Market Size of Asia-Pacific Heat Exchanger Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Heat Exchanger Market Analysis
The Asia-Pacific thermal energy power generation is expected to rise with a CAGR of over 2.5% during the forecast period of 2020-2025. Factors such as the increasing industrial operations in the developing countries such as China, India, etc. is expected to drive the demand for heat exchanger market over the forecast period. However, rising installations of renewable energy sources, which eliminates the requirement of the heat exchanger, is expected to hinder the growth of the market.
- Power generation is expected to dominate the heat exchanger market, owing to the increasing energy demand in developing countries of the Asia-Pacific region over the forecast period.
- In countries such as China, India and Indonesia, the increasing number of oil-gas refining facilities and chemical plants, in which heat exchanger is widely used, is likely to create some golden opportunities for the Asia-Pacific heat exchanger market in the future.
- China held a significant share in 2018, due to its increasing industrial development and urbanization and is likley to dominate the Asia-Pacific heat exchanger market during the forecast period.
