Product Code: BMIRE00029743
The Europe heat exchanger market was valued at US$ 7,918.70 million in 2022 and is expected to reach US$ 15,269.64 million by 2030; it is estimated to grow at a CAGR of 8.6% from 2022 to 2030.
Rise in Industrialization Fuel the Europe Heat Exchanger Market
Industry 4.0 is transforming the way companies manufacture, process, and distribute their products and is focused on improving product quality by minimizing the risk of human error and posing a safe environment. Due to the rise in Industry 4.0, governments of various countries are investing in their manufacturing sectors. For instance, "Made in Europe" is a seven-year (2021-2027) public-private collaboration co-programmed by Horizon Europe, with a total budget of about US$ 2 billion. In the collaboration, the private sector is represented by the European Factories of the Future Research Association (EFFRA). The Factories of the Future Partnership, which was administered under the Horizon 2020 initiative, was replaced by Made in Europe. The collaboration will help Europe's industrial sector become more resilient, digital, green, competitive, and human-centered. The partnerships 2030 aim is to strengthen Europe's manufacturing sectors standing on the world stage regarding productivity, competitiveness, and technological leadership. Thus, the rise in industrialization is contributing to the building of new manufacturing facilities across various industry verticals such as chemical, food & beverages, and automotive, which further contributes to the need for heat exchangers to maintain the optimal temperature for the optimal productivity during the workflow and avoid any safety risk and accidents. To cater to the rising demand for heat exchangers in this revolutionizing industrialization phase, the market players are heavily investing in new product developments.
A few of the new product development is mentioned below:
- In February 2023, Sanhua launched stainless steel braze plate heat exchangers (BPHE) to maintain higher heat transfer efficiency and lower pressure drops in various applications such as chillers, heat pumps, and boilers.
- In March 2022, Sweden-based Alfa Laval unveiled AC540, a new brazed-plate heat exchanger series ideal for its application in multiple-scroll chillers. The products unique asymmetric plate design helps to reduce the evaporators refrigerant charge and minimize the pressure drop.
Thus, such product launch fuels the heat exchanger market.
Europe Heat Exchanger Market Overview
The Europe heat exchanger market is segmented into Germany, France, Italy, Spain, the UK, Russia, Poland, Sweden, Norway, Denmark, Czech Republic, Hungary, Belgium, the Netherlands, Luxembourg, Finland, and the Rest of Europe. The region is highly focused on building power plants to meet the growing electricity demand from residential, commercial, and residential sectors in an efficient way. In addition, with the rise in electricity production, the government is focused on building new power plants with the rising demand for renewable electricity. For example, according to the French President, in February 2022, the country will build 14 new nuclear reactors to make France carbon neutral by 2050. Thus, such building of new power plants will demand liquid-to-liquid heat exchangers for moderator cooling, which helps to improve the efficiency as well as safety of plants, further fueling the heat exchanger market in Europe.
Europe Heat Exchanger Market Revenue and Forecast to 2030 (US$ Million)
Europe Heat Exchanger Market Segmentation
The Europe heat exchanger market is segmented based on type, material, application, and country. Based on type, the Europe heat exchanger market is segmented into shell and tube, plate and frame, air cooled, and others. The shell and tube segment held the largest market share in 2022.
Based on material, the Europe heat exchanger market is segmented into steel, copper, and others. The steel segment held the largest market share in 2022.
Based on application, the Europe heat exchanger market is segmented into energy, chemical, food and beverages, HVACR, pulp and paper, and others. The energy segment held the largest market share in 2022.
Based on country, the Europe heat exchanger market is segmented into Germany, France, the UK, Spain, Italy, Russia, Netherlands, Belgium, Poland, Sweden, Czech Republic, Finland, Norway, Hungary, Denmark, Luxembourg, and the Rest of Europe. Germany dominated the Europe heat exchanger market share in 2022.
Alfa Laval AB, API Heat Transfer Inc, Chart Industries Inc, Danfoss AS, Guntner GmbH & Co KG, Johnson Controls International Plc, Kelvion Holding GmbH, Larsen & Toubro Ltd, and Xylem Inc are some of the leading companies operating in the Europe heat exchanger market.
Table Of Contents
1. Introduction
- 1.1 The Insight Partners Research Report Guidance
- 1.2 Market Segmentation
2. Executive Summary
- 2.1 Key Insights
- 2.2 Market Attractiveness
3. Research Methodology
- 3.1 Coverage
- 3.2 Secondary Research
- 3.3 Primary Research
4. Europe Heat Exchanger Market Landscape
- 4.1 Overview
- 4.2 Ecosystem Analysis
- 4.2.1 List of Vendors in Value Chain
5. Europe Heat Exchanger Market - Key Industry Dynamics
- 5.1 Heat exchanger Market - Key Industry Dynamics
- 5.2 Market Drivers
- 5.2.1 Use of Heat Exchangers in Oil & Gas Industry
- 5.2.2 Rise in Industrialization
- 5.2.3 Surge in Industry-specific Applications
- 5.3 Market Restraints
- 5.3.1 High Initial Investment, Labor Cost, and Maintenance
- 5.3.2 Safety Concerns Regarding Heat Exchanger
- 5.4 Market Opportunities
- 5.4.1 Integration of 3D Printing Technology with Heat Exchangers
- 5.4.2 Rise in Electric Vehicle Adoption
- 5.5 Future Trends
- 5.5.1 Introduction of Heat Exchange Subscription Model
- 5.6 Impact of Drivers and Restraints:
6. Heat Exchanger Market - Europe Market Analysis
- 6.1 Europe Heat Exchanger Market Revenue (US$ Million), 2022 - 2030
- 6.2 Europe Heat Exchanger Market Forecast and Analysis
7. Europe Heat Exchanger Market Analysis - Type
- 7.1 Shell and Tube
- 7.1.1 Overview
- 7.1.2 Shell and Tube Market, Revenue and Forecast to 2030 (US$ Million)
- 7.2 Plate and Frame
- 7.2.1 overview
- 7.2.2 Plate and Frame Market, Revenue and Forecast to 2030 (US$ Million)
- 7.3 Air Cooled
- 7.3.1 Overview
- 7.3.2 Air Cooled Market Revenue and Forecast to 2030 (US$ Million)
- 7.4 Others
- 7.4.1 Overview
- 7.4.2 Others Market Revenue and Forecast to 2030 (US$ Million)
8. Europe Heat Exchanger Market Analysis - Material
- 8.1 Steel
- 8.1.1 Overview
- 8.1.2 Steel Market Revenue, and Forecast to 2030 (US$ Million)
- 8.2 Copper
- 8.2.1 Overview
- 8.2.2 Copper Market Revenue, and Forecast to 2030 (US$ Million)
- 8.3 Others
- 8.3.1 Overview
- 8.3.2 Others Market Revenue, and Forecast to 2030 (US$ Million)
9. Europe Heat Exchanger Market Analysis - Application
- 9.1 Energy
- 9.1.1 Overview
- 9.1.2 Energy Market Revenue, and Forecast to 2030 (US$ Million)
- 9.2 Chemical
- 9.2.1 Overview
- 9.2.2 Chemical Market Revenue, and Forecast to 2030 (US$ Million)
- 9.3 Food and Beverages
- 9.3.1 Overview
- 9.3.2 Food and Beverages Market Revenue, and Forecast to 2030 (US$ Million)
- 9.4 HVACR
- 9.4.1 Overview
- 9.4.2 HVACR Market Revenue, and Forecast to 2030 (US$ Million)
- 9.5 Pulp and Paper
- 9.5.1 Overview
- 9.5.2 Pulp and Paper Market Revenue, and Forecast to 2030 (US$ Million)
- 9.6 Others
- 9.6.1 Overview
- 9.6.2 Others Market Revenue, and Forecast to 2030 (US$ Million)
10. Europe Heat Exchanger Market - by Country Analysis
- 10.1 Europe
- 10.1.1 Europe Heat exchanger Market Overview
- 10.1.2 Europe Heat exchanger Market Revenue and Forecasts and Analysis - By Country
- 10.1.2.1 Europe Heat exchanger Market Revenue and Forecasts and Analysis - By Country
- 10.1.2.2 Germany Heat exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.2.1 Germany Heat exchanger Market Breakdown by Type
- 10.1.2.2.2 Germany Heat exchanger Market Breakdown by Material
- 10.1.2.2.3 Germany Heat exchanger Market Breakdown by Application
- 10.1.2.3 France Heat exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.3.1 France Heat exchanger Market Breakdown by Type
- 10.1.2.3.2 France Heat exchanger Market Breakdown by Material
- 10.1.2.3.3 France Heat exchanger Market Breakdown by Application
- 10.1.2.4 United Kingdom Heat Exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.4.1 United Kingdom Heat Exchanger Market Breakdown by Type
- 10.1.2.4.2 United Kingdom Heat Exchanger Market Breakdown by Material
- 10.1.2.4.3 United Kingdom Heat Exchanger Market Breakdown by Application
- 10.1.2.5 Spain Heat Exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.5.1 Spain Heat exchanger Market Breakdown by Type
- 10.1.2.5.2 Spain Heat exchanger Market Breakdown by Material
- 10.1.2.5.3 Spain Heat exchanger Market Breakdown by Application
- 10.1.2.6 Italy Heat exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.6.1 Italy Heat exchanger Market Breakdown by Type
- 10.1.2.6.2 Italy Heat exchanger Market Breakdown by Material
- 10.1.2.6.3 Italy Heat exchanger Market Breakdown by Application
- 10.1.2.7 Russia Heat exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.7.1 Russia Heat exchanger Market Breakdown by Type
- 10.1.2.7.2 Russia Heat exchanger Market Breakdown by Material
- 10.1.2.7.3 Russia Heat exchanger Market Breakdown by Application
- 10.1.2.8 Netherlands Heat exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.8.1 Netherlands Heat exchanger Market Breakdown by Type
- 10.1.2.8.2 Netherlands Heat exchanger Market Breakdown by Material
- 10.1.2.8.3 Netherlands Heat exchanger Market Breakdown by Application
- 10.1.2.9 Belgium Heat exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.9.1 Belgium Heat exchanger Market Breakdown by Type
- 10.1.2.9.2 Belgium Heat exchanger Market Breakdown by Material
- 10.1.2.9.3 Belgium Heat exchanger Market Breakdown by Application
- 10.1.2.10 Poland Heat exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.10.1 Poland Heat exchanger Market Breakdown by Type
- 10.1.2.10.2 Poland Heat exchanger Market Breakdown by Material
- 10.1.2.10.3 Poland Heat exchanger Market Breakdown by Application
- 10.1.2.11 Sweden Heat exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.11.1 Sweden Heat exchanger Market Breakdown by Type
- 10.1.2.11.2 Sweden Heat exchanger Market Breakdown by Material
- 10.1.2.11.3 Sweden Heat Exchanger Market Breakdown by Application
- 10.1.2.12 Czech Republic Heat Exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.12.1 Czech Republic Heat Exchanger Market Breakdown by Type
- 10.1.2.12.2 Czech Republic Heat exchanger Market Breakdown by Material
- 10.1.2.12.3 Czech Republic Heat Exchanger Market Breakdown by Application
- 10.1.2.13 Finland Heat Exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.13.1 Finland Heat Exchanger Market Breakdown by Type
- 10.1.2.13.2 Finland Heat exchanger Market Breakdown by Material
- 10.1.2.13.3 Finland Heat Exchanger Market Breakdown by Application
- 10.1.2.14 Norway Heat Exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.14.1 Norway Heat Exchanger Market Breakdown by Type
- 10.1.2.14.2 Norway Heat exchanger Market Breakdown by Material
- 10.1.2.14.3 Norway Heat Exchanger Market Breakdown by Application
- 10.1.2.15 Hungary Heat Exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.15.1 Hungary Heat Exchanger Market Breakdown by Type
- 10.1.2.15.2 Hungary Heat exchanger Market Breakdown by Material
- 10.1.2.15.3 Hungary Heat Exchanger Market Breakdown by Application
- 10.1.2.16 Denmark Heat Exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.16.1 Denmark Heat Exchanger Market Breakdown by Type
- 10.1.2.16.2 Denmark Heat exchanger Market Breakdown by Material
- 10.1.2.16.3 Denmark Heat Exchanger Market Breakdown by Application
- 10.1.2.17 Luxembourg Heat Exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.17.1 Luxembourg Heat Exchanger Market Breakdown by Type
- 10.1.2.17.2 Luxembourg Heat exchanger Market Breakdown by Material
- 10.1.2.17.3 Luxembourg Heat Exchanger Market Breakdown by Application
- 10.1.2.18 Rest of Europe Heat exchanger Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.1.2.18.1 Rest of Europe Heat exchanger Market Breakdown by Type
- 10.1.2.18.2 Rest of Europe Heat exchanger Market Breakdown by Material
- 10.1.2.18.3 Rest of Europe Heat exchanger Market Breakdown by Application
11. Competitive Landscape
- 11.1 Heat Map Analysis by Key Players
12. Industry Landscape
- 12.1 Overview
- 12.2 Market Initiative
- 12.3 Product Development
13. Company Profiles
- 13.1 Alfa Laval AB
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
- 13.2 Kelvion Holding GmbH
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
- 13.3 Danfoss AS
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
- 13.4 API Heat Transfer Inc
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
- 13.5 Chart Industries Inc
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
- 13.6 Guntner GmbH & Co KG
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
- 13.7 Larsen & Toubro Ltd
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
- 13.8 Johnson Controls International Plc
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
- 13.9 Xylem Inc
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
14. Appendix
- 14.1 About the Insight Partners
- 14.2 Word Index