In a recent published report, Kenneth Research has updated the market report for Heat Exchangers Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Heat Exchangers Market products.
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Kenneth Research, in its repository of market research reports, have recently added a report on Heat Exchangers Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2021 2030. The Heat Exchangers Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017. Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
With the growing industrial expansions occurring in developing economies such as in the Asia Pacific region as well as the surging energy prices, the market is expected to grow. Other factors that are aiding the growth of the market includes the growing demand for nuclear power generation. Factors such as the lack of awareness surrounding energy efficiency are restraining the growth of the market.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Heat Exchangers Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Heat Exchangers Market Competitive Landscape
The “Global Heat Exchangers Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Alfa Laval, Johnson Controls International, Kelvion Holdings, Danfoss, SPX Corporation and Godrej & Boyce Manufacturing, Hindustan Dorr-Oliver, Hisaka Works, Xylem, API Heat Transfer and Guntner. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
Global Heat Exchangers Market, By Type
>> Shell & Tube Heat Exchangers
>> Plate & Frame Heat Exchangers
>> Air Cooled Heat Exchangers
Global Heat Exchangers Market, By Application
>> Petrochemical and Oil & Gas
>> Food & Beverage
>> Power Generation
Global Heat Exchangers Market Geographic Scope
>> North America
o Rest of Europe
>> Asia Pacific
o Rest of Asia Pacific
>> Latin America
>> Rest of the World
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>> Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
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