Europe Heat Exchanger Market 2024

Market Overview

Europe heat exchanger market grew at a CAGR of 4.0% from 2020 to 2023, according to Tanalyze, the market size in terms of revenue was USD 4,851 million in 2023. European companies are embracing heat exchangers as a means to mitigate the threat of global warming, creating lucrative opportunities in the market. The growing demand for centralized heating systems in the commercial and residential sectors further contributes to the industry’s significant growth.

The heat exchanger market can be categorized into five product types, namely cooling tower, air-cooled, shell & tube, gasketed plate, and others. The others segment is anticipated to attain a remarkable growth rate of 6.6% over the forecast period from 2024 to 2029, ultimately reaching a revenue of USD 1,181 million by 2029.

Europe heat exchanger industry can be categorized into six major segments in terms of fields of end-user: oil & gas, petrochemical, food & beverage, electricity generation, HVACR (heat, ventilation, air conditioning, and refrigeration), and others (mineral, water treatment, data center, shipbuilding, pharmaceuticals, paper, engineering, etc.). Among the above segments, food & beverage is expected to be the fastest-growing one according to Tanalyze. The size of Europe food & beverage market in terms of revenue is estimated to grow to USD 691 million in 2029, with a CAGR of 5.9%.

In 2023, the Europe heat exchanger market was dominated by four countries: Germany, Italy, France, and the United Kingdom. These countries collectively held a significant share of 58.1% in the market.

The prominent players operating in the Europe heat exchanger market include Alfa Laval AB, Astra Refrigeranti S.p.A., Balcke-Dürr GmbH, Baltimore Aircoil Company, Boyd Corporation, Danfoss A/S, Graham Corporation, Guentner GmbH & Co KG, HRS Heat Exchangers Limited, Johnson Controls International plc, Kelvion Holding GmbH, Paul Mueller Co., Spirax-Sarco Engineering plc, SPX Flow, Inc., SWEP International AB, Tranter, Inc., Vahterus Oy, WCR, Inc., Xylem, Inc., and others.

This study aims to analyze the global market for various segments of heat exchanger, including:
Product Type: Cooling Tower, Air-Cooled, Shell & Tube, Gasketed Plate, and Others.
End-User: Oil & Gas, Petrochemical, Food & Beverage, Electricity Generation, HVACR (Heat, Ventilation, Air Conditioning, and Refrigeration), and Others (Mineral, Water Treatment, Data Center, Shipbuilding, Pharmaceuticals, Paper, Engineering, etc.).
Region: Germany, France, UK, Italy, and Rest of Europe.

Table of Contents

TABLE OF CONTENTS
TABLE OF CONTENTS 1
FIGURES AND TABLES 4
Part 1. Key Findings 5
Part 2. Scope and Methodology 6
Report Scope 7
Product Type 7
End-User 7
Region 7
Research Methodology 8
Part 3. Heat Exchanger Market Overview 10
Summary 10
Introduction 12
Part 4. Market Dynamics 14
Growth Drivers and Future Trends 14
Restraints and Challenges 21
Opportunities 26
Pricing Forecast 31
Part 5. Europe Heat Exchanger Market by Product Type 33
Part 6. Europe Heat Exchanger Market by End-User 37
Oil & Gas 38
Petrochemical 39
Food & Beverage 41
Electricity Generation 42
HVACR (Heat, Ventilation, Air Conditioning, and Refrigeration) 44
Others 45
Part 7. Europe Heat Exchanger Market by Country 53
Part 8. Competitive Analysis 54
Competition Overview 54
Alfa Laval AB 55
Business Overview 55
Heat Transfer 57
Contact Information 58
Baltimore Aircoil Company 59
Business Overview 59
Contact Information 59
Boyd Corporation 60
Business Overview 60
Contact Information 60
Danfoss A/S 61
Business Overview 61
Contact Information 63
Graham Corporation 64
Business Overview 64
Contact Information 66
Johnson Controls International plc 67
Business Overview 67
Contact Information 69
Kelvion Holding GmbH 70
Business Overview 70
Contact Information 70
SPX Flow, Inc. 71
Business Overview 71
Contact Information 71
Xylem, Inc. 72
Business Overview 72
Contact Information 76
Other Companies 77
Disclaimer 78
FIGURES AND TABLES
Europe Heat Exchanger Market, Net Growth, 2020-2029 (USD Million)
Europe Heat Exchanger Market by Product Type, 2020-2029 (USD Million)
Europe Heat Exchanger Market by Product Type, CAGR Historic and Forecast, 2020-2029
Europe Heat Exchanger Market by End-User, 2020-2029 (USD Million)
Europe Heat Exchanger Market by End-User, CAGR Historic and Forecast, 2020-2029
Europe Heat Exchanger Market Share by Country, 2023
Alfa Laval AB Financial Overview (SEK Million)
Alfa Laval AB Revenue, by Segment, 2022
Alfa Laval AB Revenue, by Product/Service, 2022
Alfa Laval AB Revenue, by Region, 2022
Alfa Laval AB Heat Transfer Revenue (SEK Million)
Danfoss A/S Financial Overview (EUR Million)
Danfoss A/S Revenue, by Segment, 2022
Danfoss A/S Revenue, by Region, 2022
Graham Corporation Financial Overview (USD Million)
Graham Corporation Revenue, by Segment, 2023
Graham Corporation Revenue, by Region, 2023
Johnson Controls International plc Financial Overview (USD Million)
Johnson Controls International plc Revenue, by Type, 2021
Johnson Controls International plc Revenue, by Segment, 2021
Johnson Controls International plc Revenue, by Region, 2021
Xylem, Inc. Pumps, Accessories, Parts and Service Revenue (USD Million)
Xylem, Inc. Financial Overview (USD Million)
Xylem, Inc. Revenue, by Segment, 2022
Xylem, Inc. Revenue, by Type, 2022
Xylem, Inc. Revenue, by Region, 2022