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India Heat Exchangers Market by Type, Material of Construction, and End-user Industry: India Opportunity Analysis and Industry Forecast, 2019-2026

  • ID: 4845540
  • Report
  • Region: India
  • 93 pages
  • Allied Analytics LLP
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FEATURED COMPANIES

  • Alfa Laval
  • Danfoss
  • Heatex Industries Limited
  • HRS Process Systems Ltd.
  • Kelvion Holding GmbH
  • REX Heat Exchanger (REX)
  • MORE
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.

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.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Alfa Laval
  • Danfoss
  • Heatex Industries Limited
  • HRS Process Systems Ltd.
  • Kelvion Holding GmbH
  • REX Heat Exchanger (REX)
  • MORE
Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits For Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Secondary Research
1.4.2. Primary Research
1.5. Analyst Tools And Models

Chapter 2: Executive Summary
2.1. Key Findings of The Study
2.2. Cxo Perspective

Chapter 3: Market Overview
3.1. Market Definition And Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.2.2. Porter’S Five Forces Analysis
3.3. Top Player Positioning, 2018
3.4. Market Dynamics
3.4.1. Drivers
3.4.1.1. Favorable Government Initiatives For The Growth of Chemical Industry
3.4.1.2. Rise In Demand For Heat Exchangers From Food Industry
3.4.2. Restraint
3.4.2.1. Corrosion And Fouling Concerns Associated With Heat Exchangers
3.4.3. Opportunity
3.4.3.1. Rise In Investment In Oil & Gas Sector
3.5. Competitive Scenario In The Market
3.6. Value Chain Analysis
3.6.1. List of Key Manufacturers
3.6.2. List of Key Distributors

Chapter 4: India Heat Exchangers Market, By Type
4.1. Overview
4.1.1. Market Size And Forecast
4.2. Shell & Tube
4.2.1. Key Market Trends, Growth Factors And Opportunities
4.3. Plate & Frame
4.3.1. Key Market Trends, Growth Factors And Opportunities
4.4. Air-Cooled
4.4.1. Key Market Trends, Growth Factors And Opportunities
4.5. Microchannel
4.5.1. Key Market Trends, Growth Factors And Opportunities
4.6. Others
4.6.1. Key Market Trends, Growth Factors And Opportunities

Chapter 5: India Heat Exchangers Market, By End-User Industry
5.1. Overview
5.1.1. Market Size And Forecast
5.2. Chemical
5.2.1. Key Market Trends, Growth Factors And Opportunities
5.3. Petrochemical
5.3.1. Key Market Trends, Growth Factors And Opportunities
5.4. Oil & Gas
5.4.1. Key Market Trends, Growth Factors And Opportunities
5.5. HVACR
5.5.1. Key Market Trends, Growth Factors And Opportunities
5.6. Food & Beverage
5.6.1. Key Market Trends, Growth Factors And Opportunities
5.7. Power Generation
5.7.1. Key Market Trends, Growth Factors And Opportunities
5.8. Others
5.8.1. Key Market Trends, Growth Factors And Opportunities

Chapter 6: India Heat Exchangers Market, By Material of Construction
6.1. Overview
6.1.1. Market Size And Forecast
6.2. Carbon Steel
6.2.1. Key Market Trends, Growth Factors And Opportunities
6.3. Stainless Steel
6.3.1. Key Market Trends, Growth Factors And Opportunities
6.4. Nickel
6.4.1. Key Market Trends, Growth Factors And Opportunities
6.5. Others
6.5.1. Key Market Trends, Growth Factors And Opportunities

Chapter 7: Company Profiles
7.1. Alfa Laval
7.1.1. Company Overview
7.1.2. Company Snapshot
7.1.3. Operating Business Segments
7.1.4. Product Portfolio
7.1.5. Business Performance
7.2. Danfoss
7.2.1. Company Overview
7.2.2. Company Snapshot
7.2.3. Operating Business Segments
7.2.4. Product Portfolio
7.2.5. Business Performance
7.3. Heatex Industries Limited
7.3.1. Company Overview
7.3.2. Company Snapshot
7.3.3. Product Portfolio
7.4. Hrs Process Systems Ltd.
7.4.1. Company Overview
7.4.2. Company Snapshot
7.4.3. Product Portfolio
7.5. Kelvion Holding Gmbh
7.5.1. Company Overview
7.5.2. Company Snapshot
7.5.3. Product Portfolio
7.5.4. Key Strategic Moves And Developments
7.6. Kgc Engineering Projects Pvt. Ltd.
7.6.1. Company Overview
7.6.2. Company Snapshot
7.6.3. Product Portfolio
7.7. Rex Heat Exchanger
7.7.1. Company Overview
7.7.2. Company Snapshot
7.7.3. Product Portfolio
7.8. Radiant Heat Exchanger Pvt. Ltd.
7.8.1. Company Overview
7.8.2. Company Snapshot
7.8.3. Product Portfolio
7.9. Tranter
7.9.1. Company Overview
7.9.2. Company Snapshot
7.9.3. Product Portfolio
7.10. Universal Heat Exchangers Limited
7.10.1. Company Overview
7.10.2. Company Snapshot
7.10.3. Product Portfolio

*Full List of Tables and Figures Available on Enquiry.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Alfa Laval
  • Danfoss
  • Heatex Industries Limited
  • HRS Process Systems Ltd.
  • Kelvion Holding GmbH
  • REX Heat Exchanger (REX)
  • MORE
According to the report titled, 'India Heat Exchangers Market by Type, Material of Construction, and End-User Industry: Opportunity Analysis and Industry Forecast, 2019-2026,' the India heat exchangers market accounted for revenue of $454.4 million in 2018, and is anticipated to generate $890.0 million by 2026. The market is projected to grow at a CAGR of 8.6% from 2019 to 2026.

Heat exchangers are devices that transfer energy between fluids at two different temperatures. Generally, the fluids are separated by a wall, which can be termed as indirect contact.

The growth of the India heat exchangers market is significantly driven by rapid industrialization that results in high adoption of process plant equipment, which correspondingly increases the demand for heat exchangers. For instance, the food & beverage industry is growing at a noteworthy pace in India, which is the second largest producer of food after China. Heat exchangers play an important role in the food industry, as they used for the production of fruit pulp, food paste, juices, hazel nut pastes, yogurts, and others. Furthermore, many industries in India have adopted high-end energy-saving heat exchangers to mitigate the issue of their loss, owing to rise in the cost of energy, which significantly drives the growth of the market. On the contrary, rise in need for heat exchangers in nuclear power plants for power generation is anticipated to offer lucrative growth opportunities for market expansion.

The India heat exchangers market is segmented based on type, material of construction, and end-user industry. On the basis of type, the market is categorized into shell & tube, plate & frame, air cooled, microchannel, and others. By material of construction, it is fragmented into carbon steel, stainless steel, nickel, and others. As per end-user industry, it is classified into chemical, petrochemical, oil & gas, HVACR, food & beverage, power generation, and others. India heat exchangers market share has been analyzed across all segments.

Based on type, the shell & tube segment occupied the highest share of 33.2% in 2018, and is anticipated to continue its dominance throughout the analysis period. This is attributed to the fact that shells & tubes are adopted in numerous end-user industries for applications such as waste heat recovery, condensing, and others.

Chemical is the largest end-user industry, and is anticipated to garner a share of 25.9% in the India heat exchangers market. In 2015, the Government of India launched a draft “National Chemical Policy.” The aim of this policy is to increase the share of the chemical sector in the country’s GDP. Thus, increase in such initiatives by the Government of India boosts the adoption of process equipment such as heat exchangers, reactors, pressure vessels, and others in the chemical sector, which in turn has significantly contributed toward the growth of the heat exchanger market.

On the basis of material of construction, stainless steel accounted for the highest share of 34.6% in 2018. This is attributable to the fact that stainless steel-based heat exchangers are adopted for long run applications, owing to their characteristics such as erosion resistance at high flow rates of fluid, no requirement of special fluids, and enhanced compatibility with plain water.

The market analysis covers in-depth information of major industry participants, which include 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, and Universal Heat Exchangers Limited.

Other players in the value chain are 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., and Modern Heat Exchangers.

Key Findings of the India Heat Exchangers Market:

Based on type, the shell & tube segment is expected to gain dominant share 33.2%
Based on end-user industry, oil & gas is expected to experience rapid growth with a rate of 9.2%
Based on the material of construction, carbon steel heat exchangers is projected to grow at the highest CAGR of nearly 8.9%, in terms of revenue, during the forecast period.
A comprehensive analysis of the factors that drive and restrain the heat exchangers market growth is provided
An extensive analysis of various government policies provides insights that are expected to allow companies to strategically plan their business moves
The qualitative data in this report aims at the market dynamics, India heat exchangers market trends,
The developments in the India heat exchanger industry are also studied
The quantitative data provides the India heat exchangers market size in terms of revenue
Note: Product cover images may vary from those shown
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  • 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.
Note: Product cover images may vary from those shown
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The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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