Market Size of North America Heat Exchanger Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Heat Exchanger Market Analysis
The North America heat exchanger market is expected to rise with a CAGR of over 2% during the forecast period of 2020-2025. Increasing industrial operations and urbanization in a developing country such as Mexico is expected to drive the North America heat exchanger market. However, an increase in renewable energy installation for clean energy, which rarely requires a heat exchanger, is expected to have a negative impact on the market.
- The energy demand of North America is increasing continuously, so the power generation segment, which widely uses heat exchanger, is expected to see significant growth in the North America heat exchanger market.
- An increase in the use of natural gas for energy generation by countries such as the United States and Mexico is likely to create several opportunities for the North America heat exchanger market in the future.
- The United States, due to its large number of end-users industries that use heat exchangers such as oil-gas refineries and chemical plants, held a significant market share in 2018 and is likely to dominate the North America heat exchanger market.
