Rising LNG projects and district-cooling networks fuel demand for cryogenic and plate-frame heat exchanger. The market is driven by strong demand across Asia-Pacific.
Hyderabad, India, Oct. 08, 2025 (GLOBE NEWSWIRE) — The global heat exchanger market, valued at USD 18.28 billion in 2025, is projected to reach USD 23.54 billion by 2030, growing at a 5.19% CAGR during the forecast period (2025 – 2030). According to the latest insights from Mordor Intelligence, the heat exchanger market continues to expand steadily, driven by demand from sectors such as oil & gas, HVAC, power generation, chemicals, and food processing. The growth trajectory reflects how industries are optimizing heat transfer processes to reduce energy consumption and improve operational performance.
The adoption of compact and corrosion-resistant exchangers is increasing across process industries. Innovations in materials such as stainless steel, titanium, and nickel alloys are enabling higher efficiency and longer operational life. Meanwhile, the shift toward modular and custom-designed units allows better adaptability across varied industrial setups.
Current and Emerging Trends in the Heat Exchanger Market
Rising Demand for Energy Efficiency Across Sectors
Governments and industries worldwide are focusing on minimizing energy wastage, which has led to a surge in demand for efficient heat recovery systems. Heat exchangers enable significant energy savings by recovering waste heat from industrial processes and redirecting it into operations.
Growth in LNG and Cryogenic Applications
With the global increase in LNG production and export capacity, demand for cryogenic heat exchangers is witnessing notable growth. These systems, designed to handle extremely low temperatures, are vital in gas liquefaction, regasification, and storage operations.
Expansion of District Cooling and HVAC Applications
Urban infrastructure growth and rising temperatures in regions such as the GCC and Southeast Asia are accelerating investments in district cooling projects. Plate and frame heat exchangers, known for their compact design and high efficiency, are increasingly being deployed in commercial and residential HVAC systems to meet rising cooling needs.
Adoption of Advanced and Compact Designs
Manufacturers are focusing on compact heat exchanger designs like micro-channel and printed circuit types, which offer higher thermal performance and reduced space requirements.
To explore comprehensive insights on heat exchanger market size, detailed segmentation, and competitive strategies, read more about the Mordor Intelligence report: https://www.mordorintelligence.com/industry-reports/heat-exchanger-market?utm_source=globenewswire
Segmentation of Heat Exchanger
By Type
- Shell and Tube
- Plate and Frame (Gasketed Plate, Brazed Plate, Welded Plate)
- Air-Cooled (Fin and Tube, Plate-Fin, Micro-Channel)
- Regenerative (Rotary and Plate)
- Printed Circuit
- Others (Double-Pipe, Spiral, Coaxial)
By Material of Construction
- Stainless Steel
- Carbon Steel
- Non-Ferrous (Copper, Aluminum)
- Exotic Alloys (Titanium, Nickel, Hastelloy)
- Polymers and Composites (PTFE, Graphite, Ceramic)
By Flow Arrangement
- Counter-Current
- Parallel
- Cross-Flow
- Hybrid/Multi-Pass
By End-Use Industry
- Oil and Gas
- Chemical and Petrochemical
- Power Generation (incl. Nuclear)
- Food and Beverage
- Pulp and Paper
- Water and Waste-Water Treatment
- Other Industries (Automotive and Transportation, Metallurgy, Mining, HVACR, Pharmaceutical and Biotechnology)
Heat Exchanger Market Leadership Insights
Leading companies are focusing on enhancing product durability, expanding their regional footprints, and offering tailored solutions for industrial end users. Key market players include:
- Alfa Laval AB
- Kelvion Holding GmbH
- Danfoss A/S
- API Heat Transfer Inc.
- Hisaka Works Ltd.
- Xylem Inc.
- SPX Flow Inc.
- GEA Group AG
- HRS Heat exchangers Ltd.
Browse Key Players Analysis: https://www.mordorintelligence.com/industry-reports/heat-exchanger-market/companies?utm_source=globenewswire
Efficiency and Sustainability at the Core of Market Growth
The heat exchanger market is set for steady growth as industries increasingly adopt solutions that reduce energy consumption and operational costs. The convergence of stricter emission norms, industrial modernization, and renewable energy integration continues to elevate the demand for advanced thermal management systems.
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