown by Application
- 10.1.2.4 South Korea Heat Exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.4.1 South Korea Heat exchanger Market Breakdown by Type
- 10.1.2.4.2 South Korea Heat exchanger Market Breakdown by Material
- 10.1.2.4.3 South Korea Heat exchanger Market Breakdown by Application
- 10.1.2.5 India Heat exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.5.1 India Heat exchanger Market Breakdown by Type
- 10.1.2.5.2 India Heat exchanger Market Breakdown by Material
- 10.1.2.5.3 India Heat exchanger Market Breakdown by Application
- 10.1.2.6 Australia Heat exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.6.1 Australia Heat exchanger Market Breakdown by Type
- 10.1.2.6.2 Australia Heat exchanger Market Breakdown by Material
- 10.1.2.6.3 Australia Heat exchanger Market Breakdown by Application
- 10.1.2.7 Taiwan Heat exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.7.1 Taiwan Heat exchanger Market Breakdown by Type
- 10.1.2.7.2 Taiwan Heat exchanger Market Breakdown by Material
- 10.1.2.7.3 Taiwan Heat exchanger Market Breakdown by Application
- 10.1.2.8 Malaysia Heat exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.8.1 Malaysia Heat exchanger Market Breakdown by Type
- 10.1.2.8.2 Malaysia Heat exchanger Market Breakdown by Material
- 10.1.2.8.3 Malaysia Heat exchanger Market Breakdown by Application
- 10.1.2.9 Rest of Asia Pacific Heat Exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.9.1 Rest of Asia Pacific Heat exchanger Market Breakdown by Type
- 10.1.2.9.2 Rest of Asia Pacific Heat exchanger Market Breakdown by Material
- 10.1.2.9.3 Rest of Asia Pacific Heat exchanger Market Breakdown by Application
11. Competitive Landscape
- 11.1 Heat Map Analysis by Key Players
12. Industry Landscape
- 12.1 Overview
- 12.2 Market Initiative
- 12.3 Product Development
13. Company Profiles
- 13.1 Alfa Laval AB
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
- 13.2 Kelvion Holding GmbH
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
- 13.3 Danfoss AS
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
- 13.4 API Heat Transfer Inc
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
- 13.5 Chart Industries Inc
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
- 13.6 Guntner GmbH & Co KG
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
- 13.7 Larsen & Toubro Ltd
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
- 13.8 Hisaka Works Ltd
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
- 13.9 Johnson Controls International Plc
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
- 13.10 Xylem Inc
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
14. Appendix
- 14.1 About The Insight Partners
- 14.2 Word Index