Latin America Heat Exchanger Market 2024

Market Overview

The heat exchanger industry in Latin America is anticipated to achieve USD 545 million by 2029, reflecting a low CAGR of 3.8% from 2024 to 2029. Latin America is experiencing an increase in government investments in countries such as Mexico, Chile, Argentina, and Brazil aimed at improving existing power-generation infrastructure. Brazil, in particular, dominates the automotive heat exchanger market as it ranks among the top five car markets globally and serves as a major base of operations for many automakers.

The Latin America heat exchanger market is segmented by product type, including cooling tower, air-cooled, shell & tube, gasketed plate, and others, for their respective time periods. In 2023, the cooling tower segment emerged as the dominant player in the market, holding a substantial share of 27.0%. The valuation of the cooling tower segment in 2023 was USD 123 million, and it is projected to reach USD 144 million by 2029. On the other hand, the “others” segment, which includes fully-welded plate heat exchangers, brazed plate heat exchangers, and other types, is expected to exhibit the highest Compound Annual Growth Rate (CAGR) during the forecast period from 2024 to 2029.

The Latin America heat exchanger market can be further categorized in terms of revenue by various end-use industries, including oil & gas, petrochemical, food & beverage, electricity generation, HVACR, and others (mineral, water treatment, data center, shipbuilding, pharmaceuticals, paper, engineering, etc.), for the respective periods. Among these segments, the oil & gas industry holds the largest share in the Latin America heat exchanger market. It is expected that this segment will continue to grow and reach a valuation of USD 165 million by 2029, representing a CAGR of 3.5% from 2024 to 2029.

Brazil emerged as the largest country in terms of market share in the Latin America heat exchanger market in 2023. The prominent players operating in the Latin America heat exchanger market include Alfa Laval AB, Argenfrio S.A.I.C., Baltimore Aircoil Company, Kelvion Holding GmbH, Reymsa Cooling Towers, Inc., SPX Flow, 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: Brazil and Rest of Latin America.

Table of Contents

TABLE OF CONTENTS
TABLE OF CONTENTS 1
FIGURES AND TABLES 3
Part 1. Key Findings 4
Part 2. Scope and Methodology 5
Report Scope 6
Product Type 6
End-User 6
Region 6
Research Methodology 7
Part 3. Heat Exchanger Market Overview 9
Summary 9
Introduction 11
Part 4. Market Dynamics 13
Growth Drivers and Future Trends 13
Restraints and Challenges 22
Opportunities 27
Pricing Forecast 32
Part 5. Latin America Heat Exchanger Market by Product Type 34
Part 6. Latin America Heat Exchanger Market by End-User 38
Oil & Gas 39
Petrochemical 40
Food & Beverage 42
Electricity Generation 43
HVACR (Heat, Ventilation, Air Conditioning, and Refrigeration) 44
Others 45
Part 7. Latin America 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
Kelvion Holding GmbH 59
Business Overview 59
Contact Information 59
SPX Flow, Inc. 60
Business Overview 60
Contact Information 60
Baltimore Aircoil Company 61
Business Overview 61
Contact Information 61
Other Companies 62
Disclaimer 63
FIGURES AND TABLES
Latin America Heat Exchanger Market, Net Growth, 2020-2029 (USD Million)
Latin America Heat Exchanger Market by Product Type, 2020-2029 (USD Million)
Latin America Heat Exchanger Market by Product Type, CAGR Historic and Forecast, 2020-2029
Latin America Heat Exchanger Market by End-User, 2020-2029 (USD Million)
Latin America Heat Exchanger Market by End-User, CAGR Historic and Forecast, 2020-2029
Latin America 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)