Air-Cooled Heat Exchangers Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Air-cooled heat exchangers allow heat transfer from the hot medium to air using one or more fans. They are equipped with fins that increase the area in contact with the air to maximize heat transfer. These heat exchangers are widely used in various industrial applications, including power, chemical, Organic Rankine Cycle (ORC) plant, Oil and Gas, Steel, Pharmaceuticals and other industries requiring cooling and heating in extensive scale processes. Air-cooled heat exchangers are eco-friendly alternatives to cooling towers and shell and tube heat exchangers since they do not need an auxiliary water supply.

MARKET SCOPE

The "Global Air-Cooled Heat Exchangers Market Analysis to 2031" is a specialized and in-depth study of the Air-Cooled Heat Exchangers market with a special focus on the global market trend analysis. The report aims to provide an overview of Air-Cooled Heat Exchangers market with detailed market segmentation by configuration, material, industry, and geography. The global Air-Cooled Heat Exchangers market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Air-Cooled Heat Exchangers market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   On the basis of configuration, the market is segmented into forced draft, induced draft, horizontal, vertical, and A-frame.
  
•   On the basis of material, the market is segmented into stainless steel, carbon steel, copper, and others.
  
•   On the basis of industry, the market is segmented into Cement, Chemical, Pharmaceutical, Power, Steel, Oil and Gas, and Others.
  

MARKET DYNAMICS

Drivers:

•   Low maintenance and operating cost
  
•   Environment-friendly green solution compare to cooling towers and shell and tube heat exchangers
  

Restraints:

•   High noise levels and inability to cool to temperature as low as cooling tower
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Air-Cooled Heat Exchangers market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Air-Cooled Heat Exchangers market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting Air-Cooled Heat Exchangers market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Air-Cooled Heat Exchangers market in these regions.

IMPACT OF COVID-19 ON AIR-COOLED HEAT EXCHANGERS MARKET

The global Air-Cooled Heat Exchangers market suffered drastically due to the lockdowns and trade restrictions imposed during the pandemic's peak, which created a shortage of supply. However, the demand for heat exchangers-based equipment in the global market remained persistent due to the crucial requirement across multiple industries and rising demand from the ever growing pharmaceutical industry and power sector. Various key manufacturers have taken planned measures to deal with the crisis caused by COVID-19 pandemic. For instance, Alfa Laval has deployed business continuity plans to ensure that alternate supply chains are present as backup for all major suppliers. Therefore, the impact of COVID-19 on air-cooled heat exchangers market was negative in the short-term as the market suffered from supply chain disruptions and the long term prospects for the market are positive due to the essentiality of these products across multiple industries.

MARKET PLAYERS

The reports cover key developments in the Air-Cooled Heat Exchangers market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Air-Cooled Heat Exchangers market are anticipated to lucrative growth opportunities in the future with the rising demand for Air-Cooled Heat Exchangers market. Below mentioned is the list of few companies engaged in the Air-Cooled Heat Exchangers market.

The report also includes the profiles of key Air-Cooled Heat Exchangers market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

•   Alfa Laval
  
•   Boldrocchi
  
•   Chart Industries
  
•   Fbm Hudson Italiana
  
•   Howden Group
  
•   Kawasaki Heavy Industries, Ltd.
  
•   Paharpur Cooling Towers Ltd.
  
•   SPG Dry Cooling
  
•   SPX Cooling Technologies, Inc.
  
•   Thermax Limited
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Air-Cooled Heat Exchangers Report Scope