Heat Exchanger Market Size, Segments and Growth by 2030

The heat exchanger market size is projected to reach US$ 39.11 billion by 2030 from US$ 20.65 billion in 2022. The market is expected to register a CAGR of 8.3% during 2022–2030. The increasing adoption of plate heat exchangers is likely to remain a key trend in the market.

A heat exchanger is a device that is generally used for heating or cooling elements, depending on the customer’s needs; it is primarily employed in various processes and discrete industries. The industry uses heat exchangers for cooling to prevent overheating of critical machinery or flammable materials.

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