Report Code: A16035 | Pages: NA | Jul 2023 | 1135 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Air-cooled Heat Exchangers Market
Request Now !The air-cooled heat exchanger market is experiencing significant growth and is anticipated to grow throughout the forecast period. Heat exchanger is a system that transfer heat between two or more fluids. Heat exchangers can be used for cooling as well as heating processes. Air-cooled heat exchangers flow large a quantity of cooled air around a bank of finned tubes with the help of large fans to perform its cooling function. Air-cooled heat exchangers use ambient air as a cooling medium instead of water for direct cooling of various process mediums. Air-cooled heat exchangers are extensively used in chemical and petroleum industry for cooling or condensing purposes. Air-cooled heat exchangers are economical and environment friendly. As temperature control plays a key role, air-cooled heat exchangers are a vital component of various process industries. Major players in the industry are allocating resources to the development of more efficient and effective air-cooled heat exchangers.Â
Description
Air-cooled heat exchangers consist of tube bundle, an air pumping device such as a fan or blower, a support structure, temperature control ducts, and other components. Hot process fluids enter through one end of the air-cooled heat exchanger via tubes, while the ambient air flows around and between the tubes. This enables the transfer of process heat to the air, thereby cooling the process fluid. The heated air is then discharged into the atmosphere. Air-cooled heat exchangers are available in a wide range of sizes, which increases their applicability in various heat exchange processes.Â
COVID-19 Impact analysis
Top Impacting Factors
Increase in global population has significantly increased the number of automobiles on road, thereby increasing the demand for fuel. This has resulted in increased oil drilling and refining activities, thereby fuelling the demand for air-cooled heat exchangers as they are extensively used in refining facilities. Air-cooled heat exchangers are used in petrochemical industry and other high temperature processing facilities. They are energy efficient and environmentally friendly as they do not use water. Thus, they are an ideal condition in arid and semi-arid conditions. Furthermore, unlike water-based heat exchangers, air-cooled heat exchangers do not pose the threat of contamination and thus have a significantly lower maintenance cost. However, high initial and installation costs are a restraint on the growth of air-cooled heat exchanger market. The rapid growth of industries in developing countries has significantly increased the demand for fuel and power. According to the Ministry of Petroleum & Natural Gas, with a total of 23 refineries, India emerged as the fourth largest refining hub in the last few years. Such rapid growth of refineries offers lucrative growth opportunities for the air-cooled heat exchangers market. Â
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