Heat Exchanger Market worth $32.3 billion by 2029, at a CAGR of 7.0%, says MarketsandMarkets™

The Global Heat Exchanger Market size is estimated to be USD 23.0 billion in 2024 and projected to reach USD 32.3 billion by 2029, at a CAGR of 7.0%, between 2024 and 2029, as per the recent study by MarketsandMarkets™. The heat exchangers market has witnessed significant technological advancements driven by the growing emphasis on energy recovery, cost reduction, and environmental sustainability. Heat exchangers play a crucial role in HVACR systems, contributing significantly to energy conservation and reduction of energy bills. The demand for low-maintenance, durable heat exchangers with unique designs and high heat transfer rates is witnessing substantial growth due to the increasing demand for energy-efficient HVACR products. Thus, the surge in demand for HVACR systems is propelling the heat exchanger market forward.