Market Size of Europe Heat Exchanger Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 7.21 % |
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.
