MARKET OVERVIEW- EUROPE WELDED SPIRAL HEAT EXCHANGERS MARKET
The welded spiral heat exchanger has been manufactured by rolling two long metal plates around the center core to form two concentric spiral flow passes, one for each fluid. For, welded spiral heat exchanger plate gap is normally maintained by welded spacer studs, which are generally customized for every application. The welded spiral heat exchanger are widely recognized for various benefits associated with them which mainly include high thermal efficiency as welded spiral heat exchanger have single and long curving flow passage which maintain superior flow distribution. Moreover, welded spiral heat exchangers are compact and requires minimal space for installation and servicing due to which they are widely popular in various industries such as chemical, food & beverage, petrochemical, HVAC & refrigeration, power generation, pulp & paper, wastewater and other industries.
The key factor driving the market growth of welded spiral heat exchanger market is the growing role of food and beverages industry in the European countries. For instance, according to a report released by the European Commission, in the last decade, EU food and drink exports have doubled, reaching over €90 Billion (USD 87 Billion) and contributing to a positive balance of almost €30 Billion (USD 29 Billion). Moreover, in this region, Germany & UK are considered to be considered to be one of the major markets for food & beverages across the globe, which makes Europe an important market for the welded spiral heat exchanger.
The market for welded spiral heat exchangers has been growing at a significant rate, and there are several factors, providing an opportunity for the market to grow which include, growing petrochemical industry across the Europe region is attributed to growth in industries like construction, pharmaceuticals, and automotive industries. Moreover, in the last few years, recycling and efforts to curb single-use plastics are taking place in the Europe region, will be far outweighed by European economies sharply increasing their shares of plastic consumption and likely to create the demand for petrochemical. Moreover, it is expected that production of Ethylene and Propylene is also expected to help the petrochemical industry to grow further and likely to help the welded spiral heat exchanger market to grow further.
The key factor which hampers the growth of the market is increasing demand for the electric vehicles, since welded spiral heat exchanger are widely used in the radiators of the traditional vehicles but most of the electric vehicles generally do not use radiators for cooling down but they use other components. However, in the last few years, as the environmental awareness has been increased and regulatory bodies are also focusing upon promoting the use of electric vehicle which is likely to hamper the growth of welded spiral heat exchanger market.
MARKET GROWTH CHALLENGES
The major growth challenges for the welded spiral heat exchangers market is the complexity associated with the design of welded hear exchanger market. These are designed to withstand higher fluid pressure and have more structural rigidity due to which they are very complex to design and the parts used in the manufacturing welded spiral heat exchangers are also expensive which is a great challenge for the welded spiral heat exchangers market to grow. Also, disruption of supply chain during the COVID crisis has hampered the growth of welded spiral heat exchangers market.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of the region welded spiral heat exchangers market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. Growing food & beverage and growth in the petrochemical industry is likely to increase the demand for the market and is expected to witness growth at a specific CAGR from 2022-2028.
EUROPE WELDED SPIRAL HEAT EXCHANGERS MARKET SEGMENTAL OVERVIEW
The European welded spiral heat exchangers market comprises different market segments like Material, Flow Type, Industry and Country.
EUROPE WELDED SPIRAL HEAT EXCHANGERS MARKET BY MATERIAL
By Material, the welded spiral heat exchangers includes key segment of
On the basis of material, the market for welded spiral heat exchangers is likely to be dominated by the steel segment during the forecast period, owing to its beneficial properties like high corrosion resistance at a wide range of pH levels, lightweight, high thermal conductivity, and high performance than other materials. Moreover, welded spiral heat exchanger are able to remove heat quickly via high throughput which make them desirable among various industries including chemical, food & beverage, petrochemical, HVAC & refrigeration, power generation, pulp & paper, wastewater industry, and others.
EUROPE WELDED SPIRAL HEAT EXCHANGERS MARKET BY FLOW TYPE
Flow types studied under welded spiral heat exchangers market are-
- Countercurrent Flow
- Co-Current Flow
The countercurrent segment is likely to expand at a fast rate over the projected period, as the counter-current flow allows a diverse range of fluid temperatures to be exchanged and is highly effective than the other flow types. Also, countercurrent helps in enhancing the heat exchange, and it is commonly applied in various industries. Moreover, a heat exchanger can be arranged in a countercurrent configuration to increase the overall heat transfer and the same principle is also useful for optimizing the transfer of chemical species from one flow to another.
EUROPE WELDED SPIRAL HEAT EXCHANGERS MARKET BY INDUSTRY
The European Welded Spiral Heat Exchangers market by Industry is classified into
- Food & Beverages
- HVAC & Refrigeration
- Power Generation
- Pulp & Paper
- Wastewater Industry
For welded spiral heat exchangers market, the chemical sector holds an important share owing to ongoing technological advancements, increasing focus on efficiency standards and many more which has been resulted into increasing demand of the welded spiral heat exchangers in the chemical sector. Also, Europe region is considered to be one of the largest chemical producers across the globe, which make it a growing region. Moreover, growing food & beverages sectors across Europe region and increasing demand for power generation is also likely to create the demand for welded spiral heat exchanger market.
EUROPE WELDED SPIRAL HEAT EXCHANGERS MARKET BY COUNTRY
The European welded spiral heat exchangers market is studied for the following countries
• United Kingdom
• Resto of the Europe
In Europe region, UK and Germany are considered to be the most important markets for the welded spiral heat exchangers, since Germany is considered to be one of the largest producers of Chemicals across the globe, and as the industrialization is growing in UK & Germany, more emphasis has been given upon power generation which is likely to help the welded spiral heat exchangers market to grow at a rapid pace. In addition to that, in the last few years, as the economy is growing in France, the chemical industry of the country has been also growing at a rapid pace, creating an opportunity for the welded spiral heat exchangers market to grow further. Also, the food & beverages industry of the region has been recognized across the globe, which is a major factor, impacting the growth of welded spiral heat exchangers market in the Europe region.
COVID-19 IMPACT ANALYSIS ON WELDED SPIRAL HEAT EXCHANGERS MARKET
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macroeconomic factors in the welded spiral heat exchangers market. In addition, a complete analysis of changes in the welded spiral heat exchangers market expenditure, and economic and international policies on the supply and demand side. The report also studies the impact of the pandemic on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. In the Europe region, COVID-19 has affected several sector including, chemical, food & beverages and many more. During this period, chemical industry suffered a great loss, according to statistics released by Society of Chemical Industry (SCI), Chemical output in the EU27 fell by 5.2% over the period January to June 2020, compared with the same period in 2019. Also, food & beverages industry of the country suffered a great loss, in the initial few months of the COVID, export of the Foods, feeds, and beverages declined drastically which impacted the market growth.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of the welded spiral heat exchangers market is certainly based on the range of market players operating in the market which have been offering a wide range of products for different applications in various geographic locations. The market has a major competitive analysis based on new product launches as well as other developments.
The key players studied in market are
- Nexson Group (France),
- Kurose Chemical Equipment Co., Ltd. (Japan),
- Shanghai Shenglin M&E Technology Co., Ltd. (China),
- SmartHeat Inc. (China),
- Shineheat Tech (Shanghai) Corp (China),
- Elanco, Inc. (United States),
- Alfa Laval AB (Sweden),
- Danfoss A/S (Denmark),
- Gooch Thermal (United States)