Greenfield projects help sustain market growth
15 January 2020
Emergence of greenfield projects in Asia-Pacific to help sustain long-term market growth, finds Frost & Sullivan.
While the US-China trade war and downturn in the oil and gas sector have dampened investments in the heat exchangers market, particularly in North America, the growth of the Asia-Pacific (APAC) market is providing a much-required impetus. Regional growth, along with positive economic activity and increased investments in the energy sector, is expected to drive the market from USD 13.67bn in 2018 to USD 17.33bn in 2024, at a compound annual growth rate (CAGR) of 4.0%.
Frost & Sullivan’s recent analysis, Global Heat Exchangers Market, Forecast to 2024, examines the key growth drivers, restraints, product segments, and end-user industries in the regions of North America, Europe, Middle East and Africa (EMEA), APAC, and the Rest of World (RoW). It covers the product segments of shell-and-tube heat exchangers, air-cooled heat exchangers, gasketed plate-and-frame heat exchangers, brazed plate heat exchangers, all-welded plate heat exchangers, and cooling tower systems. It also includes a CEO’s 360-degree perspective, highlights future growth opportunities, and presents the strategic imperatives that need to be implemented to make the most of these opportunities.