Overview:

The global air-cooled heat exchangers market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Air-cooled heat exchanger (ACHE) is the device that avoids heat from a fluid directly to ambient air. This is in contrast to rejecting heat to water and then rejecting it to air, as with a shell and tube heat exchanger and a wet cooling tower system.

Market Dynamics:

The growing industrialization among emerging economies across the globe is a major factor driving growth of the global air-cooled heat exchangers market. Air-cooled heat exchangers also known as fin fan heat exchangers, are often used in applications where water is in short supply. The benefits of air-cooled heat exchangers in terms of environmental safety are driving the market for air-cooled heat exchangers.

Air-cooled heat exchangers offer excellent cooling of the air which eliminates the fouling and corrosion problems associated with cooling water, and there is no possibility of leakage and mixing of water with the process fluid. Thus, maintenance cost is generally lower for air-cooled exchangers as compared to other type of heat exchangers.

Additionally, concerns about climate change and global warming are rising across the globe. In order to control the increasing global temperature, governments in the developed as well as emerging economies are encouraging all the local and leading companies to follow environment friendly practices. This has resulted into the increased adoption of environment friendly air-cooled heat exchangers in the industrial applications globally. Also, companies may use ACHEs in this situation and earn government subsidies as a result.

Key Trends:

Increasing focus on various business strategies to get competitive edge among key manufacturers is a key trend witnessed in the global air-cooled heat exchangers market. For instance, in December 2020, Chart Industries acquired Sustainable Energy Solutions, Inc. (SES). Integrating Cryogenic Carbon Capture of SES with company’s brazed aluminum heat exchangers, air-cooled heat exchangers, IPSMR refrigeration/liquefaction system, transport equipment and cryogenic storage will create complete solution. Thus, the acquisition is expected to fulfill the demand for integrated technology and equipment.

Regional Analysis:

For detailed understanding of market dynamics, the global air-cooled heat exchangers market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Europe is accounted for major market share in the global market in 2020, followed by the market in Asia Pacific region. The early adoption of heat exchangers among industries in the countries such as Germany, the UK, France, and Italy is a major factor supporting Europe market growth.

Additionally, growing industrialization and rising number of SME’s in countries such as China and India is fueling growth of the target market in Asia Pacific region. The North America and Middle East Africa regions are expected to witness significant growth during the forecast period.

Scope of the Report:

Detailed Segmentation:

Global Air-cooled Heat Exchangers Market, By Type:

• Forced Draft
• Induced Draft

Global Air-cooled Heat Exchangers Market, By Material:

• Carbon Steel
• Stainless Steel
• Other Material

Global Air-cooled Heat Exchangers Market, By End Use:

• Industrial
• Refinery & Petrochemical
• Power Stations

Key Players Covered:

Key players operating in the global air-cooled heat exchangers market includes, Alfa Laval Corporate AB, Paharpur Cooling Towers Ltd., AXH air-coolers, Chart Industries, Inc., SPX Corporation, Kelvion Holding GmbH, Guntner US LLC, Hamon Group, Danfoss A/S, and API Heat Transfer Inc.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Air-cooled Heat Exchangers Market by type, material, end use, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2019 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global air-cooled heat exchangers market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.