Welded Spiral Heat Exchangers Market Report Size to Value $1.8 Billion by 2028-Share, Growth Prospect, Industry Survey, End-User Analysis and Top Key
On the basis of type of material, the Welded Spiral Heat Exchangers market includes the key segments of steel and non-steel. The steel segment is expected to hold the largest market share in the market over the forecast period. By flow type, the Welded Spiral Heat Exchangers market includes segments like countercurrent flow and co-current flow. The counter-current segment is likely to expand at a fast rate over the projected time period.
Market Overview- Welded Spiral Heat Exchangers Market
The welded spiral heat exchanger Market is built by rolling two long metal plates around the center core to form two concentric spiral flow passes, one for each fluid. The edges of the plate are welded shut so that each fluid stays within its own passage and there is no flow bypassing or intermixing. The width and spacing of the channel plate (the gap between plates) are designed for specified operation, maximum heat transfer, and ease of access. These heat exchangers are built to deal with the toughest challenges of heat transfer. Whether it's frequent fouling of dirty media, or restriction of pressure drop and floor space, it's the ultimate approach for liquid-to-liquid and two-phase activities. Due to these characteristics, welded spiral heat exchangers are used in various industries such as chemical, food & beverage, petrochemical, HVAC & refrigeration, power generation, pulp & paper, wastewater and other industries. Increasing demand for heat exchangers in HVAC, petrochemicals, chemical, and food & beverages industries across the developing countries is anticipated to provide ample of new growth opportunity for the market.
The market for welded spiral heat exchangers is driven by growing preference for welded spiral heat exchanger in petrochemical industry, growing industrial development in the Asia Pacific region and growing concern for sustainable energy development and intensive demand for energy efficiency is augmenting the growth of the heat exchanger. Welded spiral heat exchangers deliver high thermal efficiency in comparison to shell & tube heat exchangers. They also have a minimal footprint and are easy to access during maintenance and repair. The benefits provided by the welded spiral type of heat exchangers are expected to boost their demand for dangerous and aggressive fluids in the petrochemical industries, as leakage is essentially excluded due to welded channel construction. On the other side, rapid economic development in developing countries is expected to boost the growth of the market during the estimated time period.
The major players focus on economies of scope more than economies of scale as welded spiral heat exchangers can be used for many applications across different end-use industries. Hence, new product developments and extensive marketing activities play an important role in giving market players a competitive advantage. In addition, the increase in the thermal management system of the batteries, the increase in technological progress and the increase in research and development activities is expected to provide rising new growth opportunities for the market over the forecast period.
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Market Growth Challenges
COVID-19 has severely impacted the growth of the market to a significant extent. The disruptions in the supply chain is expected to negatively impact the growth of the market. These factors are expected to be major challenges for the market growth over the forecast period.
Welded Spiral Heat Exchangers Market Segmental Overview
The global Welded Spiral Heat Exchangers market comprises of different market segments like material, flow type, industry and geography.
Welded Spiral Heat Exchangers Market by Material
On the basis of material, the Welded Spiral Heat Exchangers market includes the key segments of
The steel segment holds the largest market share in 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.
Welded spiral heat exchangers are usually made of steel, which provides high heat thermal conductivity. The material enables the system to operate at a lower temperature difference and reduce the weight of the equipment. The demand for steel-based welded spiral heat exchangers is increasing from various end-use industries such as chemical, food & beverage, petrochemical, HVAC & refrigeration, power generation, pulp & paper, wastewater industry, and others.
Welded Spiral Heat Exchangers Market by Flow Type
There are two types of flow. These are as follows:
Among these, the counter-current 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. Countercurrent exchange systems are commonly applied in industry and are frequently observed in nature. For instance, a heat exchanger can be arranged in a countercurrent configuration to increase the overall heat transfer. The same principle is also useful for optimizing the transfer of chemical species from one flow to another.