At 8.6% CAGR, the Europe Heat Exchanger Market is Projected to be worth US$ 15,269.64 million by 2030, says Business Market Insights

According to Business Market Insights research, 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, registering a CAGR of 8.6% from 2022 to 2030. Integration of 3D printing technology with heat exchangers is among the critical factors attributed to the Europe heat exchanger market expansion.

3D printing or additive manufacturing is the development of a three-dimensional object from a digital file. The demand for 3D printing solutions is rising owing to advantages such as flexible design, rapid prototyping, print of demand, lightweight and robust parts, faster design and customized production, minimum waste, cost-effectiveness, and environment friendly. In addition, the rising awareness worldwide to use environment-friendly solutions and associated GHG emissions are encouraging heat exchanger providers to use this advancing technology to produce new products to meet the demand from various end user applications. The growing need for efficient heat exchangers in crucial applications such as power generation systems, consumer electronics, and food and beverage manufacturing facilities contribute to the adoption of 3D printing technology. Thus, the integration of 3D printing technology with heat exchangers is likely to create opportunities for market players to meet the growing demand from various end user applications during the forecast period.

On the contrary, high initial investment, labor cost, and maintenance hampers the growth of Europe heat exchanger market.

Based on type, the Europe heat exchanger market is categorized into shell and tube, plate and frame, air cooled, and others. The shell and tube segment held 44.2% market share in 2022, amassing US$ 3,503.75 million. It is projected to garner US$ 7,078.12 million by 2030 to expand at 9.2% CAGR during 2022-2030.

Based on material, the Europe heat exchanger market is categorized into steel, copper, and others. The steel segment held 45.1% share of Europe heat exchanger market in 2022, amassing US$ 3,569.50 million. It is projected to garner US$ 7,210.56 million by 2030 to expand at 9.2% CAGR during 2022-2030.

Based on application, the Europe heat exchanger market is categorized into energy, chemical, food and beverages, HVACR, pulp and paper, and others. The energy segment held 35.3% share of Europe heat exchanger market in 2022, amassing US$ 2,796.21 million. It is projected to garner US$ 6,012.02 million by 2030 to expand at 10.0% CAGR during 2022-2030.

Based on country, the Europe heat exchanger market has been categorized into Germany, France, the UK, Spain, Italy, Russia, Netherlands, Belgium, Poland, Sweden, Czech Republic, Finland, Norway, Hungary, Denmark, Luxembourg, and the Rest of Europe. Our regional analysis states that Germany captured 16.7% share of Europe heat exchanger market in 2022. It was assessed at US$ 1,318.46 million in 2022 and is likely to hit US$ 2,962.85 million by 2030, exhibiting a CAGR of 10.7% during 2022-2030.

Key players operating in the Europe heat exchanger market are 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, among others.

- In Jan 2023, L&T Heavy Engineering wins multiple "significant" orders in the December quarter.

- In Feb 2023, Johnson Controls announced a new heat exchanger.

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