Press Release
Press Release
According to a new report by EMR titled, ‘The United States Heat Exchanger Market Report and Forecast 2024-2032’, the market attained a value of nearly USD 3.85 billion in 2023. The market is estimated to grow at a CAGR of 4.3% between 2024 and 2032 to reach around USD 5.67 billion by 2032.
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)
|
Total U.S.A |
Single-family detached |
Single-family attached |
Apartments |
Total U.S.A |
All homes |
123.53 |
77.07 |
7.45 |
9.34 |
22.84 |
Air-conditioning equipment |
|
||||
Uses air-conditioning equipment |
109.51 |
69.75 |
6.57 |
7.57 |
19.56 |
Does not use air-conditioning equipment |
14.02 |
7.32 |
0.88 |
1.77 |
3.28 |
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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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.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Material |
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Breakup by End Use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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