United States Heat Exchanger Market to Grow at a CAGR of 4.3% During 2024-2032, Aided by the Increasing Application and Demand for HVAC Systems

As HVAC systems utilise heat exchangers, the rising installations of HVAC systems are expected to favour the United States heat exchanger market size in the forecast period. The rising use of stainless steel-based heat exchangers, which are renowned for their energy efficiency, high thermal conductivity, superior corrosion resistance, and ability to withstand high flow rates, is further propelling the market expansion.

Table: Air Conditioning in U.S. Homes, By Housing Unit Type, 2020 (Million units) 

Heat exchangers are used in HVAC systems for improving indoor air quality and reducing utility costs. Such systems play a crucial role in reducing energy consumption and maintaining a steady flow of fresh air and optimal temperatures. The use of advanced nanotechnology in heat exchanger surfaces to enhance heat transfer capabilities and boost efficiency and performance is further driving the market growth.

Developmental efforts to enhance heat exchanger designs for efficient heat transfer are significantly fuelling the market growth. For instance, in October 2023, Mitsubishi (OTCMKTS: MSBHF) launched aluminium vertical flat tube designs for heat exchangers, which reduce refrigerant charge and improve performance efficiency by about 40%. These innovations underscore the ongoing advancements aimed at optimising heat exchanger functionality and energy efficiency.

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Market Breakup by Type, Material, End Use, and Region:

• The market is segmented based on type into air cooled, shell and tube, and plate and frame, among others.

• On the basis of material, the market can be categorised into stainless steel, carbon steel, and nickel, among others.

• Based on end use, the market can be divided into oil and gas, chemical and petrochemical, power generation, HVAC and refrigeration, and food and beverage, among others.

• By region, the market is categorised into New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.

Key Findings of the Report:

• The United States heat exchanger market expansion is being driven by the increased use of stainless steel-based heat exchangers, valued for their high thermal conductivity, energy efficiency, superior corrosion resistance, and ability to withstand high flow rates.

• The U.S. is a leading market for heat exchangers, driven by a thriving oil and gas industry and an increase in exploration and production activities.

• The rising demand for heat exchangers in industrial and commercial sectors is bolstering the market growth.

• The market growth is further driven by the increasing installation of advanced heat exchangers to upgrade power units and reduce carbon emissions.

Key Offerings of the Report:

• The EMR report gives an overview of the United States heat exchanger market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the types, materials, end uses, and regions of heat exchanger in the United States.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the United States heat exchanger market are Koch Industries, Inc. (Koch Heat Transfer Company), Mersen SA, Chart Industries, Inc., SHECO Industries, Inc., HEATTRAN, Alfa Laval AB, Mason Manufacturing LLC, Kelvion Holding GmbH, Xylem Inc., and Danfoss A/S, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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