Heat Exchanger Market is projected to grow USD 28.3 Bn in 2030, at a CAGR of 5.5%
The heat exchanger market was valued at USD 16.7 Bn in 2021. The market is projected to grow USD 28.3 Bn in 2030, at a CAGR of 5.5%. Heat Exchanger is an equipment that controls a system's operational temperature and waste heat. The apparatus works with two fluids or gas and fluid mixtures that are at various temperatures and heat levels. Tubes or pipes are generally favoured for heat transmission between fluids or air where one flows through the pipes and the other flows above the pipes. Condensation, evaporation, chillers, vaporizers, and reboilers are only a few of the applications. In air conditioning, refrigeration, chemical processing, power generation, and automotive applications, these are critical components of the system. The increased focus on effective thermal management in various industries, such as oil & gas, power generation, chemical & petrochemical, food & beverage, and HVAC & refrigeration, is likely to drive demand for heat exchangers. Request f