Research and Markets has added a report on the global air-cooled heat exchanger market, forecasting growth from USD 4.27 billion in 2025 to USD 10.02 billion by 2035. The report projects a CAGR of 8.90% during the forecast period and covers product type, material type, application area, end user and geographical regions.
The report says demand is supported by industries seeking efficient and environmentally friendly cooling solutions compared with traditional water-cooled systems. Air-cooled heat exchangers are described as metal tubes with engineered fins and fans that use ambient air for cooling.
In power generation, the report identifies closed-loop cooling as a use case for protecting sensitive equipment. It also links compact design with ease of installation and cites air quality improvements and dynamic temperature control capabilities in HVAC systems.
The market segmentation includes air coolers, cooling towers, plate and frame, shell and tube, and other products. Shell and tube currently holds the largest market share, while plate and frame systems are projected to grow faster in sectors including chemical, food and beverage, and power generation.
By material, the report covers aluminum, carbon steel, copper and stainless steel. Carbon steel currently leads due to cost-effectiveness and ease of manufacturing, while copper and stainless steel are expected to grow rapidly due to copper’s thermal conductivity and stainless steel’s strength and durability.
Applications covered include chemical, food and beverage, HVAC and refrigeration, oil and gas, petrochemical, and power generation. Asia currently holds the largest market share, while Europe is expected to grow rapidly due to increased investment in R&D for air-cooled heat exchanger technologies.
