The global welded spiral heat exchanger market size is anticipated to reach
USD 1.8 billion by 2025, exhibiting a CAGR of 4.0% over the forecast period,
according to a new report published by Grand View Research, Inc. The global
market is expected to witness significant growth on account of rising product
demand from various industries including chemicals, petroleum, and food &
beverage, among others.
Key materials widely used for the
manufacturing of welded spiral heat exchanger include steel, nitrile aluminum,
rubber gasket, brass alloy, and titanium, among others. The market is
characterized by the presence of top manufacturers such as Alfa Laval and
Danfoss. The operations of these companies are integrated across the
manufacturing and distribution processes of welded spiral heat exchangers.
Welded spiral heat exchangers have an
advantage over a conventional heat exchanger as the fluid is exposed to a much
larger surface area.They also provide much higher thermal performance compared
to conventional heat exchangers. Welded spiral heat exchanger is ideal for
dangerous and aggressive fluids as leakage is practically excluded owing to
welded channel construction.
Based on end use, HVAC & refrigeration
is expected to be the largest segment and projected to hold its position over
the forecast period. The segment was valued at USD 282.1 million in 2018. Food
& beverages end-use segment is expected to be the fastest-growing segment
and likely to register a CAGR of 5.0% from 2019 to 2025. Power generation
segment is projected to witness significant growth in the market at a growth
rate of 4.2% from 2019 to 2025.
Growing industrialization in the developing
economies of Asia Pacific and increasing investments in manufacturing,
commercial, and industrial projects have contributed to the overall growth of
the market. This has led to increased demand for spiral heat exchangers in the
region as they are largely used in industries such as petrochemical and food
& beverages and power generation companies. A major shift in demand for
spiral heat exchangers is being witnessed from mature European and North American
markets in the developing economies in Asia Pacific such as China and India.
Access Research Report of Welded Spiral Heat Exchanger Market @ https://www.grandviewresearch.com/industry-analysis/welded-spiral-heat-exchangers-market
Further key findings from the report suggest:
· Asia Pacific accounted for 37.6% of the
overall market in 2018 and is expected to be the largest market, accelerating
at a CAGR of 5.2% over the forecast period
· The European market was valued at USD 397.1
million in 2018 and is likely to be the second-largest market over the forecast
period owing to the rising construction and automobile industries
· CSA is expected to exhibit the fastest
growth rate in the global welded spiral heat exchanger market at a CAGR of 6.3%
from 2019 to 2025 on account of growing petrochemical and food & beverages
industries in the region.
Grand View Research has segmented the
global welded spiral heat exchangers market based on end use and region:
End Use Outlook (Revenue, USD Million, 2014 - 2025)
·
Chemical
·
Food & Beverages
·
HVAC & Refrigeration
·
Petrochemicals
·
Power Generation
·
Pulp & Paper
·
Others
Regional Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
France
o
Italy
·
Asia Pacific
o
China
o
Japan
o
India
·
Central & South America
o
Brazil
·
Middle East and Africa
o
UAE
About Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
