The Heat Exchanger Market Is Anticipated To Witness High Growth Owing To Rising Demand For Energy Efficiency
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Heat Exchanger Market The heat exchanger market refers to equipment that transfers heat between two or more fluids without physical contact. The core function of heat exchangers is to transfer heat from a hot fluid to a cold fluid. Some common types of heat exchangers include shell and tube heat exchangers, air cooled heat exchangers, double pipe heat exchangers, plate heat exchangers and others. Heat exchangers find widespread applications across various industries such as chemical processing, petrochemical, oil and gas, HVAC, power generation and others. They help improve energy efficiency of industrial processes by recovering waste heat and reducing utility costs. The need for heat exchangers is increasing due to stringent environmental regulations regarding carbon emissions and growing focus on optimizing plant operations. The Global heat exchanger market is estimated to be valued at US$ 21714.26 Bn in 2024 and is expected to exhibit a CAGR of 22.% over the forecast period 2024