Air-cooled Heat Exchangers Market: Overview

Air-cooled heat exchangers (ACHEs) are used to remove heat generated by a process system, which has no local use. They are typically used when the outlet temperature exceeds the maximum expected ambient air temperature by more than 20°F. They can also be used for smaller differences in temperatures; however, in such cases, they become more expensive than the combination of a water-cooled exchanger and a cooling tower. Air-cooled heat exchangers offer an eco-friendly solution unlike cooling towers and shell & tube heat exchangers, especially as they do not require auxiliary water supply.

Air-cooled Heat Exchangers Market: Trends & Development

Typically, ACHEs are constructed by using finned-tube bundles that have rectangular box headers at both ends of the tube. Fans supply the cooling air, with the air usually being blown upward through a horizontal tube bundle. A plenum chamber is used between the fans and the tube bundle to direct the air. The whole assembly is then mounted on legs or piperacks.

There are several standards as per which air-cooled heat exchangers are constructed. The most commonly used standard is ASME SECT.VIII Div.1 or Div.2. Another standard, used for general refinery service, is API 661 / ISO 13076. On the other hand, the Shell DEP 31.21.70.31 standard has a few special requirements. For example, a removable, bonnet-type header should not be used. Also, tubes should have aluminum fins and the fins for all air-cooler tubes should be of extruded type, with 394 fins per meter.

Benefits offered by air-cooled heat exchangers in terms of environment protection are key drivers of the air-cooled heat exchangers market. Concerns about global warming and climate change are increasing. Governments are advising companies to adopt eco-friendly practices. In this scenario, companies can adopt ACHEs and get benefitted from associated government subsidies. However, high costs associated with the purchase, assembly, installation, maintenance, and upgrade of ACHEs can deter companies from using the technology. This is especially because other types of cost-effective technologies, such as cooling towers and shell & tube heat exchangers, are available.

Air-cooled Heat Exchangers Market: Key Segmentations

The global air-cooled heat exchangers market can be segmented based on type, material, end-user, and region. In terms of type, the air-cooled heat exchangers market can be divided into forced draft and induced draft. In case of forced draft, the air is pushed through the tube bundle, while, in case of induced draft, it is pulled through the tube bundle. Forced-draft ACHEs are more common in the marketplace. They have several advantages over induced-draft ACHEs such as ease of manufacture and maintenance and low power requirement.

Based on material, the air-cooled heat exchangers market can be classified into carbon steel, stainless steel, and others (including aluminum). Use of material depends on several factors such as temperature, application, region, and the capital allocated. In terms of end-user, the air-cooled heat exchangers market can be categorized into industrial, refinery & petrochemical, and power stations. The use of air-cooled heat exchangers in power stations is a relatively new development.

Air-cooled Heat Exchangers Market: Regional Outlook

Geographically, the global air-cooled heat exchangers market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Air-cooled Heat Exchangers Market: Key Players

Several companies operate in the global air-cooled heat exchangers market. Key players in the air-cooled heat exchangers market include Alfa Laval, GE Oil & Gas, Howden Group, Paharpur Cooling Towers Ltd., and Chart Industries.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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