Latin America Heat Exchanger Market Report by Type (Shell & Tube, Plate & Frame, Air Cooled, and Others), Material (Carbon Steel, Stainless Steel, Nickel, and Others), End Use Industry (Chemical, Petrochemical and Oil & Gas, HVAC and Refrigeration, Food & Beverage, Power Generation, Paper & Pulp, and Others), and Country 2024-2032
The Latin America heat exchanger market size reached US$ 1.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1.7 Billion by 2032, exhibiting a growth rate (CAGR) of 4.2% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 1.2 Billion
Market Forecast in 2032
US$ 1.7 Billion
Market Growth Rate 2024-2032
4.2%
Heat exchangers are utilized to transfer heat between two or more liquids and control the temperature of a system or substance. These devices are made up of hot and cold streams, which are employed to transport thermal energy among the streams. They produce relatively less pollution and use less energy than their counterparts. As a result, they find application in automotive radiators, air conditioning systems and sewage treatments across the Latin American region.
The increasing refurbishment programs of conventional power units, refineries and chemical processing plants represents one of the key factors bolstering the heat exchangers market in the Latin American region. Apart from this, rising investments by governments of several countries, including Chile, Mexico, Brazil and Argentina, for the development of the state-of-the-art power generation infrastructure are positively influencing the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Latin America heat exchanger market report, along with forecasts at the regional and country level from 2024-2032. Our report has categorized the market based on type, material and end use industry.
Breakup by Type:
Shell & Tube
Plate & Frame
Air Cooled
Others
Breakup by Material:
Carbon Steel
Stainless Steel
Nickel
Others
Breakup by End Use Industry:
Chemical
Petrochemical and Oil & Gas
HVAC and Refrigeration
Food & Beverage
Power Generation
Paper & Pulp
Others
Breakup by Country:
Brazil
Mexico
Argentina
Colombia
Chile
Peru
Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Billion
Segment Coverage
Type, Material, End Use Industry, Country
Countries Covered
Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 3699
Five User License: US$ 4699
Corporate License: US$ 5699
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The Latin America heat exchanger market was valued at US$ 1.2 Billion in 2023.
We expect the Latin America heat exchanger market to exhibit a CAGR of 4.2% during 2024-2032.
The extensive utilization of heat exchangers in automotive radiators, air conditioning systems, and
sewage treatment equipment, to control harmful emissions and improve energy efficiency, is
currently driving the Latin America heat exchanger market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent
lockdown regulations across Latin America resulting in the temporary closure of numerous
manufacturing units for heat exchanger units.
Based on the type, the Latin America heat exchanger market can be categorized into shell & tube,
plate & frame, air cooled, and others. Among these, shell and tube currently exhibit a clear
dominance in the market.
Based on the material, the Latin America heat exchanger market has been segmented into carbon
steel, stainless steel, nickel, and others. Currently, stainless steel represents the largest market
share.
Based on the end use industry, the Latin America heat exchanger market can be bifurcated into
chemical, petrochemical and oil & gas, HVAC and refrigeration, food & beverage, power generation,
paper & pulp, and others. Among these, the chemical industry currently accounts for the majority of
the total market share.
On a regional level, the market has been classified into Brazil, Mexico, Argentina, Colombia, Chile,
Peru, and others, where Brazil currently dominates the market.
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