Europe Heat Exchanger Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Europe Heat Exchanger Market Companies and is segmented by Application (Residential, Commercial, and Industrial) and Geography (Germany, Italy, France, and the Rest of Europe). The report offers the market size and forecasts in revenue (USD Billion) for all the above segments.

Europe Heat Exchanger Market Size

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Europe Heat Exchanger Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2021 - 2022
CAGR > 7.21 %

Major Players

Europe Heat Exchanger Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Europe Heat Exchanger Market Analysis

The Europe Heat Exchanger Market is expected to register a CAGR of more than 7.21% during the forecast period.

The market was negatively impacted by COVID-19. Presently the market has now reached pre-pandemic levels.

  • On account of the increasing focus on the development of the regional industrial sector, some government policies have been the major factors driving the demand for the heat exchanger market. Introducing stringent emission norms to reduce emissions may further strengthen product adoption.
  • The increasing cost of production of heat exchangers due to the ever-increasing cost of raw materials is anticipated to hamper the European heat exchangers market growth. The cost of these metals has increased significantly in recent years, which has been the major restraining factor for the heat exchanger market.
  • Moreover, as compared to the conventional ones, the low weight and compact size of these heat exchangers have added advantages in location, which has space constraints, such as offshore platforms. Thus, introducing new hybrid heat exchanger technology is a major opportunity in the market studied.
  • Germany is expected to witness major industrial activities in the forecast period, and it is expected to dominate the market over the forecast period.

Europe Heat Exchanger Market Trends

This section covers the major market trends shaping the Europe Heat Exchanger Market according to our research experts:

Industrial Segment to Dominate the Market

  • The Europe Heat Exchanger Market has been evolving to meet the ever-changing demands of industrial processes and the environment in which they have to work. The manufacturing companies have introduced new hybrid heat exchangers that are highly efficient and flexible.
  • Moreover, Heat exchangers are crucial in the processing of oil and gas. They are utilized in the natural gas liquefaction and the refining process of the cracking unit. The process of "cracking" involves chopping up the hydrocarbons that make up crude oil.
  • In 2021, Europe's total oil refining capacity accounted for 15,609 thousand barrels daily. With a total global share of 14.8%, expected to increase in the forecast period driving the industrial heat exchanger market in the industrial sector as it is used in the refining process.
  • Shell and tube heat exchangers can manage fluids at high temperatures and pressures. Due to this, they have been preferred in various applications, such as chemical, petrochemical, oil and gas, food and beverage, and power generation.
  • Thus, with the increasing use of heat exchangers in different applications in the industrial sector, the industrial segment is expected to dominate in the forecast period.
Europe Heat Exchanger Market : Oil refining capacity, In Thousand barrels daily, Europe, 2012-2021

Germany to Dominate the Market

  • The German heat exchanger market size is anticipated to register a significant growth rate over the forecast period. Rising concerns about environmental pollution, along with shifting trends to curb carbon emissions across the industrial sector, may augment business growth.
  • The growing demand for centralized heating systems across the commercial and residential sectors may significantly contribute to industry expansion.
  • In 2021, Germany's electricity generation accounted for 584.5 Terawatt-hours. Germany's electricity generation is expected to increase in the future, which, in turn, is expected to support market growth as heat exchangers are used in thermal power plants to generate electricity.
  • Germany has been transforming waste heat into electricity with the help of a heat exchanger used in the thermal power plant and increased electricity consumption by 35%.
  • Low-pressure drop, economic viability, and high efficiency are some of the significant features that may favor product adoption over available alternatives.
Europe Heat Exchanger Market: Electricity Generation, In TWh, Germany, 2012-2021

Europe Heat Exchanger Industry Overview

The Europe Heat Exchanger Market is moderately fragmented. Some of the key players in the market (not in particular order) studied are Vahterus Oy, Alfa Laval, Danfoss A/S, Hisaka Works Ltd, and Larsen & Toubro Limited, among others.

Europe Heat Exchanger Market Leaders

  1. Vahterus Oy

  2. Alfa Laval

  3. Danfoss A/S

  4. Hisaka Works Ltd


*Disclaimer: Major Players sorted in no particular order

Europe Heat Exchanger Market Concentration
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Europe Heat Exchanger Market News

  •  August 2022: Klaren International announced to supply two self-cleaning heat exchangers to the Uberseeinsel project in Bremen, Germany. Constructing an energy plant using the Weser as a heat source provides heating and cooling. Heat pumps are used in conjunction with intermediate heat exchangers to remove the heat from the river.
  • May 2022: The development, design, and production of 3D-printed heat exchanger systems in Europe with a joint effort between Conflux and GKN Additive was announced. By exploiting the design flexibility offered by 3D printing, it has been demonstrated that 3D-printed heat exchangers can enhance the cooling of crucial components in the electronics, automotive, aerospace, and packaged goods industries.

Europe Heat Exchanger Market Report - Table of Contents


    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions




    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry


    1. 5.1 Application

      1. 5.1.1 Residential

      2. 5.1.2 Commercial

      3. 5.1.3 Industrial

    2. 5.2 Geography

      1. 5.2.1 Germany

      2. 5.2.2 Italy

      3. 5.2.3 France

      4. 5.2.4 Rest of Europe


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Vahterus Oy

      2. 6.3.2 Alfa Laval

      3. 6.3.3 Danfoss A/S

      4. 6.3.4 Hisaka Works Ltd

      5. 6.3.5 Larsen & Toubro Limited

      6. 6.3.6 Modine Manufacturing Company

      7. 6.3.7 Sondex Holding A/S

      8. 6.3.8 SPX Cop

    4. *List Not Exhaustive

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Europe Heat Exchanger Industry Segmentation

Heat is transferred from one medium to another using heat exchangers. These media could be a gas, a liquid, or a mix of the two. The media may be in direct contact or separated from one another by a solid wall to prevent mixing. Heat exchangers can increase a system's energy efficiency by moving heat from systems where it is not needed to systems where it can be used. 

The Europe Heat Exchanger Market is segmented by Application (Residential, Commercial, and Industrial). By application, the market is segmented into residential, commercial, and industrial. The report also covers the market size and forecasts for the Europe Heat Exchanger Market across the major countries. For each segment, the market sizing and forecasts are based on the revenue (USD Billion).

Rest of Europe
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Europe Heat Exchanger Market Research FAQs

The Europe Heat Exchanger Market is projected to register a CAGR of greater than 7.21% during the forecast period (2024-2029)

Vahterus Oy, Alfa Laval , Danfoss A/S , Hisaka Works Ltd and LARSEN & TOUBRO LIMITED are the major companies operating in the Europe Heat Exchanger Market.

The report covers the Europe Heat Exchanger Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Europe Heat Exchanger Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Europe Heat Exchanger Industry Report

Statistics for the 2024 Europe Heat Exchanger market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Heat Exchanger analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Europe Heat Exchanger Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)