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市場調查報告書
商品編碼
1938495

熱交換器市場 - 全球產業規模、佔有率、趨勢、機會及預測（按產品類型、材料、最終用戶、地區和競爭格局分類），2021-2031年

Heat Exchanger Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product Type, By Material, By End-User, By Region & Competition, 2021-2031F
出版日期: | 出版商: TechSci Research | 英文 186 Pages | 商品交期: 2-3個工作天內

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簡介目錄

全球熱交換器市場預計將從 2025 年的 265.8 億美元成長到 2031 年的 390.5 億美元，年複合成長率為 6.62%。

熱交換器作為一種工程化的傳熱系統，旨在實現不同溫度流體之間的熱交換，是重工業應用中溫度控管的關鍵組成部分。推動熱交換器市場成長要素之一是全球嚴格執行能源效率法規，這些法規強制要求工業設施安裝廢熱回收系統。此外，開發中國家的快速都市化持續推動暖通空調系統和化學機械的需求，進而也帶動了對先進溫度控管裝置的需求。

市場概覽
預測期 2027-2031
市場規模：2025年 265.8億美元
市場規模：2031年 390.5億美元
複合年成長率：2026-2031年 6.62%
成長最快的細分市場 暖通空調
最大的市場 北美洲

近期工業生產統計數據凸顯了下游產業的強勁需求。根據日本冷凍空調工業協會預測，到2024年，全球空調需求量（其中熱交換器是核心零件）預計將達到1.316億台。儘管市場指標向好，但該行業仍面臨一項重大挑戰：原物料價格波動，尤其是鋁和銅的價格波動。這種波動為製造成本帶來了不確定性，並使長期供應合約的談判變得更加複雜。

市場促進因素

暖通空調冷氣系統需求的成長是推動市場發展的關鍵因素，其驅動力主要來自於暖氣電氣化以及商業和住宅領域老舊基礎設施的更新換代。熱交換器在這些系統中至關重要，尤其對於空氣源熱泵而言，由於全球脫碳目標的推進，空氣源熱泵正迅速普及。此外，日益嚴格的能源效率標準也迫使製造商採用先進的熱交換錶面以降低能耗。這種由銷量驅動的成長在近期的出貨量數據中得到了充分體現。根據美國空調冷凍協會（AHRI）於2024年10月發布的“2024年8月月度出貨量數據”，截至目前，美國空氣源熱泵和中央空調的累計出貨量已達到約674萬台。

同時，全球石化和化學加工產能的擴張也催生了對高性能溫度控管設備的巨大需求。工業運營商持續投資於板式和殼管式熱交換器，這些熱交換器旨在承受重工業中常見的腐蝕性流體和極端壓力。這些工業資本投資為製造商帶來了大量的訂單積壓。例如，阿法拉伐公司於2024年3月發布的2023年度報告指出，其能源產業的訂單訂單204億瑞典克朗。主要企業的財務表現也進一步支撐了市場的健康發展。例如，莫迪恩製造公司公佈2024年淨銷售額創下24億美元的歷史新高。

市場挑戰

原物料價格波動，尤其是鋁和銅的價格波動，對全球熱交換器市場的成長構成重大阻礙。由於這些金屬是熱交換器所需導熱性能的關鍵，製造商對投入成本的波動高度敏感。當原料價格出現不可預測的波動時，生產商難以維持穩定的價格結構，而穩定價格結構對於確保大規模工業合約至關重要。這種波動迫使製造商在承擔成本上漲和利潤率下降之間做出選擇，或將成本轉嫁給客戶。在後一種情況下，預算限制往往會導致計劃延期甚至取消。

關鍵工業區需求趨勢的變化進一步加劇了這種不確定性，並給供應鏈帶來了額外的壓力。根據美國鋁業協會統計，2024年上半年北美鋁需求年增5.2%。原物料消費的這種波動導致價格不穩定，並使製造商難以準確預測成本。因此，由於無法可靠地預測未來的生產成本，企業難以簽訂長期供應協議，而這些協議對於持續的市場擴張至關重要。

市場趨勢

積層製造 (AM) 技術的快速普及正在革新熱交換器市場，它能夠生產出以往透過鑄造或機械加工無法實現的複雜拓撲最佳化形狀。這項技術可以製造複雜的晶格結構和薄壁，從而顯著減輕重量並提高表面積與體積比——這對於國防和航太等對性能要求極高的行業至關重要。隨著專業公司獲得拓展業務所需的資金，這項新興製造技術的商業性可行性正日益凸顯。例如，根據 2024 年 10 月發表在《3D 列印產業》雜誌上的一篇題為「Conflux，開發革命性 3D 列印熱交換器，完成 B 輪資金籌措1,100 萬美元」的報導，Conflux Technology 已籌集 1,100 萬美元，用於擴展其高性能溫度控管單元的專用造材製造系統。

同時，人工智慧基礎設施和超大規模資料中心對冷卻需求的激增，正在加速模組化和緊湊型熱交換器設計的發展。隨著伺服器密度的增加，傳統的笨重冷卻系統正被能夠在有限空間內處理極端熱負荷的緊湊型系統和模組化液冷單元所取代。這一高密度應用領域，與更廣泛的工業需求不同，正迅速成為溫度控管公司的主要收入來源。根據Facilities Dive 2024年5月發表的一篇報導《Modine資料中心營收在2024會計年度成長69%》，Modine製造公司報告稱，其資料中心冷卻產品的銷售額年增69%，在2024會計年度達到2.94億美元。

目錄

第1章概述

第2章調查方法

第3章執行摘要

第4章：客戶評價

第5章 全球熱交換器市場展望

  • 市場規模及預測
    • 按金額
  • 市佔率及預測
    • 依產品類型（板框式{硬焊、墊片式、焊接}、管殼式、空冷式）
    • 依材質（碳鋼、不鏽鋼、鎳等）
    • 依最終用戶（化學、石油化學、油氣、暖通空調、食品飲料、發電、其他）
    • 按地區
    • 按公司（2025 年）
  • 市場地圖

第6章 北美熱交換器市場展望

  • 市場規模及預測
  • 市佔率及預測
  • 北美洲：國家分析
    • 美國
    • 加拿大
    • 墨西哥

第7章：歐洲熱交換器市場展望

  • 市場規模及預測
  • 市佔率及預測
  • 歐洲：國家分析
    • 德國
    • 法國
    • 英國
    • 義大利
    • 西班牙

8. 亞太地區熱交換器市場展望

  • 市場規模及預測
  • 市佔率及預測
  • 亞太地區：國家分析
    • 中國
    • 印度
    • 日本
    • 韓國
    • 澳洲

第9章：中東和非洲熱交換器市場展望

  • 市場規模及預測
  • 市佔率及預測
  • 中東和非洲：國家分析
    • 沙烏地阿拉伯
    • 阿拉伯聯合大公國
    • 南非

第10章：南美洲熱交換器市場展望

  • 市場規模及預測
  • 市佔率及預測
  • 南美洲：國家分析
    • 巴西
    • 哥倫比亞
    • 阿根廷

第11章 市場動態

  • 促進要素
  • 任務

第12章 市場趨勢與發展

  • 併購
  • 產品發布
  • 最新進展

第13章 全球熱交換器市場：SWOT分析

第14章：波特五力分析

  • 產業競爭
  • 新進入者的可能性
  • 供應商電力
  • 顧客權力
  • 替代品的威脅

第15章 競爭格局

  • Alfa Laval AB
  • GEA Group Aktiengesellschaft
  • Xylem Incorporated
  • SPX Corporation
  • Danfoss
  • Hamon & Cie SA
  • Modine Manufacturing Company
  • FUNKE Warmeaustauscher Apparatebau GmbH
  • Sondex Holding
  • API Heat Transfer Incorporated

第16章 策略建議

第17章：關於研究公司及免責聲明

簡介目錄
Product Code: 7283

The Global Heat Exchanger Market is projected to expand from USD 26.58 Billion in 2025 to USD 39.05 Billion by 2031, reflecting a CAGR of 6.62%. As engineered thermal transfer systems designed to exchange heat between fluids of varying temperatures, heat exchangers serve as vital components for thermal management across heavy industries. A primary growth catalyst involves the strict enforcement of global energy efficiency mandates, which require industrial facilities to implement waste heat recovery systems. Furthermore, rapid urbanization in developing nations continues to drive the need for HVAC systems and chemical processing machinery, sustaining the demand for sophisticated thermal management units.

Market Overview
Forecast Period2027-2031
Market Size 2025USD 26.58 Billion
Market Size 2031USD 39.05 Billion
CAGR 2026-20316.62%
Fastest Growing SegmentHVACR
Largest MarketNorth America

Recent industrial volume statistics highlight this robust demand in downstream sectors. According to the Japan Refrigeration and Air Conditioning Industry Association, the global demand for air conditioners-which rely on heat exchangers as core components-was estimated at 131.6 million units in 2024. Despite these favorable market indicators, the industry encounters a major obstacle regarding volatile raw material prices, particularly for aluminum and copper. This volatility introduces uncertainty into manufacturing costs and complicates the negotiation of long-term supply agreements.

Market Driver

The escalating demand for HVACR systems acts as a major market catalyst, fueled by the electrification of heating and the necessity to replace aging infrastructure in both commercial and residential sectors. Heat exchangers are crucial to these systems, especially within air-source heat pumps, which are experiencing rapid adoption due to global decarbonization targets. Additionally, the transition toward more rigorous efficiency standards requires manufacturers to employ advanced heat transfer surfaces that reduce energy usage. This volume-centric growth is evident in recent shipment data; according to the Air-Conditioning, Heating, and Refrigeration Institute's 'August 2024 Monthly Shipment Data', released in October 2024, year-to-date shipments of combined air-source heat pumps and central air conditioners in the U.S. totaled roughly 6.74 million units.

In parallel, the broadening of global petrochemical and chemical processing capacities is generating substantial needs for robust thermal management equipment. Industrial operators are consistently investing in plate and shell-and-tube heat exchangers designed to endure the corrosive fluids and extreme pressures characteristic of these heavy industries. This industrial capital expenditure results in significant order backlogs for manufacturers; for example, Alfa Laval's 'Annual Report 2023', published in March 2024, noted that its Energy Division reported an order intake of SEK 20.4 billion. The broader health of the market is further demonstrated by the financial results of key players, such as Modine Manufacturing Company, which reported record full-year net sales of USD 2.4 billion in 2024.

Market Challenge

Price volatility in raw materials, specifically aluminum and copper, creates a significant hurdle for the growth of the Global Heat Exchanger Market. Because these metals are essential for the thermal conductivity necessary in heat transfer units, manufacturers remain highly sensitive to fluctuations in input costs. When material prices swing unpredictably, producers find it challenging to uphold the stable pricing structures required to secure large-scale industrial contracts. This instability compels manufacturers to either absorb the increased costs, thereby shrinking their operating margins, or pass the expenses on to clients, a move that frequently results in project delays or cancellations due to budgetary limits.

Shifting demand dynamics in major industrial regions further exacerbate this uncertainty, placing added strain on supply chains. According to the Aluminum Association, aluminum demand in North America rose by 5.2% in the first half of 2024 compared to the prior period. Such fluctuations in raw material consumption drive price instability, preventing manufacturers from accurately predicting expenses. Consequently, companies encounter substantial difficulties in committing to the long-term supply agreements that are vital for sustained market expansion, as they are unable to reliably forecast their future production costs.

Market Trends

The rapid adoption of additive manufacturing is revolutionizing the market by facilitating the production of heat exchangers with complex, topology-optimized geometries that were previously unachievable through casting or machining. This technology enables the creation of intricate lattice structures and thinner walls, which significantly enhance surface-area-to-volume ratios while reducing weight-a critical factor for performance-driven sectors such as defense and aerospace. The commercial feasibility of this manufacturing evolution is gaining traction as specialized firms secure the capital needed to scale operations. For instance, according to an October 2024 article by 3D Printing Industry titled '$11M Series B funding for Conflux's innovative 3D printed heat exchangers', Conflux Technology raised USD 11 million to expand its specific additive manufacturing systems for high-performance thermal management units.

Concurrently, the development of modular and compact heat exchanger designs is accelerating, driven by the exponential cooling demands of artificial intelligence infrastructure and hyperscale data centers. As server density rises, traditional massive cooling configurations are being superseded by compact systems and modular liquid cooling units capable of handling extreme thermal loads within confined spaces. This high-density segment is quickly emerging as a primary revenue source for thermal management firms, setting itself apart from broader industrial demand. According to a May 2024 Facilities Dive article titled 'Modine's data center sales jumped 69% in FY 2024', Modine Manufacturing Company reported that sales for its data center cooling products rose by 69% year-over-year, reaching USD 294 million for the fiscal year 2024.

Key Market Players

  • Alfa Laval AB
  • GEA Group Aktiengesellschaft
  • Xylem Incorporated
  • SPX Corporation
  • Danfoss
  • Hamon & Cie SA
  • Modine Manufacturing Company
  • FUNKE Warmeaustauscher Apparatebau GmbH
  • Sondex Holding
  • API Heat Transfer Incorporated

Report Scope

In this report, the Global Heat Exchanger Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Heat Exchanger Market, By Product Type

  • Plate & Frame {Brazed, Gasketed, Welded}
  • Shell & Tube
  • Air Cooled

Heat Exchanger Market, By Material

  • Carbon Steel
  • Stainless Steel
  • Nickel
  • Others

Heat Exchanger Market, By End-User

  • Chemical
  • Petrochemical
  • Oil & Gas
  • HVACR
  • Food & Beverage
  • Power Generation
  • Others

Heat Exchanger Market, By Region

  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • France
    • United Kingdom
    • Italy
    • Germany
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
  • South America
    • Brazil
    • Argentina
    • Colombia
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Heat Exchanger Market.

Available Customizations:

Global Heat Exchanger Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Table of Contents

1. Product Overview

  • 1.1. Market Definition
  • 1.2. Scope of the Market
    • 1.2.1. Markets Covered
    • 1.2.2. Years Considered for Study
    • 1.2.3. Key Market Segmentations

2. Research Methodology

  • 2.1. Objective of the Study
  • 2.2. Baseline Methodology
  • 2.3. Key Industry Partners
  • 2.4. Major Association and Secondary Sources
  • 2.5. Forecasting Methodology
  • 2.6. Data Triangulation & Validation
  • 2.7. Assumptions and Limitations

3. Executive Summary

  • 3.1. Overview of the Market
  • 3.2. Overview of Key Market Segmentations
  • 3.3. Overview of Key Market Players
  • 3.4. Overview of Key Regions/Countries
  • 3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Heat Exchanger Market Outlook

  • 5.1. Market Size & Forecast
    • 5.1.1. By Value
  • 5.2. Market Share & Forecast
    • 5.2.1. By Product Type (Plate & Frame {Brazed, Gasketed, Welded}, Shell & Tube, Air Cooled)
    • 5.2.2. By Material (Carbon Steel, Stainless Steel, Nickel, Others)
    • 5.2.3. By End-User (Chemical, Petrochemical, Oil & Gas, HVACR, Food & Beverage, Power Generation, Others)
    • 5.2.4. By Region
    • 5.2.5. By Company (2025)
  • 5.3. Market Map

6. North America Heat Exchanger Market Outlook

  • 6.1. Market Size & Forecast
    • 6.1.1. By Value
  • 6.2. Market Share & Forecast
    • 6.2.1. By Product Type
    • 6.2.2. By Material
    • 6.2.3. By End-User
    • 6.2.4. By Country
  • 6.3. North America: Country Analysis
    • 6.3.1. United States Heat Exchanger Market Outlook
      • 6.3.1.1. Market Size & Forecast
        • 6.3.1.1.1. By Value
      • 6.3.1.2. Market Share & Forecast
        • 6.3.1.2.1. By Product Type
        • 6.3.1.2.2. By Material
        • 6.3.1.2.3. By End-User
    • 6.3.2. Canada Heat Exchanger Market Outlook
      • 6.3.2.1. Market Size & Forecast
        • 6.3.2.1.1. By Value
      • 6.3.2.2. Market Share & Forecast
        • 6.3.2.2.1. By Product Type
        • 6.3.2.2.2. By Material
        • 6.3.2.2.3. By End-User
    • 6.3.3. Mexico Heat Exchanger Market Outlook
      • 6.3.3.1. Market Size & Forecast
        • 6.3.3.1.1. By Value
      • 6.3.3.2. Market Share & Forecast
        • 6.3.3.2.1. By Product Type
        • 6.3.3.2.2. By Material
        • 6.3.3.2.3. By End-User

7. Europe Heat Exchanger Market Outlook

  • 7.1. Market Size & Forecast
    • 7.1.1. By Value
  • 7.2. Market Share & Forecast
    • 7.2.1. By Product Type
    • 7.2.2. By Material
    • 7.2.3. By End-User
    • 7.2.4. By Country
  • 7.3. Europe: Country Analysis
    • 7.3.1. Germany Heat Exchanger Market Outlook
      • 7.3.1.1. Market Size & Forecast
        • 7.3.1.1.1. By Value
      • 7.3.1.2. Market Share & Forecast
        • 7.3.1.2.1. By Product Type
        • 7.3.1.2.2. By Material
        • 7.3.1.2.3. By End-User
    • 7.3.2. France Heat Exchanger Market Outlook
      • 7.3.2.1. Market Size & Forecast
        • 7.3.2.1.1. By Value
      • 7.3.2.2. Market Share & Forecast
        • 7.3.2.2.1. By Product Type
        • 7.3.2.2.2. By Material
        • 7.3.2.2.3. By End-User
    • 7.3.3. United Kingdom Heat Exchanger Market Outlook
      • 7.3.3.1. Market Size & Forecast
        • 7.3.3.1.1. By Value
      • 7.3.3.2. Market Share & Forecast
        • 7.3.3.2.1. By Product Type
        • 7.3.3.2.2. By Material
        • 7.3.3.2.3. By End-User
    • 7.3.4. Italy Heat Exchanger Market Outlook
      • 7.3.4.1. Market Size & Forecast
        • 7.3.4.1.1. By Value
      • 7.3.4.2. Market Share & Forecast
        • 7.3.4.2.1. By Product Type
        • 7.3.4.2.2. By Material
        • 7.3.4.2.3. By End-User
    • 7.3.5. Spain Heat Exchanger Market Outlook
      • 7.3.5.1. Market Size & Forecast
        • 7.3.5.1.1. By Value
      • 7.3.5.2. Market Share & Forecast
        • 7.3.5.2.1. By Product Type
        • 7.3.5.2.2. By Material
        • 7.3.5.2.3. By End-User

8. Asia Pacific Heat Exchanger Market Outlook

  • 8.1. Market Size & Forecast
    • 8.1.1. By Value
  • 8.2. Market Share & Forecast
    • 8.2.1. By Product Type
    • 8.2.2. By Material
    • 8.2.3. By End-User
    • 8.2.4. By Country
  • 8.3. Asia Pacific: Country Analysis
    • 8.3.1. China Heat Exchanger Market Outlook
      • 8.3.1.1. Market Size & Forecast
        • 8.3.1.1.1. By Value
      • 8.3.1.2. Market Share & Forecast
        • 8.3.1.2.1. By Product Type
        • 8.3.1.2.2. By Material
        • 8.3.1.2.3. By End-User
    • 8.3.2. India Heat Exchanger Market Outlook
      • 8.3.2.1. Market Size & Forecast
        • 8.3.2.1.1. By Value
      • 8.3.2.2. Market Share & Forecast
        • 8.3.2.2.1. By Product Type
        • 8.3.2.2.2. By Material
        • 8.3.2.2.3. By End-User
    • 8.3.3. Japan Heat Exchanger Market Outlook
      • 8.3.3.1. Market Size & Forecast
        • 8.3.3.1.1. By Value
      • 8.3.3.2. Market Share & Forecast
        • 8.3.3.2.1. By Product Type
        • 8.3.3.2.2. By Material
        • 8.3.3.2.3. By End-User
    • 8.3.4. South Korea Heat Exchanger Market Outlook
      • 8.3.4.1. Market Size & Forecast
        • 8.3.4.1.1. By Value
      • 8.3.4.2. Market Share & Forecast
        • 8.3.4.2.1. By Product Type
        • 8.3.4.2.2. By Material
        • 8.3.4.2.3. By End-User
    • 8.3.5. Australia Heat Exchanger Market Outlook
      • 8.3.5.1. Market Size & Forecast
        • 8.3.5.1.1. By Value
      • 8.3.5.2. Market Share & Forecast
        • 8.3.5.2.1. By Product Type
        • 8.3.5.2.2. By Material
        • 8.3.5.2.3. By End-User

9. Middle East & Africa Heat Exchanger Market Outlook

  • 9.1. Market Size & Forecast
    • 9.1.1. By Value
  • 9.2. Market Share & Forecast
    • 9.2.1. By Product Type
    • 9.2.2. By Material
    • 9.2.3. By End-User
    • 9.2.4. By Country
  • 9.3. Middle East & Africa: Country Analysis
    • 9.3.1. Saudi Arabia Heat Exchanger Market Outlook
      • 9.3.1.1. Market Size & Forecast
        • 9.3.1.1.1. By Value
      • 9.3.1.2. Market Share & Forecast
        • 9.3.1.2.1. By Product Type
        • 9.3.1.2.2. By Material
        • 9.3.1.2.3. By End-User
    • 9.3.2. UAE Heat Exchanger Market Outlook
      • 9.3.2.1. Market Size & Forecast
        • 9.3.2.1.1. By Value
      • 9.3.2.2. Market Share & Forecast
        • 9.3.2.2.1. By Product Type
        • 9.3.2.2.2. By Material
        • 9.3.2.2.3. By End-User
    • 9.3.3. South Africa Heat Exchanger Market Outlook
      • 9.3.3.1. Market Size & Forecast
        • 9.3.3.1.1. By Value
      • 9.3.3.2. Market Share & Forecast
        • 9.3.3.2.1. By Product Type
        • 9.3.3.2.2. By Material
        • 9.3.3.2.3. By End-User

10. South America Heat Exchanger Market Outlook

  • 10.1. Market Size & Forecast
    • 10.1.1. By Value
  • 10.2. Market Share & Forecast
    • 10.2.1. By Product Type
    • 10.2.2. By Material
    • 10.2.3. By End-User
    • 10.2.4. By Country
  • 10.3. South America: Country Analysis
    • 10.3.1. Brazil Heat Exchanger Market Outlook
      • 10.3.1.1. Market Size & Forecast
        • 10.3.1.1.1. By Value
      • 10.3.1.2. Market Share & Forecast
        • 10.3.1.2.1. By Product Type
        • 10.3.1.2.2. By Material
        • 10.3.1.2.3. By End-User
    • 10.3.2. Colombia Heat Exchanger Market Outlook
      • 10.3.2.1. Market Size & Forecast
        • 10.3.2.1.1. By Value
      • 10.3.2.2. Market Share & Forecast
        • 10.3.2.2.1. By Product Type
        • 10.3.2.2.2. By Material
        • 10.3.2.2.3. By End-User
    • 10.3.3. Argentina Heat Exchanger Market Outlook
      • 10.3.3.1. Market Size & Forecast
        • 10.3.3.1.1. By Value
      • 10.3.3.2. Market Share & Forecast
        • 10.3.3.2.1. By Product Type
        • 10.3.3.2.2. By Material
        • 10.3.3.2.3. By End-User

11. Market Dynamics

  • 11.1. Drivers
  • 11.2. Challenges

12. Market Trends & Developments

  • 12.1. Merger & Acquisition (If Any)
  • 12.2. Product Launches (If Any)
  • 12.3. Recent Developments

13. Global Heat Exchanger Market: SWOT Analysis

14. Porter's Five Forces Analysis

  • 14.1. Competition in the Industry
  • 14.2. Potential of New Entrants
  • 14.3. Power of Suppliers
  • 14.4. Power of Customers
  • 14.5. Threat of Substitute Products

15. Competitive Landscape

  • 15.1. Alfa Laval AB
    • 15.1.1. Business Overview
    • 15.1.2. Products & Services
    • 15.1.3. Recent Developments
    • 15.1.4. Key Personnel
    • 15.1.5. SWOT Analysis
  • 15.2. GEA Group Aktiengesellschaft
  • 15.3. Xylem Incorporated
  • 15.4. SPX Corporation
  • 15.5. Danfoss
  • 15.6. Hamon & Cie SA
  • 15.7. Modine Manufacturing Company
  • 15.8. FUNKE Warmeaustauscher Apparatebau GmbH
  • 15.9. Sondex Holding
  • 15.10. API Heat Transfer Incorporated

16. Strategic Recommendations

17. About Us & Disclaimer