North America Heat Exchanger Market Outlook to 2022 - Market Analysis by Geography, Type, Competitive Landscape, Key Company Information - Growth, Trends and Forecasts

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The North American heat exchanger market has been estimated at USD XX billion in 2016 and is projected to reach USD XX billion by 2022, at a CAGR of XX% during the forecast period, from 2017 to 2022. The heat exchanger is a device with an application in several industries. These exchangers enable the passage of heat from one fluid to another, and thus, an essential component in many industrial processes where they help in the durability of machines. Heat exchangers are mostly used in cooling systems and find their place right from locomotion to power generation plants. North America has some of the world’s most industrialized nations, such as the United States and Canada, with well-established manufacturing and transport sectors. The heat exchangers market is expected to grow at an excellent rate, as most of the developments are taking place in the United States, due to increased investments in the country.

Market Dynamics

Countries like the United States in North America are already taking several policy initiatives to foster the growth of industries in order to boost their economy. With the new presidency of Donald Trump, increased industrial activity is expected in the country, as most of the manufacturing is expected to be carried out within the United States, instead of outsourcing to the third world countries, like China. This move was introduced in order to generate employment within the country. The growth in industrial activity will certainly drive the market for heat exchangers. North America has a huge market base for heat exchangers, with highly industrialized nations, such as Canada and the United States. Heating, ventilation and air conditioning systems (HVAC) use heat exchangers, extensively. Cooling equipment in the HVAC systems in the residential sector is expected to see an increasing demand for heat exchangers, as most of the HVAC systems need refurbishments along with new installations in many parts of North America. Moreover, North America is home to the world’s biggest oil and gas market, due to its proximity to the Gulf of Mexico. The oil & gas industry is one of the biggest markets for heat exchangers. On the flip side, though, the main concern regarding heat exchangers is the non-availability of raw material and the price fluctuations of the raw material. This situation is expected to constraint the growth of the heat exchanger market in North America. However, heat exchangers have several market opportunities, such as technological improvements and retrofitting, along with refurbishment activities.

Market Segmentation & Scope

The heat exchanger market applies to different sectors, such as residential, commercial and industrial, with the industrial segment occupying the largest market share in North America. Hence, the market segmentation is done based on these categories. The market has also been categorized, based on the construction type, such as tubular, plate type and extended surface. The XX type of heat exchanger has the biggest market share in North America, with a share of XX%, in 2016. The market has been segmented, based on the end-user, into oil & gas, automotive and aviation, power plants, mining, chemicals, HVAC, and others. The XX end-user occupied the largest market share of XX%, in 2016. The market has also been geographically segmented into Canada, the United States, Mexico, and others. The United States occupies the largest consumer base in North America, with a market share of 78%, followed by Canada and Mexico. The major companies dominating this market for its products, services, and continuous product developments have been listed in the report.

Scope of the Report:

North America Heat Exchanger Market Analysis, by Construction Type 

  • Tubular
  • Plate Type
  • Extended Surface

North America Heat Exchanger Market Analysis, by Application

  • Residential
  • Commercial
  • Industrial

North America Heat Exchanger Market Analysis, by End-User                    

  • Oil & Gas             
  • Automotive & Aviation 
  • Power Plants
  • Mining 
  • Chemicals
  • HVAC
  • Others 

North America Heat Exchanger Market Analysis, by Geography 

  • Canada
  • United States
  • Mexico 
  • Others

Key Companies

  • Alfa Laval AB 
  • Barriquand Technologies Thermiques
  • Danfoss A/S 
  • General Electric
  • Hamon Group
  • Hisaka
  • Hrs Heat Exchangers Ltd. 
  • Johnson Control
  • Mersen
  • Mitsibushi Electric
  • Modine Manufacturing Company 
  • Sondex Holdings A/S 
  • SPX Corporation 
  • Thermax
  • Toshiba
  • Xylem Inc. 
  • Others

Key Deliverables in the Study

  • Market Overview - market analysis and identification of key drivers, restraints, and opportunities.
  • Major trends and economic outlook.
  • Supply chain analysis.
  • Porter’s five forces analysis.
  • A comprehensive summary of the industry sectors and regions poised for the fastest-growth.
  • Heat Exchanger market analysis by type, region, capacity/rating, end-use, and application.
  • Future outlook of the market.
  • Extensively researched competitive landscape section with profiles of major companies, along with their estimated market shares.

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