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Heat Exchanger Market Segmented On The Basis Of Product, End-Use, Region And Forecast 2030: Grand View Research Inc.
San Francisco, 6 Sep 2023: The Report Heat Exchanger Market Size, Share & Trends Analysis Report By Product (Plate & Frame (Brazed, Gasketed, Welded), Shell & Tube, Air Cooled), By End-use, By Region, And Segment Forecasts, 2023 â 2030 The global heat exchanger market size is expected to reach USD 26.26 billion by 2030, registering at a CAGR of 5.1%, according to a new report by Grand ViewâŚ
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#Heat Exchanger Industry#Heat Exchanger Market#Heat Exchanger Market 2030#Heat Exchanger Market Revenue#Heat Exchanger Market Share#Heat Exchanger Market Size
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Demand In The Power Generation Industry Driving Heat Exchanger Market Growth
The global heat exchanger market size is expected to reach USD 26.26 billion by 2030, according to a new report by Grand View Research, Inc. Rising demand from various industries, including chemical & petrochemical, and power generation, along with an increasing focus on improving efficiency standards in expected to drive the market at a CAGR of 5.1%.
The presence of favorable government regulations in the emerging economies of China, India, Brazil, and Mexico about setting up new manufacturing facilities is expected to spur the demand for heat exchangers in various industries. In addition, upcoming nuclear power projects, particularly in the Asia Pacific, are anticipated to drive market growth during the forecast period.
Gain deeper insights on the market and receive your free copy with TOC now @: Heat Exchanger Market Report
Technological advancements coupled with constant efforts and investments by major market participants in product innovation and research & development are expected to increase the market competitiveness over the coming years. The adoption of novel techniques of additive manufacturing in the production of heat exchangers is likely to complement industrial growth.
The COVID-19 pandemic has severely impacted several economies worldwide. Containment measures, including lockdowns imposed by various countries to curb the spread of COVID-19, have resulted in limiting the operations of manufacturing facilities, thereby negatively impacting the demand for heat exchangers in 2020.
#Heat Exchanger Market Size & Share#Global Heat Exchanger Market#Heat Exchanger Market Latest Trends#Heat Exchanger Market Growth Forecast#COVID-19 Impacts On Heat Exchanger Market#Heat Exchanger Market Revenue Value
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From Chester to Cattlewash
Meet George and Barbara Wilson â unofficial Canadian ambassadors to idyllic Barbados.
Written By Richard Perry
Nova Scotia natives George and Barbara Wilson have made 27 trips to Barbados.
Driving north on the Ermy Bourne Highway it was becoming harder to keep our eyes on the road. To our right, three thousand miles of uninterrupted Atlantic swells were breaking on the beach. To our left, the sloping green hills of eastern Barbados displayed lush vegetation and the swaying leaves of breadfruit and coconut trees.
But as we passed giant Round Rock (an Instagram favourite), we saw the smiling Barbara Wilson, waving from her lawn in front of the big green cottage she had told us to look for âjust across from the rock.â
Weâd arrived in Cattlewash, named years ago when farmers walked their cattle down to the beach so saltwater could provide some relief to fly bites. These days it is a tiny rural neighbourhood serving two ends of the age spectrum: retirees looking to get away from it all and hipster surfers from around the world who ride giant waves in international competitions.
âWelcome to Cattlewash. Come on in.â said George. âMay I offer you a drinkâŚrum punch perhaps?â
The Wilsons have lived in several Maritime communities during their careers, but now make their home in Chester, Nova Scotia.
George is a tall, boyishly handsome 84-year old, a former head of sales for Kraft/General Foods in Atlantic Canada. With his velvety smooth, measured voice he could pass for a diplomat, well-suited to moving in high circles.
Barbara, now 80, was a nurse and wound care specialist who trained at the Royal Victoria Hospital in Montreal. More than once sheâs had to treat friends on the island for everything from heat stroke to burns from a leaking gas stove.
Like her husband, Barbara has fallen in love with the Bajan people and their lifestyle.
âOn some level, we equate it to the openness and friendliness of Newfoundland, which we both love,â she said. In their sailing days, they cruised the southwest coast, visiting outports and making friends with locals who helped tie up their boat. One couple invited them to their wedding.
Weâd been tipped off about the Wilsons by fellow Nova Scotian John Cavill, a retired Air Canada public relations executive and a current representative for Barbados Tourism Marketing, Inc. In a country that relies heavily on tourism dollars and foreign exchange revenue, loyal repeat vacationers like the Wilsons are routinely feted at glitzy events hosted by the Prime Minister. This year marked their 27th trip to âLittle England.â
âAt our reception, two children in their school uniforms opened our car door,â said Barbara. âThey were so polite and engaging. Inside, we were met with steel pan drums and children singing Beautiful Barbados.â
Beautiful, beautiful Barbados Gem of the Caribbean Sea Come back to my island Barbados Come back to my island and me.
Please me come back where the night winds are blowing Come back to the surf and the sea Youâll find rest, youâll find peace in Barbados Come back to my island and me.
âWe shook hands with Prime Minister Stuart that night. I told him weâre from Nova Scotia, and that along with Newfoundland weâve always had a wonderful history of trade with Barbados. I said âWe always sent salt, fish and lumber. In return, you gave us rum and sugar. We got the better part of that deal!ââ
The Prime Minister of Cattlewash
Not five minutes into our hors dâoevres and rum punch, itâs clear why this Canadian couple has no trouble filling the cottage with guests. They are gracious hosts and love to share stories. Their friendships with Bajan neighbours and other vacationers have led to some creative hijinx.
âWe have had fun jokingly forming our own government at Cattlewash,â said George. âWe had a prime minister who was from Montreal, a Dr. Doug Kinnear who was the doctor for the Montreal Canadiens. He and his wife Katie have been down for about ten or fifteen years, living near us. So we had our âgovernmentâ meetings'. Barb, as a former nurse, was going to be minister of health. I was minister or tourism or something along those lines.
âUnfortunately, Doug died just last year. So last night at our party we held our glasses up to honour Prime Minister Doug Kinnear of Cattlewash. He was a colourful character. He always had stories about the Habs.â
Dr. Doug Kinnear, the Prime Minister of Cattlewash, treats Habs captain Bob Gainey. Photo credit: Globe and Mail
I found an obituary of their friend. He led the Canadiensâ medical team from 1962 to 1999. During that time, they won an impressive 12 Stanley Cups.
All roads lead to rum
Itâs said of Barbados that wherever you see a church, youâll find at least one rum shack nearby. We checked. Itâs true. There are said to be as many as 1,700 rum shacks â on an island only 21 miles long by 14 miles wide!
I was curious if our new friends were fans of the tried and true Bajan rum punch recipe of one part sour, two parts sweet, three parts strong and four parts weak. âActually, we leave out the weakâŚthe water or juice. Ice cubes are all you really need.â
Seated on their patio, with the ocean in full view and a noisy surf soundtrack, we got into some good stories. Like the time they showed up in the local church, the only whites in the congregation, and the pastor, Father Matthias, invited them to stand up and announce to the flock who they were and where they were from.
âWe gave our names and where weâre from in Canada,â said George. âIt was pretty quiet. I told them we came because of the warmth of the people, who are very special and then added that we also came for ⌠the Bajan macaroni pie. Thatâs when they got excited and broke into applause.â
An inauspicious welcome
George still recalls their first day in Barbados back in the late sixties. âIn all our excitement, in the darkness I rushed into the water and had no sooner stepped in when I told my friend Bill, a doctor, that I thought a shark had bitten my foot, the pain was that bad. I had stepped on sea urchins. I had 40 barbs in each foot. I spent two weeks with my feet in buckets trying to get them out.â
In Barbados, everything is close. At 432 square kilometres (166 square miles), the entire island covers roughly the same area as St. Johnâs, Newfoundland. One minute youâre facing the calmer waters on the west coast, where play is the order of the day. Pasty white tourists, mostly from the United Kingdom, Canada and the United States fill the beach chairs and restaurants.
The Wilsonsâ front yard view, where the Ermy Bourne Highway skirts the Atlantic Ocean in eastern Barbados.
But head a few miles inland and the landscape changes dramatically. The terrain rises through sugar cane fields, past roadside neighbourhoods (with ubiquitous rum shops) past an occasional long-abandoned windmill. When you climb Cherry Tree Hill facing the wild east coast, the view is stunning â one of those stop and stare moments. Itâs hard not to imagine the countryâs colonial past and these very fields where slaves worked unbearable days in oppressive heat.
Soon, the twisty, bumpy roads wind down toward sea level and the untamed east coast where the Wilsons have found their Shangri-La, where it is quiet and scenic â just the way they like it.
George and Barbara point to where they like to go for walks. Cattlewash has a beautiful one mile stretch of unbroken beach â said to be among the longest in Barbados.
âWeâve stayed in Sunset Crest in Holetown, and we like to visit,â said Barbara. âand weâve had a safari tour into places that are like jungles, so dense and gorgeous. But when we come over that hill and in view of the sea and feel the trade winds, ahhhâŚcoming down the hillâŚeverything falls off and it is so lovely seeing the sea.â
 -30-
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Fuel Cell Market 2030: Industry Analysis and Forecast by Type, Application and Region
The global fuel cell market size is expected to reach USD 36.98 billion by 2030, exhibiting a CAGR of 27.1% from 2024 to 2030, according to a new report published by Grand View Research, Inc. The rise in demand for unconventional energy sources is a key factor driving the growth. North America accounted for the largest market share in 2019 and is projected to continue leading over the forecast period, due to the commercialization and adoption of electric vehicles. However, Asia Pacific emerged as a growing market in terms of shipments. Rising demand for combined heat and power systems in is projected to drive the demand for fuel cell in the region.
Power-based electricity generation is effective in minimizing emission of carbon dioxide or any other hazardous pollutants. Hence, fuel cell technology plays a vital role in dealing with environmental issues as well as encouraging the use of renewable carriers of energy. Ongoing product developments and innovation is expected to open new opportunities for emerging players. Using fuel cells can minimize the dependency on non-renewable energy sources such as coal, natural gas, and petrochemical derivatives. Fuel cells employ electrochemical process for generation of energy and result in less combustion of fuels. Hybrid systems using conventional engines and fuel cells are deployed in most of electric vehicles.
Gather more insights about the market drivers, restrains and growth of the Global Fuel Cell Market
Fuel Cell Market Report Highlights
Proton exchange membrane fuel cell (PEMFC) accounted for more than 60.0% of the global market in terms of revenue in 2023. PEMFC is widely used in applications such as forklifts, automobiles, telecommunications, primary systems, and backup power systems.
Based on Components, the fuel cell market has been segmented into stack and balance of plant. In 2023, the stack segment accounted for the largest share of more than 60.0% in the global fuel cell market.
The hydrocarbon segment accounted for the largest share of over 90.0% in 2023, owing to extensive infrastructure for production, transportation, and storage of hydrocarbons is already in place, making them readily available and affordable.
On the basis of size, the fuel cell market is categorized into small-scale and large-scale. The large-scale holds a share of about 70.0% in 2023 of the global fuel cell market.
Stationary fuel cells dominated the global market in terms of revenue, accounting for a market share of more than 69.0% in 2023, owing to the increasing demand for fuel cells from distributed generation facilities and backup power applications.
Based on End-use, the fuel cell market has been segmented into transportation, commercial & Industrial, residential, data center, military & defense, and utilities & government.
Asia Pacific held a significant revenue share of more than 65% in 2023 and is expected to grow at the fastest CAGR over the forecast period.
Browse through Grand View Research's Power Generation & Storage Industry Research Reports.
Advanced Battery Market: The global advanced battery market size was valued at USD 78.8 billion in 2024 and is projected to grow at a CAGR of 10.5% from 2025 to 2030.
Air Electrode Battery Market: The global air electrode battery market size was valued at USD 1.51 billion in 2024 and is projected to grow at a CAGR of 11.2% from 2025 to 2030.
Fuel Cell Market Segmentation
Grand View Research has segmented the global fuel cell market report based on product, components, fuel, size, application, and end-use, and region:
Fuel Cell Product Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)
PEMFC
PAFC
SOFC
MCFC
AFC
Others
Fuel Cell Components Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)
Stack
Balance of Plant
Fuel Cell Fuel Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)
Hydrogen
Ammonia
Methanol
Ethanol
Hydrocarbon
Fuel Cell Size Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)
Small-scale
Large-scale
Fuel Cell Application Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)
Stationary
Transportation
Portable
Fuel Cell End-use Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)
Residential
Commercial & Industrial
Transportation
Data Centers
Military & Defense
Utilities & Government
Fuel Cell Regional Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)
North America
US
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Asia Pacific
China
Japan
South Korea
India
Taiwan
Australia
Central & South America
Brazil
Argentina
Middle East & Africa
Saudi Arabia
UAE
South Africa
Order a free sample PDF of the Fuel Cell Market Intelligence Study, published by Grand View Research.
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Fuel Cell Market 2030: Brief Analysis of Top Countries Data, Growth and Drivers
The global fuel cell market size is expected to reach USD 36.98 billion by 2030, exhibiting a CAGR of 27.1% from 2024 to 2030, according to a new report published by Grand View Research, Inc. The rise in demand for unconventional energy sources is a key factor driving the growth. North America accounted for the largest market share in 2019 and is projected to continue leading over the forecast period, due to the commercialization and adoption of electric vehicles. However, Asia Pacific emerged as a growing market in terms of shipments. Rising demand for combined heat and power systems in is projected to drive the demand for fuel cell in the region.
Power-based electricity generation is effective in minimizing emission of carbon dioxide or any other hazardous pollutants. Hence, fuel cell technology plays a vital role in dealing with environmental issues as well as encouraging the use of renewable carriers of energy. Ongoing product developments and innovation is expected to open new opportunities for emerging players. Using fuel cells can minimize the dependency on non-renewable energy sources such as coal, natural gas, and petrochemical derivatives. Fuel cells employ electrochemical process for generation of energy and result in less combustion of fuels. Hybrid systems using conventional engines and fuel cells are deployed in most of electric vehicles.
Gather more insights about the market drivers, restrains and growth of the Global Fuel Cell Market
Fuel Cell Market Report Highlights
Proton exchange membrane fuel cell (PEMFC) accounted for more than 60.0% of the global market in terms of revenue in 2023. PEMFC is widely used in applications such as forklifts, automobiles, telecommunications, primary systems, and backup power systems.
Based on Components, the fuel cell market has been segmented into stack and balance of plant. In 2023, the stack segment accounted for the largest share of more than 60.0% in the global fuel cell market.
The hydrocarbon segment accounted for the largest share of over 90.0% in 2023, owing to extensive infrastructure for production, transportation, and storage of hydrocarbons is already in place, making them readily available and affordable.
On the basis of size, the fuel cell market is categorized into small-scale and large-scale. The large-scale holds a share of about 70.0% in 2023 of the global fuel cell market.
Stationary fuel cells dominated the global market in terms of revenue, accounting for a market share of more than 69.0% in 2023, owing to the increasing demand for fuel cells from distributed generation facilities and backup power applications.
Based on End-use, the fuel cell market has been segmented into transportation, commercial & Industrial, residential, data center, military & defense, and utilities & government.
Asia Pacific held a significant revenue share of more than 65% in 2023 and is expected to grow at the fastest CAGR over the forecast period.
Browse through Grand View Research's Power Generation & Storage Industry Research Reports.
Advanced Battery Market: The global advanced battery market size was valued at USD 78.8 billion in 2024 and is projected to grow at a CAGR of 10.5% from 2025 to 2030.
Air Electrode Battery Market: The global air electrode battery market size was valued at USD 1.51 billion in 2024 and is projected to grow at a CAGR of 11.2% from 2025 to 2030.
Fuel Cell Market Segmentation
Grand View Research has segmented the global fuel cell market report based on product, components, fuel, size, application, and end-use, and region:
Fuel Cell Product Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)
PEMFC
PAFC
SOFC
MCFC
AFC
Others
Fuel Cell Components Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)
Stack
Balance of Plant
Fuel Cell Fuel Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)
Hydrogen
Ammonia
Methanol
Ethanol
Hydrocarbon
Fuel Cell Size Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)
Small-scale
Large-scale
Fuel Cell Application Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)
Stationary
Transportation
Portable
Fuel Cell End-use Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)
Residential
Commercial & Industrial
Transportation
Data Centers
Military & Defense
Utilities & Government
Fuel Cell Regional Outlook (Volume, Units; Capacity, MW, Revenue, USD Million, 2018 - 2030)
North America
US
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Asia Pacific
China
Japan
South Korea
India
Taiwan
Australia
Central & South America
Brazil
Argentina
Middle East & Africa
Saudi Arabia
UAE
South Africa
Order a free sample PDF of the Fuel Cell Market Intelligence Study, published by Grand View Research.
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Ethereum Holds Strong Despite Increasing Rivalry in Crypto Market
Key Points
Ethereum maintains its dominance in the crypto world despite high transaction fees.
Competitors like XRPL and Solana are challenging Ethereumâs position in the blockchain industry.
Despite the evolution of the crypto world, Ethereum continues to hold its relevance as the leading blockchain. It has managed to maintain its dominance even amidst criticisms of its high transaction fees.
While Ethereumâs supremacy is undisputed, emerging competitors such as the XRP Ledger (XRPL) and Solana are posing a significant challenge. These rising competitors are igniting a competitive race, altering the dynamics of blockchain innovation.
Onchain Metrics: Ethereum at the Forefront
Ethereumâs resilience is reflected in its impressive on-chain growth, even as it experiences periods of price volatility. Between September 13 and 19, Ethereum had a hard time keeping its price above the $3,200 mark. However, it excelled in crucial metrics like network activity, Total Value Locked (TVL), and fee generation.
In the past month, the blockchain registered a whopping $149.9 billion in on-chain volume. This significantly outpaced its nearest competitor, BNB Chain, which recorded just $26.6 billion. Ethereumâs growth rate of 37.7% further underlines its dominance, while BNB Chainâs activity has declined by 6%.
Ethereumâs transaction fees, averaging around $7.50, are often criticized as a hindrance for smaller retail users. The network addresses this issue with layer-2 solutions like Arbitrum, Optimism, and Base. These networks process transactions off the main blockchain, reducing fees while preserving Ethereumâs security and reliability.
These networks are crucial to the protocolâs ongoing success, reinforcing its position as the industryâs first blockchain. Despite operating separately, these layer-2 solutions remain closely connected to Ethereumâs mainnet for final validation. This ensures all transactions are secure and tamper-proof, keeping the network safe and decentralized.
Ethereumâs biggest challenge is scaling while maintaining decentralization and ecosystem integrity. The Ethereum 3.0 upgrade, with sharding and zkEVM, aims to address this, but full implementation is still years away. In the meantime, Ethereumâs network benefits from independent validators and staking, enhancing its decentralization and security. These features help it stay competitive against networks like Solana and BNB Chain.
The Blockchain Race Heats Up with XRPL and Solana
While the Ethereum blockchain continues to be a dominant force, competition is intensifying. The XRP Ledger (XRPL) recently made history by launching its Ethereum Virtual Machine (EVM) sidechain. This upgrade is set to enhance cross-chain compatibility and enable XRP minting and burning. The recent v4.0.0 upgrade also boosts scalability and overall appeal.
Meanwhile, the Solana blockchain has experienced significant growth, with its on-chain volume increasing by 83% last month. The networkâs Total Value Locked (TVL) is $8.3 billion, though it still falls behind ETHâs $59.4 billion. Solanaâs Decentralized Exchanges (DEXs) have also seen more user activity than Ethereumâs.
Despite Solanaâs rapid rise, ETH continues to generate substantial revenue from transaction fees, earning $163.7 million last month. This record is well ahead of Solanaâs $133.4 million. This solid revenue stream reinforces Ethereumâs dominance and its ability to attract institutional investors seeking a reliable and scalable blockchain.
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Heat Exchangers Market: Innovations and Key Players to Watch
The global heat exchangers market was valued at approximately USD 18.19 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2030. This growth is driven by an increasing focus on efficient thermal management across a wide range of industries, including oil & gas, power generation, chemical & petrochemical, food & beverage, and HVAC & refrigeration. As industries strive for greater energy efficiency, heat exchangers are becoming integral to optimizing thermal processes, reducing energy consumption, and enhancing overall operational effectiveness.
A significant driver of growth in the market is the rising demand from the chemical industry. The chemical sectorâs need for more efficient processes is leading to an increased focus on energy savings, improved heat transfer, and enhanced system efficiency, all of which are directly supported by the use of advanced heat exchangers. The petrochemical industry, in particular, often operates under conditions of high pressure and temperature, where the optimization of heat transfer is crucial to maintaining system performance and minimizing energy waste. These conditions create a strong demand for energy-efficient heat exchangers capable of handling such harsh environments while improving energy recovery and cost efficiency.
Additionally, technological advancements are playing a pivotal role in shaping the future of the heat exchangers market. For example, tube inserts have become a key innovation, improving the efficiency of heat exchangers by promoting better heat transfer. As the need for greater energy efficiency continues to grow, ongoing developments in heat exchanger design are addressing factors such as total lifecycle cost, compactness, durability, and overall energy performance. Manufacturers are constantly introducing new features that enhance energy savings, reduce environmental impact, and extend the operational lifespan of heat exchangers, which is expected to further drive the marketâs growth over the coming years.
Gather more insights about the market drivers, restrains and growth of the Heat Exchanger Market
Regional Insights
Europe
Europe led the global heat exchangers market, accounting for 31.7% of the total revenue share in 2023. This dominant position is primarily driven by increasing investments in both public and private infrastructure across the region. The demand for heat exchangers is notably strong in the HVAC & refrigeration industry, which benefits from the growing infrastructure development. As Europe continues to focus on energy efficiency and sustainability, the need for heat exchangers that offer greater durability, enhanced efficiency, and reduced fouling is expected to rise. These features are critical for improving operational performance and reducing maintenance costs, further boosting market growth in the region. Additionally, industries across Europe are emphasizing eco-friendly solutions, which is likely to continue driving the adoption of high-performance heat exchangers.
North America
In North America, the U.S. and Canada are experiencing a surge in oil and gas exploration activities, which is expected to significantly drive the demand for heat exchangers, particularly in industries requiring robust thermal management solutions. The oil and gas sector is a major consumer of heat exchangers, as these systems play a vital role in managing high-pressure and high-temperature processes in refineries and extraction plants. Furthermore, increasing energy demand across various industrial and commercial sectors is expected to propel the power and energy sectors in North America. As the region continues to modernize its energy infrastructure and diversify its energy sources, the demand for efficient heat exchange technologies will continue to grow, providing further momentum for the market.
Asia Pacific
Asia Pacific is expected to experience the fastest growth in the global heat exchangers market, with a projected CAGR of 6.8% from 2024 to 2030. The regionâs rapid industrialization is a key factor driving this expansion, particularly in emerging economies such as China and India. The growth of manufacturing, commercial, and industrial sectors is driving investments in various infrastructure projects, which in turn boosts the demand for heat exchangers. The region's expanding industrial base, along with increased demand for energy-efficient solutions, is expected to fuel the adoption of heat exchangers in industries such as power generation, chemical manufacturing, and HVAC systems.
China
China, as one of the largest economies in the Asia Pacific region, is expected to see significant growth in the heat exchangers market. The demand for heat exchangers in China is being driven by increasing investments in critical sectors such as chemical, petrochemical, and HVAC. With Chinaâs large and rapidly growing population, coupled with the governmentâs efforts to enhance infrastructure and modernize power generation capabilities, the demand for heat exchangers in the power generation and HVAC & refrigeration industries is expected to rise substantially. The governmentâs focus on industrial and technological development is likely to contribute to the sustained growth of the market in China, supporting the need for advanced heat exchanger systems to improve energy efficiency, reduce operational costs, and meet environmental goals.
Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.
⢠The global laser debonding equipment market size was estimated at USD 2,108.2 million in 2023 and is projected to grow at a CAGR of 6.4% from 2024 to 2030.
⢠The global geosynthetics market size was valued at USD 16.52 billion in 2024 and is projected to grow at a CAGR of 8.3% from 2025 to 2030.Â
Key Companies & Market Share Insights
The global heat exchangers market is highly competitive and is characterized by the presence of both multinational corporations and regional players. These companies are actively engaged in the design, manufacturing, and distribution of heat exchangers, with a focus on differentiating their products through innovation and enhanced performance. To gain a competitive edge, manufacturers are adopting a variety of growth strategies, including:
⢠New Product Development: Companies are continually innovating their product offerings to meet the evolving demands of industries. The development of energy-efficient, compact, and durable heat exchangers is key to staying ahead in the market.
⢠Diversification: Manufacturers are expanding their product portfolios to cater to various end-use industries, such as HVAC, oil & gas, chemical, and power generation. Diversification allows companies to tap into new markets and expand their customer base.
⢠Mergers & Acquisitions (M&A): Strategic M&A activities are helping companies strengthen their market presence, improve manufacturing capabilities, and enhance their technological expertise. Acquiring smaller players with niche technologies can also enable larger companies to expand their technological capabilities.
⢠Geographical Expansion: Expanding into emerging markets, especially in Asia Pacific and Latin America, is a key strategy for companies looking to capture a larger share of the market. As demand for heat exchangers grows in developing regions, companies are setting up production and distribution channels in these areas to improve market penetration.
Key Heat Exchangers Companies:
⢠Alfa Laval
⢠Danfoss
⢠Kelvion Holding GmbH
⢠Gßntner Group GmbH
⢠Xylem Inc
⢠API Heat Transfer
⢠Mersen
⢠Hisaka Works, Ltd.
⢠Chart Industries, Inc
⢠Johnson Controls International
⢠HRS Heat Exchangers
⢠SPX FLOW, Inc.
⢠Funke Wärmeaustauscher Apparantebau GmbH
⢠Koch Heat Transfer Company
⢠Southern Heat Exchanger Corporation
Order a free sample PDFÂ of the Heat Exchanger Market Intelligence Study, published by Grand View Research.
#Heat Exchangers Market#Heat Exchangers Market Analysis#Heat Exchangers Market Report#Heat Exchangers Market Regional Insights
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Corrosion Inhibitors Market 2027 Outlook, Regions, Size Estimation and Upcoming Trend
The global corrosion inhibitors market was valued at USD 7.4 billion in 2019 and is projected to grow at a compound annual growth rate (CAGR) of 3.8% from 2020 to 2027. This anticipated growth is primarily driven by advancements in biobased and eco-friendly corrosion inhibitors, which align with the market's shift toward sustainability. Such a shift is expected to foster increased acceptance of corrosion inhibitors among eco-conscious industries. Corrosion inhibitors work by forming a protective barrier on surfaces, preventing moisture a key factor in corrosion from reaching the underlying material.
The mechanisms through which organic corrosion inhibitors operate include interfacial activity, anodic and cathodic activity, barrier activity, and adsorption activity. In contrast, inorganic corrosion inhibitors function via mechanisms such as anodic and cathodic passivation, anion exchange, and saponification. Research and development have been crucial in advancing corrosion mitigation technologies, and innovation in this area has led to numerous product improvements, as manufacturers have heavily invested in R&D to enhance product performance.
However, in the U.S., the corrosion inhibitors market has been influenced by regulatory standards regarding product toxicity. While phosphate-based corrosion inhibitors are widely used in water systems, their application is regulated due to concerns regarding environmental and wastewater treatment impacts, as well as reactions with aluminum.
Gather more insights about the market drivers, restrains and growth of the Corrosion Inhibitors Market
Regional Insights:
Asia Pacific Corrosion Inhibitors Market Trends
In 2019, the Asia Pacific region dominated the global market with a 36.3% share and is expected to be one of the fastest-growing regions in the coming years. This growth is attributed to rapid industrialization, which has increased demand from power generation and various other industries. Developing economies in Asia, such as India and China, are also seeing rising demand in the chemical and metalworking sectors, which further supports market growth.
Europe Corrosion Inhibitors Market Trends
In Europe, the market for corrosion inhibitors is strong due to significant water consumption in industries like sugar, ethanol, and petrochemical production. Effective water treatment is essential to support corrosion control in Europe, helping to preserve the operational integrity of heat transfer systems and improve the energy efficiency of process units.
Browse through Grand View Research's Category Organic Chemicals Industry Research Reports.
The global mixed mode chromatography resin market size was estimated at USD 117.5 million in 2024 and is expected to grow at a CAGR of 12.3% from 2025 to 2030.
The global 2-ethylhexanol market was estimated at USD 6.50 billion in 2024 and is expected to grow at a CAGR of 2.8% from 2025 to 2030.
Key Companies & Market Share Insights
The market for corrosion inhibitors is highly fragmented, with a large number of companies competing to meet the high demand from end-users. Key industry players focus on customized production, leveraging advanced technologies and implementing strategic measures, such as long-term agreements and mergers, to expand their market presence and increase revenue. Many manufacturers have integrated their operations across the value chain to enhance efficiency. For example, Arkema has achieved backward integration by using renewable raw materials in its production processes, while The Lubrizol Corporation is forward integrated, using its corrosion inhibitors in the formulation of its fuel additives, such as PowerZol 9548A. Cortec Corporation produces a range of high-strength release components and coating products, utilizing its proprietary Migratory Corrosion Inhibitors (MCIs). Additionally, SUEZ supplies corrosion inhibitors for various water treatment projects, showcasing the diverse applications and market reach of these companies.
This competitive landscape is characterized by companies strategically positioning themselves through innovation, integration, and collaboration to meet the evolving needs of a growing market.
Key Corrosion Inhibitors Companies
Nouryon
Cortec Corporation
Ashland
Ecolab
Henkel IbĂŠrica, S.A.
The Lubrizol Company
BASF SE
Dow
DuPont de Nemours, Inc.
Baker Hughes, a GE company LLC
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Corrosion Inhibitors Industry Development Trends Report By 2027
The global corrosion inhibitors market was valued at USD 7.4 billion in 2019 and is projected to grow at a compound annual growth rate (CAGR) of 3.8% from 2020 to 2027. This anticipated growth is primarily driven by advancements in biobased and eco-friendly corrosion inhibitors, which align with the market's shift toward sustainability. Such a shift is expected to foster increased acceptance of corrosion inhibitors among eco-conscious industries. Corrosion inhibitors work by forming a protective barrier on surfaces, preventing moisture a key factor in corrosion from reaching the underlying material.
The mechanisms through which organic corrosion inhibitors operate include interfacial activity, anodic and cathodic activity, barrier activity, and adsorption activity. In contrast, inorganic corrosion inhibitors function via mechanisms such as anodic and cathodic passivation, anion exchange, and saponification. Research and development have been crucial in advancing corrosion mitigation technologies, and innovation in this area has led to numerous product improvements, as manufacturers have heavily invested in R&D to enhance product performance.
However, in the U.S., the corrosion inhibitors market has been influenced by regulatory standards regarding product toxicity. While phosphate-based corrosion inhibitors are widely used in water systems, their application is regulated due to concerns regarding environmental and wastewater treatment impacts, as well as reactions with aluminum.
Gather more insights about the market drivers, restrains and growth of the Corrosion Inhibitors Market
Regional Insights:
Asia Pacific Corrosion Inhibitors Market Trends
In 2019, the Asia Pacific region dominated the global market with a 36.3% share and is expected to be one of the fastest-growing regions in the coming years. This growth is attributed to rapid industrialization, which has increased demand from power generation and various other industries. Developing economies in Asia, such as India and China, are also seeing rising demand in the chemical and metalworking sectors, which further supports market growth.
Europe Corrosion Inhibitors Market Trends
In Europe, the market for corrosion inhibitors is strong due to significant water consumption in industries like sugar, ethanol, and petrochemical production. Effective water treatment is essential to support corrosion control in Europe, helping to preserve the operational integrity of heat transfer systems and improve the energy efficiency of process units.
Browse through Grand View Research's Category Organic Chemicals Industry Research Reports.
The global mixed mode chromatography resin market size was estimated at USD 117.5 million in 2024 and is expected to grow at a CAGR of 12.3% from 2025 to 2030.
The global 2-ethylhexanol market was estimated at USD 6.50 billion in 2024 and is expected to grow at a CAGR of 2.8% from 2025 to 2030.
Key Companies & Market Share Insights
The market for corrosion inhibitors is highly fragmented, with a large number of companies competing to meet the high demand from end-users. Key industry players focus on customized production, leveraging advanced technologies and implementing strategic measures, such as long-term agreements and mergers, to expand their market presence and increase revenue. Many manufacturers have integrated their operations across the value chain to enhance efficiency. For example, Arkema has achieved backward integration by using renewable raw materials in its production processes, while The Lubrizol Corporation is forward integrated, using its corrosion inhibitors in the formulation of its fuel additives, such as PowerZol 9548A. Cortec Corporation produces a range of high-strength release components and coating products, utilizing its proprietary Migratory Corrosion Inhibitors (MCIs). Additionally, SUEZ supplies corrosion inhibitors for various water treatment projects, showcasing the diverse applications and market reach of these companies.
This competitive landscape is characterized by companies strategically positioning themselves through innovation, integration, and collaboration to meet the evolving needs of a growing market.
Key Corrosion Inhibitors Companies
Nouryon
Cortec Corporation
Ashland
Ecolab
Henkel IbĂŠrica, S.A.
The Lubrizol Company
BASF SE
Dow
DuPont de Nemours, Inc.
Baker Hughes, a GE company LLC
Order a free sample PDFÂ of the Corrosion Inhibitors Market Intelligence Study, published by Grand View Research.
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Steel MarketâââForecast(2024â2030)
Steel MarketâââOverview
Steel Market Report Coverage
For More
The report: âSteel IndustryâââForecast (2024â2030)â, by IndustryARC covers an in-depth analysis of the following segments of the Steel Market Report.
By Type: Carbon Steel, (Low Carbon Steel, Medium Carbon Steel, High Carbon Steel), Stainless Steel (Austenitic Stainless Steels, Ferritic Stainless Steels, Martensitic Stainless Steels, Precipitation Hardening Grade Stainless Steels, Duplex Stainless Steels), Alloy Steel (Chromium Molybdenum Steel, Nickel-Chromium-Molybdenum Steel, Chromium Vanadium Steel, HSLA -Nickel-Chromium-Molybdenum Steel), Tool Steel (Water-hardening tool steels, Shock-resisting tool steels, Cold-work tool steels, Hot-work steels, High-speed tool steels, Others), Others
By Form: Bar, Rod, Tube, Pipe, Plate, Sheet, Structural, Others
By Application: Transportation (Road, Bridges, Barriers, Rail, Tracks, Rail Cars), Construction (Cool Metal (infrared reflecting) Roofing, Purlins, Beams, Pipe, Recyclable steel framing (studs), Desks/Furniture), Packaging (Canes, Bottles, Others), Water Projects (Levees/Dams/Locks), Energy (Renewable, Nuclear, Bio-fuels, Fossil, Electric Grid), Others
By Industry: Construction (Steel Skeletons, Concrete Walls, Pillars, Nails, Bolts, Screws, Others), Machinery (Bulldozers, Backhoe Leaders, Pipelayers, Others), Automotive and Transportation (Exhaust, Trim/Decorative, Engine, Chassis, Fasteners, Tubing For Fuel Lines), Kitchenware and Domestic Appliances (Small Household Appliances, Black Home Appliances, White Home Appliances), Electrical and Electronics (Motor Mount Brackets, Adapter Plates, Electronic Frames and Chassis, Brackets, Others), Healthcare (Orthopaedic Implants, Artificial Heart Valves, Bone Fixation, Catheters, Others), Energy (Scrubbers, Heat Exchangers, Others)
By Region: North America, South America, Europe, Asia-Pacific and Rest of the World
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Key Takeaways
⢠The Asia-Pacific region, particularly China, has been a dominant force in the global steel market with a share of 63% in 2023, owing to Chinaâs rapid industrialization and urbanization have driven substantial demand for steel in the construction, infrastructure, and manufacturing sectors.
⢠Government infrastructure spending, particularly in major economies, plays a significant role in driving steel demand. Large-scale infrastructure projects, such as bridges, railways, and urban development initiatives, can create substantial demand for steel products.
For More Details on This ReportâââRequest for Sample
Steel Market Segment AnalysisâââBy Type
In terms of type, the Steel Market is segmented into carbon steel, stainless steel, alloy steel, tool steel and others. In 2023, the Stainless-steel segment generated the greatest revenue of $361.94 billion and is projected to reach a revenue of $482.28 billion by 2030. Owing to the various benefits posed by stainless steel such as corrosion resistance, high and low temperature resistance, the ease of fabrication, strength, aesthetic appeal is one of the key factors for its adoption among various end-use industries, which in turn is boosting its market growth. The stainless-steel segment can be further classified as Austenitic stainless steels, Ferritic stainless steels, Martensitic stainless steels, Precipitation hardening grade stainless steel and Duplex stainless steels.
Steel Market Segment AnalysisâââBy Form
By form, the steel market is segmented into bar, rod, tube, pipe, plate, sheet, structural and others. The bar segment accounted for the major market share in 2023, with a revenue of $554.58 billion, and is forecast to grow at a CAGR of 4.68% by 2030. The increasing demand for steel bar from various end-user industries such as building and construction, bridges, and many others, are driving the growth of the segment during the forecast period of 2024â2030.
Steel Market Segment AnalysisâââBy Application
Steel Market is segmented by its application that includes transportation, construction, packaging, water projects, energy and others. The energy segment held the dominant market share, 31% of the whole market, in 2023, and is expected to maintain its dominance by 2030 with a CAGR of 4.69%. One of the major factors for the segment growth is the increasing awareness and focus towards renewable energy sources. Steel plays a crucial role in producing and distributing energy as well as improving energy efficiency. Renewable energy is further classified as Wind Towers and Foundation, Wind Turbines and Solar Parabolic Mirror Supports & Collectors.
Steel Market Segment AnalysisâââBy Industry
The Steel finds its application across the industries such as construction, machinery, automotive and transportation, kitchenware and domestic appliance, electrical and electronics, healthcare, energy and others. Among them, the construction segment is the largest consumer of steel, as bearable structures can be manufactured easily at a low cost. The property of steel in its various forms and alloys makes it more flexible to cater the exclusive projects integrated with infrastructure. Moreover, the rapid industrialization and urbanization in various developing countries are fueling the segment growth in strengthening its dominant market position during the forecast period.
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Steel Market Segment AnalysisâââBy Geography/Country
The report comprises of the region wise study of the global market including North America, South America, Europe, Asia-Pacific and Rest of the World. Above all, Asia-Pacific region held the biggest share in 2023, up to 63% of the whole steel market owing to the rapidly expanding defense, machinery, automotive, and shipbuilding industries in the countries such as India, China, South Korea, and Japan. Foreign direct investment in energy and infrastructure is likely to provide opportunities for the market vendors. Coupled with favorable government regulations, growing infrastructure and construction activities in developing economies of the Asia-Pacific region are boosting the demand for the market.
Steel MarketâââDrivers
Growing Demand for Steel Across the Various Regions
Several factors have a significant impact on the overall development of the steel market. The major growth factor driving the Steel Market is the growing demand for steel across a variety of developing regions. For instance, Global crude steel production in January-November 2023 reached 1715.12 million metric tons, marking a marginal 0.5% year-on-year growth, per provisional data from the World Steel Association. November 2023 saw a production of 145.5 million metric tons, up by 3.3% from the previous year. China led the production with 952.14 million metric tons, followed by India and Japan, USA, Russia, South Korea, and Germany.
Construction and Infrastructure Development:
Construction activities, including residential, commercial, and infrastructure projects such as roads, bridges, and railways, are major drivers of steel demand. Urbanization and industrialization also contribute to the growth of the construction sector, thereby increasing the demand for steel products. For instance, as per Green Finance & Development Center, China Belt and Road Initiative (BRI) Investment Report 2023, engagement totalled about USD88.3 billion, with USD44.6 billion from investment and USD43.7 billion from construction contracts. Also, The US Department of Transportation allocates $3.2 billion in extra funding, alongside $4.3 billion from the Bipartisan Infrastructure Law for 2023. The Budget prioritizes $4.5 billion for the Capital Investment Grant program, aiming to bolster transit infrastructure for economic growth. As a result, the steel market is anticipated to thrive, propelled by heightened construction activities and the need for durable materials, reflecting a promising outlook for the industry.
Steel Market -Challenges
Environmental Regulations and Sustainability
The steel industry is facing mounting pressure to tackle environmental issues by cutting carbon emissions and enhancing sustainability efforts. Meeting stringent environmental regulations demands substantial investments in technology and infrastructure, presenting a formidable challenge for many companies. Despite the financial hurdles, embracing these changes can pave the way for a more sustainable and eco-friendly future for the industry.
Steel MarketâââCompetitive Landscape
The companies referred in the study include Baosteel Co., Ltd., Posco Holding Inc, Nippon Steel Corporation, JFE Holdings, Tata Steel Limited, United States Steel Corporation, Anshan Iron and Steel Group Corporation, Hyundai Steel Co., Ltd., ThyssenKrupp AG, ArcelorMittal S.A., among others. Technology launches, acquisitions, and R&D activities are key strategies adopted by the key players in the Steel Market.
Steel MarketâââRecent Developments
November 2022, Tata Steel launched the fourth edition of MaterialNEXT, focusing on âMaterials to Wonder.â This open innovation event aims to gather ideas on emerging materials and their applications. The program spans five months across Idea Selection, Development, and Evaluation stages, fostering collaboration among scientists, researchers, and startups.
May 2022, Kobe Steel introduced âKobenable Steel,â Japanâs pioneering low CO2 blast furnace steel, aiming to curtail emissions during ironmaking. Utilizing innovative CO2 Reduction Solution technology, it plans to roll out the product this fiscal year, marking a milestone in sustainable steel production.
In June 2023, Nippon Steel introduces ZEXEED⢠Checkered Sheet, a new addition to its high corrosion resistant coated steel series
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Top Upcoming IPOs to Watch in 2024: Latest Grey Market Premium Updates
Top Upcoming IPOs to Watch in 2024: Latest Grey Market Premium Updates
As we venture into 2024, the IPO market is brimming with anticipation. For investors, this year promises a wealth of opportunities, with several high-profile companies preparing to go public. Whether you're a seasoned investor or just beginning to dip your toes into the market, staying informed about upcoming IPOs and their Grey Market Premiums (GMP) is crucial for making sound investment decisions.
In this blog, we'll explore some of the top upcoming IPOs to watch in 2024 and provide insights into their GMP trends. These metrics can offer valuable clues about investor sentiment and the potential success of these public offerings.
KRN Heat Exchanger IPO
IPO Details:
IPO Date: September 25â27, 2024
Industry: Engineering & Manufacturing
Price Band: âš202-âš220 per share
GMP (as of last update): âš225
Why Itâs Worth Watching: KRN Heat Exchanger has gained a strong market position by offering innovative and sustainable solutions in the industrial engineering sector. The companyâs consistent financial performance and recent expansion into advanced heat exchange technologies have made this IPO one to watch. With a Grey Market Premium (GMP) of âš225, there is a strong indicator of investor confidence, suggesting a significant oversubscription is likely.
Investor Tip: As the GMP remains high, keep track of any fluctuations that could provide insight into investor sentiment before the listing date. Strong market interest could result in a profitable listing.
Manba Finance IPO
IPO Details:
Expected IPO Date: September 23â25, 2024
Industry: Financial Services
Price Band: âš114-âš120 per share
GMP (as of last update): âš60
Why Itâs Worth Watching: Manba Finance has established itself as a leader in consumer and vehicle financing, with a growing portfolio and expanding client base. The companyâs robust revenue growth in 2024 and a strong return on equity (ROE) make this IPO attractive to investors. With a current GMP of âš60, Manba Finance is poised for moderate listing gains, appealing to both retail and institutional investors.
Investor Tip: Monitor any significant changes in the GMP and consider how this IPO fits within broader market trends in the financial sector. Given its stable growth and strong fundamentals, this IPO could offer long-term returns.
TechEra Engineering IPO
IPO Details:
Expected IPO Date: September 25â27, 2024
Industry: Aerospace & Defense Manufacturing
Price Band: âš75-âš82 per share
GMP (as of last update): âš10
Why Itâs Worth Watching: TechEra Engineering has carved out a niche in the aerospace and defense sectors, with its cutting-edge manufacturing processes. The company has shown impressive growth, with revenue jumping from âš26.59 crore in 2023 to âš39.08 crore in 2024. Although the current GMP is a modest âš10, the companyâs long-term prospects and growing order book in the defense sector make it a worthwhile investment for those looking at long-term gains.
Investor Tip: TechEraâs focus on high-precision components and increasing global market share could yield substantial future growth. While the short-term gains may be limited, this IPO could offer strong potential for long-term investors.
Understanding Grey Market Premium (GMP) and Its Importance
Grey Market Premium (GMP) is an indicator of the premium at which IPO shares are being traded in the unofficial market before they are listed on the stock exchanges. A high GMP typically signals strong investor interest and the likelihood of the IPO being oversubscribed, potentially leading to higher listing gains.
How to Use GMP in Your Investment Strategy:
Gauging Demand: A rising GMP often indicates increasing demand for the IPO shares, which could translate into a successful listing.
Risk Assessment: While a high GMP can be a positive sign, itâs important to consider the overall market conditions and the companyâs fundamentals before investing.
Timing Your Investment: Monitoring GMP trends can help you decide whether to invest in the IPO or wait until the shares are listed and trading begins on the exchange.
Final Thoughts
2024 is shaping up to be an exciting year for IPOs, with several companies poised to make a significant impact on the market. By keeping track of upcoming IPOs and their Grey Market Premiums, you can better navigate the investment landscape and identify opportunities for potential gains.
As always, while GMP can offer valuable insights, it should be just one of many factors considered when making investment decisions. Thorough research and a clear understanding of your financial goals will help you make the most of the opportunities that 2024 has to offer.
Stay tuned to our platform for the latest updates on upcoming IPOs and GMP trends. Whether youâre looking to capitalize on short-term gains or seeking long-term investment opportunities, staying informed is key to success in the dynamic world of IPO investing.
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Heat Exchangers Market 2024: Industry Analysis and Opportunity Assessment, Forecast to 2030
Heat Exchangers Industry Overview
The global heat exchangers market size was estimated at USD 18.19 billion in 2023 and is expected to expand at a compounded annual growth rate (CAGR) of 5.4% from 2024 to 2030.Â
Rising focus on efficient thermal management in various industries, including oil & gas, power generation, chemical & petrochemical, food & beverage, and HVAC & refrigeration, is expected to drive the demand for heat exchangers over the forecast period. Rising demand from chemical industry coupled with increasing technological advancements and a growing focus on improving efficiency standards is expected to drive heat exchangers market growth. Most processes in petrochemical facilities involve high pressure and temperature, thus, necessitating the optimization of heat transfer and enhancement of energy savings, which, in turn, is likely to boost the demand for energy-efficient heat exchangers.
Gather more insights about the market drivers, restrains and growth of the Heat Exchangers Market
U.S. dominated the North America heat exchanger market in 2023, owing to high electricity demand, industrialization, and investments in renewable power generation. Rising investments by oil & gas companies in exploration & production activities in the U.S. are expected to boost the demand for these products in oil & gas industry.
Significant power markets such as China, U.S., India, Russia, and Japan are restructuring their operating models to adopt the structure of renewable energy and efficient utilization of energy by installing heat exchangers and shifting from traditional energy use. This is expected to drive the demand for heat exchangers.
Technological advancements such as tube inserts in heat exchangers are expected to complement the market growth. Furthermore, ongoing technological improvements to improve energy efficiency, total life cycle cost, durability, and compactness of heat exchangers are expected to drive industry growth.
Manufacturers of these products face a long list of difficult supply chain challenges, including increasing demand variability, intense global competition, more environmental compliance regulations, increasing human- and nature-based risks, and inventory proliferation. COVID-19 pandemic has created new challenges, which are compelling manufacturers to innovate their supply chains at a faster speed.
Heat Exchangers Market Segmentation
Grand View Research has segmented the global heat exchangers market report based on product, end-use, material and region:
Product Outlook (Revenue, USD Billion, 2018 - 2030)
Plate & Frame Heat Exchanger
Brazed Plate & Frame Heat Exchanger
Gasketed Plate & Frame Heat Exchanger
Welded Plate & Frame Heat Exchanger
Others
Shell & Tube Heat Exchanger
Air-Cooled Heat Exchanger
Others
End-use Outlook (Revenue, USD Billion, 2018 - 2030)
Chemical & Petrochemical
Oil & Gas
HVAC & Refrigeration
Power GenerationFood & Beverage
Pulp & Paper
Others
Material Outlook (Revenue, USD Billion, 2018 - 2030)
Metals
Alloys
Others
Regional Outlook (Revenue, USD Billion, 2018 - 2030)
North America
US
Canada
Mexico
Europe
Germany
France
Italy
Spain
UK
Asia Pacific
China
Japan
India
South Korea
Australia
Central & South America
Brazil
Argentina
Middle East & Africa
Saudi Arabia
UAE
South Africa
Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.
The global wood plastic composites market size was estimated at USD 7.15 billion in 2023 and is expected to grow at a CAGR of 11.6% from 2024 to 2030.
The global industrial fasteners market size was estimated at USD 95.57 billion in 2023 and is expected to grow at a CAGR of 4.7% from 2024 to 2030.
Key Companies & Market Share Insights
Global heat exchangers industry is characterized by presence of multinational as well as regional players that are engaged in designing, manufacturing, and distributing these products. Product manufacturers strive to obtain a competitive edge over their competitors by increasing application scope of their products.
Strategies adopted by manufacturers include new product development, diversification, mergers & acquisitions, and geographical expansion. These strategies aid the companies in expanding their market penetration and catering to changing technological demand across various end-use industries.
Key Heat Exchangers Companies:
Alfa Laval
Danfoss
Kelvion Holding GmbH
GĂźntner Group GmbH
Xylem Inc
API Heat Transfer
Mersen
Hisaka Works, Ltd.
Chart Industries, Inc
Johnson Controls International
HRS Heat Exchangers
SPX FLOW, Inc.
Funke Wärmeaustauscher Apparantebau GmbH
Koch Heat Transfer Company
Southern Heat Exchanger Corporation
Recent Developments:
For instance, in April 2023, Kelvion launched dedicated air cooler series for natural refrigerants. The CDF & CDH ranges are dual discharge air coolers highlighting a similar proficient tube system.
In May 2023, Alfa Laval is enhancing its brazed plate heat exchanger capacity to bolster the global energy transition. The establishment of new facilities in Italy, China, Sweden, and the U.S. signifies significant progress in their initiative to advance manufacturing intelligence and efficiency throughout the entire supply chain.
In January 2021, Alfa Laval, opened a new facility for the production of brazed heat exchangers in San Bonifacio, Italy. The new facility will have more capacity to fulfill the increasing customer demand.
Order a free sample PDF of the Heat Exchanger Market Intelligence Study, published by Grand View Research.
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Tunnel Automation Market Will Archive Significant Growth in the Coming Years
The tunnel automation market is expected to reach huge revenue, which will advance at a significant CAGR in the coming years. Strict government regulations, the rise in the demand for improved road security and safety solutions due to an increase in traffic accidents, increase in the incorporation of tunnel automation with cutting-edge technologies like cloud storage and the IoT, a mixture of analytics in tunnel management, and increase in the count of tunnel projects globally are the main drivers of market growth.
Modern technologies including IoT, data analytics, and cloud computing are being connected with tunnel automation systems, giving clients a significant advantage over manual administration techniques. With the use of these technologies, data can be exchanged and moved among communication systems and other gadgets like thermostats, lighting, and sensors systems. Through data analysis and automation system control, the data gathered from these devices are used to increase the efficiency of the tunnels.
Moreover, globally, there is a serious problem with road safety. Consumers are consequently growing increasingly worried about road safety globally, which has led to governments investing in cutting-edge technology like tunnel automation to improve surveillance, security, lighting, air conditioning, ventilation, and other services. The tunnel automation systems market is anticipated to be driven by this.
In terms of component share, the HVAC category holds the biggest one in the tunnel automation market, which will continue to grow at the fastest rate throughout the forecast period. HVAC automated systems can give considerably easier solutions, and since ventilation inside tunnels is crucial and its human operation can be expensive, they are growing in popularity globally.
Furthermore, as tunnels have little access to natural ventilation, it is legally required to install ventilation and air conditioning systems in tunnels. As a result, HVAC components are frequently employed in tunnel ventilation and heat exchange systems.
Europe dominates the tunnel automation market, which is predicted that it would continue to do so in the near future. This is related to the region's established transportation sector, rising demand for public transit, the presence of numerous mountain ranges, and increased consumer awareness of the need to boost rail and road safety.
According to the type of tunnel, the tunnel automation market is divided into two categories: railway tunnels and highway and roadway tunnels. Moreover, the railway tunnels category, out of the two, has a larger market share. The railway transportation system's upgrading is the main factor influencing the market in this sector. The demand for railway tunnel automation systems has also increased as more railway and subway tunnels are being built.
Hence, the demand for tunnel automation systems will grow in the coming years due to the need to improve roads and tunnels.
#Tunnel Automation Market Share#Tunnel Automation Market Size#Tunnel Automation Market Growth#Tunnel Automation Market Applications#Tunnel Automation Market Trends
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Residential Ventilator Market Size, Global Industry Trend Analysis and Forecast 2024-2030
Global Info Research announces the release of the report âGlobal Residential Ventilator Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030â . The report is a detailed and comprehensive analysis presented by region and country, type and application. As the market is constantly changing, the report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2024, are provided. In addition, the report provides key insights about market drivers, restraints, opportunities, new product launches or approvals, COVID-19 and Russia-Ukraine War Influence.
According to our (Global Info Research) latest study, the global Residential Ventilator market size was valued at USD million in 2023 and is forecast to a readjusted size of USD million by 2030 with a CAGR of % during review period.
Residential ventilation is the process of exchanging stale indoor with outdoor air to keep the home comfortable. Especially with the outbreak of the COVID-19, some countries pay more attention to the ventilation of the room. Some areas even require forced ventilation, such as Japan. Residential Ventilator is the equipment that provides fresh air to the home, usually with two fans and two duct systems. Fresh air supply and vents can be installed in each room. The most effective ventilation systems include a heat-recovery ventilator (HRV) or energy-recovery ventilator (ERV)-similar appliances that transfer heat (but not air) between a ventilation system's exhaust and supply air streams. In Thailand market, key players of residential ventilator include Panasonic, Carrier, Johnson Controls and Daikin Industries.
Panasonic is the largest manufacturers of residential ventilator in the Thailand, which has a share about 54%. In terms of product, bidirectional flow with heat recovery is the largest segment, with a share about 53%. And in terms of application, the largest application is multifamily, which has a share about 89 percent. The Global Info Research report includes an overview of the development of the Residential Ventilator industry chain, the market status of Single Family (One-way Flow Exhaust Air, One-way Flow Return Air), Multifamily (One-way Flow Exhaust Air, One-way Flow Return Air), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Residential Ventilator.
Regionally, the report analyzes the Residential Ventilator markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global Residential Ventilator market, with robust domestic demand, supportive policies, and a strong manufacturing base. Key Features:
Global Residential Ventilator market size and forecasts, in consumption value), sales quantity, and average selling prices, 2019-2029
Global Residential Ventilator market size and forecasts by region and country, in consumption value, sales quantity, and average selling prices, 2019-2029
Global Residential Ventilator market size and forecasts, by Type and by Application, in consumption value, sales quantity, and average selling prices, 2019-2029
Global Residential Ventilator market shares of main players, shipments in revenue, sales quantity, and ASP, 2019-2024
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for Residential Ventilator
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global Residential Ventilator market based on the following parameters - company overview, production, value, price, gross margin, product portfolio, geographical presence, and key developments.
The report involves analyzing the market at a macro level: Market Sizing and Segmentation: Report collect data on the overall market size, including the sales quantity (K Units), revenue generated, and market share of different by Type:     One-way Flow Exhaust Air     One-way Flow Return Air     Bidirectional Flow without Heat Recovery     Bidirectional Flow with Heat Recovery Industry Analysis: Report analyse the broader industry trends, such as government policies and regulations, technological advancements, consumer preferences, and market dynamics. This analysis helps in understanding the key drivers and challenges influencing the Residential Ventilator market. Regional Analysis: The report involves examining the Residential Ventilator market at a regional or national level. Report analyses regional factors such as government incentives, infrastructure development, economic conditions, and consumer behaviour to identify variations and opportunities within different markets. Market Projections: Report covers the gathered data and analysis to make future projections and forecasts for the Residential Ventilator market. This may include estimating market growth rates, predicting market demand, and identifying emerging trends. The report also involves a more granular approach to Residential Ventilator: Company Analysis: Report covers individual Residential Ventilator manufacturers, suppliers, and other relevant industry players. This analysis includes studying their financial performance, market positioning, product portfolios, partnerships, and strategies. Consumer Analysis: Report covers data on consumer behaviour, preferences, and attitudes towards Residential Ventilator This may involve surveys, interviews, and analysis of consumer reviews and feedback from different by Application:     Single Family     Multifamily
Technology Analysis: Report covers specific technologies relevant to Residential Ventilator. It assesses the current state, advancements, and potential future developments in Residential Ventilator areas. Competitive Landscape: By analyzing individual companies, suppliers, and consumers, the report present insights into the competitive landscape of the Residential Ventilator market. This analysis helps understand market share, competitive advantages, and potential areas for differentiation among industry players. Market Validation: The report involves validating findings and projections through primary research, such as surveys, interviews, and focus groups.
The Main Contents of the Report, includes a total of 15 chapters:
Chapter 1, to describe Optical Tweezers (Mechanobiology Equipment) product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Optical Tweezers (Mechanobiology Equipment), with price, sales, revenue and global market share of Optical Tweezers (Mechanobiology Equipment) from 2019 to 2024.
Chapter 3, the Optical Tweezers (Mechanobiology Equipment) competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Optical Tweezers (Mechanobiology Equipment) breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2019 to 2030.
Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2019 to 2030.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2023.and Optical Tweezers (Mechanobiology Equipment) market forecast, by regions, type and application, with sales and revenue, from 2025 to 2030.
Chapter 12, market dynamics, drivers, restraints, trends and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of Optical Tweezers (Mechanobiology Equipment).
Chapter 14 and 15, to describe Optical Tweezers (Mechanobiology Equipment) sales channel, distributors, customers, research findings and conclusion.
The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the Residential Ventilator market covers the following areas:
Residential Ventilator market sizing
Residential Ventilator market forecast
Residential Ventilator market industry analysis
Analyze the needs of the global Residential Ventilatorbusiness market
Answer the market level of global Residential Ventilator
Statistics the annual growth of the global Residential Ventilatorproduction market
The main producers of the global Residential Ventilatorproduction market
Describe the growth factor that promotes market demand
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Industrial Insulation Industry Growth Prospect, Distributor Analysis & Applications Insights 2030
The global industrial insulation market reached a valuation of USD 8.21 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 5.0% from 2023 to 2030. This growth is driven by increasing demand for insulation in industrial applications, as it enhances process efficiency, helps control condensation, reduces noise levels, offers freeze protection, and lowers environmental pollution. Additionally, there is rising awareness regarding the benefits of insulation in industrial applications, especially in North America, where industries are increasingly recognizing the cost-saving advantages that come with improved insulation. However, the market experienced a significant downturn in industrial investments during the COVID-19 pandemic, which impacted demand. Furthermore, the steep decline in crude oil prices reduced fiscal resources for oil-producing nations, which, in turn, affected demand for industrial insulation products within the oil and gas sector.
In the United States, the demand for industrial insulation is expected to increase, especially in applications involving machinery, boilers, pipes, storage tanks, and linings for heat exchangers, cooling towers, and ventilation and air conditioning systems. The U.S. market outlook is favorable, partly due to a peak in private industrial investments observed in 2018. With a growing GDP, the industrial sector in the U.S. is projected to expand significantly, bolstering demand for insulation products.
Gather more insights about the market drivers, restrains and growth of the Industrial Insulation Market
In the insulation market, the primary buyers are medium to large-scale companies that prioritize product quality and insulation effectiveness over price sensitivity. This has led to increased adoption of advanced, specialized insulation materials, such as aerogel and perlite, particularly in industries that require superior insulation performance. These niche, high-performance products are expected to see steady demand growth as industries increasingly seek materials that provide better thermal protection and energy efficiency.
The industrial insulation market is characterized by high entry barriers due to the presence of a substantial number of established players and the capital-intensive nature of the market. Entering and sustaining in this market requires significant time, planning, and resources. For new entrants, achieving economies of scale remains crucial, which can serve as a deterrent to those seeking to penetrate this highly competitive space.
Application Segmentation Insights:
The LPG (Liquefied Petroleum Gas) and LNG (Liquefied Natural Gas) sectors led the market, accounting for approximately 20.70% of revenue share in 2022. This demand is expected to continue over the forecast period, driven by the high risks associated with the transportation and storage of LPG and LNG products, which necessitate robust insulation solutions. Proper insulation in the pipes and transportation infrastructure of the LNG and LPG industries is critical, as it ensures safe transport and storage, which supports ongoing demand for industrial insulation products in these sectors.
In the power generation industry, there is a growing need for industrial insulation to minimize power losses, reflecting heightened global concerns around energy management. Insulation products play a vital role in the efficient operation of power generation facilities, and as such, this industry is expected to contribute significantly to the growth of the industrial insulation market in the coming years.
The petrochemical and refineries sector is expected to experience substantial growth, with a projected CAGR of 4.8% over the forecast period. The oil and gas industry operates with high-volume production of crude oil and natural gas, which leads to sustained demand for effective insulation solutions to maintain operational efficiency and safety standards.
The EIP (Energy-Intensive Processes) industries, which manufacture a diverse array of products, require insulation to conserve thermal energy efficiently. Furthermore, the manufacturing sector's growth, along with stringent regulatory standards from bodies like the European Commission, is expected to propel the demand for insulation products in the forecast period. Compliance with such regulations is essential in maintaining energy efficiency and reducing emissions, driving further investment in advanced insulation solutions across industrial applications.
Order a free sample PDFÂ of the Industrial Insulation Market Intelligence Study, published by Grand View Research.
#Industrial Insulation Industry#Industrial Insulation Market Research#Industrial Insulation Market Forecast
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Industrial Insulation Market 2030 Forecast, Future Outlook, Share, Trends, Application
The global industrial insulation market reached a valuation of USD 8.21 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 5.0% from 2023 to 2030. This growth is driven by increasing demand for insulation in industrial applications, as it enhances process efficiency, helps control condensation, reduces noise levels, offers freeze protection, and lowers environmental pollution. Additionally, there is rising awareness regarding the benefits of insulation in industrial applications, especially in North America, where industries are increasingly recognizing the cost-saving advantages that come with improved insulation. However, the market experienced a significant downturn in industrial investments during the COVID-19 pandemic, which impacted demand. Furthermore, the steep decline in crude oil prices reduced fiscal resources for oil-producing nations, which, in turn, affected demand for industrial insulation products within the oil and gas sector.
In the United States, the demand for industrial insulation is expected to increase, especially in applications involving machinery, boilers, pipes, storage tanks, and linings for heat exchangers, cooling towers, and ventilation and air conditioning systems. The U.S. market outlook is favorable, partly due to a peak in private industrial investments observed in 2018. With a growing GDP, the industrial sector in the U.S. is projected to expand significantly, bolstering demand for insulation products.
Gather more insights about the market drivers, restrains and growth of the Industrial Insulation Market
In the insulation market, the primary buyers are medium to large-scale companies that prioritize product quality and insulation effectiveness over price sensitivity. This has led to increased adoption of advanced, specialized insulation materials, such as aerogel and perlite, particularly in industries that require superior insulation performance. These niche, high-performance products are expected to see steady demand growth as industries increasingly seek materials that provide better thermal protection and energy efficiency.
The industrial insulation market is characterized by high entry barriers due to the presence of a substantial number of established players and the capital-intensive nature of the market. Entering and sustaining in this market requires significant time, planning, and resources. For new entrants, achieving economies of scale remains crucial, which can serve as a deterrent to those seeking to penetrate this highly competitive space.
Application Segmentation Insights:
The LPG (Liquefied Petroleum Gas) and LNG (Liquefied Natural Gas) sectors led the market, accounting for approximately 20.70% of revenue share in 2022. This demand is expected to continue over the forecast period, driven by the high risks associated with the transportation and storage of LPG and LNG products, which necessitate robust insulation solutions. Proper insulation in the pipes and transportation infrastructure of the LNG and LPG industries is critical, as it ensures safe transport and storage, which supports ongoing demand for industrial insulation products in these sectors.
In the power generation industry, there is a growing need for industrial insulation to minimize power losses, reflecting heightened global concerns around energy management. Insulation products play a vital role in the efficient operation of power generation facilities, and as such, this industry is expected to contribute significantly to the growth of the industrial insulation market in the coming years.
The petrochemical and refineries sector is expected to experience substantial growth, with a projected CAGR of 4.8% over the forecast period. The oil and gas industry operates with high-volume production of crude oil and natural gas, which leads to sustained demand for effective insulation solutions to maintain operational efficiency and safety standards.
The EIP (Energy-Intensive Processes) industries, which manufacture a diverse array of products, require insulation to conserve thermal energy efficiently. Furthermore, the manufacturing sector's growth, along with stringent regulatory standards from bodies like the European Commission, is expected to propel the demand for insulation products in the forecast period. Compliance with such regulations is essential in maintaining energy efficiency and reducing emissions, driving further investment in advanced insulation solutions across industrial applications.
Order a free sample PDFÂ of the Industrial Insulation Market Intelligence Study, published by Grand View Research.
#Industrial Insulation Industry#Industrial Insulation Market Research#Industrial Insulation Market Forecast
0 notes