The India heat exchangers market accounted for $454.4 million in 2018, and is anticipated to reach $890.0 million by 2026, registering a CAGR of 8.6% from 2019 to 2026. Heat exchanger is a system designed to efficiently transfer energy between two or more fluids.
The production of heat exchangers is a highly labor-intensive process, attributable to the long welding hours. Thus, heat exchangers are preferably manufactured in India, owing to the availability of cheap labor, which is a major factor that drives the growth of the India heat exchangers market. Only the standard products are manufactured in India as of now; however, in the future, custom-made heat exchangers are anticipated to be produced. However, high cost of raw materials used for the manufacture of shell & tube heat exchangers is expected to inhibit the growth of the market.
The India heat exchangers market is segmented based on type, material of construction, and end-user industry. Depending on type, the market is categorized into shell & tube, plate & frame, air cooled, microchannel, and others. The materials of construction covered in the study include carbon steel, stainless steel, nickel, and others. On the basis of end-user industry, the market is classified into chemical, petrochemical, oil & gas, HVACR, food & beverage, power generation, and others.
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KEY BENEFITS FOR STAKEHOLDERS
? The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the India heat exchangers market from 2019 to 2026 to determine the prevailing opportunities.
? A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
? The market size is provided in terms of revenue.
? Porter's five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the heat exchanger industry for strategy building.
? The report provides extensive qualitative insights on the significant segments exhibiting favorable market growth
KEY MARKET SEGMENTS
> By Type
? Shell & Tube
? Plate & Frame
? Air-Cooled
? Microchannel
? Others
> By End-User Industry
? Chemical
? Petrochemical
? Oil & Gas
? HVACR
? Food & Beverage
? Power Generation
? Others?
> By Material of Construction
? Carbon Steel
? Stainless Steel
? Nickel
? Others
KEY MARKET PLAYERS
> Alfa Laval
> Danfoss
> Heatex Industries Limited
> HRS Process Systems Ltd.
> Kelvion Holding GmbH
> KGC Engineering Projects Pvt. Ltd.
> REX Heat Exchanger (REX)
> Radiant Heat Exchanger Pvt. Ltd.
> Tranter
> Universal Heat Exchangers Limited
The other players in the value chain of the market includes BGR Energy Systems Limited, Flowtex Engineers, Abacus Heat Transfer Limited, JC Equipments Pvt. Ltd., KGC Engineering Projects Private Ltd, Kinam Engineering Industries, Comp Air Treatment System P. LTD., Modern Heat Exchangers, and others.
