The global heat exchanger market stood at USD 17.4 billion in 2022 and is anticipated to grow steadily, reaching about USD 30.7 billion by 2032, with a CAGR of 6% during the forecast period. This growth is supported by rising demand from industries such as oil & gas, chemicals, power generation, HVAC, and food processing. As energy efficiency becomes a top priority worldwide, the role of heat exchangers in industrial operations continues to gain importance.
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