The global heat exchanger market was valued at approximately USD 17.4 billion in 2022 and is forecast to grow at a 6% CAGR from 2023 to 2032, reaching around USD 30.7 billion by 2032. Demand is being driven by key sectors such as oil & gas, power generation, chemical processing, HVAC, and food & beverage highlighting the growing global emphasis on efficient thermal management Key Takeaways Shell & tube exchangers dominated in 2022, contributing 35.7% of market revenue. Chemical & petrochemical industries led end-user demand with ~22.7% share. Rising energy prices and the expansion of renewables are major growth drivers. Obstacles include high initial costs and complex manufacturing processes. Opportunities lie in the rapidly growing demand from developing nations and the increasing shift toward energy-efficient exchangers. Regional strength: Europe held about 31.9% of the global market in 2022. Sample Report Request For More Trending Reports: https://market.us/report/heat-exchanger-market/free-sample/