At 5.8% CAGR, the South & Central America Heat Exchanger Market is Projected to be worth US$ 1,062.66 million by 2030, says Business Market Insights

According to Business Market Insights research, the South & Central America heat exchanger market was valued at US$ 675.81 million in 2022 and is expected to reach US$ 1,062.66 million by 2030, registering a CAGR of 5.8% from 2022 to 2030. Introduction of heat exchange subscription model is among the critical factors attributed to the South & Central America heat exchanger market expansion.

Companies are constantly seeking solutions that help them save costs, enabling them to use the saved amount for their other business operations. Many companies are taking innovative initiatives to provide solutions that are environment-friendly due to rising concerns about climate change. In January 2023, Kelvion Holding GmbH announced its plan to provide heat exchangers under the "Heat Exchange as a Service" pay-per-use business model as an innovative solution that can help its customers reduce capital expenditure. The company's main focus was to address the rising concern over CO2 emissions and introduce the subscription model to provide heat exchangers. The introduction of the product-service system helps small and medium-sized enterprises avail themselves of these services, from installation to maintenance, in a cost-effective manner and optimize their cash flow management. Heat exchanger is used in several end user industries such as automotive, chemical, and food & beverages for various applications. Thus, the subscription model will help the SMEs operating in these industries to adopt heat exchangers and encourage emerging players to use this cost-effective solution, which is expected to bolster the heat exchanger market during the forecast period years.

On the contrary, high initial investment, labor cost, and maintenance hampers the growth of South & Central America heat exchanger market.

Based on type, the South & Central America heat exchanger market is categorized into shell and tube, plate and frame, air cooled, and others. The shell and tube segment held 55.4% market share in 2022, amassing US$ 374.08 million. It is projected to garner US$ 602.54 million by 2030 to expand at 6.1% CAGR during 2022-2030.

Based on material, the South & Central America heat exchanger market is categorized into steel, copper, and others. The steel segment held 50.8% share of South & Central America heat exchanger market in 2022, amassing US$ 343.16 million. It is projected to garner US$ 561.50 million by 2030 to expand at 6.3% CAGR during 2022-2030.

Based on application, the South & Central America heat exchanger market is categorized into energy, chemical, food and beverages, HVACR, pulp and paper, and others. The energy segment held 37.9% share of South & Central America heat exchanger market in 2022, amassing US$ 256.27 million. It is projected to garner US$ 436.18 million by 2030 to expand at 6.9% CAGR during 2022-2030.

Based on country, the South & Central America heat exchanger market has been categorized into Brazil, Argentina, Columbia, and the Rest of South & Central America. Our regional analysis states that Brazil captured 48.6% share of South & Central America heat exchanger market in 2022. It was assessed at US$ 328.45 million in 2022 and is likely to hit US$ 550.35 million by 2030, exhibiting a CAGR of 6.7% during 2022-2030.

Key players operating in the South & Central America heat exchanger market are Alfa Laval AB, API Heat Transfer Inc, Chart Industries Inc, Danfoss AS, Guntner GmbH & Co KG, Johnson Controls International Plc, and Xylem Inc, among others.

- In Feb 2020, Johnson Controls announced a new heat exchanger.

- In Aug 2022, Bell & Gossett enhances its online system design software, integrates heat exchanger selection program into ESP-Systemwize.

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