ALBANY, N.Y.--(BUSINESS WIRE)--Transparency Market Research has recently published a research report titled “Heat Exchangers Market - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2014 - 2020”. The market was worth US$11.86 billion in 2013 and it is estimated to reach US$18.04 billion in 2020, increasing at a CAGR of 6.02% from 2013 to 2020.
The global heat exchangers market is evaluated on three fronts: product type, end-users, and region. The report provides an in-depth analysis of every aspect of the heat exchangers market.
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Segmentation of Global Heat Exchangers Market
Based on product type, air cooled heat exchangers, plate and frame heat exchangers, shell and tube heat exchangers, and others are the segments of heat exchangers market. The shell and tube heat exchangers is expected to dominate the heat exchangers market by 2020, owing to the increasing number of infrastructure and oil field development projects planned globally.
By end-users, the heat exchangers market is classified into heating, ventilation, and air conditioning market, chemicals market, power generation market, and others. The speedy growth in HVAC market with vigorous capacity additions in both the hydrocarbons and power sectors are expected to trigger demand for heat exchangers.
Regionally, North America, Europe, Asia Pacific, and Rest of the World are the main markets for heat exchangers. Asia Pacific held around 33.6% of the overall heat exchangers market share in 2013, which was valued at US$3.94 billion. This region is likely to reach US$6.12 billion, increasing at a CAGR of 6.34% from 2014 to 2020.
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Major Players in Global Heat Exchangers Market
The key players of heat exchangers market are Alfa Laval Corporate AB, Doosan Heavy Industries and Construction Co., Ltd., Spx Corporation, and Hisaka Works, Ltd.
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